Electrical Wiring Interconnection System Market Forecasts to 2030 - Global Analysis By Type, Aviation Type, Sales Channel, Application and by Geography

According to Stratistics MRC, the Global Electrical Wiring Interconnection System (EWIS) Market is accounted for $7.45 billion in 2023 and is expected to reach $11.71 billion by 2030 growing at a CAGR of 6.66% during the forecast period. The Electrical Wiring Interconnection System (EWIS) is a crucial component in the aerospace and aviation industries, encompassing the complex network of wiring, connectors, and associated components that facilitate the transmission of electrical power and signals throughout an aircraft, EWIS plays a vital role in ensuring the seamless operation of various avionic systems, including navigation, communication, and control systems. It involves meticulous planning, installation, and maintenance to guarantee the reliability and safety of the aircraft.

According to the International Association of Electrical Inspectors (IAEI), proper adherence to electrical codes and standards is paramount to ensuring the safety of electrical installations in both residential and commercial settings.

Market Dynamics:

Driver:

Demand for fuel-efficient and lightweight aircraft

In an effort to lower operating costs and achieve environmental sustainability targets, the aviation industry is putting more and more effort into creating lightweight, fuel-efficient aircraft. Additionally, the wiring systems, as a crucial component, must be in line with the use of lightweight materials and streamlined designs. One important market driver is the need for EWIS that ensures optimal performance while aiding in weight loss.

Restraint:

High starting prices

Advanced EWIS adoption frequently entails higher upfront costs for design, installation, and safety standard compliance. Financial limitations may be faced by aircraft operators and manufacturers, impeding the widespread adoption of advanced wiring systems. Furthermore, the upfront cost can be a major deterrent despite the possible long-term advantages, particularly for smaller operators and those with limited resources.

Opportunity:

Growing interest in electric aircraft

The market for Electrical Wiring Interconnection Systems (EWIS) has a lot of potential due to the growing interest in electric aircraft. The transition to electric propulsion systems necessitates the use of specialized wiring solutions that can manage electrical components with high voltage. Moreover, producers who offer inventive, lightweight, and dependable EWIS specifically designed for electric aircraft are poised to gain from this developing market niche.

Threat:

Market saturation and fierce competition

The growing number of players entering the Electrical Wiring Interconnection System (EWIS) market increases the risk of fierce competition and market saturation. Product differentiation may be compromised as businesses compete for contracts and market supremacy. Furthermore, price wars could result from this situation, reducing profit margins and jeopardizing the viability of companies in the sector. To keep a competitive edge, diversification tactics and an emphasis on technological innovation become essential.

Covid-19 Impact:

The aviation industry has experienced significant disruptions due to the COVID-19 pandemic, which has had a profound effect on the Electrical Wiring Interconnection System (EWIS) market. Project delays, cancellations, and a slowdown in the order of new aircraft were the results of the sharp decline in the demand for air travel, grounded fleets, and financial pressures on airlines. EWIS providers faced difficulties as a result of manufacturing and supply chain disruptions, as well as uncertainty in the global economy. Moreover, the pandemic hastened the need for cost-cutting strategies, which has an effect on capital projects and R&D programs.

The Connectors and Connector Accessories segment is expected to be the largest during the forecast period

This market is anticipated to hold the largest share in the connectors and connector accessories segment. In aircraft wiring systems, connectors are essential for the smooth transfer of power and electrical signals. These parts offer safe and dependable connections between different electrical network components, guaranteeing the correct operation of avionics, communication systems, and other crucial aircraft systems. Furthermore, the ongoing advancements in aviation technology, such as the incorporation of contemporary avionics, in-flight entertainment systems, and the requirement for high-performance, lightweight wiring solutions, are driving the demand for sophisticated connectors and accessories.

The Commercial Aviation segment is expected to have the highest CAGR during the forecast period

In the market, the commercial aviation segment is projected to have the highest CAGR. A number of factors, including the growth of air travel, the introduction of fuel-efficient aircraft models, and the integration of sophisticated avionics and in-flight entertainment systems, have consistently driven the demand for sophisticated and efficient wiring solutions in commercial aircraft. Additionally, modern EWIS is in constant demand in the commercial aviation industry due to the ongoing increase in air travel worldwide and the necessity of fleet replacements and upgrades.

Region with largest share:

The market is expected to have the largest share in North America. The presence of significant aerospace manufacturers, a firmly established aviation industry, and a steady demand for cutting-edge aircraft systems are all factors contributing to the region's dominance. Leading the way in EWIS innovation and technological advancements is the United States, home to major aerospace players. Moreover, the regions focus on updating and modernizing its current fleets of aircraft, along with continuous advancements in electric and hybrid-electric propulsion systems, adds to North America's significant market share in the EWIS segment.

Region with highest CAGR:

The market's highest CAGR is predicted for the European region. Strong aerospace companies that are leaders in both aircraft manufacturing and technological innovation define the region. The UK, Germany, and France are among the European nations that have led the way in aviation technology advancements. The substantial growth of the EWIS market in Europe can be attributed to the European aviation sector's focus on sustainability as well as ongoing projects in electric aviation and modernization initiatives. Furthermore, Europe is positioned to play a significant role in the growing market for sophisticated electrical wiring systems due to its dedication to research and development as well as its emphasis on adhering to strict safety and environmental regulations.

Key players in the market

Some of the key players in Electrical Wiring Interconnection System (EWIS) market include Esterline Technologies, Safran, Co-Operative Industries Aerospace & Defense (Cia&D), Ametek, Ducommun Incorporated, GKN Aerospace Services Limited, Amphenol Corporation, Elektro-Metall Export GmbH, Carlisle Companies, Latecoere, TE Connectivity, Leviton, The Angelus Corporation (Pic Wire & Cable) and UTC (Rockwell Collins).

Key Developments:

In February 2024, Safran Electrical & Power and Malaysia Airlines Berhad (MAB) signed an exclusive service contract to maintain electrical harnesses for their CFM56-7B engines, for a period of three years. This contract covers more than 40 of the airline's Boeing 737 fleet. Beyond this contract, Safran Electrical & Power continues to support MAB's operations through regional representatives located in Singapore for all customer support activities. Safran Electrical & Power will provide repair and maintenance support on these CFM56-7B engine harnesses.

In November 2023, AMETEK has entered into a definitive agreement to acquire Paragon Medical, a provider of highly engineered medical components and instruments, from affiliates of American Securities in an all-cash transaction valued at approximately $1.9 billion. Paragon Medical serves a wide range of specialty applications including orthopaedics, minimally invasive surgery, robotic surgery, and drug delivery.

In November 2023, GKN Aerospace owner Melrose signed a new $5bn (£4bn) deal with aircraft engine supplier GE Aerospace this morning, prompting shares to jump 4 per cent. The new aftermarket services agreement will widen Melrose's GKN Aerospace division's current partnership with GE, surrounding its fastest selling high-thrust GEnx engines.

Types Covered:

• Wire and Cables
• Connectors and Connector Accessories
• Electrical Grounding and Bonding Devices
• Electrical Splices
• Protection Materials
• Clamps
• Pressure Seals
• Other Types

Aviation Types Covered:

• Commercial Aviation
• Military Aviation
• Business and General Aviation
• Other Aviation Types

Sales Channels Covered:

• OEM
• Aftermarket
• Other Sales Channels

Applications Covered:

• Avionics
• Interiors
• Propulsion
• Airframe
• Power Plant
• Railways
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances