Global Military Cables market segments 2024, Forecast To 2033
6 Feb, 2024
The military cables market has shown steady growth, increasing from $24.47 billion in 2023 to $25.21 billion in 2024, with 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, and military aircraft wiring. The military cables market is expected to see steady growth in the next few years, reaching $29.72 billion in 2028, with a 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, and energy efficiency. Major trends in the forecast period include 5G connectivity, electromagnetic interference (EMI) shielding, electrification of vehicles, robotic systems, and quantum communication.
Global Military Cables Market Key Driver
The military cables market is set to grow with the increase in military spending. Military cable assemblies and wire harnesses, designed to MIL-SPEC specifications, are essential components. In April 2022, the Stockholm International Peace Research Institute reported a rise in Iran's military budget to $24.6 billion in 2021, contributing to the growth of the military cables market.
Get A Free Sample Of The Global Military Cables Market ReportGlobal Military Cables Market Segments
The global 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
By Geography: The regions covered in the Military Cables market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Western Europewas the largest region in the military cables market in 2023. Asia-Pacificis expected to be the fastest-growing region in the forecast period. The regions covered in the military cables market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Military Cables Industry Players
Carlisle Interconnect Technologies Ltd., Raytheon Technologies Corp., Prysmian Group SPA, Nexans S.A, Sumitomo Electric Industries Ltd., Amphenol Corporation, TE Connectivity Ltd., General Cable Technologies Corporation, Radiall India Pvt. Ltd., Axon Cable Inc., W. L. Gore & Associates Inc., Leviton Manufacturing Co. Inc., A.E. PETSCHE Company Inc., Apar Industries Ltd., Collins Aerospace Ltd., Ensign-Bickford Aerospace & Defense Company, Galaxy Wire & Cable Inc., Gem Cable Conductors Ltd., Jiuzhou Wire & Cable Co. Ltd., Miracle Electronics Devices Pvt. Ltd., PIC Wire & Cable Co., Radiant Cables Pvt. Ltd., Belden Inc., Cicoil Corporation, Cooner Wire Company, Delphi Technologies Plc, Epec Engineered Technologies Corp., Habia Cable AB, Harbour Industries LLC, Hitachi Metals Ltd.
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Military Cables Market Overview
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.
Military Cables Global Market Report 2023 provides data on the global military cables market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The military cables market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.