In 2018, the global market for aircraft wire and cable was valued at approximately US$ 738.1 million, with projections indicating a compound annual growth rate (CAGR) of 7.6% from 2019 to 2027, potentially reaching US$ 1,412.8 million by the end of the forecast period.
Numerous companies are prioritizing organic growth strategies, which include launching new products, obtaining product approvals, and securing patents, alongside hosting various events. Additionally, inorganic growth strategies such as mergers, acquisitions, and partnerships have been prevalent in the market. These strategic initiatives have significantly contributed to the expansion of businesses and the customer base for players in the aircraft wire and cable sector. The North American region currently dominates the global aircraft wire and cable market, primarily due to the high concentration of aircraft and component manufacturers located there.
North America boasts the largest fleet of both commercial and military aircraft worldwide. Boeing stands out as the leading manufacturer of commercial and defense aircraft in the region. Furthermore, major defense contractors such as Lockheed Martin, Northrop Grumman, and General Dynamics are also key players in this market, creating substantial opportunities for aircraft wire and cable manufacturers. The extensive operational volumes of commercial and military aircraft, both domestically and internationally, combined with a high average passenger mile flown, drive the demand for various aircraft components.
Looking ahead, the Asia-Pacific region is anticipated to experience significant growth in passenger air travel. This region's population growth slightly surpasses the global average and is expected to maintain this trend throughout the forecast period. Over the long term, factors such as government regulations governing the industry, policies that affect foreign airlines' access to domestic air transport markets, and financial challenges faced by several airlines will influence the development of air transportation in Asia-Pacific. These elements are likely to have a direct impact on the demand for aircraft wire and cable in the region.
The global aircraft wire and cable market is categorized based on type, fit type, aircraft type, and application. In terms of type, the market is divided into harnesses, wires, and cables. Fit type segmentation includes line fit and retrofit options. Aircraft types are classified into commercial and military categories. Applications for these products encompass power transfer, data transfer, flight control systems, avionics, and lighting. Geographically, the market analysis covers trends in North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
Key players in the aircraft wire and cable market include 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 size of the global aircraft wire and cable market has been determined through a combination of primary and secondary research methods. The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This research also provides an overview and forecasts for the aircraft wire and cable market based on the various segments identified for the global region. Additionally, primary interviews with industry participants and experts are conducted to validate the data and analysis. Participants typically include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the aircraft wire and cable sector.