Slip Ring Market Expected to Reach $1.7 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Slip Ring Market," The slip ring market was valued at $1.3 billion in 2022, and is estimated to reach $1.7 billion by 2032, growing at a CAGR of 3.2% from 2023 to 2032.

A slip ring, also known as a rotary electrical joint, is a device used to transmit electrical signals and power between a stationary structure and a rotating component. It is commonly used in electromechanical systems where continuous rotation is required while maintaining the transfer of electrical signals or power. The slip ring consists of two main parts: the stationary part called the stator, which is mounted on the stationary structure, and the rotating part called the rotor, which is attached to the rotating component.

Slip ring market analysis play a crucial role in aerospace & defense systems, providing reliable power and signal transmission in critical applications. As defense budgets continue to rise in many countries, there is a growing emphasis on enhancing military capabilities. This increased spending leads to the development and procurement of advanced aerospace & defense systems, which require reliable slip rings for power and data transmission. Moreover, modern radar systems used in aerospace & defense applications require slip rings to enable 360-degree rotation without any interruption in power or signal transmission. Slip rings allow for continuous rotation of the antenna, ensuring seamless tracking and monitoring of targets. Furthermore, slip rings are crucial components in missile guidance systems.

They facilitate the transmission of critical data and control signals between the guidance system and various components, such as sensors, gyroscopes, and control surfaces. The accuracy and reliability of these systems depend on the seamless operation of slip rings. The increasing defense spending, the demand for advanced radar and missile systems, satellite communication systems, the proliferation of UAVs, and the need for reliable performance in harsh environments are driving the demand for slip ring market size in the aerospace & defense industry.

However, slip rings require regular maintenance to ensure smooth operation. This includes cleaning, lubrication, and inspection of the contacts to prevent corrosion and ensure proper electrical conductivity. In applications where frequent maintenance is impractical or disruptive, such as in remote or inaccessible locations, the need for periodic maintenance can be a constraint. Moreover, slip rings involve physical contact between the rotating and stationary parts, which can result in wear over time. The friction and mechanical stress can cause degradation of the contacting surfaces, leading to increased electrical resistance, signal degradation, or even failure. The wear and tear of slip rings may require replacements or repairs, adding to the maintenance costs and potential downtime. Moreover, the maintenance and wear of slip rings can be further influenced by environmental factors such as temperature, humidity, dust, and vibrations. Harsh conditions, such as extreme temperatures or corrosive environments, can accelerate the wear and degradation of slip rings, requiring more frequent maintenance and replacement.

Slip rings facilitate the transfer of high-frequency signals, data, and power between the stationary and rotating components of medical devices. In complex equipment like MRI machines, CT scanners, and X-ray equipment, slip rings ensure uninterrupted communication between the rotating gantry and the stationary control systems, enabling accurate image acquisition and transmission. Moreover, slip rings allow for the integration of various components within medical devices. They enable the rotation of imaging components, such as X-ray tubes or MRI coils, while maintaining electrical connections for power supply and signal transmission. This rotational capability enhances the functionality of medical equipment, enabling precise and dynamic imaging. Slip rings are designed to withstand continuous rotation and demanding operational conditions. In medical equipment, where reliability and precision are crucial, slip rings provide a dependable solution for transmitting signals and power without interruption or signal degradation. Their durable construction ensures consistent performance and minimizes downtime. These factors are anticipated to boost slip ring market growth in the upcoming years.

The slip ring market share is segmented on the basis of product type, end user, and region. By product type, it is classified into mercury-wetted slip rings, pancake slip rings, wireless slip rings, and others. By end user, it is classified into aviation & aerospace, defense, space, heavy equipment, and others. By region, the slip ring market is analyzed across North America, Europe, Asia-Pacific, and Latin America.

The key players profiled in the slip ring market report include Schleifring GmbH, Michigan Scientific Corporation, Moog Inc., Cobham Plc, Electro-Miniatures Corporation, United Equipment, Accessories, Inc, NSD Corporation, Conductix-Wampfler, STEMMANN-TECHNIK, and Rotac Co. Ltd.

The report offers a comprehensive analysis of the global slip ring market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of COVID-19 on the Global Slip Ring Industry

• The pandemic led to disruptions in global supply chains due to lockdown measures, travel restrictions, and reduced manufacturing activities. These disruptions affected the availability of raw materials, components, and finished products required for the production of slip rings.
• Many industries, such as automotive, aerospace, and industrial machinery, experienced a decline in demand during the pandemic due to economic uncertainties and reduced consumer spending. This decline in demand affected the sales of slip rings, as they are widely used in various applications within these industries.
• Manufacturing facilities faced challenges in maintaining regular operations due to workforce shortages, social distancing requirements, and other safety measures. These challenges impacted the production capacity and lead times for slip rings.

Key Findings of the Study

• Based on product type, the pancake slip rings sub-segment emerged as the global leader in 2022 and the wireless slip rings sub-segment is anticipated to be the fastest growing during the forecast period.
• Based on end user, the space sub-segment emerged as the global leader in 2022 and the heavy equipment sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on region, North America registered the highest market share in 2022 and Asia-Pacific is projected to be the fastest growing during the slip ring market forecast period.