Aerospace Wires & Cables Market is Forecast to Reach US$ 975.1 Million in 2028, Says Stratview Research.

The Aerospace Wires & Cables Market is likely to grow at a significant CAGR of 9.5% during 2023-2028, to reach US$ 975.1 Million in 2028, states Stratview Research.

DETROIT, Dec. 20, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the Aerospace Wires & Cables Market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on Aerospace Wires & Cables Market

The Aerospace Wires & Cables Market is segmented based on Platform Type, Application Type, Product Type, Material Type, Purpose Type, and region.

Based on platform type - The aircraft wires & cables market is segmented as commercial aircraft, regional aircraft, general aviation, military aircraft, helicopters, and others. Commercial Aircraft is expected to dominate the market in 2022 and is expected to register a higher CAGR, during the forecast period. The increasing production rates of various commercial aircraft are the major factor, which is expected to drive the segment growth. Airbus forecasts a demand for 32,630 single-aisle and 8,220 wide-body aircraft over the next 20 years. similar estimation of over 40,000 commercial and regional aircraft deliveries by Boeing in the next twenty years.

Based on the application type - The market is classified as avionics, interiors, propulsion systems, airframes, and others. Among all the segments, interior applications are likely to be the key demand generators for wires & cables during the forecast period, owing to the rising penetration of IFECs. Moreover, the avionics segment is expected to record significant growth, during the forecast period, as there will be a larger usage of wires & cables, with the transition to digital avionic systems in modern aircraft. High speed, lighter weight, compactness, and durability of wires & cables are the key requirements for avionics applications.

Based on the product type - The market is bifurcated into hook-up wires, coaxial cables, data bus cables, power cables, and others. The hook-up wires segment held the largest share of the market in 2022 owing to its widespread usage in aerospace interiors and avionics. Data bus cables aren't far behind and have captured around one-fourth share in 2022. Data bus cables are widely used in avionics, in-flight entertainment, and communication needs. The latter is also expected to record the fastest long-term growth during the forecast period.

Based on the material type - The market is segmented into PTFE tape, polyimide tape/PTFE tape, polyimide tape/UV laser markable, and others. PTFE tape is expected to remain the dominant material type in the market during the forecast period, as these wires can withstand high power as well as protect cables from fire and heat. PTFE tape also has excellent low dielectric properties, exhibits low-loss factors, has unique resistance to high temperatures, chemical reactions, and corrosion; and FST.

Based on the purpose type - The market is segmented into general-purpose wires & cables and special-purpose wires & cables. General-purpose wires & cables dominated the market due to the wide-scale requirements for standard aerospace electrification, onboard and ATC communication, and navigation.

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Which Region Offers the Best Opportunity and Growth?

The report suggests that North America is likely to take the lead in the market. This growth is majorly attributed to the following –

-  A robust supply chain with the presence of several stakeholders.

-  Key wires & cables suppliers in the region are TE Connectivity, Judd Wire, Inc., Marmon Group, W.L.Gore, Allied Wire & Cable, Specialty Cable Corporation (SCC), and Harbour Industries.

Likewise, With the highest growth (YoY) in the demand for aerospace wires & cables in 2022, Asia-Pacific is expected to remain the fastest-growing market, during the forecast period.

Aerospace Wires & Cables Market Drivers

Some of the key drivers listed in the report are given below.

-  Rebounding commercial aircraft production.

-  Increasing use of wires & cables in modern aircraft.

-  Fervent efforts toward developing electric aircraft.

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Top 5 Companies in Aerospace Wires & Cables Market?

The market is fairly consolidated with the presence of some global and regional players. Stratview Research has identified the following companies as the top market players.

• Carlisle Companies, Inc.
• TE Connectivity
• Nexans S.A.
• Judd Wire Inc.
• Prysmian Group

What Deliverables Will You Get in this Report?

Related reports which might be useful:

•  Aerospace Actuators Market 

•  Aircraft Wiring Harness Market

About us –

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

It launches a limited number of reports annually on the above-mentioned specializations. The reliability and insightfulness of the reports enable the readers to take convincing business decisions.

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SOURCE Stratview Research