Military Cables Global Market Report 2023
Major players in the military cables market are Carlisle Interconnect Technologies, Collins Aerospace, Prysmian Group, Nexans S.A, Sumitomo Electric Industries Ltd., A E Petsche, Axon Cable, Galaxy Wire & Cable Inc.
New York, March 07, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Military Cables Global Market Report 2023" - https://www.reportlinker.com/p06325390/?utm_source=GNW
, Glenair Inc., Iewc and LS Cable & System Ltd., and Champlain Cable Corporation.
The global military cables market grew from $26.49 billion in 2022 to $31.57 billion in 2023 at a compound annual growth rate (CAGR) of 19.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The military cables market is expected to grow to $76.45 billion in 2027 at a CAGR of 24.7%.
The military cables market consists of sales of coaxial cable, mil-spec power cable, mil-spec cable, shipboard cable, extreme environmental cables, and wire harnesses.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
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.
It is are used in various applications, including aircraft, weapon systems, and military ground vehicles.
Western Europe was the largest region in the military cables market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the military cables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of military cables are coaxial, ribbon, and twisted pair.The coaxial cables are used for various military applications such as communications, aircraft and in-flight entertainment.
The coaxial cable refers to an electrical cable that has a copper conductor, an insulator shielding, and a braided metal mesh to prevent signal interference and cross-talk.Coaxial cable is also referred to as coax.
The core copper conductor is utilized for signal transmission, while the insulator provides insulation to the copper conductor.The various types of materials used in the military cables include stainless steel alloys, aluminum alloys, copper alloys, and other materials such as nickel and silver.
The military cables are mainly produced for platforms such as ground, airborne, and marine that are used in applications such as communication systems, navigation systems, military ground equipment, weapon systems, and others such as displays and accessories.
The increase in military spending will propel the growth of the military cable 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 than in 2020, accounting for 34% of Iran’s overall military spending. India’s military budget was the third-largest in the world, at $76.6 billion. This was an increase of 0.9% from 2020. 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 military cable during the forecast period.
Product Innovation has emerged as the key trend gaining popularity in the military cables market.Major companies operating in the military cables sector are focused on developing new technological solutions to meet customer demand and strengthen their 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.
In August 2021, TPC Wire & Cable (TPC) a US-based company that manufactures wire, cable, and connector solutions for ruggedized environments and high cost of failure applications has acquired The First Electronics Corporation (FEC) for an undisclosed amount.The acquisition strengthens the synergies and additional capabilities the TPC team will add to our industry-leading product line.
As a result of this acquisition, FEC resources to assist us to grow and expand while also understanding the military and aerospace markets to maintain that growth and produce the greatest quality product in support of our nation’s defense. The First Electronics Corporation (FEC) is a US-based cable manufacturer specialising in custom electrical assemblies for harsh environments.
The countries covered in the military cables market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The military cables market research report is one of a series of new reports that provides military cables market statistics, including military cables industry global market size, regional shares, competitors with a military cables market share, detailed military cables market segments, market trends and opportunities, and any further data you may need to thrive in the military cables industry. These military cables market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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