Aircraft Wiring Harness Market worth $3.99 Billion by 2030 - Exclusive Report by The Insight Partners

The global aircraft wiring harness market is growing at a CAGR of 6.8% from 2022 to 2030

Pune, India, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Wire harnesses have a finite operational life, and they often need to be replaced during MRO activities. MRO services are often necessary to ensure that aircraft remain compliant with the latest regulations. This can involve the inspection and replacement of wire harnesses to meet updated standards. Therefore, with the growing demand for MRO services, the need for Aircraft Wiring Harness es is increasing globally, thereby driving the market expansion.

Aircraft Wiring Harness Market in terms of revenue was estimated to be worth $2.36 billion in 2022 and is poised to reach $3.99 billion by 2030, growing at a CAGR of 6.8% from 2022 to 2030 according to a new report published by The Insight Partners.

Wire harness terminals are employed in the cockpit for controls, instrumentation, and communication systems. They are also used in cabin systems for passenger amenities and safety features. Hence, the growing aviation industry globally, coupled with a rise in the incorporation of electronic devices in the airline sector, is anticipated to boost the segment growth

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Global Aircraft Wiring Harness Market Scope:

Report CoverageDetails
Market Size Value inUSD 2.36 Billion in 2022
Market Size Value byUSD 3.99 Billion by 2030
Growth rateCAGR of 6.8% from 2022 to 2030
Forecast Period2022 to 2030
Base Year2022
Segments coveredAircraft Type, Application, End User, and Geography
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America.
Country scopeArgentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Report coverageRevenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Surge in Demand for MRO Services to Fuel Aircraft Wiring Harness  Market Growth During Forecast Period
The demand for airline maintenance, repair, and operations (MRO) services is increasing with the rapidly growing aviation industry over the past few years. Emerging economies are highly focused on extending MRO services to military as well as commercial aircraft companies. Major aircraft MRO companies include GE Aviation; AAR Corp.; Safran SA.; Raytheon Technologies Corporation.; Lufthansa Technik AG.; Guangzhou Aircraft Maintenance Engineering Co., Ltd. (GAMECO); MTU Maintenance; and ExecuJet Haite Aviation Services China Co., Ltd. Heavy spending on aviation infrastructure, economic growth, and increase in passenger count are a few factors propelling the adoption of aircraft maintenance services. Moreover, the growing number of middle-class travelers in North America, Europe, and APAC is majorly contributing to air travel growth, consequently increasing the need for aircraft maintenance services across these regions. Due to well-established MRO hubs, most Asian, American, and European countries produce a large amount of revenue from the markets for aviation MRO.

For instance, Singapore dominates the market in Asia Pacific due to its established MRO hubs, and major industry players such as GE Aviation, Airbus, and Rolls-Royce have substantial footprints in the country. According to the Wisconsin Economic Development Corporation (WEDC), Singapore houses 120 aerospace companies. As many aircraft in service are aging due to accumulated flight hours, there is a significant need for maintenance and upgrades, including replacing outdated wire harnesses.

Aircraft Wiring Harness  Market: Industry Overview
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.

In 2022, Asia Pacific led the global Aircraft Wiring Harness  market with a substantial revenue share, followed by Asia Pacific and Europe. Asia Pacific has several aircraft harness market players seeking contacts from various aircraft manufacturers. SASMOS Interconnection Systems Limited (FE-SIL), a joint venture between SASMOS and Fokker Elmo, has been producing electrical wiring interconnection systems, including wire harnesses for P-8A and P-8I, for the aerospace industry. For instance, in November 2022, Boeing awarded the contract to SASMOS JV to supply over 6,600 wiring harnesses for the upcoming 16 P-8A Poseidon aircraft. Several players across Japan are launching aircraft wiring harness systems. For instance, in July 2022, Kawasaki Heavy Industries, Ltd. introduced the E3.series electrical control and wire harness design system and the DS-E3 product data management system (PDM) from Zuken Inc. for the electrical design of aircraft for the Japanese Ministry of Defense.

In China, various steps are being taken by key players to develop aircraft wire harnesses. For instance, in August 2020, Dornier Seawings China officially began producing avionics wiring harnesses. It was estimated that 93 wire harness assemblies are fabricated and delivered to DSG by the end of 2020 to support the design of the SN1004 prototype. Wiring harness production is a significant step toward DSW's goal of building the full aviation manufacturing industry chain.

Various players are also expanding to form maintenance, repair, and operations (MRO) in China. For instance, in February 2022, Collins Aerospace expanded its MRO capacity in China. This expanded capacity will assist Collins' customers in the region to benefit from faster turnaround time and more efficient service. Thus, the expanded MRO facility will propel the growth of the Aircraft Wiring Harness  market.

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Aircraft Wiring Harness  Market: Competitive Landscape and Key Developments
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 leading market players profiled in the Aircraft Wiring Harness  market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their market growth. A few developments are mentioned below:

  • In July 2022, Collins Aerospace agreed to collaborate with Morocco's Ministry of Industry to create an ecosystem based on an existing platform. It will create a network of vendors in the country to produce wire harnesses, fuselage, wing, and engine parts.
  • In November 2021,  Interconnect Solutions Company LLC acquired Tri-Tek Electronics to strengthen aerospace, space, and military expertise and expand complex assembly capacity. Tri-Tek Electronics Inc., headquartered in Valencia, California, manufactures high-performance interconnect systems, RF assemblies, wire harnesses, and cable assemblies. The acquisition brings deep expertise in the aerospace, military, and defense industries, working on sophisticated projects such as space launch systems, space stations, exploration rovers, and weapons systems.
  • In September 2023, In the United Arab Emirates (UAE), Samvardhana Motherson International Ltd (SAMIL) launched a new wiring harness manufacturing facility to sell to European markets. According to the corporation, the 11,000 square meter greenfield plant in Ras Al Khaimah Economic Zone (RAKEZ) was constructed. There will be 500 individuals working there.
  • In July 2023, Samvardhana Motherson Automotive Systems Group BV (SMRPBV), a step-down subsidiary of Samvardhana Motherson International Limited (SAMIL), signed a binding undertaking to acquire a 100% stake in CIRNIA Entreprise. This acquisition is being made to diversify SMRPBV's Electrical Wiring and Interconnect Systems (EWIS) portfolio for aircraft, shipbuilding, and other industries.

Go through further research published by The Insight Partners:
Electric Vehicle Wiring Harness Market - Global Analysis and Forecast to 2028.
Railway Wiring Harness Market - Global Analysis and Forecast to 2030.
Wire Harness Market - Global Analysis and Forecast to 2030.

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