St. Charles, Ill. — Global sales of military connectors are expected to grow at a compound annual growth rate (CAGR) of 3.2 percent from 2008 to 2013, according to a new report from Bishop & Associates Inc. The market researcher estimates that the military connector market will grow from about $2.79 billion in 2009 to $2.97 billion in 2010, reaching $3.55 billion by 2013.
The report, “The World Military Connector Market“, reveals that all regions are projected to show positive growth, with modest sales in Japan, North America and Europe. Sales in China will more than double with a CAGR of 17.0 percent, said Bishop & Associates. The ROW region, which includes Central and South America, South Africa, Russia and Israel, will also experience above average growth, with a 5-year CAGR of 8.9 percent, according to the report.
However, the 2009 economic downturn will significantly impact sales numbers, with North America, Europe and Japan experiencing negative growth, according to the report.
But with the economy starting to show signs of stabilizing, sales of connectors to the military sector should start to show signs of recovery during the first half of 2010, according to Bishop & Associates. This upturn will create positive growth for all regions during 2010, with the greatest growth in China, followed by ROW and the Asia-Pacific regions, reports the market researcher.
Although North America, Europe and Japan will all show positive growth, Bishop & Associates said they will not be at the levels prior to the downturn.
The report indicates that projected connector sales to the North American military sector will not be equal to or above 2008 connector sales until 2011, while in Japan and Europe, connector sales to the military sector are projected to decline close to 10 percent or more in 2009, and will not be equal to or greater than 2008 sales until 2012. Total world connector sales to the military sector is expected to be equal to or greater than 2008 sales levels by 2011, said Bishop & Associates.