USD 1.5 billion
Aircraft Wire and Cables Market Size, Share, Growth Analysis, By Type(Aircraft wire, aircraft cable, and aircraft harness), By Fit(Line-fit and retrofit), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20A2111 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
61
|Figures:
75
Aircraft Wire and Cables Market Insights
Aircraft Wire and Cables Market size was valued at USD 2.34 billion in 2022 and is poised to grow from USD 2.47 billion in 2023 to USD 3.85 billion by 2031, growing at a CAGR of 5.70% during the forecast period (2024-2031).
The steady growth of the aviation industry, including commercial and military aviation, is a major driver for the aircraft wire and cables market. Increasing air travel, rising defense budgets, and the expansion of regional airlines create a higher demand for aircraft, leading to a greater need for wiring and cables.
Advancements in aerospace technologies have resulted in the development of lightweight, high-performance, and durable wire and cable solutions. These innovations not only improve aircraft performance but also lead to enhanced safety and fuel efficiency, driving the market's growth.
Many airlines and defense forces are upgrading their aging aircraft fleets with newer, more fuel-efficient, and technologically advanced models. This modernization effort often requires the replacement of existing wire and cable systems with newer ones, stimulating the demand in the market.
Aircraft manufacturers are increasingly focusing on electrical systems as an alternative to hydraulic systems. Electrical systems are lighter, consume less power, and offer greater reliability. This shift necessitates the adoption of advanced wiring and cables to support the electrical infrastructure in aircraft.
US Aircraft Wire and Cables Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
aircraft cable
Fastest Growth
aircraft cable
Growth Rate
5.7% CAGR
Global Aircraft Wire and Cables Market ($ Bn)
Country Share for North America Region (%)
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Aircraft Wire and Cables Market Segmental Analysis
The global aircraft wire and cables market is segmented on the basis of type, fit, and region. On the basis of type, the global aircraft wire and cables market has been divided into aircraft cable, aircraft wire, and aircraft harness. Based on fit, the market has been Divided into line-fit and retrofit. By aircraft type, the aircraft wire and cables market has been segregated into military aircraft and civil aircraft. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Aircraft Wire and Cables Market Analysis By Type
The largest segment is the aircraft cable category, reigning supreme with a substantial market share of approximately 50%. This segment's prominence can be attributed to the critical role aircraft cables play in ensuring reliable and secure electrical connections throughout the aircraft. With the ever-increasing complexity of modern aircraft systems and the demand for enhanced safety and performance, the need for high-quality and durable cables becomes paramount, thus propelling the dominance of the segment.
Concurrently, the aircraft harness segment emerges as the fastest-growing niche within the aircraft wire and cables market, boasting an impressive growth rate of approximately 12% CAGR. The soaring popularity of this segment is driven by the rising adoption of advanced avionics and electrical systems in next-generation aircraft. As airlines and manufacturers prioritize lightweight and technologically sophisticated aircraft, the demand for efficient and well-designed aircraft harnesses continues to soar, making it the beacon of opportunity and growth in the global aircraft wire and cables market.
Aircraft Wire and Cables Market Analysis By Fit
The largest segment is undoubtedly the line-fit category, reigning supreme with a significant market share of approximately 70%. This segment's prominence can be attributed to the preference of aircraft manufacturers to incorporate high-quality wire and cable solutions directly during the aircraft assembly process. As modern aircraft are designed and built with advanced avionics and electrical systems, the demand for reliable and efficient wire and cable installations right from the production stage drives the dominance of the segment.
On the other hand, the retrofit segment emerges as the fastest-growing niche within the aircraft wire and cables market, boasting an impressive growth rate of around 10% CAGR. As airlines and operators strive to enhance aircraft performance and efficiency, retrofitting with advanced wire and cable solutions becomes essential. Moreover, the retrofit option allows for cost-effective improvements, making it an attractive choice for upgrading older aircraft models with modern electrical systems, further propelling the growth of the segment.
Global Aircraft Wire and Cables Market By type
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Aircraft Wire and Cables Market Regional Insights
In the dynamic global aircraft wire and cables market, two regions stand out prominently, with one dominating the landscape and the other showcasing remarkable growth potential. North America emerges as the dominating region, reigning supreme with the largest market share. This dominance can be attributed to the strong presence of leading aircraft manufacturers and the region's status as a hub for aviation technology innovation. With a vast fleet of modern aircraft and a growing emphasis on safety and performance, the demand for high-quality wire and cable solutions in North America remains consistently high, positioning it as the epicenter of the aircraft wire and cables market.
Meanwhile, the Asia-Pacific region shines as the fastest-growing sector within the aircraft wire and cables market, boasting an impressive growth rate. The region's aviation industry has been witnessing unprecedented expansion, driven by the rising air travel demand, burgeoning commercial aviation sector, and increasing defense spending. As airlines and aircraft operators in the Asia-Pacific region invest in fleet modernization and upgrading, the demand for advanced wire and cable solutions skyrockets, providing an attractive landscape for manufacturers and suppliers. Moreover, the region's growing economy and population are fueling the demand for air travel, further contributing to the remarkable growth of the aircraft wire and cables market in the Asia-Pacific.
