North America Aircraft Wire & Cable Market is expected to reach US$ 453.44 million by 2027

Wire Segment to Dominate North America Aircraft Wire & Cable Market during 2020–2028

According to The Insight Partners market research study on “North America Aircraft Wire & Cable Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Aircraft Type, Fit Type, and Application” is expected to reach US$ 453.44 million by 2028 from US$ 295.17 million in 2020. The market is estimated to grow at a CAGR of 6.2% from 2021 to 2028. The report provides trends prevailing in the North America aircraft wire & cable market along with the drivers and restraints pertaining to the market growth. Deliveries and orders of aircraft rising is the major factor driving the growth of the North America aircraft wire & cable market. However, issues associated with aircrafts getting discontinued hinders the growth of North America aircraft wire & cable market.    

The North America aircraft wire & cable market is segmented into type, fit type, aircraft type, and application. Based on type, the North America aircraft wire & cable market is further segmented into harness, wire, and cable. Wire segment held a substantial market share in 2020. Based on fit type, the market is further categorized into line fit and retrofit. Line fit segment held a substantial market share in 2020. Further, the market is segmented based on aircraft type into commercial and military. Commercial segment held a substantial market share in 2020. Based on application, the market is classified into power transfer, data transfer, flight control system, avionics, and lighting. Power transfer segment held a substantial market share in 2020.

The ongoing COVID-19 is having a very devastating impact over the North America region. North America is one of the most important regions for adopting and developing new technologies due to favorable government policies to boost innovation, a huge industrial base, and high purchasing power, especially in developed countries such as the US and Canada. Due to COVID-19, several aircraft manufacturers in the region faced challenges, which includes shutdowns of production sites and disruptions in the workplace, raw materials, and goods. For instance, in the second quarter of 2020, Boeing suspended its operations in Philadelphia, Puget Sound, South Carolina, and numerous other major production sites. The company’s revenues declined by US$ 18,401 million in 2020 compared with 2019, majorly due to less revenues in its commercial airplane and services businesses. Besides, due to global breakdown Boeing delivered 157 aircraft in 2020, which is down from 380 in 2019 and 806 in 2018. Due to disruption in the business of aircraft manufacturers, several wires & cables suppliers also suspended operations during the second quarter of 2020, and they witnessed additional disruptions in 2021. Thus, the North American aircraft wire & cable market has been shattered by the momentary shutdown of the aviation industry, reflecting severely less demand for various types of components, including wires & cables. Due to this, the aircraft wire & cable market players have been witnessing noteworthy less demand; however, as the unlock measures started, and airlines resumed their operations, the procurement rate of wires & cables begun to uprise at a slow pace.   

A.E. Petsche Company; AMETEK Inc.; Amphenol Corporation; Axon Enterprise, Inc.; Carlisle Companies Incorporated; Collins Aerospace, a Raytheon Technologies Corporation Company; Draka; Glenair, Inc.; Harbour Industries, LLC; HUBER+SUHNER; Nexans; PIC Wire & Cable; Radiall; TE Connectivity Ltd.; W. L. Gore and Associates, Inc. are among the leading companies in the North America aircraft wire & cable market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Axon declared that its ticker symbol on the Nasdaq Stock Market began trading under the symbol "AXON," effectively.   

The report segments the North America Aircraft Wire & Cable Market follows:

North America Aircraft Wire & Cable Market – By Type

• Cable
• Wire
• Harness

North America Aircraft Wire & Cable Market – By Aircraft Type

• Commercial
• Military

North America Aircraft Wire & Cable Market – By Fit Type

• Line Fit
• Retrofit

North America Aircraft Wire & Cable Market – By Application

• Power Transfer
• Data Transfer
• Flight Control System
• Avionics
• Lighting

North America Aircraft Wire & Cable Market – By Country

• US
• Canada
• Mexico