![Global Aircraft Wire and Cables Market](https://res.cloudinary.com/devmoveo/image/upload/v1690984804/skyquest/report/phpvV50EG.jpg)
Report ID: SQMIG20A2111
Report ID:
SQMIG20A2111 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
61 |
Figures:
75
Aircraft Wire and Cables Market size was valued at USD 1.5 billion in 2021 and is poised to grow from USD 2.34 billion in 2022 to USD 2.47 billion by 2030, at a CAGR of 5.7% during the forecast period (2023-2030).
The steady growth of the aviation industry, including commercial and military aviation, is a major driver for the aircraft wire and cables market. Increasing air travel, rising defense budgets, and the expansion of regional airlines create a higher demand for aircraft, leading to a greater need for wiring and cables.
Advancements in aerospace technologies have resulted in the development of lightweight, high-performance, and durable wire and cable solutions. These innovations not only improve aircraft performance but also lead to enhanced safety and fuel efficiency, driving the market's growth.
Many airlines and defense forces are upgrading their aging aircraft fleets with newer, more fuel-efficient, and technologically advanced models. This modernization effort often requires the replacement of existing wire and cable systems with newer ones, stimulating the demand in the market.
Aircraft manufacturers are increasingly focusing on electrical systems as an alternative to hydraulic systems. Electrical systems are lighter, consume less power, and offer greater reliability. This shift necessitates the adoption of advanced wiring and cables to support the electrical infrastructure in aircraft.
US Aircraft Wire and Cables Market is poised to grow at a sustainable CAGR for the next forecast year.
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Report ID: SQMIG20A2111