Aluminum Wire for Aerospace Market Share

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.