Military Cables Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
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. It is are used in various applications, including aircraft, weapon systems, and military ground vehicles.

Sizing and Forecast
The military cables market size has grown steadily in recent years. It will grow from <b>$24.47 billion in 2023 to $25.21 billion in 2024 at a compound annual growth rate (CAGR) of 3.0%. </b> The growth in the historic period can be attributed to communication systems, defense modernization, increased data transfer, harsh environmental conditions, military aircraft wiring.

The military cables market size is expected to see steady growth in the next few years. It will grow to <b>$29.72 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. </b> The growth in the forecast period can be attributed to naval and marine applications, cybersecurity, drones and unmanned systems, aerospace and satellite connectivity, energy efficiency. Major trends in the forecast period include 5g connectivity, electromagnetic interference (emi) shielding, electrification of vehicles, robotic systems, quantum communication.

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Segmentation & Regional Insights
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

<b>Western Europe</b> was the largest region in the military cables market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the military cables market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
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.

Key Industry Players
Major companies operating in the military cables market include <b> 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. </b>

The military cables market report table of contents includes:

1. Executive Summary

2. Military Cables Market Characteristics

3. Military Cables Market Trends And Strategies

4. Military Cables Market – Macro Economic Scenario

5. Global Military Cables Market Size and Growth

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31. Global Military Cables Market Competitive Benchmarking

32. Global Military Cables Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Military Cables Market

34. Military Cables Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players:

Carlisle Interconnect Technologies Ltd.

Prysmian Group SPA

Nexans S.A

Sumitomo Electric Industries Ltd

Amphenol Corporation

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