Market Trends of Aerospace Wiring Harness Industry
The Commercial Aircraft Market Segment Is Anticipated To Witness Highest Growth During The Forecast Period
Throughout 2022, global air passenger traffic gained momentum and recovered substantially as travel restrictions were taken down and passengers expressed a very strong willingness to travel. According to the data presented by the International Air Transport Association (IATA), in 2022, air passenger traffic gained momentum globally and recovered substantially from 41.7% of 2019 revenue passenger kilometers (RPKs) in 2021 to 68.5% in 2022. Moreover, domestic RPKs recovered to 79.6% of pre-pandemic passenger traffic in 2022 and grew 10.9% year-on-year from 2021 levels. International RPKs recovered to 62.2% of 2019 traffic and grew 152.7% YoY from 2021 levels. Furthermore, an increase in the number of aircraft deliveries worldwide in recent years has given a major boost to the development of advanced wiring harness systems for commercial aviation.
According to data from SourceOne spares, Boeing almost doubled Airbus in terms of aircraft deliveries, In 2023 Boeing delivered 38 aircraft in January compared to Airbus delivering 20. In addition, of the 38 aircraft delivered by Boeing, 35 were B737s (all MAX) and three were B787s. On the other hand, in January 2023, Airbus delivered 20 jets including 16 A320s, two A220s, and one each of the A330 and A350 models. In addition, the official A320 production rate is 45 aircraft per month and has remained at this level since the end of 2021. On average, the company delivered 43 A320s per month in 2022.
Electrical wiring harnesses have practically different configurations for each aircraft due to the different certification requirements according to the country where the aircraft will operate couppled with innovations and improvements in the aircraft systems along the life cycle of the aircraft. Moreover, the two most generally used conductors in designing aircraft wiring harness for commercial aircraft are aluminium and copper and each has its own characteristics. In addition, aluminum is used extensively owing to its lightness and its relatively large diameter which reduces the discharge of electricity from the wire. On the other hand, copper has a higher conductivity, relatively high tensile strength and can be easily soldered. In the current scenario, commercial aircraft make use of wire that is manufactured under MIL-W-22759 specifications and complies with current FAA requirement.
Thus, the increasing number of aircraft deliveries coupled with the increase in the air passenger traffic will lead to the growing demand of additional commercial aircraft by various countries and wiring manufacturers will have the opportunity to design advanced wiring harness in order to meet future requirements thereby leading to the market witnessing significant growth during the forecast period.
North America Will Showcase Remarkable Growth During the Forecast Period
According to reports from Airport Council International, in 2022, North American airports experienced a robust recovery in international passenger traffic with an increase of 117.2 percent from 2021. Similarly, domestic passenger traffic grew by 25.8 percent from 2021. Moreover, Hartsfield-Jackson Atlanta International Airport (ATL) remained the busiest airport in North America and the world in 2022 with 93.6 million passengers, an increase of 23.8 percent from 2021. In addition, aircraft movements in North America continued to increase in 2022 after the sharp decline experienced during the pandemic. Total aircraft movements increased by 9.2 percent in 2022 compared to 2021. This increase was driven by a robust recovery of 14.8 percent in passenger and combination aircraft movements.
North America has a well-developed and technologically advanced aerospace industry. It is home to major aircraft manufacturers, such as Boeing and Lockheed Martin, as well as numerous suppliers and service providers. The region's strong presence in commercial and military aviation drives the demand for aerospace wiring harnesses. In addition, North America is also a major hub for aircraft production, with a significant number of commercial and military aircraft being manufactured in the region. Also, the region is known for its focus on technological advancements and innovation in the aerospace industry. Thus, the increasing number of aircraft orders in the region will also create parallel demand for aerospace harnesses, thereby driving the market in focus in the region during the forecast period.
