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Aerospace Wires & Cables Market
Aerospace Wires & Cables Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028
Wires & cables are often considered commodity product and form a crucial component in an aircraft. 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, and flight control surfaces.
Being one of the building block elements in aircraft functioning, wires & cables have ceaselessly been in demand with a gradual increase of usage in the modern aircraft. For instance, Boeing 737 has ~40 miles of wires & cables. 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. Similar trajectory has been recorded for the Airbus programs.
Post recording a hefty decline in 2020 owing to the highly perturbed condition of the aerospace industry, the aerospace wires & cables market headed to the road of recovery, marking a healthy growth in 2021-2022, ultimately reached at value of US$ 526.5 Million in 2022. The market is estimated to log a promising growth of 9.5% (CAGR) during 2023-2028.
Recent Product Developments: The major players mainly focus on developing wires & cables with lighter weight, increased durability, and better resistive features. For instance, Nexans S.A’s range of coaxial cables to replace the existing coaxial links WD and WN cables in Airbus A350 aircraft, enabling a 20%-30% weight reduction.
Recent Market JVs and Acquisitions: There were hardly any strategic alliances, including M&As, JVs, etc., performed in the recent years. Unlike the global wires & cables market, the aerospace wires & cables market recorded less significant M&A activities. However, there have been a few strategic developments, which shaped the competitive dynamics in the market, since 2011. For instance,
|
Segmentations |
List of Sub-Segments |
Dominant and Fastest-Growing Segments |
|---|---|---|
|
Platform Type |
Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, Helicopter, and Others. |
Commercial aircraft is likely to remain the dominant as well as the fastest-growing segment, during 2023-2028. |
|
Application Type |
Avionics, Interiors, Propulsion System, Airframe, and Others. |
Propulsion system is likely to account for the major market share, whereas, interiors is expected to remain the fastest-growing segment, in the coming years. |
|
Product Type |
Hook-Up Wires, Coaxial Cables, Data Bus Cables, Power Cables, and Others. |
Hook-up wire is expected to remain the dominant segment, and data bus cable is likely to grow at the fastest pace, during the forecast period. |
|
Material Type |
PTFE Tape, Polyimide Tape/PTFE Tape, Polyimide Tape/UV Laser Markable and Others. |
PTFE tape is expected to remain the largest as well as the fastest-growing market segment in the forthcoming years. |
|
Purpose Type |
General Purpose Wires & Cables and Special Purpose Wires & Cables |
General-purpose wire & cable is likely to maintain its market dominance and special-purpose wire & cable is likely to witness the fastest growth, during the study period. |
|
Regional Analysis |
North America, Europe, Asia-Pacific, and The Rest of World |
Aerospace hub, North America is expected to remain the largest market during the forecast period. |
Based on platform type, the aircraft wires & cables market is segmented as commercial aircraft, regional aircraft, general aviation, military aircraft, helicopter, and others. Commercial Aircraft is expected to dominate the market in 2022 and is expected to register a higher CAGR, during the forecast period. The increasing production rates of various commercial aircraft is the major factor, which is expected to drive the segment growth. Airbus forecasts a demand for 32,630 single-aisle and 8,220 wide-body aircraft over the next 20 years. similar estimation of over 40,000 commercial and regional aircraft deliveries by Boeing in the next twenty years.
Based on the application type, the market is classified as avionics, interiors, propulsion system, airframe, and others. Among all the segments, the interior applications are likely to be the key demand generators for wires & cables during the forecast period, owing to the rising penetration of IFECs. Moreover, the avionics segment is expected to record significant growth, during the forecast period, as there will be a larger usage of wires & cables, with the transition to digital avionic systems in modern aircraft. High speed, lighter weight, compactness, and durability of wires & cables are the key requirements for avionics applications.
Based on the product type, the market is bifurcated into hook-up wires, coaxial cables, data bus cables, power cables, and others. The hook-up wires segment held the largest share of the market in 2022 owing to its widespread usage in aerospace interiors and avionics. Data bus cables aren’t far behind and have captured around one-fourth share in 2022. Data bus cables are widely used in avionics, in-flight entertainment, and communication needs. The latter is also expected to record the fastest long-term growth during the forecast period.
Based on the material type, the market is segmented into PTFE tape, polyimide tape/PTFE tape, polyimide tape/UV laser markable, and others. PTFE tape is expected to remain the dominant material type in the market during the forecast period, as these wires can withstand high power as well as protect cables from fire and heat. PTFE tape also has excellent low dielectric property, exhibits low-loss factors, has unique resistance to high temperatures, chemical reactions, and corrosion; and FST.
Based on the purpose type, the market is segmented into general-purpose wires & cables and special-purpose wires & cables. General-purpose wires & cables dominated the market due to the wide-scale requirements for standard aerospace electrification, on-board and ATC communication, and navigation.
With the highest growth (YoY) in the demand for aerospace wires & cables in 2022, Asia-Pacific is expected to remain the fastest-growing market, during the forecast period. On the other hand, North America is likely to take lead in the market, driven by a robust supply chain with the presence of several stakeholders. Key wires & cables suppliers in the region are TE Connectivity, Judd Wire, Inc., Marmon Group, W.L.Gore, Allied Wire & Cable, Specialty Cable Corporation (SCC), and Harbour Industries.
The aerospace wires & cables market has remained mostly latent in the past few years with no significant mergers & acquisitions. The sudden outburst of the pandemic has only added to the inertia of the market. For instance, the fallout of the Carlisle-Prysmian deal for the acquisition of Draka in 2020, is an imperative survival strategy to maintain cash liquidity. Some of the key players in the aerospace wires & cables market are:
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace wires & cables market realities and future market possibilities for the forecast period. 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 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 to expedite their growth process.
This report offers high-quality insights and is the outcome of a 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 books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with 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 in the most comprehensive way. 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.
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
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The aerospace wires & cables market is estimated to grow at an impressive CAGR of 9.5% over the next five years. Factors, such as rebounding commercial aircraft production, increasing use of wires & cables in modern aircraft, and fervent efforts toward developing electric aircraft, are expected to drive the growth of the market in the long run.
Carlisle Companies, Inc., TE Connectivity, Nexans S.A., Judd Wire Inc., and Prysmian Group are the leading players in the aerospace wires & cables market. These companies are projected to remain dominant over the next five years as well.
North America is estimated to remain dominant in the aerospace wires & cables market in the foreseen future. The presence of a huge number of tier players and OEMs in the region drives the overall region’s market dynamics.
Asia-Pacific is estimated to grow at the fastest rate in the coming five years. China and India are estimated to be the growth propellers for the region.
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