The global aircraft wire and cable market is expected to grow from $695.2 million in 2017 to $926.4 million in 2022, with a compound annual growth rate of 5.91 percent, according to a report released by MarketsandMarkets, the world's second largest market research institute.Increased orders for new aircraft worldwide and modernization of existing aircraft were key factors driving the aircraft wire and cable market during the forecast period, according to the report.
Aircraft cable manufacturing and installation technical innovation
The aircraft wire and cable segment is expected to grow at the highest compound annual rate due to increased demand for telex and more electric aircraft, according to projections from MarketsandMarkets.Aircraft wires and cables are expected to grow at a higher compound annual rate through 2022 due to increased aircraft orders and deliveries, regional economic growth and increased air passenger traffic.
According to aircraft type, the aircraft wire and cable market has been divided into civil aircraft and military aircraft.Civil aircraft power lines and cables have grown significantly as a result of increased air traffic and rising disposable incomes for the global middle class.
According to model, the aircraft wire and cable market has been divided into aircraft wire, aircraft wire harness and aircraft cable.According to the application market, the aircraft wire and cable market has been divided into flight control system, lighting, data transmission, power transmission, avionics and so on.The lighting segment is expected to be a major application market due to growing demand for new aircraft.As a result, increased global commercial air travel and increased defense budgets in major economies are expected to drive demand for aircraft wires and cables.