Aircraft Wires and Cables Market size was valued at 1.7 Billion in 2022. The Aircraft Wires and Cables industry is projected to grow 2.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.70% during the forecast period (2022 - 2032)
Aircraft wires and cables are used for the functioning of the aircraft to ensure electrical safety by preventing fires and dangerous fumes and to offer enhanced safety to passengers. Furthermore, stringent government regulations regarding aircraft wiring and cabling require aircraft manufacturers to invest in regular maintenance and inspection. For instance, the US Federal Aviation Administration (FAA) provides guidelines for the maintenance and inspection of electrical wiring interconnection systems (EWIS) and fuel tank wiring.
The number of passengers carried by airlines increased from 4 billion passengers in 2020 to 4.3 billion passengers in 2027; therefore, the increase in air traffic and the subsequent demand for new aircraft are key factors propelling the growth of the global aircraft wires and cables market. Additionally, rise in focus on aircraft modernization programs and growing emphasis on aviation safety are boosting the market growth. However, backlog in new commercial aircraft deliveries is expected to hamper the market growth.
Based on Type
The global aircraft wires and cables market has been divided into aircraft wire, aircraft cable, and aircraft harness. In 2018, the aircraft harness segment dominated the market. However, the aircraft wire segment is estimated to expand at the highest CAGR during the forecast period of 2019 to 2025. The increasing demand for new aircraft from airlines to cater to the rising air passenger traffic is expected to drive the segment growth. Furthermore, aircraft wires are required for connecting various parts of the aircraft such as cockpit, engine, wings, and fuselage. Hence, the segment is anticipated to expand at the highest CAGR during the forecast period.
Based on Fit
The market has been bifurcated into line-fit and retrofit. The retrofit segment dominated the market in 2018. However, the line-fit segment is estimated to expand at a higher CAGR during the forecast period. The line-fit refers to wires and cables that are installed on the production line by the aircraft manufacturer. The line-fit of aircraft wire and cables minimize the need for customization and hence decreases the time taken to deploy the aircraft. Therefore, the segment is expected to register a higher growth rate during the forecast period.
Based on Type
The aircraft wires and cables market has been segregated into military aircraft and civil aircraft. The civil aircraft segment dominated the market in 2018 and is expected to register a higher CAGR during the forecast period. Factors such as increasing air passenger traffic and decrease in airfares are expected to drive the segment growth.
Based on Application
The market has been classified as lighting, flight control system, power transfer, data transfer, avionics, and others. The flight control system segment dominated the market in 2018. However, the lighting segment is anticipated to expand at the highest CAGR during the forecast period. Increase in investments by aircraft OEMs in installing advanced cabin interior and exterior lighting is expected to fuel the growth of the segment as wires and cables assist in transferring energy to light up high-intensity mood lighting, beacons, and lights.
Based on Region
The global aircraft wires and cables market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America dominated the global market in 2018 owing to the presence of prominent aircraft manufacturers such as Boeing. However, the market in Asia-Pacific is expected to grow at the fastest rate during the forecast period. Rising air passenger traffic in emerging economies, such as China and India, is propelling the growth of the aircraft wires and cables market in Asia-Pacific. According to the International Air Transport Association (IATA), the air passenger traffic in Asia-Pacific is expected to reach 8.2 billion by 2037. Hence, rising air passenger traffic is boosting the demand for new aircraft in the region. According to Boeing, 16,930 aircraft were delivered in Asia-Pacific in 2018.
Key players in the global aircraft wires and cables market are Amphenol Corporation (US), AMETEK, Inc. (US), Arrow Electronics, Inc. (US), Carlisle Companies Inc. (US), Leviton Manufacturing Co., Inc. (US), The Angelus Corporation (US), Radiall (France), Collins Aerospace (US), TE Connectivity (Switzerland), W.L.Gore & Associates, Inc. (US), NEXANS (France).
Recent Development
TE Connectivity Ltd. (NYSE:TEL):
Carlisle Interconnect Technologies (NYSE:CAR):
W.L. Gore & Associates (Private Company):
Research Methodology
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
Secondary Research
In this process, data is collected from various secondary sources including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
Key Insights
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)