Dublin, Feb. 22, 2022 (GLOBE NEWSWIRE) -- The "Global Aircraft Wire and Cable Market by Type, Application, Aircraft Type, Conductor Material, Insulation Type, End User and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global market for aircraft wire and cable is estimated to be USD 1.5 billion in 2021 and is projected to reach USD 1.9 billion by 2026, at a CAGR of 5.7% during the forecast period. The growth of this market is mainly driven by the digitalization and electrification of aircraft systems, increase in aircraft renewals and aircraft deliveries and growing technological developments.
The harness segment is estimated to lead the market during the forecast period, with a share of 47% in 2021. In the aerospace industry, aircraft contains miles of wiring harnesses. Applications in the aerospace industry include engine, fuselage, wing, landing gear, avionics, and a host of other functions. Aircraft wire harness also includes composite, Ethernet, data bus, RF coaxial and speciality cable assemblies such as MS3154.
Based on aircraft type, the UAV segment is projected to be the highest CAGR rate for the aircraft wire and cable market during the forecast period. Unmanned aircraft systems (UAS) or drones, these smaller aircraft help ground troops cover more territory more safely. The increased surveillance and reconnaissance capabilities of these small UAS depend on payloads that may include multiple cameras and sensors for a variety of frequencies, such as infrared, thermal, and visible light, as well as sophisticated embedded computing and storage devices. Since flight time depends on how much weight the aircraft carries, these increased payloads can make keeping weight down a challenge. As a result of efforts to optimize swap, trends in connectors and cabling include lighter weight materials, quick disconnects, multiple ports and multi-functions, and compact cabling.
Based on the application, the avionics segment is projected to grow at the highest CAGR rate for the aircraft wire and cable market during the forecast period. As the aircraft have changed their avionic systems to digital the aircraft wire and cable companies need to provide new avionics systems for the aerospace industry.
Based on the conductor material, the copper alloy segment is projected to grow at the highest CAGR rate for the aircraft wire and cable market during the forecast period. Copper wires are widely used in the aerospace industry because of their electrical properties. In aircraft, copper is used primarily in the electrical system for bus bars, bonding, and as lock wire. Copper is the electrical conductor in many categories of electrical wiring. Copper wire in aircraft is used for power generation, power transmission, power distribution for telecommunications, electronics circuitry, and countless types of electrical equipment.
The aircraft wire and cable market in North America is projected to hold the highest market share during the forecast period. North America accounted for the largest share of 35.5% of the aircraft wire and cable market and is expected to grow at a CAGR of 5.8% during the forecast period.
Premium Insights
- Attractive Growth Opportunities in Aircraft Wire and Cable Market - Demand for Inflight Experience to Drive Market from 2021 to 2026
- Aircraft Wire and Cable Market, by Aircraft Type - Fixed-Wing Aircraft Segment Projected to Lead Market, 2021-2026
- Aircraft Wire and Cable Market, by Application - Flight Control System Segment Projected to Dominate Market from 2021 to 2026
- Aircraft Wire and Cable Market, by Country - France Projected to Grow at Highest CAGR from 2021 to 2026
Market Dynamics
Drivers
- Increased Demand for Wires & Cables with Rise in Aircraft Orders
- Digitalization and Electrification of Aircraft Systems
- Development of Innovative Aircraft Solutions
Restraints
- Delay and Backlog in Aircraft Deliveries
- Reduced Demand for Wires due to Wireless Transmission
Opportunities
- Aircraft Wiring Demand for Interconnect Solutions
- Demand for Electric Aircraft and Glass Cockpits
- Rising MRO Activities in Developing Economies
Challenges
- Complexities with Installing & Upgrading Wire Harnesses
- Additional Weight of Insulation and Shielding
- Accidents Caused due to Aircraft Wiring Failure
- Impact of COVID-19
Companies Mentioned
- A.E. Petsche
- Ametek Smp
- Amphenol Corporation
- Axon Cable
- Bergen Cable
- Carl Stahl Sava Industries, Inc.
- Carlisle Interconnect Technologies
- Collins Aerospace
- Eaton Corporation
- Glenair, Inc
- Griplock System
- Harbour Industries
- Huber+Suhner
- Judd Wire, Inc.
- Leviton
- Lexco Cable, Inc.
- Molex
- Nexans SA
- Pic Wire & Cable
- Prysmian Group
- Radiall
- Sanghvi Aerospace (P.) Ltd.
- TE Connectivity
- Tyler Madison, Inc.
- W.L. Gore & Associates Inc.
For more information about this report visit https://www.researchandmarkets.com/r/t8rve3
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