MIL-DTL-81714 Series II Connectors Market 2021 New Growth Forecasts with 9.4% of CAGR Led by Amphenol Pcd, DME INTERCONNECT, Daniels Manufacturing Corporation, TE Connectivity Ltd., SOURIAU SAS

MIL-DTL-81714 Series II Connectors Market 2021 New Growth Forecasts with 9.4% of CAGR Led by Amphenol Pcd, DME INTERCONNECT, Daniels Manufacturing Corporation, TE Connectivity Ltd., SOURIAU SAS

“The Insight Partners”
According to our latest market study on “MIL-DTL-81714 Series II Connectors Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application and End User,” the market was valued at US$ 38.28 million in 2020 and it is projected to reach US$ 73.29 million by 2028; it is expected to grow at a CAGR of 9.4% from 2021 to 2028.

The MIL-DTL-81714 Series II connectors market is experiencing significant growth owing to increasing year-on-year government budgets for national security. Governments across the world are significantly investing in the procurement of new advanced state-of-the-art combat aircrafts. To cater to the dynamic challenges of the defense industry, market players are heavily investing in the development of robust and innovative electronic components.

Additionally, the heavy adoption of military unmanned aerial vehicles across the world is fueling the growth of the market. Meanwhile, one of the recent trends observed is the increasing deployment of military unmanned ground vehicles in battlefield, which is propelling the growth of market. However, the disruption in the supply chain of military electronics component such as MIL-DTL-81714 Series II Connectors owing to the COVID-19 outbreak has marginally impacted the adoption MIL-DTL-81714 Series II connectors.

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Impact of COVID-19 Pandemic on MIL-DTL-81714 Series II Connectors Market

North America is known for the highest adoption rate of advanced technologies due to favorable government policies to boost innovation and strengthen infrastructure capabilities. As a result, any factor affecting the performance of industries in the region hinders its economic growth. Currently, the US is the world’s worst-affected country due to the COVID-19 outbreak, which has led governments to impose several limitations on industrial, commercial, and public activities in the country to control the spread of infection. Therefore, the production volume of aircraft is decreasing drastically amid pandemic, which is declining the adoption rate of MIL-DTL-81714 Series II connectors. Thus, the aircraft manufacturers and aircraft MRO service providers are witnessing significant loss during the pandemic. However, the governments of the US and Canada have maintained their defense spending levels. The continued investments by government organizations in military and defense is expected to have a neutral impact on the growth of the MIL-DTL-81714 Series II connections market in the coming quarters.

The global MIL-DTL-81714 Series II connectors market is segmented on the basis of application, end user, and geography. Based on application, the market is segmented into aircraft lighting, unmanned aerial vehicle, unmanned ground vehicle, and combat systems & weaponry. The aircraft lighting segment held the largest market share in 2020. On the basis of end user, the MIL-DTL-81714 Series II connectors market is segmented into aircraft manufacturers, UAV manufacturers, UGV manufacturers, aircraft MRO service providers, weaponry manufacturers, and combat system integrators. The aircraft manufacturers segment held the largest market share in 2020. Geographically, North America held the largest share of the MIL-DTL-81714 Series II connectors market in 2020, followed by Europe and Asia Pacific. Further, the market in Asia Pacific is projected to witness the highest growth rate during the forecast period.

The overall MIL-DTL-81714 Series II connectors market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the MIL-DTL-81714 Series II connectors market with respect to all the segments. It also provides the overview and forecast for the global market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the MIL-DTL-81714 Series II connectors market. A few major players operating in the market are Amphenol Pcd, DME INTERCONNECT, Daniels Manufacturing Corporation, TE Connectivity Ltd., and SOURIAU SAS.

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