The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Military Cables Global Market Report 2023, the military cables market is expected to show significant growth in the forecast period.

Key insights from the military cables market forecast include:

1. Market Size

The global military cables market is expected to grow from $26.49 billion in 2022 to $31.57 billion in 2023 at a compound annual growth rate (CAGR) of 19.2. The market size in the global military cables market is expected to grow to $76.45 billion in 2027 at a CAGR of 24.7%.

2. Major Driver

Increased military expenditure will drive growth in the military cables market. These cable assemblies and wire harnesses adhere to MIL-SPEC standards. In April 2022, the Stockholm International Peace Research Institute reported Iran’s military budget rising to $24.6 billion in 2021, with the Islamic Revolutionary Guard Corps receiving 14% more funding. India’s military budget ranked third globally at $76.6 billion, increasing by 0.9% from 2020. Russia’s military spending also grew by 2.9% in 2021 to $65.9 billion, reaching 4.1% of GDP. Consequently, rising military budgets are expected to fuel demand for military cables in the forecast period.

View More On The Military Cables Market Report 2023 – https://www.thebusinessresearchcompany.com/report/military-cables-global-market-report

3. Key Trend

Product innovation is a prominent trend in the military cables market. Leading industry players concentrate on developing novel technological solutions to meet customer needs and enhance their market position. For instance, in January 2021, Carlisle Interconnect Technologies, a US-based company specializing in high-performance wire and cable, introduced its groundbreaking UTiPHASE microwave cable assembly line. This technology offers outstanding electrical phase stability across temperatures without compromising microwave performance, catering to high-performance defense, space, and testing applications. UTiPHASE builds upon CarlisleIT’s renowned UTiFLEXR flexible coaxial microwave cable technology, combining reliability and industry-leading connection retention with a thermally stable dielectric, reducing phase variance for improved accuracy.

4. Major Players

Major players in the military cables market are Carlisle Interconnect Technologies, Collins Aerospace, Prysmian Group, Nexans S.A, Sumitomo Electric Industries Ltd., A E Petsche, Axon Cable, Galaxy Wire & Cable Inc., Glenair Inc., Iewc and LS Cable & System Ltd., and Champlain Cable Corporation.

5. Top Market Segments

The global military cables market 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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The Military Cables Global Market Report 2023  provides an in-depth analysis on the military cables market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the military cables market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Military Vehicle Electrification Global Market Report 2023

Missile Defense System Global Market Report 2023

Automotive Cables Global Market Report 2023

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