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EWIS Market Size, Impacted by COVID-19, to Reach US$ 2.1 Billion in 2026, Says Stratview Research
EWIS stands for Electrical Wiring Interconnect System or electrical wiring interconnection system. As per FAR25, EWIS is the wiring system of an aircraft, installed in any area of the aircraft for transmitting electrical energy, including data and signals between two or more intended termination points. .
The aircraft industry had been flourishing for the past 16 years. But the grounding of B737 Max across regions in 2019 put a break in the industry's growth acceleration, whose adverse impact was particularly felt in the North American market. The sudden outbreak of the Covid-19 pandemic further deepened the industry challenges with several bankruptcies, huge COVID-related costs leading to negative cash flows, and supply-chain disruption. Mirror effects of these challenges were also witnessed on the demand for EWIS, which recorded a colossal decline of 30% in 2020. This has forced all the leading industry stakeholders to start focusing on liquidity management by leveraging their available short- as well as long-term cash avenues.
Nevertheless, the aerospace industry is likely to bounce back shortly, backed by strong industry fundamentals and a proven track record in handling crises. Resuming aircraft deliveries, ungrounding of B737 Max, and revamp in the production rate of key programs such as A320, are heading the industry towards recovery. .
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Based on the platform type, despite being the worst hit from the pandemic, . By the end of June 2021 , Boeing and Airbus had an order backlog of 5,084 and 6,925 aircraft units. At present build rates, this massive pile of commercial aircraft order backlogs will allow both airframers to continue rolling out aircraft for the next eight to ten years. Upcoming aircraft programs, such as C919, B777X, and MC-21, are expected to further strengthen the position of commercial aircraft in the EWIS market.
Based on the application type, the EWIS market is segmented as avionics, interiors, airframe, propulsion system, and others. . Increased focus of airliners towards enhancing passenger experience and upgradation of the existing fleet with new IFE systems are the major factors behind the dominance of the interior segment.
In terms of regions, . The USA is the growth engine of the region's market with the presence of major aircraft OEM's, tier players, EWIS players, and MRO companies. Most of the major players in the EWIS market have their presence in the region to cater to the emergent needs of OEMs and to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.
However, . The region's market is majorly driven by increasing aircraft fleet to support rising passenger traffic, opening of assembly plants of Boeing and Airbus in China for multiple programs, increasing production and procurement of military aircraft owing to the rising defense budget and growing territorial disputes among key economies, and upcoming indigenous aircraft program C919. China , Japan , and India are expected to remain the growth engines of the Asia-Pacific market.
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The EWIS market is slowly heading towards consolidation as major players are acquiring other leading players to gain share in this healthy growing market. For instance, in 2015, GKN Plc acquired Fokker Technologies Group B.V. a leading tier-I supplier having presence in aerostructures, electrical wiring systems, landing gears, etc. Similarly, TransDigm Group Incorporated acquired Esterline Technologies Corporation in 2019, a leading supplier of advanced materials, avionics & controls, and sensors & systems.
Key players in the EWIS Market are
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the EWIS market and has segmented the market in six ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the six ways in which the market is segmented:
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