Dublin, Dec. 12, 2022 (GLOBE NEWSWIRE) -- The "Military Cables Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global military cable market is expected to grow from $21.68 billion in 2021 to $23.55 billion in 2022 at a compound annual growth rate (CAGR) of 8.6%. The global military cable market is expected to grow from $23.55 billion in 2022 to $256.99 billion in 2026 at a compound annual growth rate (CAGR) of 81.8%. Western Europe was the largest region in the military cables market in 2021. 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 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. Pcb Smt
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.
Major players in the military cables market are
Galaxy Wire & Cable Inc
Iewc and LS Cable & System Ltd
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2026
Key Topics Covered: 1. Executive Summary 2. Military Cables Market Characteristics 3. Military Cables Market Trends And Strategies 4. Impact Of COVID-19 On Military Cables 5. Military Cables Market Size And Growth 5.1. Global Military Cables Historic Market, 2016-2021, $ Billion 5.1.1. Drivers Of The Market 5.1.2. Restraints On The Market 5.2. Global Military Cables Forecast Market, 2021-2026F, 2031F, $ Billion 5.2.1. Drivers Of The Market 5.2.2. Restraints On the Market 6. Military Cables Market Segmentation 6.1. Global Military Cables Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.2. Global Military Cables Market, Segmentation By Conductor Material, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.3. Global Military Cables Market, Segmentation By Platform, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.4. Global Military Cables Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7. Military Cables Market Regional And Country Analysis 7.1. Global Military Cables Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion 7.2. Global Military Cables Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
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