DUBLIN- According to ResearchAndMarkets.com, The global aerospace wires & cables market is expected to grow at a promising CAGR of 6.9% to reach a sales figure of US$ 0.9 billion in 2027.
Wires & cables are often considered a commodity product and form a crucial component in an aircraft. Wires form cables, cables form wire harnesses and harnesses assembled along with other components such as conduits and sleeves, backshells, connectors, etc. form the wiring system or electronic wiring interconnect system (EWIS). Being one of the building block elements in aircraft functioning, wires & cables have ceaselessly been in demand with a gradual increase of usage in modern aircraft.
For instance, Boeing 737 has ~40 miles of wires & cables. The company almost doubled the wires & cables consumption to 100 miles in its B767 program and further tripled to 310 miles in its B787 program. A similar trajectory has been recorded for the Airbus programs. Aerospace wires & cables are required to conform to several predetermined standards, distinct to each region. They are used in a wide range of applications such as avionics, lighting, and flight control surfaces.
The emergence of the pandemic in 2020, left the aerospace industry in shambles. The industry stakeholders incurred heavy losses and were forced to resort to extreme measures and reorient their age-old strategies in order to ensure survival and long-term stability. However, after the passing of the relapse waves of COVID-19 accompanied by massive vaccination drives carried out by nations across the globe, different aircraft segments began to recover from 2021.
The industry’s rebound had a mirroring impact on the aerospace wires and cable market, as the market recorded a positive YoY (5.9%) during 2020-2021. Key factors fuelling the growth of the market in the long run are rebounding commercial aircraft production, ageing aircraft fleet size, increasing use of wires & cables in modern aircraft, and fervent efforts toward developing electric aircraft.
Based on the product type, we have segmented the market as hook-up wires, coaxial cables, data bus cables, power cables, and others. Hook-Up wires held the largest share of the market in 2021. Data bus cables weren’t far behind and captured around one-fourth share in 2021. Data bus cables are widely used in avionics, in-flight entertainment, and communication needs. The latter is also expected to record the fastest long-term growth during the forecast period.
Based on the application type, the market is classified as avionics, interiors, propulsion system, airframe, and others. Interior applications are likely to be the key demand generators for wires and cables during the forecast period. The avionics segment is expected to record significant growth during the forecast period. High-speed, lightweight, compact, and durable wires & cables are most key requirements for avionics applications.
With the highest growth (YoY) in the demand for aerospace wires & cables in 2021, Asia-Pacific is expected to remain the fastest-growing market during the forecast period. On the other hand, North America is likely to take lead in the market, driven by a robust supply chain with the presence of several stakeholders. Key wires & cables suppliers in the region are Carlisle Companies, Inc., Judd Wire, Inc., W. L. Gore & Associates, Inc., and Amphenol Corporation.
The aerospace wires & cables market has remained mostly latent in the past few years with no significant mergers & acquisitions. The sudden outburst of the pandemic has only added to the inertia of the market. For instance, the fallout of the Carlisle-Prysmian deal for the acquisition of Draka in 2020, is an imperative survival strategy to maintain cash liquidity. The key players in the aerospace wires & cables market are:
- Carlisle Companies, Inc.
- Nexans S.A.
- TE Connectivity
- Judd Wire, Inc.
- Draka Fileca SAS (Prysmian)
Development of customized solutions for key customers, advancements in wires & cables, and a continuous drive towards betterment and high-performance solutions are some of the key strategies adopted by the major players to gain a competitive edge in the market.
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
Key Topics Covered:
1. Executive Summary
2. Aerospace Wires & Cables Market Environment Analysis
2.1. Supply Chain Analysis
2.2. PEST Analysis
2.3. Industry Life Cycle Analysis
2.4. Market Drivers
2.5. Market Challenges
3. Aerospace Wires & Cables Market – The COVID-19 Impact Assessment
3.1. Aerospace Wires & Cables Market Trend and Forecast (US$ Million)
3.2. Pre-COVID vs Post-COVID Assessment
3.3. Real GDP Loss vs Aerospace Wires & Cables Market Loss (2020-2024)
3.4. Market Scenario Analysis: Pessimistic, Most Likely, and Optimistic Scenarios
4. Aerospace Wires & Cables Market Assessment (2016-2027)
4.1. Platform-Type Analysis
4.1.1. Commercial Aircraft: Regional Trend and Forecast (US$ Million)
4.1.2. Regional Aircraft: Regional Trend and Forecast (US$ Million)
4.1.3. General Aviation: Regional Trend and Forecast (US$ Million)
4.1.4. Military Aircraft: Regional Trend and Forecast (US$ Million)
4.1.5. Helicopter: Regional Trend and Forecast (US$ Million)
4.1.6. Others: Regional Trend and Forecast (US$ Million)
4.2. Product-Type Analysis
4.2.1. Hook-Up Wires: Regional Trend and Forecast (US$ Million)
4.2.2. Coaxial Cables: Regional Trend and Forecast (US$ Million)
4.2.3. Data Bus cables: Regional Trend and Forecast (US$ Million)
4.2.4. Power Cables: Regional Trend and Forecast (US$ Million)
4.2.5. Others: Regional Trend and Forecast (US$ Million)
4.3. Insulation-Type Analysis
4.3.1. PTFE Tape: Regional Trend and Forecast (US$ Million)
4.3.2. Polyimide Tape/PTFE Tape: Regional Trend and Forecast (US$ Million)
4.3.3. Polyimide Tape/UV Laser Markables: Regional Trend and Forecast (US$ Million)
4.3.4. Others: Regional Trend and Forecast (US$ Million)
4.4. Application-Type Analysis
4.4.1. Avionics: Regional Trend and Forecast (US$ Million)
4.4.2. Interiors: Regional Trend and Forecast (US$ Million)
4.4.3. Propulsion System: Regional Trend and Forecast (US$ Million)
4.4.4. Airframe: Regional Trend and Forecast (US$ Million)
4.4.5. Others: Regional Trend and Forecast (US$ Million)
4.5. Regional Analysis
5. Competitive Analysis
5.1. Market Consolidation Level
5.2. Competitive Landscape
5.3. Market Share Analysis
5.4. Product Portfolio Analysis
5.5. Geographical Presence
5.6. New Product Launches
5.7. Strategic Alliances
5.8. Porter’s Five Forces Analysis
6. Strategic Growth Opportunities
6.1. Market Attractiveness Analysis
6.1.1. Market Attractiveness by Platform Type
6.1.2. Market Attractiveness by Product Type
6.1.3. Market Attractiveness by Insulation Type
6.1.4. Market Attractiveness by Application Type
6.1.5. Market Attractiveness by Region
6.1.6. Market Attractiveness by Country
6.2. Growth Matrix Analysis
6.3. Strategic Implications
6.4. Key Success Factors (KSFs)
7. Company Profile of Key Players (Alphabetically Arranged)
7.1. Amphenol Corporation
7.2. Carlisle Companies, Inc.
7.3. Draka Fileca SAS (Prysmian S.p.A.)
7.4. Judd Wire, Inc.
7.5. Nexans S.A.
7.6. TE Connectivity
7.7. W.L. Gore & Associates
For more information about this report visit https://www.researchandmarkets.com/r/bk2sxg