Markets and Markets, the world's second largest market research organization, recently released a report that the global military and aerospace cable market demand will reach 1.82 billion US dollars in 2018. It is expected that this data will increase to 2 billion US dollars by 2023. The growth rate was 1.93%.
Depending on the type of product, the single-mode fiber optic cable segment is expected to grow at a compound annual growth rate that is higher than the multi-mode portion during the forecast period.
The expected higher growth rate in the single-mode field is due to changes in demographic trends and increased demand for connected equipment, which is expected to contribute to the growth of the single-mode field.
Between regions, the Asia Pacific market is expected to experience significant growth during the forecast period, with major factors including growing demand for new aircraft and defense systems.
During the forecast period, it is expected that an increase in investment in defense product development, as well as the growing focus of international and domestic players in the region, will stimulate market growth.