Aluminum Wire for Aerospace Market Size

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.