According to the new market research report, “ Fiber Optic Cables Market for Military and Aerospace by Application“ (Avionics, Cabin Interiors, Flight Management Systems, IFE Systems, Communication Systems, Radar Systems, Electronic Warfare), End Use, Type, and Region – Global Forecast to 2023 „, published by MarketsandMarkets ™, the market for military and aerospace is projected to grow to $ 1.82 billion in 2018 to $ 2.00 billion by 2023, at a CAGR of 1.93% from 2018 to 2023.
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Rise in demand for bandwidth and reliability and air conditioning and operator installation in the new and upgraded aircraft are the major factors driving the fiber optic cable market for military and aerospace.
Based on application, the radar system segment is projected to grow to the highest CAGR during the forecast period
Based on application, the radar system segment of the fiber optic cable market for military and aerospace is projected to grow to the highest CAGR during the forecast period. New warfare military technologies include the use of network-centric warfare systems and electronic warfare systems. The radar is an important component of these warfare systems. It improves the efficiency of such systems by tracking and identifying objects as well as improving surveillance capabilities and situational awareness.
Based on end use, the space segment is estimated to witness the highest growth during the forecast period
Based on end use, the space segment of the fiber optic cable market for military and aerospace is projected to grow to the highest CAGR during the forecast period. Growth in this segment can be attributed to the increasing requirement for Situational Awareness (SA) in military operations and rising use of geospatial intelligence. Intelligence is considered to be a crucial military competency as it acts as a force multiplier by providing advanced situational awareness to armed forces.
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Based on type, the single-mode segment is projected to grow at a higher CAGR during the forecast period
CAGR rather than the multi-mode segment during the forecast period. Based on type, the single-mode segment of the fiber optic cable market for military and aerospace projects. The anticipated higher growth rate of the single-mode segment is due to changing demographic trends and increasing demand for connected devices, which are expected to contribute to the growth of the single-mode segment.
The Asia Pacific market is expected to grow significantly during the forecast period
Among regions, the Asia Pacific fiber optic cables market for military and aerospace is projected to be a significant growth during the forecast period. Factors responsible for the growth of the fiber optic cable market for military and aerospace in the Asia Pacific. During the forecast period. Increasing investments in the development of defense products, and growing focus of both, international and domestic players in the region.
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Amphenol (US), Rockwell Collins (US), Carlisle Companies (US), Corning (US), Finisar (US), WL Gore & Associates (US), are major companies in the fiber optic cable market for military and aerospace products. OFS Fitel (US), AFL Global (US), Optical Cable Corp. (US), TE Connectivity (Switzerland), Radiall (France), and Prysmian Group (Italy), among others.
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