A Changing Landscape in the Connector Industry

A Bishop & Associates analysis of the top 100 connector manufacturers in 2024 sales reveals the impact of multiple acquisitions.  

At Bishop & Associates, as we prepare our analysis and ranking of the top 100 of 2024, we realize that many of the companies represented in past years are no longer listed. And, for others who are still listed in the top 100 of 2024, this will be the last year they will be recorded as a standalone company. Although in the past we have talked about how much the Top 100 and even the Top 10 have changed over the last several decades, it isn’t until you start to look at the size of those at the top and compare them to those at the bottom, do you realize that although the names may have changed, their total effect on the world connector market has resulted in limited change in the percentage of the total connector market they represent.

As an example of how little in retrospect the top 10 have changed, 25 years ago in 2000, the top 10 connector manufacturers represented approximately $17.5 billion of the $35.7 billion total connector market or roughly 49.0%. In 2024, the top 10 will represent approximately $46.0 billion or 53.2% of the top 10. This is only a difference of 4.2% over a span of 25 years.

Another interesting comparison is that in 2000, the number one connector manufacturer, TE Connectivity (Referred to as Tyco Electronics at that time), represented 13.2% of the total world connector market and in 2024, they represented 14.8%, a difference of only 1.6%. What is also interesting to note is that during those 25 years, Amphenol, which ranked as low as number six in 2003, has ranked as the number two connector manufacturer over the last 21 years. And, what makes this comment even more compelling is that Amphenol is rapidly closing the gap between the number one and the number two positions!

Top 10 Share of Market

When published, the top 100 report will provide some interesting findings. Among these are:

• TE Connectivity had 13.2% share of the market in 2000, increasing that to 14.8% in 2024.
• Amphenol Corporation, via an aggressive acquisition program, moved from being ranked number six in 2000 to number two in 2024. It is quite possible that Amphenol will be ranked the largest connector company in 2025.

Putting aside the gap between the number one, two, and even the number three position is the change in players ranked five through 50. In some ways it is sad to see these companies fall off the list, like having an old friend move, but in other ways it is exciting to see how these changes affect the connector landscape.

One of the most interesting acquisitions is that of CommScope by Amphenol. Completed in January 2025, 2024 will be the last year that CommScope will be listed as a standalone company. In 2023, CommScope was ranked as the 26^th largest connector manufacturer in the world with connector sales of more than $425 million. Of course, all these sales will now transfer to Amphenol, boosting them closer to the number one position, and opening a new position at the bottom of the list.

Another acquisition of significance is Molex’s acquisition of AirBorn. Completed in December of 2024, like CommScope, the 2024 Top 100 list will be the last year that AirBorn stands as an individual company. Ranked number 43 in 2023, AirBorn not only brings over $250 million in connector sales, but will also allow, for the first time, Molex an opportunity to potentially rank in the top 10 in the military/aerospace market. The new Molex division, led by AirBorn’s Michael Cole, is anticipated to “drive expansion into aerospace and defense, space exploration, commercial air, and other industry sectors.”

Reviewing 2023, we immediately notice several connector manufacturers are no longer listed. One of the most significant of these was Carlisle Interconnect Technologies (CIT). Acquired by Amphenol in May of 2024, CIT was ranked number 24 in 2023, with connector sales of more than $440 million. With over 40% of their business focused on the military/aerospace market, the acquisition of CIT firmly cemented Amphenol as the largest manufacturer of connectors for the military/aerospace market sector. It is important to note that in 2023, Amphenol acquired 10 companies. Although they are not all connector companies, all provided additional revenue.

Stepping back a few more years and expanding our list to include all companies ranked one to 100, we continue to see important connector companies slowly departing our list. Acquired by Amphenol in very early 2021, 2020 was the last year that Positronic was listed as a standalone company. Ranked number 79 in 2020, with connector sales exceeding $75 million, Positronic provided a number of niche products to Amphenol’s already broad rectangular product offering.

Another acquisition that occurred in 2021 that caused another well-known connector manufacturer to drop off the top 100 connector manufacturers list was TE Connectivity’s September acquisition of ERNI Group AG. Ranked number 46 in 2020, ERNI had connector sales exceeding $175 million and an “extensive line of high-speed and fine-pitch connectors for factory automation, automotive, medical, and other industrial applications,” augmenting “TE’s engineering and manufacturing footprint and capabilities in-board connectivity, while expanding TE’s customer base and presence in several attractive market segments.”

Souriau, ranked number 29 in 2019 with connector sales of almost $350 million, is another company that dropped off our list of top 100 connector manufacturers. Acquired by Eaton, which at the time was ranked number 78 with connector sales of around $80 million, Souriau quickly brought Eaton up in the ranking to place within the top 50. In fact, in 2019 Eaton was ranked number 25 with connector sales of more than $375 million.

2018 was the last year that Winchester was listed as a standalone company. A company that had done its fair share of acquisitions, including the acquisition of Kings, TRU, Clements National, Continental Connector, Bomar, and Advanced Interconnect, Winchester was acquired by Aptiv in late 2018. Ranked number 35 in 2018, the acquisition of Winchester opened several new markets for Aptiv, along with providing over $315 million in connector sales in 2019.

Bishop will publish the Top 100 Connector Manufacturers at the beginning of August. To order a copy of this report, please visit our store site. This fall, look for Bishop & Associates’ annual series of Top 10 by region, market sector, and product type. These will be posted on TTI’s MarketEYE, in Connector Supplier, and in the Bishop News Brief, delivered to Bishop Report subscribers. Become a Bishop report subscriber for more connector industry news and analysis.

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