New York, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Globally, the total value of airplane billings increased from USD 19715056073 in the year 2010 to USD 23514723152 in the year 2019. Moreover, during the same period, the shipment of piston airplanes, turboprops, and business jets increased from 889 units, 368 units, and 763 units respectively to 1324 units, 525 units, and 809 units respectively. Additionally, the total value of helicopter billings in the year 2019 was USD 3827653872, while the shipments of the same product touched 877 units in the same year.
Kenneth Research has recently added a report on “Global RIF Cable Market for Aerospace & Defense Industry” which is studied for the forecast period, i.e., 2021-2030. The market research report consists of the growth drivers, key market opportunities, recent trends, as well as the challenges that are associated with the growth of the market in the coming years. Further, the report also includes a detailed analysis of the competitive landscape and the players operating in the market, along with a synopsis of their product portfolio.
Backed by the increasing preference for air travel amongst individuals worldwide, there is a growing need for increasing the existing aircraft fleet of the flight operators. According to the statistics by the World Bank, the number of passengers carried via air transport increased from 2.628 Billion in the year 2010 to 4.558 Billion in the year 2019. The surge in demand for new aircrafts is thereby anticipated to drive the need for communication systems amongst the aircraft manufacturers, and in turn, contribute to the growth of the global RF cable market. The market generated a revenue of USD 1271.3 Million in the year 2020 and is further expected to reach USD 2015.6 Million by the end of 2030, by growing with a CAGR of 4.6% during the forecast period.
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The growth of the RF cable market for the aerospace & defense industry can also be attributed to the increasing concern for airplane accidents worldwide, and for the fact that communication systems play an important role in any aircraft. According to the statistics by the International Civil Aviation Organization (ICAO), the cumulative number of accidents globally for scheduled commercial flights on airplanes above 5.7t only increased from 1 case in January 9th, 2021 to 13 cases in December 30th, 2021. On the other hand, the rising military expenditure, which according to the World Bank, grew from USD 1.648 Trillion in the year 2010 to USD 1.929 Trillion in the year 2020, is also expected to contribute to the growth of the market in the coming years.
The global RF cable market for aerospace & defense industry is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Amongst the market in these regions, the market in the Asia Pacific generated the largest revenue of USD 568.7 Million in the year 2020 and is further expected to touch USD 1023.6 Million by the end of 2030, by growing with the highest CAGR of 5.9% during the forecast period. The market in the region is segmented by country into Australia, Japan, Singapore, South Korea, China, India, and the Rest of Asia Pacific. Amongst the market in these countries, the market in China generated the largest revenue of USD 192.1 Million in the year 2020 and is further expected to touch USD 369.1 Million by the end of 2030, by growing with the highest CAGR of 6.6% during the forecast period.
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On the other hand, the market in North America generated the second-largest revenue of USD 335.8 Million in the year 2020 and is further expected to reach USD 462.1 Million by the end of 2030. The market in the region is further segmented by country into the United States and Canada. Amongst the market in these countries, the market in the United States is anticipated to generate the largest revenue by the end of 2030 and also grow with the highest CAGR of 3.3% during the forecast period.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
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The global RF cable market for aerospace & defense industry is segmented by cable type into coaxial cable and optical fiber cable. Amongst these segments, the coaxial cable segment is anticipated to garner the largest revenue by the end of 2030, whereas the optical fiber cable segment is projected to grow with the highest CAGR of 5.7% during the forecast period. In the Asia Pacific, the optical fiber cable segment is anticipated to grow with the highest CAGR of 7.5% during the forecast period, while in North America, the coaxial cable segment is anticipated to garner the largest revenue of USD 223.0 Million by the end of 2022.
The global RF cable market for aerospace & defense industry is further segmented by application into data transmission, video transmission, and RF transmission. Amongst these segments, the RF transmission segment generated the largest revenue of USD 502.6 Million in the year 2020 and is anticipated to touch USD 848.0 Million by 2030. In the Asia Pacific, the segment generated the largest revenue of USD 227.2 Million in the year 2020 and is further expected to touch USD 434.8 Million by the end of 2030. The segment in the market in the region is also anticipated to grow with the highest CAGR of 6.0% during the forecast period. Moreover, in Europe, the segment is expected to touch the largest revenue of USD 155.9 Million by the end of 2030, and further grow with a CAGR of 3.8% during the forecast period. Additionally, in the year 2020, the segment generated a revenue of USD 103.8 Million.
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Some of the prominent industry leaders in the global RF cable market for aerospace & defense industry that are included in our report are Cobham Advanced Electronic Solutions (CAES), Anritsu Corporation, Rosenberger Hochfrequenztechnik GmbH & Co. KG, W.L. Gore & Associates, Inc., Amphenol Corporation, TE Connectivity, Pasternack Enterprises, Inc., Radiall SA, Prysmian S.p.A, Belden Inc., Bel Fuse Inc., CryoCoax, Nexans, HUBER+SUHNER Group, Molex, LLC, and others.
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