(I-BusinessNews.Com, July 23, 2020 ) According to the new market research report the EWIS Market is projected to grow from $5.4 billion in 2018 to $6.8 billion by 2023, at a CAGR 4.66% from 2018 to 2023. The study involved four major activities to estimate the current size of the Electrical Wiring Interconnection System market. Exhaustive secondary research was done to collect information on the market, the peer market and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
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The OEM segment is expected to lead the EWIS market during the forecast period.
Based on end use, the EWIS market has been segmented into OEM and aftermarket. The OEM segment is expected to lead the EWIS market in 2018. The increase in aircraft deliveries in emerging economies such as China and India is expected to drive the growth of the OEM segment of the EWIS market. The use of electrically-driven components in new aircraft is also leading to the growth of this segment as modern technologies used in aircraft require a lot of electrical connections.
The interior segment of the EWIS market is projected to grow at the highest CAGR during the forecast period.
Based on application, the EWIS market has been segmented into propulsion, airframe, interiors, avionics, and others. The interiors segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the need for enhancing passenger travel experience and upgradation of existing aircraft with new IFE systems.
The EWIS market has been studied for North America, Europe, Asia Pacific, and Rest of the World (RoW). The North American region is expected to lead the EWIS market in 2018. The growth of the North America EWIS market can be attributed to the increased aircraft deliveries for both commercial as well as military applications.
Key Market Players
The major players in the EWIS market include Safran (France), GKN Aerospace (UK), Latécoère (France), TE Connectivity (Switzerland), Ducommun (US), and Amphenol Corporation (US), among others. The recent developments section of the report includes information on new products launched by various leading players of the market and contracts received by them between March 2014 and October 2018.
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