U.S. Cables And Wires for Aerospace and Defense Market to Witness Exponential Growth by 2032
U.S. Cables and Wires for Aerospace and Defense Market expected to reach $6.6 billion by 2032
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Cables and wires are essential components of military and aviation solutions in the aerospace & defense industry. Coaxial cable, power cable, shipboard cable, extreme environment wire/cable, and other components are required for commercial aircraft, military aircraft, civil helicopters, and military helicopters. The cables and wires for A&D for the US market currently need to raise their output rate to meet high demand as fierce competition drives the need for technological innovation.
The growth of the U.S. cables and wires for the aerospace and defense market forecast is majorly driven by the digitalization and electrification of aerospace & defense systems, paired with the development of innovative aircraft solutions. Further, a rise in military expenditure is anticipated to drive the growth of the market. However, complex government frameworks and stringent policies related to wire harnesses' safety, paired with high development and maintenance costs of infrastructure to support satellite wiring and assemblies restrain the U.S. market. On the contrary, a rise in government investment in defense & space agencies is anticipated to provide lucrative opportunities for the U.S. cables and wires for aerospace and defense market trends during the forecast period.
The military aerospace segment was the largest contributor to the market in 2023, whereas the commercial aerospace segment had the highest CAGR in 2023. Surge in demand for cable and wire solutions in the aviation & military sector has led to the growth of the power distribution and military ground equipment segments, thereby enhancing market growth. The outbreak of COVID-19 has significantly impacted the growth of the cables and wires for A&D for the US market, owing to the significant impact on prime market players operating within this region.
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Conversely, a rise in demand for navigation and communication solutions has led to a significant rise in cables and wires, which is anticipated to drive market expansion post-pandemic. However, the lack of availability of a professional workforce due to partial and complete lockdowns implemented by governments restrains the growth of the U.S. cables and wires for aerospace and defense industry report.
Key findings of the study
- In 2023, the cable segment dominated the U.S. cables and wires for aerospace and defense market by type, holding the largest market share and also projected to grow at the highest CAGR during the forecast period.
- By voltage, the high voltage U.S. cables and wires for aerospace and defense segment accounted for the majority of the market in the U.S. cables and wires for aerospace and defense industry in 2023 and the extra high voltage U.S. cables and wires for aerospace and defense segment expected to grow at the highest CAGR over the forecast period.
- In terms of application, the military aerospace segment was the largest in the U.S. cables and wires for aerospace and defense industry in 2023, and the commercial aerospace segment is expected to register the fastest CAGR during the forecast period.
The U.S. cables and wires for aerospace and defense market key players profiled in the report include Allied Wire & Cable, Amphenol Corporation, Carlisle Interconnect Technologies, Galaxy Wire & Cable, Inc., Harbour Industries, LLC, Infinite Electronics International, Inc., Methode Electronics, RF Industries, Ltd., Raytheon Technologies Corporation (RTX), and TE Connectivity Ltd. Market players have adopted various strategies, such as product launch, expansion, and acquisition, to expand their foothold in the U.S. cables and wires for the aerospace & defense market.
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