Europe Aircraft Wire & Cable Market
The market for Europe includes France, Germany, Russia, the UK, and rest of European countries. The European aviation sector is one of the largest aviation sectors across the globe. With more than 20,000 flights a day and approximately 500 million passengers flying every year, Europe accredits to be the world’s busiest airspace. The airlines in the European countries, irrespective of full service or low-cost airlines, are facing extreme pressure for air travel. This is influencing the companies to procure a high number of aircraft. The most preferred mode of transportation in Europe for domestic as well as international conveyance is air travel. Moreover, the strong economy of Europe and higher individual disposable incomes lay a robust platform for the business in the aerospace industry. Large fleet of commercial aircraft along with defense aircraft has led towards the growth of aircraft wire & cable business in the region. With the advent of EAN (European Aviation Network), which is a system built for the purpose of in-flight communication by Inmarsat, the European market is expected to bolster for the coming years. In addition, the region is a land of opportunities for satellite companies competing for the prominent position in the market. This is mainly because the EAN’s collaboration with airline companies is anticipated to generate additional revenue by enabling them to offer better quality Wi-Fi services. Also, innovative aircraft solutions getting developed is the major factor driving the Europe aircraft wire & cable market.
The ongoing COVID-19 is negatively impacting the Europe region. Due to the COVID-19 outbreak, Russia, UK, France, Italy, Spain, and Germany are some of the worst affected member states in the European region. Businesses in the region face severe economic difficulties as they had to suspend their operations or substantially reduce their activities. Due to business lockdowns, travel bans, and supply chain disruptions, the region experienced an economic slowdown in 2020 and, most likely, in 2021. The member states of Europe, such as Italy, Spain, and Germany, have implemented drastic measures and travel restrictions to limit the spread of coronavirus among its citizens. European countries represent a major market for aircraft wire & cable adoption due to the rising MRO activities. The outbreak of the COVID-19 virus has affected the businesses of each aviation stakeholder in the region. Several airlines in the region have postponed the pending aircraft fleet procurement dates to manage their current operational costs during COVID times and post-COVID times. This has led the aircraft OEMs and component suppliers to suffer economic loss. This factor has had a negative result on the European aircraft wire & cable market players.
Strategic insights for the Europe Aircraft Wire & Cable provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 168.50 Million |
| Market Size by 2028 | US$ 279.99 Million |
| Global CAGR (2021 - 2028) | 7.2% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Aircraft Wire & Cable refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The aircraft wire & cable market in Europe is expected to grow from US$ 168.50 million in 2020 to US$ 279.99 million by 2028; it is estimated to grow at a CAGR of 7.2% from 2021 to 2028. Europe maintains a strong position in context to transport connectivity. Since the liberalization of the European air transport arena, the consumers are heavily benefitted from connectivity. High procurement of aircraft In Europe has a direct impact in propelling the growth of the aircraft wire & cable business. The commercial aircraft deliveries by Airbus accounted for 800 in 2018, compared with 718 in 2017. Furthermore, Germany and France are moving ahead with their plans to create next-generation combat aircraft. These initiatives are projected to propel the market demand for aircraft wire & cable market.
The Europe aircraft wire & cable market is segmented into type, fit type, aircraft type, and application. Based on type, the Europe 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.
A few major primary and secondary sources referred to for preparing this report on the aircraft wire & cable market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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.
The Europe Aircraft Wire & Cable Market is valued at US$ 168.50 Million in 2020, it is projected to reach US$ 279.99 Million by 2028.
As per our report Europe Aircraft Wire & Cable Market, the market size is valued at US$ 168.50 Million in 2020, projecting it to reach US$ 279.99 Million by 2028. This translates to a CAGR of approximately 7.2% during the forecast period.
The Europe Aircraft Wire & Cable Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Aircraft Wire & Cable Market report:
The Europe Aircraft Wire & Cable Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Aircraft Wire & Cable Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Aircraft Wire & Cable Market value chain can benefit from the information contained in a comprehensive market report.
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