Military Cables Market worth $26.2 Billion by 2026 with CAGR of 3.4%
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
(EMAILWIRE.COM, March 17, 2022 ) The global military cables market 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.
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The marine platform segment is projected to witness the highest CAGR during the forecast period.
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.
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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.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=185276927
The marine platform segment is projected to witness the highest CAGR during the forecast period.
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.
Ask for Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=185276927
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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Mr. Aashish Mehra
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MarketsandMarkets™
Mr. Aashish Mehra
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results