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Aircraft Wire And Cable Market | Covid-19 Impact Analysis
Aerospace Wires & Cables Market is segmented by Platform Type (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, Helicopter, and Others), by Resin Type (Fluoropolymers, Polyimide, and Others), by Application Type (Power Transfer, Data Transfer, Flight Control System, Avionics, and Lighting), by Product type (Build-to-Print and Build-to-Specifications), by Purpose Type (General-Purpose Wires & Cables and Specialty Wires & Cables), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace wires and cables market realities and future market possibilities for the forecast period of 2021 to 2026. The report estimates the short- as well as long-term repercussions of the COVID-19 pandemic on the demand for wires & cable at the global, regional, as well as country level. Also, the report provides the possible loss that the industry will register by comparing pre-COVID and post-COVID scenario. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies in order to expedite their growth process.
The Aerospace Wires & Cables Market: Highlights
Wires & cables are often considered as a commodity product and form a crucial component in an aircraft. Being one of the building block elements in aircraft functioning, wires and cables have ceaselessly been in demand with a gradual increase of usage in the modern aircraft. For instance, Boeing incorporated ~40 miles of wires & cables in its B737. 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, power transfer, and flight control surfaces.
With the rising global concern regarding environmental preservation, the regulation for CO2 emissions has gotten unbendable. The aerospace community generates ~2% of the human-induced CO2 emissions. The industry has a target to improve fuel efficiency by 1.5% per year. Wires & cables roughly contribute 3% of the total aircraft’s weight. There has been an increased demand for lightweight wires & cables in order to help the entire industry’s stakeholders in achieving the targets, as a general, 1% improvement in fuel efficiency yields about US$ 2.0 billion savings for airlines each year.
The grounding of B737 max, imprinted an ephemeral distressing impact on the aerospace industry, not leaving the aerospace wires and cables market impervious to the consequences. The market logged a minor decline in 2019, with an optimistic outlook for rejuvenated demand in the following year. However, in 2020, the rapid spread of COVID-19 has drawn in unsought cataclysmal changes in the business, bewildering the aerospace industry. The aerospace wires & cables market is likely to follow suit, recording a grave downturn of -24% YoY in 2020, completely crushing the market stakeholders’ hopes of pacifying the losses incurred in 2019.
That being said, the long-term scenario still seems remunerative with the buoyant aerospace industry likely to get back on track, backed by strong industry fundamentals coupled with the stakeholders’ acquired ability to manage the crisis. The industry’s rebound is likely to have a mirroring impact on the aerospace wires & cable market, reviving the demand from 2021 onwards, translating to a sale of US$ 0.8 Billion in 2026. Other key factors fueling the growth of the market, in the long run, are rebounding commercial aircraft fleet size, aging aircraft fleet size, increased use of wires & cables in modern aircraft, and fervent efforts towards developing electric aircraft.
Unlike the global wires & cables market, the aerospace wires & cables market has remained latent in the past few years with no significant mergers & acquisitions. The sudden outbreak of the pandemic has further added to the inertia of the market with leading players putting a hold on plausible deals. For instance, Carlisle Companies, Inc., the market leader, announced to acquire Draka Felica from Prysmian in 2019, only to shelve the deal later (in 2020), as a compelling move towards cash preservation.
Based on the platform type, Stratview Research has segmented the market as commercial aircraft, regional aircraft, general aviation, military aircraft, helicopter, and others. As commercial aircraft faces a short descent in the wake of the pandemic, the military aircraft segment likely to remain relatively stable. Nevertheless, the commercial aircraft segment to remain the long-term thrust-bearer of the market, logging the fastest recuperation, owing to strong order backlogs of 12,661 (Airbus: 7,501 and Boeing: 5,160) aircraft as of August 2020. Furthermore, upcoming aircraft programs, such as C919 and MC21, are expected to uplift the segment’s healing course.
Based on the resin type, we have segmented the market as fluoropolymers, polyimide, and others. Fluoropolymers are expected to remain the most widely used resin type in the market, owing to their extraordinary performance. PTFE captures an elephantine chunk among all fluoropolymers, offering favorable properties such as extreme temperature resistance (-200°C to 300°C), chemically inert, low dielectric constant, low coefficient of friction, and excellent FST property.
Based on the application type, the market is segmented as power transfer, data transfer, flight control system, avionics, and others. Power transfer is expected to maintain its vanguard in the market with the least decline and the fastest recovery during the forecast period, whereas the avionics segment is projected to suffer a prolonged impact of the pandemic with the slowest long-term recovery. In recent years, the market is witnessing a gradual shift towards wireless avionics and flight control systems.
All the regional markets are anticipated to mark gargantuan declines in 2020. With the strong presence of leading players, North America and Europe are expected to grab the largest share of the market during the forecast period. The USA to act as the helm of the regional as well as global market. Asia-Pacific is likely to emerge out of despair earliest, with the highest long-term CAGR, offering a plethora of opportunities in the long-term. Other key factors likely to cause a stir in the region’s market are the opening of assembly plants of Boeing and Airbus in China and upcoming indigenous commercial and military aircraft. India to be the new growth engine, actively developing policies to welcome companies willing to move away from China.
The supply chain of this market comprises raw material suppliers, wire & cables manufacturers, harness suppliers, electrical wire interconnect system suppliers, tier players, aircraft OEMs, airline companies, aircraft leasing companies, and MRO companies. The key players in the aerospace wires & cables market are Carlisle Companies, Inc., Nexans S.A., TE Connectivity, Judd Wire, Inc., Draka (Prysmian), W.L. Gore & Associates, Radiall, etc.
The key players are shifting their focus towards rebuilding their short-term and long-term strategies in order to battle the current distressing time. However, the development of customized solutions for key customers, advancements in wires and cables, and a continuous drive towards betterment and high-performance solutions have been the key strategies adopted by the major players to gain a competitive edge in the market.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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:
The aerospace wires & cables market is segmented into the following categories.
Aerospace Wires & Cables Market, by Platform Type
Aerospace Wires & Cables Market, by Resin Type
Aerospace Wires & Cables Market, by Application Type
Aerospace Wires & Cables Market, by Product Type
Aerospace Wires & Cables Market, by Purpose Type
Aerospace Wires & Cables Market, by Region
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]
The aircraft wire and cable market is expected to witness an impressive growth of 7.2% CAGR in the foreseeable future.
Some of the major players in the aircraft wire and cable market are Carlisle Companies, Inc., Nexans S.A., TE Connectivity, Judd Wire, Inc., Draka (Prysmian), W.L. Gore & Associates, Radiall, etc.
Asia-Pacific is estimated to depict the highest growth over the next five years.
The power transfer segment is expected to remain dominant application type in the coming years.
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