The clubs agreed an undisclosed fee and the 17-year-old has penned a two-year deal with the option of a further year.
Cassidy only joined Airbus this summer from Llandudno Junction but leaves without playing a competitive game for the club after his seven goals in pre-season caught the attention of Wolves, where he will be part of the development squad, as well as West Brom and Everton.
Chief executive Jez Moxey told the club's website: "We are always interested in signing good young players and Jake certainly fits into that category.
"There were plenty of other Premier League clubs interested. But Jake immediately felt comfortable here at Wolves and we are delighted he has agreed to join us."
Cassidy sealed his move with an impressive performance for the development squad last week, netting in a 4-2 win over Telford.
He admitted things have moved faster than he expected, saying: "I wanted to progress and was pleased to go to Airbus and was looking forward to a season in the Welsh Premier League.
"Wolves are a great club who have made me feel really welcome from the moment I arrived.
"It's all about trying to score some goals for the reserves to aim to be in the manager's thoughts at some point in the future."