What are the Historical Developments and Current Growth Metrics of the Aircraft Cables Market?
The aircraft cables market has seen considerable growth due to a variety of factors.
• The market size for aircraft cables has seen significant expansion in the previous years. The market, standing at $4.67 billion in 2024, is projected to reach $5 billion in 2025 with a compound annual growth rate (CAGR) of 7.2%.
Factors contributing to this growth during the historical period include the production and expansion of aircraft fleets, technological progression, adherence to regulations, increasing age of aircraft, alongside maintenance and repair requirements.
What is the Forecasted Market Size and CAGR for the Aircraft Cables Market in the Coming Years?
The aircraft cables market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of aircraft cables is forecasted to experience robust growth in the following years, swelling to a value of $6.77 billion in 2029 with a compound annual growth rate (CAGR) of 7.9%.
Various factors are expected to contribute to this expansion in the forecasted period such as the modernization and electrification of aircraft, utilization of lightweight and high-tech materials, enhanced connectivity and data transmission, and sustainable aviation. Key trends anticipated in the forecasted period encompass the use of lightweight materials, high-performing materials, fiber optic cables, safety and reliability measures, incorporation of wireless communication, and the protection from shielding and electromagnetic interference (emi/rfi).
What Key Factors and Trends Are Driving The Growth Aircraft Cables Market?
The rise in the demand for new aircraft production worldwide contributes to the expansion of the aircraft cable market. These cables are integral in creating the electrical system of an aircraft and transforming signals into electrical power in commercial and military aircraft, as well as civil and military helicopters. Consequently, higher demand for aircraft positively impacts the requirement for the production of aircraft wires. For instance, the International Air Transport Association (IATA), based in Canada, reported in March 2021 that the overall number of travelers is expected to grow by 83% in 2022, 94% in 2023, 103% in 2024, and 111% in 2025. Furthermore, Airbus's 2022 forecast predicts a 3.6% growth in passenger traffic over the upcoming two decades, resulting in demand for 39,490 new passenger and freighter aircraft during this time. This rise in new aircraft production will inevitably lead to a surge in the demand for the aircraft cables market.
What Are The Market Segments In The Aircraft Cables Market?
The aircraft cables market covered in this report is segmented –
1) By Type: Stainless Steel Material, Galvanized Steel Material
2) By Aircraft Type: Military Aircraft, Civil Aircraft
3) By Sales Channel: After market, Original Equipment Manufacturer (OEM)
4) By Application: General Aviation, Airliner, Business Aircraft, Other Applications
Subsegments:
1) By Stainless Steel Material: 302 Stainless Steel, 304 Stainless Steel, 316 Stainless Steel
2) By Galvanized Steel Material: Zinc-Coated Galvanized Steel, Hot-Dipped Galvanized Steel
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What Trends Are Shaping The Aircraft Cables Market?
Leading firms in the aircraft cables market are prioritizing the creation of technologically advanced solutions such as next-generation high-voltage aircraft cables to meet numerous crucial industry needs. These next-generation high-voltage aircraft cables are advanced electrical cables built to accommodate the increased power needs of modern and forthcoming aircraft systems, specifically electric and hybrid-electric aircraft. Nexans S.A., a French automation business, launched a line of next-generation high-voltage cables in June 2023, for instance. These were developed to aid the decarbonization initiatives of the aerospace industry, with an aim to achieve carbon neutrality by 2050. These groundbreaking cables have a greater power density, operation free from partial discharge, and a broad voltage span from 600V to 6,000V, making them 20 times more efficient than conventional aircraft cables. Nexans is also dedicated to sustainability, working toward minimizing the ecological footprint of its products by utilizing innovative materials and low-carbon solutions, contributing to the development of a more environmentally-friendly aerospace sector.
Who Are the Key Players In The Aircraft Cables Market?
Major companies operating in the aircraft cables market include:
• TE Connectivity
• Amphenol Corporation
• AMETEK Inc.
• Loos and Co. Inc.
• Radiall SA
• Pic Wire and Cable
• W.L. Gore and Associates Inc.
• A.E.Petsche
• Arrow Electronics Inc.
• Collins Aerospace
• Harbour Industries LLC
• Leviton Manufacturing Co. Inc.
• Specialty Wire and Cord Sets Inc.
• Interconnect Cable Technologies Corp.
• Aerospace Wire and Cable Inc.
• Lexco Cable Manufacturing
• WireMasters Inc.
• Carl Stahl Sava Industries Inc.
• Glenair Inc.
• PPG Industries Inc.
• Crane Aerospace & Electronics
• AeroControlex Group Inc.
• Aero-Electric Connector Inc.
• Amphenol Corporation
• B/E Aerospace Inc.
• Carlisle Companies Inc.
• Dassault Aviation SA
• Ducommun Incorporated
• Esterline Technologies Corporation
• GKN Aerospace
• Honeywell International Inc.
• ITT Inc.
• L3Harris Technologies Inc.
• Meggitt plc
• Moog Inc.
• Parker Hannifin Corporation
• RTX Corporation
• Safran SA
• Senior plc
• Spirit AeroSystems Holdings Inc.
• Triumph Group Inc.
What Are The Regional Insights Into The Aircraft Cables Market?
North America was the largest region in the aircraft cables market in 2023. The regions covered in the aircraft cables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
