Mechanical Control Cables Market to Reach USD 13.89 Billion by 2028
The Global Mechanical Control Cables Market is expected to reach USD 13.89 Billion by 2028 from USD 9.26 Billion in 2021, growing at a CAGR of 5.2% from 2022 to 2028. The increase in the growth is due to a surge in the commercial aircraft fleet. The Mechanical control cable provides a pull or pushes the action to allow mechanical functions. These cables are attached to many other fittings like throttle arms, connection pins, forks, handles, and spring mounts which is expected to propel the demand for Mechanical Control Cables.
- The commercial segment held a substantial share in 2020. The surge in the demand for Mechanical Control Cable is due to the increase in the deliveries of new commercial aircraft along with ongoing modernizations and maintenance activities of the old aircraft is expected to drive the demand for the market in the long run. Additionally, rise in the air travel is propelling the manufactures to increase the commercial fleet size to incorporate more passengers, which will drive market growth. As per Boeing Commercial, the commercial aircraft fleets are anticipated to reach 50,660 by 2038 from 25,830 in 2018. All this is expected to act as a driving factor for the market in the anticipated timeframe.
- Wire material held a substantial share in 2021. The growth is attributed to the rising use of Mechanical Control Cables by the military and aerospace. These wires can be multiple non-insulated conductors or a single conductor made from aluminum or copper. Rising use of these wires in aircraft as it provides abrasion resistance, fluid resistance, and moisture resistance, it also provides insulation, which is expected to support market growth. Additionally, numerous kinds of wires material mechanical cables are used in engine control, in-flight control, landing gear, and auxiliary control applications. This is expected to propel growth for the market in the long run.
- North America is the largest regional segment. This is attributed to the surging population in the region. The rise in the disposable income of the people living in the region has propelled air travel in the past years and is expected to positively influence the demand in the estimated timeframe. Additionally, the modernization and maintenance activities for existing aircraft along with the deliveries of new commercial aircraft in the Asia Pacific are expected to support growth.
Major players operating in the global Mechanical Control Cables Market include, Triumph Group (US), Crane Aerospace & Electronics (US), Glassmaster Controls Company, Inc. (US), Loos & Co. Inc. (US), Elliott Manufacturing (US), Orscheln Products (US), Bergen Cable Technology, Inc. (US), Wescon Controls (US), Cable Manufacturing & Assembly, Inc. (US), Tyler Madison, Inc. (US), Sila Group (Italy), Escadean Ltd. (UK), Cablecraft Motion Controls (US), Lexco Cable Mfg. (US), Ringspann GmbH (Germany), Drallim Industries Limited (UK), VPS Control Systems, Inc. (US), Grand Rapids Controls, LLC. (US), and Küster Holding GmbH (Germany)..
The Mechanical Control Cables Market for Military and Aerospace is segmented as follows:
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Pages and in-depth TOC on "Mechanical Control Cables Market for Military and Aerospace Market by Application (Aerial, Land, Marine), by Type (Push-Pull, Pull-Pull, Platform), by Material (Steel, Composite), by Regions (North America, Europe, Asia Pacific, Middle East & Africa, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)"
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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