About Aircraft Engine Electrical Wiring Harnesses and Cable Assembly
An electrical wiring harness is an assembly of electrical cables or wires that transmit signals or electrical power to the engine. These cables are bonded together by using straps and cable lacing. The growth of the global commercial aircraft gas turbine engine market is mainly propelled by the growing global passenger traffic and the demand for fuel-efficient aircraft. Commercial aircraft original equipment manufacturers (OEMs) are actively engaged in the development of new generation aircraft that feature both decreased fuel consumption and reduced noise and carbon emissions.
Technavio’s analysts forecast the global aircraft engine electrical wiring harnesses and cable assembly market to grow at a CAGR of 6.50% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global aircraft engine electrical wiring harnesses and cable assembly market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Aircraft Engine Electrical Wiring Harnesses and Cable Assembly Market 2017-2021
Technavio recognizes the following companies as the key players in the global aircraft engine electrical wiring harnesses and cable assembly market: AMETEK, GKN, Nexans, Safran, and Zodiac Aerospace.
Other Prominent Vendors in the market are: AeroFlite, CarlisleIT, Co-Operative Industries Aerospace & Defense, and TE Connectivity.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is development of CFRP-based electrical harness bracket. The use of CFRP-based parts and components is increasingly employed in aerospace manufacturing. Composites have been playing a vital role in transforming the fuel economy of commercial aircraft. In last three decades, the average fuel utilization of commercial aircraft has plummeted by around 27% for wide-body aircraft, whereas narrow-body aircraft reflected considerable improvements in fuel economy, resulting in a drop of around 35%.”
According to the report, one driver in the market is growing demand for procurement of newer generation aircraft. Globalization has led to a demand for greater access and mobility, specifically faster and reliable transportation. There is also a demand for airline operators to increase the frequency of their response. Many commercial aircraft OEMs are involved in developing new generation aircraft that offer higher fuel efficiency and reduced carbon emissions. The improving economy has led to an increase in the disposable income of individuals in countries like China, India, Russia, and the US. Thus, the demand for air travel is expected to double over the next twenty years.
Further, the report states that one challenge in the market is delays in engine delivery. The significant costs involved in the initial stages of production pose certain challenges for engine OEMs that are investing substantially in the development of new and efficient engines in the market. Pratt & Whitney, one of the major engine manufacturers, sustained a decline in engine delivery in 2016 due to the higher production cost of its geared turbofan (GTF) engines. The company initially aimed to deliver 200 units of engines in 2016. However, disruptions in its production process had led to a drop of 50 engine units. In the initial quarter of 2016, the company sustained production costs of around $10 million for manufacturing each unit of its GTF engine, which was formerly estimated at around $2 million per unit.
AMETEK, GKN, Nexans, Safran, and Zodiac Aerospace, AeroFlite, CarlisleIT, Co-Operative Industries Aerospace & Defense, and TE Connectivity.