At 6.2% CAGR, Europe Aircraft Wiring Harness Market is Projected to be Worth US$ 944.33 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe aircraft wiring harness market was valued at US$ 582.66 million in 2022 and is expected to reach US$ 944.33 million by 2030, registering a CAGR of 6.2% from 2022 to 2030. Rise in demand for commercial aircraft and retrofitting of older aircraft fleet are among the critical factors attributed to the Europe aircraft wiring harness market expansion.

The deployment of several retrofitting technologies, which indicate the implementation of newer technologies on older airplane fleets, help strengthen passenger safety and comfort and facilitate the airlines in maintaining their older fleet. Retrofitting is done to improve the performance and capabilities of older aircraft. Upgraded wire harnesses can contribute to better reliability, reduced downtime, and improved functionality, making the most out of retrofit investment by various companies. Retrofitting can extend the operational lifespan of older aircraft, enabling them to remain in service for a long duration. As these aircraft continue to operate, there is an ongoing need for replacing wire harnesses due to wear and tear. Retrofitting older aircraft can be a cost-effective alternative to purchasing new ones. As airlines and operators seek to maximize the value of their existing fleets, they will require reliable and updated wire harnesses to support the retrofit projects. For example, the trend for cabin retrofits became more prominent after the post-peak-pandemic phase. Through the pandemic a lot of airlines ground its fleet and this grounding time, offered them an opportunity to upgrade their cabin. Retrofitting can include updates to improve the environmental performance of aircraft, such as reducing fuel consumption and emissions. Wire harnesses that contribute to these goals, including those designed for more efficient electrical systems, continue to record significant demand. Hence, integrating advanced and modern technologies into older aircraft fleets is expected to change the aircraft wiring harness market landscape and the face of the aviation industry. Thus, the retrofitting of older aircraft fleets is expected to provide lucrative opportunities for the market players in the coming years.

On the contrary, cost constraints in low profit margin hamper the growth of Europe aircraft wiring harness market.

Based on type, the Europe aircraft wiring harness market is segmented into wire harness terminal, wire harness connector, and others. The wire harness terminal segment held 46.3% share of Europe aircraft wiring harness market in 2022, amassing US$ 270.01 million. It is projected to garner US$ 427.79 million by 2030 to expand at 5.9% CAGR during 2022-2030.

In terms of material, the Europe aircraft wiring harness market is categorized into PVC, polyethylene, polyurethane, thermoplastic elastomers, and vinyl. The PVC segment held 44.2% share of Europe aircraft wiring harness market in 2022, amassing US$ 257.70 million. It is projected to garner US$ 396.17 million by 2030 to expand at 5.5% CAGR during 2022-2030.

Based on country, the Europe aircraft wiring harness market has been segmented into the UK, Germany, France, Russia, Italy, and the Rest of Europe. Our regional analysis states that the UK captured 24.1% share of Europe aircraft wiring harness market in 2022. It was assessed at US$ 140.13 million in 2022 and is likely to hit US$ 248.08 million by 2030, exhibiting a CAGR of 7.4% during 2022-2030.

Key players operating in the Europe aircraft wiring harness market are Collins Aerospace, Elimco Aerospace SLU, GKN Aerospace Services Ltd, Latecoere SA, Safran SA, and Samvardhana Motherson International Ltd, among others.

• In June 2023, Latecoere received contracts from Boeing to supply wire systems for the 737 and 767 programs, including military and commercial variants. The contact addresses both commercial and military variants of the Boeing 737 (737 MAX and P-8 Multi-Mission Maritime Patrol Aircraft) and the Boeing 767 (767-300 Freighter). The wiring systems of the 737 MAX are variable in order to accommodate the individual needs of operators.
  
  

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