The aircraft wire & cable market in SAM is expected to grow from US$ 73. 15 million in 2020 to US$ 104. 37 million by 2028; it is estimated to grow at a CAGR of 5. 1% from 2021 to 2028. The SAM aviation industry is growing at an unprecedented rate, recording substantial number of production volumes of military and commercial aircraft fleet.
New York, May 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "South America Aircraft Wire & Cable Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Aircraft Type, Fit Type, and Application" - https://www.reportlinker.com/p06075765/?utm_source=GNW
In the past few years, the commercial aircraft fleet has seen tremendous growth due to the influx of new low-cost carriers (LCCs) and fleet expansion strategies adopted by the full-service carriers (FSCs). Commercial aviation industry is predicted to upsurge in the near future due to the rising air travel passengers and aircraft procurement. Airbus and Boeing are the two aircraft manufacturing giants with significantly greater volumes of orders and delivery statistics. These two aircraft original equipment manufacturers (OEMs) are continuously encountering orders for various aircraft models from different civil airlines. Additionally, new innovations being done for aircraft related solutions is among the other factors expected to fuel the demand for aircraft wire & cables in SAM.
Based on fit type, line fit segment led the SAM aircraft wire & cable market in 2020.In aircrafts, there are extended choices for variety of cabin layouts, seat settings and inflight entertainment settings including many others.
At present, airlines give preference for customer safety and comfort.Thus, there is an increased importance of efficient and safe wiring system among airline and manufacturers.
The product and service providers have to deliver top quality products to the aircraft manufacturers in order to get their products line fitted.These products have to comply with regulation from Federal Aviation Administration (FAA) for the 100% compatibility with the aircraft.
In the aviation industry, some of the additional functions installed during the construction of aircraft are either line-fit or provisioned. These are referred as the items that are installed during the production by the manufacturers. The options installed on the new aircraft always vary, as different airlines order their planes keeping specific audience in mind. Further, the line fit market is expected to grow at significant rate owing to the rising demand for new aircrafts from major airline operators. The continuous purchase of various aircraft models among major airline operators are expected to continue, which is analyzed to project the line fit segment’s growth in the aircraft wire & cable market during the forecast period.
The ongoing COVID-19 is having a devastating impact on the SAM region.In the SAM, Brazil has the highest number of COVID-19 confirmed cases, followed by other countries such as Colombia, Argentina, and Peru.
The governments of various countries in SAM are taking several initiatives to protect people and control COVID-19’s spread in the region through lockdowns, trade bans, and travel restrictions.Brazil is the largest spender in the aerospace sector and is the only modern aircraft manufacturing country in the region.
Due to this, the demand for components and aircraft-related systems and technologies is at an all-time high in the country.In addition, most of the components are imported from the US, China, and European countries.
The slowdown in commercial and military aircraft production in the country has impaired the supply chain in Brazil. This has weakened the demand for several components, including aircraft wire & cable. Thus, the outbreak of COVID-19 has had a harsh impact on the SAM aircraft wire & cable market, especially in Brazil.
The overall SAM aircraft wire & cable market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the SAM aircraft wire & cable market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the SAM aircraft wire & cable market. AMETEK Inc.; Amphenol Corporation; Collins Aerospace, a Raytheon Technologies Corporation Company; Draka; HUBER+SUHNER; Nexans; TE Connectivity Ltd.; W. L. Gore and Associates, Inc. are among the key players operating in the SAM aircraft wire & cable market.
Read the full report: https://www.reportlinker.com/p06075765/?utm_source=GNW
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