Europe Aircraft Wire & Cable Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type, Aircraft Type, Fit Type, and Application

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. The Europe aviation industry is growing at an unprecedented rate, recording substantial number of production volumes of military and commercial aircraft fleet. In the past few years, the commercial aircraft fleet has seen tremendous growth due to the influx of new low-cost carriers (LCCs) and fleet expansion strategies adopted by the full-service carriers (FSCs). Commercial aviation industry is predicted to upsurge soon due to the rising air travel passengers and aircraft procurement. Air passenger traffic in Europe has been surging with time, which is compelling the demand for commercial aircraft. Airbus and Boeing are the two aircraft manufacturing giants with significantly greater volumes of orders and delivery statistics. These two aircraft original equipment manufacturers (OEMs) are continuously encountering orders for various aircraft models from different civil airlines. Additionally, innovative aircraft solutions getting developed is among the other factors expected to fuel the demand for aircraft wire & cables in Europe.

Based on aircraft type, the commercial segment led the Europe aircraft wire & cable market in 2020. Commercial aircraft segment also includes business as well as private gets along with the commercial passenger and cargo aircrafts. The Europe commercial aviation sector is expanding at a significant rate year on year attributing to increase in air travel passengers across the Europe. The growth in air travel has increased significantly over the years due to increase in disposable income among the middle-class society and upper middle-class society. Moreover, reduction in travel time and increase in comfort ability are also acting as growth factors for commercial aviation. This is leading the aircraft manufacturers to procure increased number of aircraft wire and cable as well as other components to meet the rising demand for aircraft deliveries. Also, in terms of maintenance, repair and overhaul activities, the commercial aviation sector is progressing significantly over the years. Pertaining to the increasing safety concerns of the aircrafts, passengers, and crew, the commercial airliners are increasing their aircraft maintenance activities, which is boosting the procurement of aircraft parts and components including wire and cable. Similarly, rotary wing aircraft maintenance is also rising owing to increasing flying hours of the helicopters, which is resulting in replacement of different types of wire and cable fitted on the helicopters. This factor is catalyzing the growth of Europe aircraft wire & cable market.

The ongoing COVID-19 is negatively impacting the Europe region. Due to the COVID-19 outbreak, Russia, the UK, France, Italy, Spain, and Germany are some of the worst affected member states in the European region. Businesses in the region faced 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 COVID-19 among its citizens. European countries represent a major demand for aircraft wire and cable 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 effect on the European aircraft wire & cable market.

The overall Europe aircraft wire & cable market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Europe aircraft wire & cable market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the Europe aircraft wire & cable market. 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. are among the key players operating in the Europe aircraft wire & cable market.

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