New York, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America MIL-DTL-81714 Series II Connectors Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application and End Users" - https://www.reportlinker.com/p06103271/?utm_source=GNW
The growing focus on 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. Further, the increasing procurement of advanced fighter and transport aircraft is also propelling the MIL-DTL-81714 Series II Connectors market growth. Boeing, a US-based defense major, is considering offering its F-15EX Eagle fighter jets to the IAF and has also submitted a license application to 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+. The emergence of unmanned aerial vehicles is further expected to fuel the demand for MIL-DTL-81714 Series II Connectors in North America.
Based on application, aircraft lighting segment led the North America MIL-DTL-81714 Series II Connectors market in 2020.With augmenting concerns regarding environmental conservation, governments and corporates worldwide are actively exploring sustainable solutions for their operations, to reduce their environmental footprint.
As large enterprises have the supply chain spread across various multiple regions, they need to comply with various regulatory laws existing in different regions.Governments are offering subsidies and tax benefits, among others, to businesses investing in suitable solutions.
Thus, businesses approach environmental consulting firms to maximize returns on their investments by assessing investments and carrying out audits.
North America is known for the highest rate of adoption of advanced technologies due to favorable government policies to boost innovation and strengthen infrastructure.As a result, any factor affecting 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 to control the spread of infection in the country.The leading aircraft manufacturers and aircraft MRO service providers are witnessing significant losses amid the pandemic.
Drastic dip in aircraft manufacturer’s production volumes has hampered the adoption rate of different connectors.However, the governments of the US and Canada have maintained their defense spending levels at normal.
For instance, the defense spending in the US reached US$ 778 billion in 2020, with a yearly increase on 4.4%, which led several UAV manufacturers, UGV manufacturers, and weapon and combat system manufacturers to expedite the procurement of power connectors. As a result, the COVID-19 pandemic and its consequences have had a nominal impact on the MIL-DTL-81714 Series II Connectors market in North America.
The North America 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 North America MIL-DTL-81714 Series II Connectors market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to 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 North America MIL-DTL-81714 Series II Connectors market. Amphenol Pcd, Daniels Manufacturing Corporation, DME Interconnect, Souriau SAS, and TE Connectivity Ltd. are among the key market players operating in North America.
Read the full report: https://www.reportlinker.com/p06103271/?utm_source=GNW
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