Global Aircraft Wire and Cables Market By Geography
- Largest
- Fastest
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Aircraft Wire and Cables Market Dynamics
Aircraft Wire and Cables Market Drivers
Fleet Modernization Efforts
- Airlines and operators worldwide are engaged in fleet modernization initiatives to enhance fuel efficiency, reduce maintenance costs, and comply with stringent safety regulations. The need to upgrade older aircraft with advanced wire and cables to support new systems and avionics is driving market growth.
- The aviation industry's emphasis on reducing aircraft weight to improve fuel efficiency and environmental sustainability is increasing the demand for lightweight wire and cable products without compromising on performance and safety.
Aircraft Wire and Cables Market Restraints
Stringent Regulatory Standards
- The aviation industry is subject to strict safety and certification standards, and compliance with these regulations poses challenges for wire and cable manufacturers and suppliers.
- Fluctuations in the prices of raw materials used in wire and cable manufacturing can impact production costs and overall market growth.
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Aircraft Wire and Cables Market Competitive Landscape
The wires and cables market was highly competitive, with several established players and a significant number of regional and local manufacturers vying for market share. These industry giants had a strong global presence, leveraging their extensive product portfolios, technological expertise, and distribution networks to maintain their competitive edge. Innovation and product differentiation played a crucial role in the competitive landscape of the wires and cables market. Companies were continuously investing in research and development to introduce advanced and high-performance products, such as fiber optic cables, high-temperature cables, and low-loss transmission cables, to cater to the evolving demands of customers and industries. Moreover, sustainability and environmental consciousness emerged as significant factors influencing the competitive dynamics. Companies that demonstrated commitment to eco-friendly manufacturing processes and materials gained a competitive advantage as consumers and businesses increasingly favored products with reduced environmental impact.
Aircraft Wire and Cables Market Top Player’s Company Profiles
- Prysmian Group - Italy
- Nexans - France
- Southwire Company - United States
- General Cable Corporation - United States
- Furukawa Electric Co., Ltd. - Japan
- LS Cable & System - South Korea
- Leoni AG - Germany
- Sumitomo Electric Industries, Ltd. - Japan
- Belden Inc. - United States
- NKT A/S - Denmark
- Fujikura Ltd. - Japan
- Finolex Cables Ltd. - India
- KEI Industries Ltd. - India
- Encore Wire Corporation - United States
- Jiangnan Group Limited - China
- Lapp Group - Germany
- Riyadh Cables Group Company - Saudi Arabia
- Polycab India Limited - India
- J-Power Systems Corporation - Japan
- General Cable Technologies Corporation - United States
Aircraft Wire and Cables Market Recent Developments
- In November 2021, Collins aerospace announced the acquisition of Dutch Thermoplastic Components (DTC) which is a leading brand in the development and fabrication of structural thermoplastic composite parts.
Aircraft Wire and Cables Key Market Trends
Growing Use of High-Speed Data Networks
- The increasing demand for in-flight connectivity and entertainment has led to the deployment of high-speed data networks in aircraft. This trend is driving the need for advanced wire and cable solutions capable of handling high data transfer rates.
Emphasis on Electromagnetic Interference (EMI) Shielding
- With the growing use of electronic systems in aircraft, the need for effective EMI shielding in wire and cable products has become crucial to prevent interference and ensure reliable performance.
Aircraft Wire and Cables Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, The global aircraft wire and cables market showcases a dynamic and evolving landscape driven by several key factors. The growing demand for air travel, coupled with the continuous modernization of aircraft fleets and the adoption of advanced avionics, has spurred the need for reliable and efficient wire and cable solutions. The industry's focus on fuel efficiency and lightweight aircraft construction has led to the exploration of innovative materials and fiber optic cables capable of handling high-speed data transmission. As in-flight connectivity and entertainment become integral to the passenger experience, the deployment of high-speed data networks and customized wire and cable solutions has gained momentum. Additionally, the rise of electric aircraft and unmanned aerial vehicles (UAVs) has stimulated the demand for specialized wire and cables capable of handling higher electrical loads and supporting the advancement of more electric aircraft (MEA) concepts. With safety being paramount in aviation, manufacturers are also emphasizing enhanced fire resistance and electromagnetic interference (EMI) shielding features. Amidst these trends, wire and cable suppliers are continuously adapting to meet the stringent safety and performance requirements of the aviation industry, fostering innovation and progress in the global aircraft wire and cables market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.5 billion |
| Market size value in 2031 | USD 2.47 billion |
| Growth Rate | 5.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Aircraft Wire and Cables Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Aircraft Wire and Cables Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Aircraft Wire and Cables Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aircraft Wire and Cables Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aircraft Wire and Cables Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Aircraft Wire and Cables Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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