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.
Amphenol Pcd, DME INTERCONNECT, Daniels Manufacturing Corporation, TE Connectivity, SOURIAU SAS ,are among the major companies operating in the MIL-DTL-81714 Series II connectors market.
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The upgrading of existing fighter jets is among the major factors fueling the adoption of the MIL-DTL-81714 Series II connectors. In 2018, Royal Thai Air Force announced its plans of upgrading of the Saab Early Warning System; replacement of F-16 fighter jets and L-39s trainers; and procurement of various transport aircraft, helicopters, and unmanned aircraft. Similarly, the Defense Acquisition Council (DAC) approved defense deals worth INR 389 billion in July 2020, including the purchase of 21 MiG-29 Indian Air Force (IAF) fighter jets, upgrading of 59 existing MiG-29 jets from the IAF inventory, and purchase of 12 Su-30MKI aircraft from Russia. Further, the increasing procurement of advanced fighter and transport aircraft is also propelling the MIL-DTL-81714 Series II connectors market growth. For example, the Government of India is finalizing the 83 Light Combat Aircraft (LCA) Mark 1 A contract and is also in the process of acquiring 200 aircraft fleet to cope with depleting aerial inventories of the Indian Air Force (IAF). In addition, Boeing, the US defense major, is considering offering its F-15EX Eagle fighter jets to the IAF and has also applied for a license from the US authorities to export them to India. The move is seen as Boeing’s attempt to seize an IAF contract worth US$ 18 billion to procure 114 fighter jets. Similarly, Argentine Air Force has announced the procurement plan including aircraft such as IA 63, Mi-171, KC-390, and T-6C+. Thus, owing to growing adoption of military aircraft the MIL-DTL-81714 Series II connectors market is projected to witness significant growth.
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 players operating in the MIL-DTL-81714 Series II connectors market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
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