North America and Europe capture 39% of the PCB Connectors market from 2021-2031, driven by advancements in aviation technology and increased air travel routes.
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Surge in new air travelling routes and a substantial increase in frequency of existing routes will continue to bolster growth for the aviation connectors market. Growing demand for budget air travelling impels the addition of aircrafts to commercial fleets. Since aviation connectors are crucial to the functioning of aircrafts, manufacturers will witness an increase in revenues.
The global aviation connector market will grow at a steady 5% CAGR during the forecast period (2020 – 2030). Major players are prioritizing countries with air-force projects in the pipeline. Strategic partnerships with airplane manufacturers continue to be a popular growth strategy. Amid the COVID-19 Pandemic, production, and distribution channels are witnessing a steep decline in operations. However, preventive government strategies to recover the economic loss of COVID-19 will present gainful opportunities through 2030.
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Organic growth strategies such as market penetration, product development, and diversification will be top trends among market players. Markets in low COVID-19 impact countries will be the first ones to offer revenue opportunities. A prime concern for manufacturers is the impact of COVID-19 and resultant social-distancing trends on air travelling. It is expected that consumer adoption of close proximity transportation through airplanes, buses, and other public transport will be slow.
Current limitations on import and export between countries presents a tricky challenge for manufacturers. Procurement of raw materials, dearth of workforce, and lack of logistics support are a few important challenges the COVID-19 pandemic imposes on aviation connector manufacturers during the forecast period. However, recovering countries suggest some relief may be underway, as the spread of coronavirus comes under control in the following months of the second financial quarter of 2020.
The global aviation connector market is segmented on the basis of type, shape, end use and region.
Type
Shape
End Use
Region
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The article discusses the growth of the PCB Connectors market in North America and Europe, capturing 39% market share during 2021-2031.
Increased air travel routes and demand for budget air travel drive the demand for aviation connectors.
High-speed connectors are expected to grow at a 6.5% CAGR through 2030.
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