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Military Cables Market Size, Share, Trends, Growth Analysis And Forecast 2024-034
Military Cables Market Size
As per the report, the military cables market size has grown steadily in recent years. It will grow from $24.47 billion in 2023 to $25.21 billion in 2024 at a compound annual growth rate (CAGR) of 3.0%. The military cables market size is expected to see steady growth in the next few years. It will grow to $29.72 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%.
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Surge In Military Spending Drives Growth In Military Cable Market
The increase in military spending will propel the growth of the military cables 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. 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, accounting for 34% of Iran's overall military spending. India's military budget was the third-largest in the world, at $76.6 billion. 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 the growth of the military cable during the forecast period.
Carlisle Interconnect Technologies Unveils Cutting-Edge Utiphase Microwave Cable Assembly Line
Product Innovation has emerged as the key trend gaining popularity in the military cables market. Major companies operating in the military cables market sector are focused on developing new technological solutions to meet customer demand and strengthen military cables 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.
The 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
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Major companies operating in the military cables market include 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.
Contents of the report:
1. Executive Summary
2. Military Cables Market Report Structure
3. Military Cables Market Trends And Strategies
4. Military Cables Market - Macro Economic Scenario
5. Military Cables Market Size And Growth
…..
27. Military Cables Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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