Connector Sales to Utilities up 46% – an all-time high #Engineering #ConnectorSales #Utilities

In its final report for 2022, ITSA members have seen a marked increase in sales into the utilities market, helping to offset declines in other areas, such as Mil/Aero and Mass Transport and contributing towards sustaining an overall 10% growth.

Other Key Stats: –

• Revenues are flat YTD 2022 v YTD 2021.
• Importantly, revenues are still at +8% over pre-pandemic levels
• Book-to-Bill for the quarter was 1:1 but remains positive YTD
• All members key markets continue to show growth, but with some notable exceptions.
• Mil/Aero, a key contributor to members revenues, is down 8% over 2021.
• Distribution remains a major contributor – now 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. Unfortunately, this is somewhat offset by decline in both the Mil/Aero and Mass Transport markets.

Whilst the UK connector market continues to face significant challenges, it remains remarkably resilient and as 2022 continues with positive trends in most markets, it will have been an exceptional year for ITSA members.

A copy of the ITSA 2022 Report is available for download and for further information on ITSA:https://itsa.org.uk/