Startview Research has launched a market research report titled ‘Aerospace Wires & Cables Market’ that is compiled by leveraging findings as well as insights about the market that helps businesses to stay ahead in the competitive market. It also helps the market players in selecting targets, guide where to invest, giving users a detailed information about company profile, etc. This report provides reliable and accurate market data, that can work as the key for the growth of any business. The report estimates about future trends, challenges, linchpins, opportunities, revenue and future sales count in the target market along with forecasting for a 5-year period.

According to this report, Wires & cables are often considered a commodity products and form a crucial component in an aircraft. Wires form cables, cables form wire harnesses and harnesses assembled along with other components such as conduits and sleeves, backshells, connectors, etc. form the wiring system or electronic wiring interconnect system (EWIS). Being one of the building block elements in aircraft functioning, wires & cables have ceaselessly been in demand with a gradual increase of usage in 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. 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, and flight control surfaces.

The emergence of the pandemic in 2020, left the aerospace industry in shambles. The industry stakeholders incurred heavy losses and were forced to resort to extreme measures and reorient their age-old strategies in order to ensure survival and long-term stability. However, after the passing of the relapse waves of COVID-19 accompanied by massive vaccination drives carried out by nations across the globe, different aircraft segments began to recover from 2021. 

The industry’s rebound had a mirroring impact on the aerospace wires and cable market, as the market recorded a positive YoY (5.9%) during 2020-2021. Key factors fuelling the growth of the market in the long run are rebounding commercial aircraft production, aging aircraft fleet size, increasing use of wires & cables in modern aircraft, and fervent efforts toward developing electric aircraft. As a result of these factors, the market is expected to grow at a promising CAGR of 6.9% to reach a sales figure of US$ 0.9 billion in 2027.

Market Segments' Analysis

Based on the product type, we have segmented the market as hook-up wires, coaxial cables, data bus cables, power cables, and others. Hook-Up wires held the largest share of the market in 2021. Data bus cables weren’t far behind and captured around one-fourth share in 2021. 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 application type, the market is classified as avionics, interiors, propulsion system, airframe, and others. Interior applications are likely to be the key demand generators for wires and cables during the forecast period. The avionics segment is expected to record significant growth during the forecast period. High-speed, lightweight, compact, and durable wires & cables are most key requirements for avionics applications.

With the highest growth (YoY) in the demand for aerospace wires & cables in 2021, 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 Carlisle Companies, Inc., Judd Wire, Inc., W. L. Gore & Associates, Inc., and Amphenol Corporation.

Market Features

This report on the Aerospace Wires & Cables Market is one of the important tools with the help of which the users can obtain a well perspective and through understanding of target market and customer. The details in the report covers Covid19 impact on the market and also predicts how long will it take to recoup which aids in reducing the business failures.

-          Trend analysis, pricing and competitive analysis are some of the vital factors covered in this report.

-          This report consists of in-depth analysis of the market to help businesses in improving decision making.

-          Aerospace Wires & Cables Market report aims at evaluating future sales as well as trends for the prediction period 5 years.

-          This report helps to keep the users updated with key changes that take place in the present market.

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