The aircraft wire & cable market in APAC is expected to grow from US$ 141.82 million in 2020 to US$ 265.44 million by 2028; it is estimated to grow at a CAGR of 9.1% from 2021 to 2028. At present, the aircraft wires and cables manufacturers can explore potential business opportunities through conducting extensive research & development (R&D) for developing lightweight cables and wires. The availability of lightweight efficient, mechanically durable wires could provide scope for creating sustainable market offerings and subsequently provide attractive market growth opportunities for the market players operating in the market. The wires and cables encompass most of the weight portion of aircraft power systems and a huge fraction of the entire aircraft weight. By opting for substantially lightweight wires would enhance the fuel economy of an aircraft while also surging the amount of load it could carry. The battlefield air operations kit (BAO) program, which offers equipment for battlefield airmen to perform a wide range of missions, has documented requirements to mitigate the volume and weight of cables to reduce personnel fatigue and any hazards during special operations missions. Thus, governments across the regions are swiftly moving from traditional wires and cables to fiber optics. Due to the rising demand for lightweight and strong wires and cables, vendors are highly engaged in designing aircraft wires and cables that can perform even in a rugged environment. Additionally, developing economies witnessing rise in MRO activities is among the other factors expected to fuel the demand for aircraft wire & cables in APAC.
Based on application, the power transfer led the APAC aircraft wire & cable market in 2020.In both commercial and military aircrafts various types of cable and wire are used to transfer power.
In the new generation of aircrafts, there is increased demands for electrical power owing to their high reliance on electrical technology such as de-icing systems, electrical flight control actuation, and air conditioning.Efficient power transmission within the aircraft is one of the prime requirements for its smooth operability.
In the recent aerospace industry, the aircraft manufacturers are heavily eyeing on the development of electric aircrafts.The development of electric aircraft would be beneficial for both aircraft manufacturers as well as aircraft owners, as this technology is anticipated to reduce operational cost, and offer higher performance and reliability to a larger extent.
Additionally, the replacement of hydraulic and pneumatic systems with electrical systems, would result in reduction in MRO costs. Thus, the development of electric aircraft is anticipated to drive the demand for wire and cables majorly for power transmission. The ongoing COVID-19 has caused havoc in the APAC region.APAC is characterized by many developing countries, a positive economic outlook, high industrial presence, huge population, and rising disposable income.
These factors make APAC a major growth driving region for various markets, including aircraft wire & cable.The COVID-19 outbreak has resulted in a massive financial loss in the APAC region.
The governments in APAC countries are taking possible steps to reduce its effects by announcing lockdown, which is negatively affecting the manufacturing sector.China is one of the leading aerospace manufacturing countries in the region and has been one of the APAC’s most affected countries.
Due to this, the manufacturing facilities have been witnessing severe aircraft and aircraft-associated components manufacturing facilities. India and Indonesia are still combating the spread of the virus. However, the countries have eased the lockdown measures, which is reflecting the restart of manufacturing facilities. Nonetheless, the remarkable lower volumes of air travel passengers have slowed down the demand for various components among the OEMs and aftermarket players regionally and internationally. This has been negatively affecting the aircraft wire & cable market. Several airlines in APAC have retired their wide-body jets and narrow-body jets. This factor is anticipated to inhibit the aircraft wire & cable market for the next few months. For instance, Australia-based Qantas retired its Boeing B747 in mid-2020 to cope with the COVID-19 pandemic’s financial pressure. Thus, the retirement of wide-body jets is foreseen to be creating tremors on aviation aftermarket and eventually on the aircraft wire & cable market.
The overall APAC 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 APAC 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 APAC aircraft wire & cable market. A.E. Petsche Company; AMETEK Inc.; Amphenol Corporation; Axon Enterprise, Inc.; Collins Aerospace, a Raytheon Technologies Corporation Company; Draka; Glenair, Inc.; Harbour Industries, LLC; HUBER+SUHNER; Nexans; Radiall; TE Connectivity Ltd.; W. L. Gore and Associates, Inc. are among the key players operating in the APAC aircraft wire & cable market.
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