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According to the latest aviation cable market report released by Research and Markets, the global aviation cable market demand in 2019 was about 3.
53 billion US dollars, and this data is expected to increase to 4.
56 billion US dollars by 2023, with a compound annual growth rate of 6.
64%
during the period.
According to the report, the growing global demand for the production of new aircraft has contributed to the growth of
the aviation cable market.
Aviation cables are mainly used to establish the electrical system of aircraft, including commercial aircraft, military aircraft, civil helicopters, military helicopters, etc
.
The increase in aircraft demand has a positive impact
on the production demand for aviation cables.
The International Air Transport Association (IATA) predicts that the number of passengers will increase from 3.
8 billion in 2016 to 7.
2 billion
by 2035.
According to AirBus' forecast in 2019, air traffic will grow
at an annual rate of 4.
3% by 2038.
Approximately 39,200 new passenger and special-purpose transport aircraft are expected to be added during the period
.
The increase in production of new aircraft will also boost the demand for aviation cables
.
However, on the other hand, the backlog of aircraft will also create certain restrictions
on the growth of this market.
Aircraft backlogs occur when aircraft manufacturing orders are not fulfilled, or there is a risk that delivery dates may be cancelled or delayed, such as the coronavirus outbreak in early 2020, and aircraft accidents that can also affect sales of new aircraft, fierce competition among aircraft manufacturers and the time it takes to build new aircraft in many cases lead to backlogs
.
As a result, a large backlog of aircraft can lead to a loss of opportunity for aircraft manufacturing companies to manufacture new aircraft, reducing the need
for aviation cables.
From the perspective of regional market, North America was the world's largest regional market for aviation cables in 2019 and is expected to maintain this dominance during the forecast period, mainly due to the concentration of leading aircraft manufacturers in North America
.
From the perspective of cable type, aviation cables are not only used in the electrical system of the aircraft, but will also cover the high-performance data transmission needs
required by the aircraft system.
Such high-performance data applications are used in
cabin management systems, Ethernet backbones, computers, servers, and low-skew video.
From the perspective of cable manufacturers, Tyco Electronics, Amphenol, Ametek, Loos & Co.
, Raydier, Pic Wire & Cable, A.
E.
Petsche, Arrow Electronics and Collins will become the world's leading aerospace cable manufacturers
.
According to the latest aviation cable market report released by Research and Markets, the global aviation cable market demand in 2019 was about 3.
53 billion US dollars, and this data is expected to increase to 4.
56 billion US dollars by 2023, with a compound annual growth rate of 6.
64%
during the period.
According to the report, the growing global demand for the production of new aircraft has contributed to the growth of
the aviation cable market.
Aviation cables are mainly used to establish the electrical system of aircraft, including commercial aircraft, military aircraft, civil helicopters, military helicopters, etc
.
The increase in aircraft demand has a positive impact
on the production demand for aviation cables.
The International Air Transport Association (IATA) predicts that the number of passengers will increase from 3.
8 billion in 2016 to 7.
2 billion
by 2035.
According to AirBus' forecast in 2019, air traffic will grow
at an annual rate of 4.
3% by 2038.
Approximately 39,200 new passenger and special-purpose transport aircraft are expected to be added during the period
.
The increase in production of new aircraft will also boost the demand for aviation cables
.
However, on the other hand, the backlog of aircraft will also create certain restrictions
on the growth of this market.
Aircraft backlogs occur when aircraft manufacturing orders are not fulfilled, or there is a risk that delivery dates may be cancelled or delayed, such as the coronavirus outbreak in early 2020, and aircraft accidents that can also affect sales of new aircraft, fierce competition among aircraft manufacturers and the time it takes to build new aircraft in many cases lead to backlogs
.
As a result, a large backlog of aircraft can lead to a loss of opportunity for aircraft manufacturing companies to manufacture new aircraft, reducing the need
for aviation cables.
From the perspective of regional market, North America was the world's largest regional market for aviation cables in 2019 and is expected to maintain this dominance during the forecast period, mainly due to the concentration of leading aircraft manufacturers in North America
.
From the perspective of cable type, aviation cables are not only used in the electrical system of the aircraft, but will also cover the high-performance data transmission needs
required by the aircraft system.
Such high-performance data applications are used in
cabin management systems, Ethernet backbones, computers, servers, and low-skew video.
From the perspective of cable manufacturers, Tyco Electronics, Amphenol, Ametek, Loos & Co.
, Raydier, Pic Wire & Cable, A.
E.
Petsche, Arrow Electronics and Collins will become the world's leading aerospace cable manufacturers
.
