Market Forecast
Electrical Wiring Interconnection System Market Size is expected to grow USD 7.78 Billion at a CAGR 4.61% by during the forecast period.
The rapidly growing demand for electronics in aircraft systemsand theincreased demand for upgrading existing aircrafthas significantly contributed to the growth of the global market. Furthermore, the stringent aviation regulations regarding aircraft and passenger safety are also encouraging aircraft OEMs and airlines to invest in EWIS.
Additionally, the growing adoption of EWIS in military rotorcrafts is also expected to drive the growth of the global market. For example, in June 2019, Safran signed a contract with Airbus S.A.S to provide electrical wiring for Airbuss H160 military helicopters.
However, issues related toexisting aircraft backlogsand stringent regulatory norms are expected to hamper of the electrical wiring interconnection system market development.
Key Players:
Safran (France), GKN Aerospace Services Limited (UK), Latecomer (France), Esterline Technologies (US), Ducommun Incorporated (US), TE Connectivity (Switzerland), Amphenol Corporation (US), Co-Operative Industries Aerospace Defense (CiaD) (US), Elektro-Metall Export GmbH (Germany), InterConnect Wiring (US)
Market Segmentation:
The OEM segment is likely to register the higher growth rate: The OEM segment is expected to register the higher CAGR during the study period, 2020 to 2026, owing to the rising demand for new aircraft across the globe to cater to the growing air passenger traffic.
Interiors segment is expected to be the fastest-growing: The interiors segment is expected to register the highest CAGR during the study period, 2020 to 2026.The growth of the interiors segment can be attributed to the increasing up-gradation of the existing aircraft with new IFE systems to offer enhanced traveling experience to passengers.
Connectors and Connector Accessories segment is expected to register the highest CAGR:Theconnectors and connector accessoriesto register the highest CAGR during the study period. Manufacturers are currently focusing on developing EWIS components that offer enhanced reliability, accuracy, and efficiency. Continuous improvements in systems have modified the human-machine interface of EWIS.
Commercial Aviation segment is expected to register the higher CAGR: The commercial aviation segment is projected to grow at the higher CAGR due tothe use of electrically driven components in new aircraft is also leading to the growth of this segment as modern technologies used in aircraft require a lot of electrical connections.
Regional Analysis:
Technology advancements such as automatic 3D routing and the growing demand for fly-by-optics are expected to drive the growth of the market.
Region that is driving the market are segmented as per electrical wiring interconnection system market statistics are North America, Europe, Asia-Pacific and rest of the world.
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