(Aviation-NewsWire.Com, November 13, 2021 ) The report "Aircraft Wire and Cable Market by Type (Harness, Wire, Cable), Application (Power Transfer, Data Transfer, Flight Control System, Avionics, Lighting), Fit (Linefit, Retrofit), Aircraft Type (Civil, Military), and Region - Global Forecast to 2022", is projected to grow from an estimated USD 695.2 million in 2017 to USD 926.4 million by 2022, at a CAGR of 5.91% between 2017and 2022.
Increased number of orders for new aircraft across the globe, upgradation of aircraft with new wire harness and increase in demand for more electric aircraft and glass cockpit concept are the few major factors driving the aircraft wire and cable market.
Aircraft Wire and Cable Market
Based on type, the wire segment is projected to grow at the highest CAGR during the forecast period
Based on type, the aircraft wire and cable market has been segmented into aircraft wire, harness and cable. The wire segment of the aircraft wire and cable market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for new aircraft from airlines which has direct impact upon the aircraft manufacturers for procuring more wires from the suppliers.
Based on application, the lighting segment is projected to grow at a higher CAGR during the forecast period
Based on application, the lighting segment of the aircraft wire and cable market is estimated to grow at a higher rate during the forecast period. The growth of this segment can be attributed to the replacement/retrofiting of wires and cable for cabin lighting and interior and exterior lighting of an aircraft. Wires and cables are used to transfer the energy required to power up high-intensity lights, lamps, beacons, etc.
Based on fit, the linefit segment is expected to grow at a higher CAGR than the retrofit segment during the forecast period
Based on fit, the linefit segment of the aircraft wire and cable market is projected to grow at a higher CAGR than the retrofit segment during the forecast period. The higher growth rate of the linefit segment is attributed to the increase in aircraft orders as well as deliveries, economic growth across regions, and an increase in air passenger traffic.
Based on aircraft type, the civil aircraft segment is estimated to grow a higher CAGR during the forecast period
Based on aircraft type, the civil aircraft segment is projected to grow at a higher CAGR during the forecast period. The civil aircraft segment has been witnessing significant growth in the past few years due to increasing air traffic and rise in the disposable incomes of middle-class populations across the globe. According to the Boeing Global Market Outlook, 2017, 29,350 single-aisle airplane orders are expected to be delivered by 2036 across worldwide. Moreover, there has been an increase in procurement in Low-Cost Carriers (LCCs) worldwide.
The Asia Pacific market is expected to witness the highest growth during the forecast period
Among regions, the aircraft wire and cable market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period. The aviation industry is growing at a significant pace, due to increasing air passenger traffic and improving economic conditions in the region. The growth in air passenger traffic has resulted in increased demand for new lightweight and fuel-efficient aircraft from the region. In addition, new emerging aircraft manufacturers in China, Japan, and India are expected to fuel the demand for aircraft wire and cable during the forecast period.
Major companies profiled in the aircraft wire and cable market report are TE Connectivity (Switzerland), Amphenol (US), Rockwell Collins (US), AMETEK (US), Radiall (France), Carlisle Companies (US), Pic Wire & Cable (US), W.L. Gore & Associates (US), A.E.Petsche (US), and Leviton (US), among others.
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