EWIS Market is Forecasted to Reach US$ 2.6 Billion in 2027, Says Stratview Research

The global EWIS market is projected to witness a growth rate of 6.2% annually from 2022 to 2027, with an anticipated size of US$ 2.6 billion by 2027, according to an analysis by Stratview Research.

Stratview Research, a global market research firm, has launched a report on the global EWIS market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more

Click here to get a free sample of the report:
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Market Statistics:
Market Size in 2021: US$ 1.7 billion
Market Size in 2027: US$ 2.6 billion
Growth (CAGR): 6.2% during 2022-2027
Leading Platform Type: Commercial Aircraft
Leading Application Type: Interior
Leading Region: North America
Forecast Period: 2022-2027
Trend Period: 2016-2020
Base Year: 2021
Number of Segments Covered: 6
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the EWIS Market:

The global EWIS market is segmented based on platform type, application type, product type, purpose type, end-user type, and region.

Based on platform type - The EWIS market is segmented as commercial aircraft, military aircraft, general aviation, regional aircraft, and helicopter. Despite being the worst hit from the pandemic, commercial aircraft is expected to remain the largest segment of the market with the share of more than 65% during the forecast period. 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 application type - The EWIS market is segmented as avionics, interiors, airframe, propulsion system, and others. The Interior segment held the dominant position in 2021 and is expected to heal at the fastest pace during 2022-2027. Increased focus of airliners towards enhancing passenger experience and up-gradation of the existing fleet with new IFE systems are the major factors behind the dominance of the interior segment.

To know the most attractive segments, click here for a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/1881/ewis-market.html#form

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America accounted for the largest market share of more than 45% during EWIS during the forecast period. This growth outlook is majorly attributed to the following-
· 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.

Likewise, Asia-Pacific is likely to witness the highest growth during 2022-2027. The region's market is majorly driven by increasing aircraft fleet to support rising passenger traffic; the 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.

EWIS Market Drivers:

Some of the key drivers listed in the report are given below.
• Increase in Global Air Travel- By 2030, the global passenger traffic is forecasted to exceed 12 billion and cross 22 billion by 2053, according to the Airports Council International (aci.aero). The increase in air travel passengers places pressure on fleets necessitating advanced electrical systems which also increases demand for EWIS components.
• Growing adoption of EVs- The increasing use of electric vehicles is boosting the demand for advanced Electrical Wiring Interconnect Systems. By 2030, global EV production is estimated to reach ~75 million units, according to our research. In EVs, complex electrical devices are needed for the safe and reliable distribution of high-voltage power, battery management, and integration with advanced driver assistance systems (ADAS).
• Growth in Electric and Hybrid Aircraft - The aviation industry is shifting towards electric and hybrid aircraft systems gradually, resulting in increasing demand for advanced EWIS systems. These systems are vital for efficient power management and signal transmission in modern aircraft designs.
• Modernization and Fleet Upgrade - Aging aircraft fleet are being upgraded with advanced electrical systems being one of the top priorities. This upgrade process significantly increases the demand for EWIS components, enhancing operational reliability.

Top Companies in the EWIS Market:

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 a presence in aerostructures, electrical wiring systems, landing gears, etc. Similarly, TransDigm Group Incorporated acquired Esterline Technologies Corporation; a leading supplier of advanced materials, avionics & controls, and sensors & systems in 2019. Stratview Research has identified the following companies as the top market players:
• Safran S.A.
• Groupe Latécoère
• GKN Aerospace
• Amphenol Corporation
• TE Connectivity
• TransDigm Group
• Ducommun Incorporated
• AKKA Technologies
• The Angelus Corporation
• CIA&D

What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the market, answering critical questions like
- How big is the sales opportunity?
- Which regions offer the best sales opportunities?
- Which are the most attractive market segments?
- Which are the top players and their market positioning?
- How complex is the business environment?
- What are the factors affecting the market?
For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

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This release was published on openPR.