Aluminum Wire for Aerospace Market Size & Share, by Alloy Type (High-Strength Aluminum Alloys, Aluminum Lithium Alloys, Others); Aerospace Application (Commercial Aircraft [Airplane], Others); Aerospace Grade Requirement (Critical Performance Aerospace Aluminum Wire, Others); Cable Type [Power Cable (Aluminum Conductors, Aluminum Clad Conductors), Data Wire (Aluminum Twisted Pair Cables, Fiber Optics Cables)]-Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5900
  • Published Date: Mar 19, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Aluminum Wire for Aerospace Market size is expected to reach USD 11 billion by the end of 2036, growing at a CAGR of 6.34% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of aluminum wire for aerospace was USD 5.02 billion. Furthermore, the market is also estimated to generate a volume of 5,142.66 Thousand Tons by 2036, up from a volume of 2,491.26 Thousand Tons, gathered in the year 2023. The major element to dominates the market revenue is the growing demand for air freight. In November 2023, the air cargo traffic in the globe totaled about 21 billion tonne-kilometers. As a result, the demand for aluminum wire is also projected to rise in aerospace because of its lightweight feature and ductility, making it easy to produce.

Additionally, aluminum is considered to have a strong chemical oxide bond that offers protective layers against an environment when exposed to air. Hence, reducing the prevalence of corrosion. Furthermore, aluminum offers strong electrical conductivity that makes it an excellent raw material for the aerospace industry. As a result, the market is projected to have notable growth in its revenue. 


Aluminum Wire for Aerospace Market
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Aluminum Wire for Aerospace Market: Growth Drivers and Challenges

Growth Drivers

  • Surging Demand to Recycle Aluminum - There has been a growing adoption of sustainable initiatives to eradicate the environmental footprint. Furthermore, even though aluminum is considered to be one of the promising materials it is predicted to hurt the environment. For instance, over 14 MWh of energy is utilized to produce about one ton of aluminum. This constitutes close to two households consuming electricity in about 5 years. Hence, the adoption of a sustainable approach is growing which is further giving rise to the demand for recycled aluminum. This is because it is predicted that only about 6% of energy is utilized to recycle aluminum. Further, by recycling aluminum most of the natural resources are preserved since demand for mining is reduced. Therefore, the demand for the recycling of aluminum is growing which is further boosting the aluminum wire for aerospace market expansion.
  • Growing Adoption of Cutting-Edge Technology - To compete in the ever-changing technology environment, the manufacturers of aluminum wire are significantly adopting cutting-edge technology. For instance, there has been a surging adoption of automation and robotics in manufacturing aluminum wire. Owing to this the danger of accidents and human errors is predicted to be eliminated further enhancing productivity, safety, and precision along with cost. Furthermore, the adoption of AI is also growing in the production of aluminum wire to improve the process of production by predicting maintenance needs and encouraging improved decision-making. As a result, the aluminum wire for aerospace market is estimated to observe an upward moment.
  • Rising Use of Aluminum Wire in Space Exploration - Aluminum has played a significant role in space exploration. Additionally, even NASA has been preferring aluminum for over 5 decades. This aluminum offers one of the most excellent features required in space exploration and that is protection from sun radiation. Aluminum products in spacecraft help to regulate the temperature by enabling heat to transfer over equipment. Therefore, with the growing space exploration activities the aluminum wire for aerospace market is projected to rise.

Challenges

  • Availability of Substitute Material - Aerospace companies are initiating to adopt the more comfortable and affordable aircraft for passengers. Hence, since lighter metal alloys and composite satisfy this need their consideration for this metal is set to grow. Moreover, the design of aircraft is hindered and made more complicated by considering aluminum for aircraft construction. For instance, to reduce the oxidation of aluminum, the humidity is purposefully lowered during flying. Consequently, passengers are also projected to suffer through discomfort owing to physical dehydration. As a result, the demand for substitute material is predicted to rise further impeding the market growth for Aluminum Wire for Aerospace.
  • High Price of Aluminum Wire
  • Growing Adverse Effects on the Environment

Aluminum Wire for Aerospace Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

6.34%

Base Year Market Size (2023)

~ USD 5.02 Billion

Forecast Year Market Size (2036)

~ USD 11 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Aluminum Wire for Aerospace Segmentation

Aerospace Application (Commercial Aircraft [Airplane], Military Aircraft, Satellites, Rockets, Drones & Unmanned Aerial Vehicles)

The military aircraft segment is projected to capture the highest revenue of USD 3.45 billion by the end of 2036, up from a revenue of USD 1.37 billion generated in the year 2023. The major element to dominate the segment growth is the growing demand for military aircraft owing to rising terrorist disputes. For instance, in 2021, the number of terrorist attacks in the world rose to about 5,225. Furthermore, the spending on military applications by the government is also estimated to boost the development of aircraft. As a result, the adoption of aluminum products is estimated to surge in this sector. Aluminum wire also had a significant impact on the aerospace industry, especially military aircraft. This is because, this material presents several benefits to military applications including aircraft with low weight, and stiffness. Additionally, this material has made military aircraft more efficient since it demands less amount of fuel to travel. As a result, the market growth for aluminum wire is set to rise owing to this segment.  

