wire Trade Fair 2024 Industry Insights: Overview of the Aerospace Wire and Cable Market
wire Trade Fair 2024 has identified that the aerospace wire and cable market can be segmented based on platform type, application type, product type, material type, usage type, and region.
The aircraft wire and cable market is divided into commercial aircraft, regional aircraft, general aviation, military aircraft, helicopters, and more. In 2022, the commercial aircraft segment dominated the market. Airbus predicts a need for 32,630 single-aisle aircraft and 8,220 wide-body aircraft over the next 20 years. Boeing also forecasts the delivery of over 40,000 commercial and regional aircraft in the same period. The increase in production rates of various commercial aircraft is expected to drive higher compound annual growth rates, boosting the growth of this segment during the forecast period.
In terms of application, the market is divided into avionics, interiors, propulsion systems, fuselage, and more. Due to the increasing penetration of IFEC (In-Flight Entertainment and Connectivity), interior applications are projected to be the primary demand source for wires and cables during the forecast period. Additionally, the transition of modern aircraft to digital avionics systems, along with the critical requirements for high-speed, lightweight, compact, and durable wires and cables, will drive demand in the avionics sector, which is expected to show significant growth.
The market is segmented into harnesses, coaxial cables, data bus cables, power cables, and more. In 2022, the harness segment held the largest market share, given its extensive use in aerospace interiors and avionics. wire Trade Fair 2024 also noted that data bus cables captured about a quarter of the market share in 2022 and are expected to show rapid growth during the forecast period.
Based on usage, the market is divided into general-purpose wires and cables and specialty wires and cables. General-purpose wires and cables dominate the market due to the widespread requirements of standard aerospace electrification, onboard and air traffic control communications, and navigation.
This detailed segmentation and the growth projections highlight the dynamic nature of the aerospace wire and cable market, indicating significant opportunities for development and investment in the coming years.
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