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According to the latest report released by Reseach and Markets, the compound annual growth rate of the machinery control cable market for military and aerospace will reach 5.
1%
from 2019 to 2025.
The report predicts that by 2025, the global military and aerospace machinery control cable market will increase from 8.
8 billion US dollars in 2019 to 11.
9 billion US dollars (about 83.
13 billion yuan).
The report believes that the increase in air passenger traffic has stimulated the growth in demand for commercial aircraft, coupled with increasing spending by defense authorities, will promote the stable development
of the mechanical control cable industry in the military and aerospace industries.
Based on materials, the sheath materials segment is expected to grow
at a high CAGR during the forecast period.
Without a sheath, the cable is vulnerable to abrasion, heat and oxidation damage, as well as weather-related damage
.
Sheath materials are divided into thermoplastics and thermosetting materials
.
Based on type, the push-pull segment is expected to grow
at the highest CAGR during the forecast period.
This type of control cable is mainly used in the flight control and landing gear systems
of aircraft.
Growing demand for commercial air travel, especially from emerging economies in Asia Pacific, is driving demand
for new commercial aircraft.
According to the forecast outlook of Boeing and Airbus, the world will need 39,620 and 33,070 new aircraft
by 2035.
Based on region, the North America region is expected to grow
at the highest CAGR during the forecast period.
According to the World Bank, the North American region contributes 28% (approximately)
of global GDP.
North America is also considered an important region for maritime activities, and the growth of coastal shipping in the region is also driving the demand
for warships.
Based on manufacturers, Triumph Group (US), Crane Aerospace & Electronics (US), and Elliott Manufacturing (US) are expected to be the leading producers
of machinery control cables globally during the forecast period.
According to the latest report released by Reseach and Markets, the compound annual growth rate of the machinery control cable market for military and aerospace will reach 5.
1%
from 2019 to 2025.
The report predicts that by 2025, the global military and aerospace machinery control cable market will increase from 8.
8 billion US dollars in 2019 to 11.
9 billion US dollars (about 83.
13 billion yuan).
The report believes that the increase in air passenger traffic has stimulated the growth in demand for commercial aircraft, coupled with increasing spending by defense authorities, will promote the stable development
of the mechanical control cable industry in the military and aerospace industries.
Based on materials, the sheath materials segment is expected to grow
at a high CAGR during the forecast period.
Without a sheath, the cable is vulnerable to abrasion, heat and oxidation damage, as well as weather-related damage
.
Sheath materials are divided into thermoplastics and thermosetting materials
.
Based on type, the push-pull segment is expected to grow
at the highest CAGR during the forecast period.
This type of control cable is mainly used in the flight control and landing gear systems
of aircraft.
Growing demand for commercial air travel, especially from emerging economies in Asia Pacific, is driving demand
for new commercial aircraft.
According to the forecast outlook of Boeing and Airbus, the world will need 39,620 and 33,070 new aircraft
by 2035.
Based on region, the North America region is expected to grow
at the highest CAGR during the forecast period.
According to the World Bank, the North American region contributes 28% (approximately)
of global GDP.
North America is also considered an important region for maritime activities, and the growth of coastal shipping in the region is also driving the demand
for warships.
Based on manufacturers, Triumph Group (US), Crane Aerospace & Electronics (US), and Elliott Manufacturing (US) are expected to be the leading producers
of machinery control cables globally during the forecast period.
