The Military Cables Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Military Cables Global Market Report 2024, The military cables market size has grown steadily in recent years. It will grow from $24.47 billion in 2023 to $25.21 billion in 2024 at a compound annual growth rate (CAGR) of 3.0%. The growth in the historic period can be attributed to communication systems, defense modernization, increased data transfer, harsh environmental conditions, military aircraft wiring.
The military cables market size is expected to see steady growth in the next few years. It will grow to $29.72 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to naval and marine applications, cybersecurity, drones and unmanned systems, aerospace and satellite connectivity, energy efficiency. Major trends in the forecast period include 5g connectivity, electromagnetic interference (emi) shielding, electrification of vehicles, robotic systems, quantum communication.
The increase in military spending will propel the growth of the military cables market. Military cable assemblies and wire harnesses are those that have been designed, built, and manufactured to MIL-SPEC specifications. Military cable assemblies and wire harnesses must be built with military-specified and/or approved wire, cable, connectors, terminations, and other components. Military spending can be viewed as a function of driving forces within the context of current economic and political restrictions. Military expenditure is determined by four basic factors: security-related, technological, economic and industrial, and, more broadly, political. For instance, in April 2022, according to the report published by Stockholm international peace research institute, Iran’s military budget will rise to $24.6 billion in 2021 for the first time in four years. The Islamic Revolutionary Guard Corps received 14 percent more funding in 2021, accounting for 34% of Iran’s overall military spending. India’s military budget was the third-largest in the world, at $76.6 billion. Russia increased its military spending by 2.9% in 2021, to $65.9 billion, as it bolstered its forces along the Ukrainian border. This was Russia’s third straight year of growth, with military spending reaching 4.1% of GDP in 2021. Therefore, the rising military spending is expected to boost demand for the growth of the military cable during the forecast period.
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The military cables market covered in this report is segmented –
1) By Product: Coaxial, Ribbon, Twisted Pair
2) By Conductor Material: Stainless Steel Alloys, Aluminum Alloys, Copper Alloys, Others Conductor Materials
3) By Platform: Ground, Airborne, Marine
4) By Application: Communication Systems, Navigation Systems, Military Ground Equipment, Weapon Systems, Other Applications
Product Innovation has emerged as the key trend gaining popularity in the military cables market. Major companies operating in the military cables market sector are focused on developing new technological solutions to meet customer demand and strengthen military cables market position. For instance, in January 2021, Carlisle Interconnect Technologies, a US-based company that manufactures high-performance wire and cable, including optical fiber has unveiled its new UTiPHASE microwave cable assembly line, a revolutionary technology that provides exceptional electrical phase stability versus temperature without sacrificing microwave performance. UTiPHASE is appropriate for high-performance defense, space, and testing applications. The UTiPHASE series expands on CarlisleIT’s acclaimed UTiFLEXR flexible coaxial microwave cable technology by combining renowned dependability and industry-leading connection captivation with a thermally phase-stable dielectric that eliminates the PTFE knee. This scenario is efficiently mitigated by UTiPHASE’sTM thermally phase-stable dielectric, which flattens the phase vs. temperature response curve, lowering system phase variance and boosting accuracy.
The military cables market report table of contents includes:
1. Executive Summary
2. Military Cables Market Characteristics
3. Military Cables Market Trends And Strategies
4. Military Cables Market – Macro Economic Scenario
5. Global Military Cables Market Size and Growth
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26. South America Military Cables Market
27. Brazil Military Cables Market
28. Middle East Military Cables Market
29. Africa Military Cables Market
30. Military Cables Market Competitive Landscape And Company Profiles
Top Major Players:
- Carlisle Interconnect Technologies Ltd
- Raytheon Technologies Corp
- Prysmian Group SPA
- Nexans S.A
- Sumitomo Electric Industries Ltd
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