Aerospace Grade Requirement (Critical Performance Aerospace Aluminum Wire, Standard Aerospace Aluminum Wire, Others)

The critical performance aerospace aluminum wire segment is set to grow at the highest CAGR of 7.11% over the coming years. This is since, in order to transfer signals, data, and power between various critical systems and electrical components in the aerospace industry the necessity of wire harness is growing as it provides safety and dependability. Furthermore, it promises the faultless and uninterrupted process of electrical components, which includes flight controls, avionics, communication systems, and navigation. Additionally, they are selected on account of the requirement of various qualities including temperature resistance, flexibility, and electrical conductivity. These wires composed of aluminum come in an array of gauges to lodge varying current-carrying capacities. Therefore, with the growth in this segment, the market is also expected to flourish.

Our in-depth analysis of the global market includes the following segments:

          Alloy Type

  • High-Strength Aluminum Alloys
  • Aluminum Lithium Alloys
  • Others

          Aerospace Application

  • Commercial Aircraft [Airplane]
  • Military Aircraft
  • Satellites
  • Rockets
  • Drones & Unmanned Aerial Vehicles

          Aerospace Grade Requirement

  • Critical Performance Aerospace Aluminum Wire
  • Standard Aerospace Aluminum Wire, Others

          Cable Type

  • Power Cable
    • Aluminum Conductors
    • Aluminum Clad Conductors
  • Data Wire
    • Aluminum Twisted Pair Cables
    • Fiber Optics Cables

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Aluminum Wire for Aerospace Industry- Regional Synopsis

APAC Market Forecast

The Asia Pacific aluminum wire for aerospace market is set to grow at the highest CAGR of 7.77% during the forecast period. The growth of the market is set to be dominated by a growing number of passengers traveling by plane. For instance, in 2021 within the Asia Pacific region, China had the largest number of populations travelling by plane which totaled about 439 million passengers. India had over 83 million passengers travelled by plane followed by China. Additionally, the adoption of drones in the military sector is also increasing in this region which is further boosting the demand for aluminum wire. This is because aluminum is studied to be the most common type of material used in drones.

North American Market Analysis

The North America aluminum wire for aerospace market is also set to be a notable growth in the revenue during the forecast period. The major element to influence the market expansion in this region is the growing production of aerospace. Furthermore, this region is also observing a significant rise in investment for industry 4.0 which is further estimated to encourage smart manufacturing of aluminum wire. Additionally, the trend of space tourism is also projected to rise in this region. Therefore, the adoption of aluminum wire is set to experience growth in this region over the coming years.

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Aluminum Wire for Aerospace Market Size
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Companies Dominating the Aluminum Wire for Aerospace Landscape

top-features-companies
    • Rusal
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Kaiser Aluminum Corporation
    • Constellium Group
    • Emirates Global Aluminium PJSC 
    • Aluminium Corporation
    • Vedanta Limited
    • Hindalco Industries Ltd.
    • MWS Wire Industries, Inc.
    • Southwire Company, LLC
    • SWAN Corporation
    • Alcoa Corporation

In-the-news

In The News

  • June 19, 2023: Constellium SE and TARMAC announced partnership in order to explore the development of process and technologies for recovering aluminum from destructed aerospace and reuse by maintaining the properties and performance of the materials within the aerospace value chain. 
  • December 7, 2020: In order to serve growing market in waster and southern for extruded aluminium products, the Hindalco Industries Limited, the Aditya Birla Group metals flagship declared proposal to set up a 34,000-tonne extrusion plant at Silvassa.

Author Credits:  Richa Gupta, Harshita Srivastava


  • Report ID: 5900
  • Published Date: Mar 19, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are surging demand to recycle aluminum, growing adoption of cutting-edge technology, and rising use of aluminum wire in space exploration.

The market size of Aluminum Wire for Aerospace is anticipated to attain a CAGR of 6.34% over the forecast period, i.e., 2024-2036.

The major players in the market are Rusal, Kaiser Aluminum Corporation, Constellium Group, Emirates Global Aluminium PJSC, and others.

The military aircraft segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Aluminum Wire for Aerospace Market Report Scope
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