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Aircraft Wiring Harness Market is expected to reach US$ 3.99 billion by 2030

The aircraft wiring harness market size is projected to grow at a CAGR of 6.8% during 2022-2030, to surpass US$ 3.99 billion by 2030, from US$ 2.36 billion in 2022

By The Insight Partners

Rise in Demand for Commercial Aircraft Aircraft Wiring Harness Market Growth

According to our latest study on “Aircraft Wiring Harness Market Forecast to 2030 – Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage – by Type and Material,” the Aircraft Wiring Harness market size was valued at US$ 2.36 billion in 2022 and is expected to reach US$ 3.99 billion by 2030. The Aircraft Wiring Harness market is expected to record a CAGR of 6.8% from 2022 to 2030.

The number of commercial aircraft is increasing significantly worldwide. Commercial airline operators are maximizing the utilization of their aircraft to meet the growing passenger demand for air traveling. As more people choose air travel, airlines operate more flights with shorter turnaround times between departures. This increased flight frequency demands aircraft maintenance to ensure safe and reliable operations. In 2021, the European Union (EU) experienced a significant rebound in air travel as the total number of passengers reached 373 million. According to the World Bank, the number of air passengers reached ~2.07 billion in 2021, including ~21.8 million departures recorded by registered air carriers. According to the World Bank report, ~205,267 million ton-km freight was moved by air transport in 2022. In comparison to 2021, ~1.6 billion passengers were carried through air transport, and ~17.9 million departures were recorded by registered air carriers in 2020. Furthermore, ~171,582 million ton-km freight was moved by air transport, according to the same report.

Aircraft Wiring Harness Market – By Region, 2022 and 2030

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00024481

Source: The Insight Partners Analysis

To carry current and electronic signals from the nose to the tail of an aircraft, the aircraft wire harness assembly plays a crucial role in maintaining smooth operations. From the fuselage harness to the power distribution assembly, wire harness makers create intricate electrical harnesses and harness assemblies, enabling the operating and controlling of almost every aircraft component. Therefore, with the growing demand for commercial aircraft, the demand for products in Aircraft Wiring Harness market is also increasing, which boosts the Aircraft Wiring Harness market growth. Following a period of extraordinary upheaval, the aviation sector has proven resilient and adaptive, with airlines stepping up to meet challenges, streamlining their fleets, increasing productivity, and taking advantage of recovering demand. In July 2023, Boeing estimated that by 2042, there would be a US$ 8 trillion global demand for 42,595 new commercial aircraft. Ahead of the Paris Air Show, Boeing announced its 2023 Commercial Market Outlook (CMO), which is the company's estimate of the demand for commercial aircraft and services over the next 20 years.

The replacement of aged aircraft, particularly in North America, is one factor contributing to the recent increase in the aircraft market projection. About 11,000 passenger aircraft will need to be replaced over the course of 20 years, mostly in the single-aisle market, according to Airbus. The need for operational airlines to generate revenue and the aging fleet of commercial aircraft are the main causes of replacement. The retirement of older aircraft has also been influenced by new legislation, airspace upgrading, and emerging environmental concerns.

The Aircraft Wiring Harness market is poised to undergo significant changes as it adapts to evolving technologies, along with rising demand for customized solutions. Miniaturization is one of the most significant trends that will likely shape the aviation industry. As technology becomes more compact, wire harnesses must be designed with smaller components and thinner wires that can accommodate higher data rates while taking up less space. The integration of automation in wire harness manufacturing will increase efficiency and reduce errors. Customized wire harness solutions will also become more critical for specific aerospace applications with the rising adoption of IoT and smart devices. Modern aviation systems require high-speed data transmission capabilities.

The industry must focus on using environment-friendly materials and production processes while creating wire harnesses capable of handling multiple connections and communication protocols. Further, miniaturized wire harnesses are designed to handle various requirements of aviation systems, supporting the growing demand for in-flight connectivity and data-intensive applications. As modern aircraft are equipped with a multitude of advanced systems and components, miniaturized wire harnesses help ensure efficient routing and installation within the limited space constraints of an aircraft. Thus, the trend of miniaturization of wire harnesses is likely to fuel the Aircraft Wiring Harness market growth in the coming years.

The Aircraft Wiring Harness market is categorized on the basis of type, material, and geography. Based on type, the Aircraft Wiring Harness market is segmented into wire harness terminal, wire harness connector, and others. By material, the Aircraft Wiring Harness market is segmented into PVC, polyethylene, polyurethane, thermoplastic elastomers, and vinyl. The Aircraft Wiring Harness market, based on geography, is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Safran SA, Latecoere SA, GKN Aerospace Services Ltd, Collins Aerospace, Samvardhana Motherson International Ltd, Aerospace Harness Manufacturing, Steinair Inc, Elimco Aerospace SLU, Heritage Aviation Pvt Ltd, and Interconnect Solutions Company LLC are among the key players operating in the Aircraft Wiring Harness market.

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