ITSA members have seen a 10 per cent overall growth in sales, despite a decline in mil/aero and mass transport markets.
However, while sales have grown, both revenues and the book-to-bill ratio are flat. Other key stats include: revenues remain eight per cent over pre-pandemic levels; all members’ key markets show growth, with some exceptions; distribution remains a major contributor, well above pre-pandemic levels.
Most UK markets continue to perform well with communications, data processing, broadcast, utilities and industrial leading the way, all with significant double-digit growth. This is offset by decline in both mil/aero and mass transport.
Whilst the UK connector market faces challenges, it remains resilient and 2022 was an exceptional year for ITSA members.