Military and Aerospace Fiber Optic Cable Market Worth
New York, May 26, 2022 (GLOBE NEWSWIRE) — The Insight Partners has released the latest research study on “Aerospace and Military Fiber Optic Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Component (Cables and Connectors), Application (Radar Systems, Flight Management Systems, Inflight Entertainment Systems, Communication Systems, Electronic Warfare, Cabin Interiors and avionics) and end-user (commercial and military)”, the growth of the global fiber optic market for aerospace and military is driven by the increasing demand for higher bandwidth, reliability and airframes. high in new and upgraded aircraft, the growing demand for new and reliable fiber optic cables and connectors for communication systems. The military and aerospace fiber optic cable market was dominated by North America, with more than 40% share in 2021, and will continue to dominate the market till 2028.
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|Market size Value in||US$4.62 billion in 2021|
|Market size value per||$7.20 billion by 2028|
|Rate of growth||CAGR of 7.0% from 2022 to 2028.|
|Number of pages||152|
|Number of tables||80|
|Number of graphs and figures||75|
|Historical data available||Yes|
|Segments Covered||Component, application and end user|
|Regional scope||North America; Europe; Asia Pacific; Latin America; AEM|
|Country scope||United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report cover||Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends|
Aerospace and Military Fiber Optic Market: Competitive Landscape and Key Developments
Raytheon Technologies Corporation, Amphenol Corporation, Carlisle Interconnect Technologies, Prysmian Group and ITT INC. are some key players operating in the aerospace and military fiber optic market. In addition, several other significant market players have been researched and analyzed during this study to get a holistic view of the global Aerospace and Military Fiber Optic market size and its ecosystem.
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In 2021, Amphenol Corporation acquired Positronic to provide customers with a broad product line and technical design support for their interconnect solutions.
In 2020, Radiall acquired Timbercon, allowing Timbercon to offer an even broader product line to its customers. Timbercon provides fiber optic interconnect technology for the aerospace, defense, medical, data storage, telecommunications, industrial, broadcast and networking markets.
Fiber optic cables are lighter and smaller than metal cables and safer for vulnerable activities. In addition, they exhibit superior fatigue resistance. The demand for fiber optics in aerospace and military communications is increasing due to the efficiency of flight management systems, communication systems, in-flight entertainment systems, electronic warfare avionics, cabin interiors and radar systems. Increased demand for higher bandwidth, reliability, and cells in new and upgraded aircraft is driving the growth of aerospace and military fiber optics.
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The aerospace industry and defense forces use advanced communication systems to facilitate efficient and continuous contact between personnel at different sites and the base station or ground station. Thus, these two industries pose a continuously high demand for technologically enhanced and high-speed communication systems. The primary benefit conferred by high-speed data transfer solutions is access to real-time information with minimal risk of data loss. Fiber optic cables can transfer data at high speeds over longer distances, which is one of the main characteristics that attracts manufacturers of aerospace and defense communication systems. Such developments are continuously driving the growth of the aerospace and military fiber optic market.
Aerospace and Military Fiber Optic Market: Impact of COVID
In North America, the United States is the country that spends the most on its military expenditure, followed by Canada and Mexico. However, the COVID-19 pandemic has forced these retreating countries to invest in the development and acquisition of new military technologies in this region. There has been a complete shutdown in the production, manufacturing and supply chain of military and aerospace equipment due to longer lockdowns implemented by various governments in their respective countries. Thus, the COVID-19 pandemic has negatively impacted the aerospace and military fiber optic market in this region.
During the early months of the COVID-19 pandemic, the North American aerospace and military fiber optic market supply chain was hampered. A drop in customer orders was also observed. Additionally, there have been disruptions in the supply chains for various orders placed by the clients and contractors, which has led to loss of revenue among the major market players. The military sector has been one of the hardest hit sectors due to the COVID-19 pandemic.
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Aerospace and Military Fiber Optic Market: Application Overview
Based on application, the global aerospace and military fiber optic market is segmented into radar systems, flight management systems, inflight entertainment systems, communication systems, electronic warfare, cabin interiors, avionics and others. In 2021, the communication systems segment dominated the global aerospace and military fiber optic market, according to the market researcher, and is expected to maintain its dominance over the forecast period. However, the radar systems segment is expected to witness the fastest growing CAGR over the forecast period in the global aerospace and military fiber optic market share.
Communication systems require a high degree of tactical equipment to connect to the global information grid of shared data and information. Fiber optic cable networks are used to send intelligence, surveillance and reconnaissance data through various communication systems. Satellites, interconnected ground links and communication systems are important components of communication networks because they allow data to be transmitted securely over secure data links. Thus, all these factors are collectively contributing to the growth of communication systems in the aerospace and military fiber optic market.
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