Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Aircraft Cables Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering
The global aircraft cables market is poised to exhibit strong growth, with forecasts indicating a rise from a valuation of $4.39 billion in 2023 to an impressive $4.74 billion in 2024, marking a compound annual growth rate (CAGR) of 8.0%. A recent publication offers an in-depth market research report outlining the progress and future outlook of the industry, with projections extending to 2028 where the market size is expected to surge to $6.43 billion at a steadfast CAGR of 7.9%.
Momentum in the aircraft cables market, crucial for establishing electrical systems and signal transmissions across various aircraft, is sustained by technological advancements, fleet expansions, and the growing need for maintenance and repairs. Industry drivers include the electrification of aircraft systems, advancements in data transmission technologies, and increasing adherence to sustainability in aviation. The escalating demand for new aircraft, with statistics from the IATA and Airbus underscoring a strong growth trajectory in passenger traffic and aircraft production requirements, further fuels market expansion.
In the report, it is noted that North America maintained its status as the largest region in terms of market share in 2023. The comprehensive document covers an array of vital geographic locations and segments, providing insights into the distribution of market shares and the dynamics within.
Key Trends Shaping the Aircraft Cables Market
- Lightweight and Advanced Material Use
- Integration of Fiber Optic and Wireless Communication Systems
- Focus on EMI/RFI Protection and Safety
The industry is currently witnessing strategic investments from major companies aiming to deliver high-performance cables, which are indispensable for the burgeoning data applications integral to modern aircraft operations. Such innovations include the development of specialized cable assemblies and high-speed Ethernet cables, designed to facilitate advanced aerospace applications.
The utilization of next-generation materials and technology remains a pivotal trend, highlighted by the introduction of lightweight, high-speed digital data cables tailored to the stringent requirements of the aerospace sector. These offerings represent transformative steps by key industry players, seeking to uphold market competitiveness through innovative product development.
Despite remarkable growth tendencies, the report draws attention to barriers such as aircraft backlogs, which could potentially temper market progress. Nonetheless, the persistent rise in aircraft orders and deliveries serves as a testament to the robust and dynamic nature of the aviation industry, stimulating the demand for reliable and advanced aircraft cables.
The aircraft cables market report in question serves as a comprehensive guide, encompassing everything from global market size, competitive landscape, detailed segmentation, and future market scenarios to address the informational needs of those vested in the aircraft cables sphere.
Companies mentioned in the report are leaders in producing interconnect components and have embraced development initiatives catering to the challenges faced in high-performance and harsh environment applications.
A selection of companies mentioned in this report includes
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/jcv15f
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