What is Aircraft Wire & Cable Market?
the global aircraft wire and cable market is withness to grow due to the increasing number of aircraft worldwide. Aircraft cables are thin, flexible and extremely strong cables made of stainless steel. Aircraft Wire & Cable consist of thin steel wires which are stranded together, giving the cable a good blend of flexibility and strength. It is strong enough to protect an airplane in place. it is made by stainless steel and galvanized steel forms, as well as the stainless steel cable, is used in more strenuous applications due to its capability to withstand harsh temperature and resist corrosion. Aircraft cables and wires are usually used for securing and controlling aircraft during shipping or transport.
The market study is being classified by Type (Wire, Cable and Harness), by Application (Power Transfer, Data Transfer, Flight Control Systems, Avionics, Lighting and Others) and major geographies with country level break-up. According to AMA, the Global Aircraft Wire & Cable market is expected to see growth rate of 5.91% and may see market size of USD981.14 Million by 2026.
Amphenol (United States), Radiall (France), Rockwell Collins (United States), AMETEK (United States), TE Connectivity (Switzerland), Carlisle Companies (United States), W.L. Gore & Associates (United States), Pic Wire & Cable (United States) and A.E.Petsche (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Leviton (United States), American Wire Group (United States), Whitmor/Wirenetics (United States), Dacon Systems (United States), Loos & Co. (United States) and Lexco Cable Manufacturers (United States).
The global aircraft wires and cables are highly fragmented due to various manufacturers present in the market. Emerging countries are to estimate positive growth due to increasing Infrastructures requirement, growing government expenditure over the coming years. Product innovation strategies are implemented by the firm to enhance the regional and overall market growth in the near future. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Aircraft Wire & Cable market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Aircraft Wire & Cable market by Type, Application and Region.
On the basis of geography, the market of Aircraft Wire & Cable has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Number of Orders for New Aircraft Across the World
- Rising Demand for New Aircraft due to the Strength and Flexible Nature
Market Trend
- Innovation in Aircraft System
- Upsurging Demand of Electric Aircraft as well as Glass Cockpit System
Restraints
- Backlog in Aircraft Deliveries
Opportunities
- The Introduction of New Aircraft Manufacturers in the Developing Countries
Challenges
- Complexities Related With Manufacturing and Installing of Wire Harness
- Stringent Regulatory Norms
Key Target Audience
Aircraft Wires and Cables Wholesalers, Retailers, and Distributors, Aircraft Manufacturers, Research Bodies, Aircraft Manufacturers, Raw Material Suppliers, Aircraft Maintenance, Repair & Overhaul (MRO) Companies and Others