Aircraft Wire and Cable Market
The report on the aircraft wire and cable market provide a detailed trend analysis from 2017 to 2026. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market.
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, an increase in aircraft renewals and aircraft deliveries, and growing technological developments.
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Based on type, the harness segment is estimated to lead the market during the forecast period, with a share of 47% in 2021. The wire harness is an assembly of electrical cables or wires which transmits signals or electrical power throughout an aircraft. In the aerospace industry, aircraft contain 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 specialty 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 aircraft have changed their avionic systems to digital 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.
Based on insulation type, the thermoplastic segment is projected to grow at the highest CAGR rate for the aircraft wire and cable market during the forecast period. A new class of thermoplastic composites has strength and modulus (stiffness) values comparable to metals and thermosets. The technology involves continuous glass fibers or carbon fibers embedded in a thermoplastic polymer matrix, usually consisting of polyetheretherketone (PEEK) or Ultem PEI (polyetherimide). The composites are made from high-performance, thermally stable plastics and hence can be used at elevated temperatures.
Based on end users, the OEM segment is projected to grow at the highest CAGR rate for the aircraft wire and cable market during the forecast period. OEMs are responsible for the integration of wires and cables into aircraft systems during the assembly stage. After the reduction in the market in 2020, the aircraft industry is recovering gradually with an increase in air passenger traffic, which is driving the aircraft wire and cable sector.
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. The presence of major wire and cable manufacturers like Amphenol Corporation and CarlisleIT is one of the major reasons for the growth. The presence of aircraft manufacturers like Boeing and Lockheed Martin which are the major military players in the world is also one of the reasons for the growth of the market in this region.
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