Aircraft wire and cable market is projected to grow from USD 695.2 Million in 2017 to USD 926.4 Million by 2022, at a CAGR of 5.91% between 2017 and 2022, Increased number of orders for new aircraft across the globe, modernization of existing aircraft, and rise in demand for more electric aircraft and the glass cockpit concept are the major factors driving the aircraft wire and cable market.
Based on type, the aircraft wire segment of the aircraft wire and cable market is projected to grow at the highest CAGR during the forecast period. The growth of the aircraft wire segment can be attributed to the increasing demand for new aircraft, thus, increasing the demand for aircraft wires and cables.
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Based on aircraft type, the civil aircraft segment is projected to grow at a higher CAGR as compared to the military aircraft segment during the forecast period. The civil aircraft segment has witnessed significant growth in the past few years due to the increasing air traffic and the rise in the disposable income of the middle-class population across the globe.
Based on application, the lighting segment of the aircraft wire and cable market is estimated to grow at the highest rate during the forecast period. The growth of this segment can be attributed to the replacement/retrofitting of wires and cables used for cabin lighting, and interior and exterior lighting of an aircraft. Wires and cables are used to transfer the energy required to power up high-intensity lights, lamps, beacons, etc.
The linefit segment of the aircraft wire and cable market is projected to grow at a higher CAGR as compared to the retrofit segment during the forecast period. The higher growth rate of the linefit segment can be attributed to the increase in aircraft orders as well as deliveries, economic growth across regions, and a rise in the air passenger traffic.
Major companies profiled in the aircraft wire and cable market report are TE Connectivity (Switzerland), Amphenol (US), Rockwell Collins (US), AMETEK (US), Radiall (France), Carlisle Companies (US), Pic Wire & Cable (US), W.L. Gore & Associates (US), A.E.Petsche (US), and Leviton (US), among others.
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