Mar 28, 2022   SOURCE: BusinessWire

Military Cables Market by Product, Platform, Application, Conductor Material, End-user and Region - Global Forecast to 2026 - ResearchAndMarkets.com

The "Military Cables Market by Product (Coaxial, Ribbon, Twisted Pair), Platform (Ground, Marine, Airborne), Application, Conductor Material (Stainless Steel Alloys, Aluminium Alloys, Copper Alloys), End User, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The market for military cables is estimated to be USD 22.1 billion in 2021 and is projected to reach USD 26.2 billion by 2026, at a CAGR of 3.4% during the forecast period. The growth of this market is mainly driven by the modernization program and increasing procurement of military fleets due to growing transnational disputes to offer several untapped opportunities.

The military cables market includes major players Prysmian Group (Italy), Nexans S.A. (France), Sumitomo Electric Industries Ltd (Japan), Collins Aerospace (US), and Carlisle Interconnect Technologies (US). These players have spread their business across various countries including North America, Europe, Asia Pacific, Middle East, and Rest of the World. COVID-19 has impacted their businesses as well.

The marine platform segment is estimated to lead the market during the forecast period, with a share of 92.6% in 2021. The segment is projected to grow with the highest CAGR of 3.5% in the forecast period. Marine platforms where military cables are installed include destroyers, frigates, corvettes, amphibious ships, patrol vessels, submarines, and aircraft carriers.

The military ground equipment segment is projected to witness the highest CAGR during the forecast period

Based on application, the military ground equipment segment is projected to be the highest CAGR rate for the military cables market during the forecast period. Increasing number of military ground equipment to gain tactical advantage will drive the segment in coming years.

The copper alloys segment is projected to witness the highest CAGR during the forecast period

Based on the conductor material, the copper alloys segment is projected to grow at the highest CAGR rate for the military cables market during the forecast period. Copper wires have excellent electrical properties which make them perfect for use in the aerospace and defense industry.

The aftermarket segment is projected to witness the highest CAGR during the forecast period

Based on the end user, the aftermarket segment is projected to grow at the highest CAGR rate for the military cables market during the forecast period. Replacement of existing cables and upgradation will drive the segment.

The Europe market is projected to witness the highest CAGR from 2021 to 2026

The majority of the Europe military cables market is accounted for by military cables on ground platform. The large share of military cables market in Europe is due to increasing procurement of military fleet and weapon systems.

Market Dynamics

Drivers

  • Rising Military Expenditure
  • Digitalization and Electrification of Military Systems
  • Rise in Adoption of Military Unmanned and Ground Vehicles

Restraints

  • Saturated Market in Developed Countries
  • Reduced Demand Due to Wireless Transmission

Opportunities

  • Emerging Markets Across the Globe

Challenges

  • Recovery from Pandemic
  • Complexities with Installing & Upgrading Large Network of Cables

Companies Mentioned

  • A.E. Petsche
  • Axon Cable
  • Carlisle Interconnect Technologies
  • Champlain Cable Corporation
  • Collins Aerospace
  • Galaxy Wire & Cable, Inc.
  • Glenair, Inc
  • Iewc
  • Judd Wire, Inc
  • LS Cable & System Ltd
  • Marmon Aerospace and Defense, LLC
  • Mercury Wire Products, Inc
  • Minnesota Wire & Cable
  • Molex, LLC
  • National Wire & Cable Corporation
  • New England Wire Technologies
  • Nexans S.A.
  • Pic Wire & Cable
  • Prysmian Group
  • Rscc Wire and Cable LLC
  • Sanghvi Aerospace (P.) Ltd.
  • Specialty Cable Corporation
  • Spectrum Cable Tech India
  • Sumitomo Electric Industries, Ltd
  • W.L. Gore & Associates Inc

For more information about this report visit https://www.researchandmarkets.com/r/me2x3k