Global Fiber Optic Cables Market for Military and Aerospace Market.
Global Fiber Optic Cables Market for Military and Aerospace Market is projected to register a CAGR of 1.91% from 2020 to 2026.
The rapidly growing use of fiber optic cables in sensing applications and the increasing demand for lightweight systems have significantly contributed to the expansion of the fiber optic cables market for military and aerospace market. High competition owing to the presence of several players in the market has led fiber optic cables providers to focus on innovation.
Furthermore, the increasing adoption of unmanned aerial vehicles in both commercial and military applications is also expected to drive the growth of the market. Additionally, the rising adoption of in-flight entertainment systems by various aircraft OEMs to offer enhanced travelling experience to passengers is also expected to drive the growth of the market. As in-flight entertainment systems require advanced cable systems for smooth data transmission and to offer enhanced cabin security and reduce the overall weight of the aircraft.
However, complex maintenance and installation of fiber optic cables and issues related to physical damage and transmission loss might hamper the growth of the market.
The growing adoption of fiber optics cables over copper cables as they offer benefits such as lightweight, rugged design, and strength is expected to drive the growth of the market.
Growth Opportunities in the Market
Single-mode segment to register the higher growth rate: The single-mode segment is expected to register the higher CAGR during the forecast period, 2020 to 2026. The increasing use of these single-mode type fiber optic cables over long distances to reduce the probability of signal strength weakening is expected to drive the growth of the segment.
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Communication systems segment is expected to be the fastest-growing: The communication systems segment is expected to register the highest CAGR during the forecast period, 2020 to 2026. The rising demand for enhanced communication systems by pilots and army personnel to experience enhanced connectivity in rough terrains is expected to drive the growth of the segment.
Commercial segment dominated the market in 2019: The commercial segment dominated the market in 2019. This growth can be attributed to factors such as increasing air travel and growing international trade and tourism across the globe. Strong growth in this sector has resulted in increasing the number of aircraft orders to address the increasing air passenger traffic. Manufacturers are currently focusing on manufacturing fiber optic cables that are more reliable and safe.
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