Aircraft Cables Global Market Report 2023
Major players in the aircraft cables market are TE Connectivity, Amphenol, AMETEK Inc., Loos & Co. Inc., Radiall, Pic Wire & Cable, W.L. Gore & Associates, A.E.Petsche, Arrow Electronics Inc., and Collins Aerospace.
New York, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aircraft Cables Global Market Report 2023" - https://www.reportlinker.com/p06248558/?utm_source=GNW
The global aircraft cables market is expected to grow from $3.65 billion in 2021 to $4.08 billion in 2022 at a compound annual growth rate (CAGR) of 11.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The aircraft cables market is expected to reach $5.53 billion in 2026 at a CAGR of 7.9%.
The aircraft cables market consists of sales of stainless steel aircraft cables, galvanized steel aircraft cables, and other aircraft cables.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Aircraft cables are defined as cables that are made by stranding thin steel wires together to offer high versatility, strength, and flexibility.Aircraft cables are used in control systems, lighting, data transfer, power transfer, avionics, and data transmission.
Aircraft cables are used in cabin management, wires, and pipelines in aircraft.
North America was the largest region in the aircraft cables market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of aircraft cables are stainless steel material and galvanized steel material.Steel is galvanized when it is hot-dipped in a zinc coating solution.
This coating guards the steel against particle corrosion as well as general surface scratches and abrasions.Aircraft cables are used in military aircraft, and civil aircraft and are sold through aftermarket and original equipment manufacturer (OEM) sales channels.
Aircraft cables are used in general aviation, airliner, business aircraft, and other applications.
The increasing demand for the production of new aircraft across the world promotes the growth of the aircraft cable market.Aircraft cables are used to establish an aircraft’s electrical system and to transmit signals into electrical power in commercial aircraft, military aircraft, civil helicopters, and military helicopters.
Thus, the increase in demand for aircraft holds a positive effect on the demand for the production of aircraft wires.For instance, in March 2021, according to the International Air Transport Association (IATA), a Canada-based trade association of the world’s airlines, the total number of travelers in 2021 was 47% higher as compared to previous years and is anticipated to rise to 83% in 2022, 94% in 2023, 103% in 2024, and 111% in 2025.
According to the forecast by Airbus in 2022, demand for passenger traffic is estimated to grow at 3.6% over the next 20 years, following demand for 39.490 new passenger and freighter aircraft over the period. The increased production of new aircraft will result in an increased demand for aircraft cables.
The growth of the aircraft cable market is restricted because of the backlogging of aircraft.The aircraft backlog hampers the demand for aircraft cables.
Aircraft backlog occurs when the orders of aircraft manufacturing have not been fulfilled or run the risk of their potential cancellation or postponement in their date of delivery.The cases of accidents of aircraft that impact the sale of new aircraft, heavy competition among the aircraft producers, and the time required to build a new aircraft result in heavy backlogs in many cases.
Thus, the huge number of aircraft backlogs may result in an opportunity loss for the companies in the aircraft manufacturing to manufacture new aircraft, thus, reducing the demand for aircraft cables.For instance, in March 2020, GoAir, a Mumbai-based Indian airline, had to suspend a few of its flights due to the failure of Airbus to deliver aircraft as per their deal.
Airbus was expected to deliver 144 Airbus A320neo planes on order from GoAir through the period of 2016-2020. Thus, the results of aircraft backlog hamper the demand for new aircraft cables, negatively affecting the growth of the aircraft cables market.
The companies involved in the aircraft cable market are investing in producing cables to meet the need for high-performance data applications required in aircraft systems.Such high-performance data applications are used in cabin management systems, ethernet backbones, computers, servers, and low-skew video.
Following the trend, in January 2021, Carlisle Interconnect Technologies US-based designers and manufacturers of high-performance wire and cable introduced UTiPHASETM microwave cable assembly, which is capable of delivering outstanding electrical phase stability versus temperature without compromising microwave performance. They are ideal in defense, space, and testing applications.
In January 2020, Loos & Co., Inc, a US-based leading manufacturer of military specification aircraft cable and aircraft cable assemblies acquired Sheaves, In. for an undisclosed amount. Through this acquisition, Loos & Co., Inc aims to strengthen its portfolio in wire and cable manufacturing. Sheaves, Inc is a US-based manufacturer of pulleys and sheaves for the wire and wire rope industry.
The countries covered in the aircraft cables market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The aircraft cables market research report is one of a series of new reports that provides aircraft cables market statistics, including aircraft cables industry global market size, regional shares, competitors with an aircraft cables market share, detailed aircraft cables market segments, market trends, and opportunities, and any further data you may need to thrive in the aircraft cables industry. This aircraft cables market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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