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Aircraft cables are flexible and thin wires used to transmit signals and electric power. They are fabricated with various metals such as copper alloys, stainless steel alloys and rubber to withstand high temperature and prevent corrosion. Generally, the thickness of aircraft cables is less than ¼ inch, but it has the ability to secure a plane in place. These cables ensure safety of the plane by preventing fire and flumes in electric system. Aircraft cables also helps in transferring high-speed data and are widely used in defense aircraft, civilian helicopter and commercial aircraft.
The market for aircraft cables is expected to rise at a CAGR of 6.8% percent during the forecast period. Rising number of commercial aircrafts and defense aircrafts are driving the growth of the Aircraft Cables Market.
With the growth in aviation industry around the world production of new aircrafts has increased. This has resulted into the increasing demand of aircraft cables during the forecast period. Also, over the past few years the number of passengers travelling by air has increased due to rising disposable income and low price of airline tickets that has resulted towards the growth of airline cable market. In addition, factors such as repairing of existing aircrafts and replacement of cables are also driving the growth of the market. Moreover, growing need of data processing system, higher resolution displays and increasing inflight entertainment facility are expected to fuel the growth of the aircraft cables market. However, lack of professionals for installing aircraft cables is one of the major factor expected to hamper the growth of the market. On the other hand, companies operating in aircraft cable market are investing in various R&D activities for the development of new product, which is also contributing towards the estimated growth of the aircraft cable market during the forecast period. For instance, in October 15, 2020 W.L. Gore & Associates had launched new high performance wire‘GWN3000’ for aircraft electrification. The wire offers high voltage solution and mechanical strength without increasing size of the air bundle. It also improves the operational readiness of the plane and deducts the impact of air transport on the environment.
However, due to COVID-19 outbreak many airlines have been affected and order backlog have been cancelled which hampers the growth of aircraft cable market. Production of aviation companies are disrupted and demand of commercial aviation is declined as the government had shut down air travelling and consumer delayed the aircraft delivery. This in turn disrupted the demand of aircraft cable and wire.
AIRCRAFT CABLE MARKET SEGMENTATION:
By Platform Type
By Resin Type:
North America is likely to be the most profitable region in the aircraft cable market during the forecast period. This is attributed to the presence of major aircraft manufacturers in the region such as Boeing, Aerion and Piper. Also, growing MRO budget and increasing demand of air cables from defense aircrafts are factors expected to propel the market growth in this region. Moreover, rising need of efficient avionics network and cabin management system are also prompting the growth of aircraft cable market in this region during the forecast period.
RESIN TYPE INSIGHT:
As per the resin type, the global aircraft cable market is divided into fluoropolymers, polymide, and others. Fluoropolymers segment is expected to hold a dominant share of the global aircraft cable market. This is mainly attributed to their extraordinary performance. They are engineered for high performance electrical insulation. It ensures high performance and flexibility in terms of chemical and electrical resistance at low and high temperatures (-200 ÷ 300 °C). Also, they are chemically inert, along with the properties such as low coefficient of friction, low dielectric constant, and excellent FST property. The aforementioned features primarily drives growth of the fluoropolymers segment.
As per the applications, the global aircraft cable market is categorized into power transfer, data transfer, flight control system, avionics, and others. Power transfer segment is expected to hold a dominant share of the global aircraft cable market. However, the avionics segment is anticipated to experience critical growth rate during the forecast period due to prolonged impact of the pandemic and the slow long-term recovery. In recent years, the aircraft cable market is witnessing a gradual shift towards wireless avionics as well as flight control systems.
Moreover, the data transfer segment is projected to witness highest growth rate during the forecast period. This is mainly attributed to the rising demand to ensure high volumes of critical content are downloaded/uploaded instantly.
FEW KEY PLAYERS IN AIRCRAFT CABLE MARKET:
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