The global aircraft wire & cable market accounted for US$ 738.1 Mn in 2018 and is expected to grow at a CAGR of 7.6% over the forecast period 2019-2027, to account for US$ 1,412.8 Mn by 2027. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved way for the expansion of business and customer base of aircraft wire & cable market players. The global aircraft wire & cable market is led by North America region owing to the presence of significant count of aircraft and component manufacturers.
North America has the largest fleet of commercial and defense aircrafts in the world. Boeing is the largest North American manufacturer of commercial & defense aircraft. Moreover, Lockheed Martin, Northrop Grumman and General Dynamics are some of the major defense aircraft suppliers operating in the region thus, presenting a tremendous opportunity for the aircraft wire & cable market players to look upon. Huge volumes of commercial and military fleets in operations in the domestic as well as international arena coupled with a high average passenger mile flown value in the region propel the requirements for aircraft components.
In the coming years, Asia-Pacific is expected to account for significant development and growth in passenger air transportation. In terms of population growth, Asia-Pacific slightly exceeds the worldwide average and it is expected to continue its lead during the forecast period. In the long run, state regulation of the industry by authorized bodies, policy of the states of the region to determine the access of foreign airlines to national domestic air transportation market, and significant financial problems for a number of airlines are few of the factors influencing the development of the air transportation in this region. These factors are projected to impact the demand for aircraft wire and cables market in the region.
The global aircraft wire & cable market is segmented on basis of type, fit type, aircraft type, and application. Based on type, the aircraft wire & cable market is segmented into harness, wire, and cable. On the basis of fit type, the market is segmented into line fit and retrofit. Further, the market is segmented on the basis of aircraft type into commercial and military. The market on the basis of application is classified into power transfer, data transfer, flight control system, avionics, and lighting. Geographically, the aircraft wire & cable market is analyzed by tracking the trends in North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The market players operating in the aircraft wire & cable market are A.E. Petsche Company, AMETEK, Inc., Amphenol Corporation, Carlisle Interconnect Technologies, Collins Aerospace, PIC Wire & Cable, Radiall, Nexans SA, TE Connectivity, and W. L. Gore & Associates, Inc., among others.
The overall global aircraft wire & cable market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global aircraft wire & cable market. It also provides an overview and forecast for the aircraft wire & cable market based on all the segmentation provided for the global region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the aircraft wire & cable market.