Aircraft Engine Electrical Wiring Harnesses and Cable Assembly Market size to increase by USD 233.38 million from 2023 to 2028 | Increasing demand for commercial aircraft to boost the market growth - Technavio

NEW YORK, Dec. 18, 2023 /PRNewswire/ -- The aircraft engine electrical wiring harnesses and cable assembly market is expected to grow by USD 233.38 million between 2023 and 2028. However, the growth momentum of the market will progress at a CAGR of 5.07% during the forecast period. The market is segmented by application (turbofan engine and turboprop engine), end-user (commercial and military), and geography (North America, Europe, APAC, South America, and Middle East and Africa). Increasing demand for commercial aircraft drives the market growth. There is an increase in demand for engine electrical wiring harnesses and cable assembly with a corresponding increase in new-generation aircraft. In addition, commercial aircraft OEMs are involved in the development of new-generation aircraft featuring both minimal fuel consumption and decreased noise and carbon emissions. Hence, such factors drive the market growth. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the aircraft engine electrical wiring harnesses and cable assembly market: AMETEK Inc., Amphenol Corp., Bel Fuse Inc., Carlisle Companies Inc., Consolidated Electronic Wire and Cable, Eaton Corp. Plc, ECI Inc., Glenair Inc., HarcoSemco LLC, John Wood Group PLC, kSARIA Corp., Lockheed Martin Corp., Melrose Industries Plc, Miracle Electronics Devices Pvt. Ltd., Raytheon Technologies Corp., Rockford Components Ltd., Safran SA, Silver Fox Ltd., TE Connectivity Ltd., and W. L. Gore and Associates Inc.
• The Aircraft Engine Electrical Wiring Harnesses and Cable Assembly Market is fragmented in nature.
• Market to observe 4.73% YOY growth in 2024.

Market Dynamics:

Trend

• The use of smart glasses to assist engine wire harness and cable assembly process is a primary trend in the market.
• There is an increasing demand for aircraft procurement among fleet operators in the aviation industry.
• In addition, manufacturers and component suppliers are finding innovative means to upgrade with maximum efficiency.
• For instance, the adoption of smart glasses by Boeing to improve its operational efficiency by meeting its production demand.
• Hence, such factors are driving the market growth. 

Challenges

• Price fluctuations and raw material availability are challenges hindering market growth.
• There is an increase in manufacturing costs due to the use of metals such as steel, aluminum, and titanium in aircraft structures.
• In addition, additional tariffs, and production outages in metal ore-producing countries have also exerted their stress on prices with demand outpacing supply, taxes, and duties.
• Hence, such factors are hindering the market growth.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Key Segments:

• The market share growth by the turbofan engine segment is significant during the forecast period. The turbofan segment is a modern version of an aircraft turbine engine and is used in high-speed passenger aircraft. In addition, the turbofan engine has increased the use of lightweight parts and components that impart superior effectiveness in terms of fuel consumption and carbon dioxide emission. Furthermore, several engine OEMs are increasingly implementing composite-based electrical harnesses and associated parts in their respective engine models. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.

Get a glance at the market contribution of the segments, Request a Free Sample Report 

Related Reports:

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The helicopter market size is estimated to grow at a CAGR of 6% between 2023 and 2028. The market size is forecast to increase by USD 18.94 billion.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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