India Cable and Wire For Aerospace and Defense Market Outlook – 2031
The India cable and wire for aerospace and defense market was valued at $1.87 billion in 2021, and is projected to reach $2.87 billion by 2031, registering a CAGR of 4.62% from 2022 to 2031.
Wire and cable in aerospace and defense sector in designed to transmit signals and electricity. Further, Cable and wires in aerospace and defense sector are made of cutting-edge technology to ensure the products production of products at the highest level. Military & defense wire and cables are segmented into coaxial cable, fiber optic cable, power cable, shipboard cable, multi-conductor cable, shielded cable, and others. Moreover, the demand for marine cables in shipbuilding is increasing as the demand for low weight and high efficiency grows. Ship cables must be installed in tight spaces, requiring maximum cable flexibility.
The India cable and wire for aerospace and defense market share is expected to witness notable growth during the forecast period, owing to digitalization and electrification of aerospace and defense systems. Furthermore, rising military expenditure has driven the India cable and wire for Aerospace and Defense market growth. Moreover, the development of innovative aircraft solutions is expected to propel the India cable and wire for aerospace and defense market growth during the forecast period.
However, high development and maintenance costs of infrastructure to support satellite wiring and assemblies is one of the prime factors that restrain the India cable and wire for aerospace and defense market outlook. On the contrary, a rise in government investment in defense and space agencies is expected to provide lucrative opportunities for the growth of India cable and wire for aerospace and defense market during the forecast period.
The outbreak of COVID-19 has significantly impacted the growth of the India cable and wire for aerospace and defense solutions in 2021, owing to a significant impact on prime players operating in the supply chain. However, a rise in investment in military and aerospace expenditure in India is acting as one of the major factors that propels the market growth during the COVID-19 pandemic. On the contrary, the market was principally hit by several obstacles amid the COVID-19 pandemic, such as a lack of skilled workforce availability and delays or cancellations of projects due to partial or complete lockdowns. Furthermore, the surge in demand for smart infrastructure solutions in aerospace and defense sector in India is strengthening the cable and wire for aerospace and defense market in Indian post-COVID-19.
Segment Overview
The India cable and wire for aerospace and defense market is segmented into type, voltage, and application.
Based on type, the market is divided into cable and wire. The cable segment dominated the market, in terms of revenue, in 2020, and is expected to follow the same trend during the forecast period. The cable segment is further divided into coaxial cable, power cable, shipboard cable, and others.
By Type
Cable segment influence the market in 2021, and expected to follow the same in future
By voltage, the market is segmented into low voltage, medium voltage, high voltage, and extra high voltage. The high voltage segment dominated the market in 2020, and the medium voltage segment is expected to dominate the market during the forecast period.
By Voltage
High Voltage segment will dominate the market throughout the forecast period
Based on application, the market is bifurcated into communication systems, navigation systems, military ground equipment, power distribution, and others. The power distribution segment acquired the largest share in 2021 and is expected to grow at a high CAGR from 2022 to 2031
By Application
Power Distribution segment will generate the highest revenue during 2022 - 2031
Top Impacting Factors
Significant factors that impact the growth of the India cable and wire for aerospace and defense industry include a rise in military expenditure, coupled with digitalization and electrification of aerospace and defence systems. Moreover, the development of innovative aircraft solutions is expected to drive the market opportunity. However, high development and maintenance costs of infrastructure to support satellite wiring and assemblies are acting as a prime barrier for early adoption, which hampers the growth of the market. On the contrary, a rise in government investment in defense and space agencies is expected to offer a potential growth opportunity for the India cable and wire for aerospace and defense market during the forecast period.
Competitive Analysis
Competitive analysis and profiles of the major India cable and wire for aerospace and defense market players that have been provided in the report include, such as Amphenol Corporation, Apar Industries Ltd., Carlisle Interconnect Technologies, Collins Aerospace, Miracle Electronics Devices Pvt Ltd., and Nexans SA. Radiant Cables, Sumitomo Electric Industries, Thermo Cables Limited, TE Connectivity Ltd. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
Key Benefits For Stakeholders
- This study comprises an analytical depiction of the India cable and wire for aerospace and defense market size, along with the current trends and future estimations to depict the imminent investment pockets.
- The overall India cable and wire for aerospace and defense market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current India cable and wire for aerospace and defense market forecast is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
- The report includes the market share of key vendors and India cable and wire for aerospace and defense market trends.
India Cable and Wire For Aerospace and Defense Market Report Highlights
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Analyst Review
India cable and wire for aerospace and defense technology is witnessing a significant growth, owing to growing investments in research and development (R&D) by aircraft original equipment manufacturers. Further, the rise in demand for air transportation solution has propelled the growth of the wire a cable solution in aerospace and defense sector. In addition, rise in initiative by government such as Made in India and Make in India are significantly boosting the growth of the India cable and wire for aerospace and defense market.
The India cable and wire for aerospace and defense market is highly competitive, owing to the strong presence of existing vendors. India cable and wire for aerospace and defense vendors, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals, as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.
Rising demand in investment by prime government agencies in aerospace and defense solution such as communication, lighting, flight control system, power transfer, data transfer, and avionics are driving the need to enhance cable and wire solutions. Among the analyzed segments, power distribution exhibits the highest adoption rate of cable and wire in aerospace and defense sectors.
India, various key players and government agencies have invested in cable and wire for aerospace and defense market to make them compatible with various industrial platforms. The key players profiled in the report include Amphenol Corporation, Apar Industries Ltd., Carlisle Interconnect Technologies, Collins Aerospace, Miracle Electronics Devices Pvt Ltd., Nexans SA. Radiant Cables, Sumitomo Electric Industries, Thermo Cables Limited, TE Connectivity Ltd.
The India Cable and Wire For Aerospace and Defense Market is anticipated to grow at a CAGR of 4.62% from 2022 to 2031.
The India Cable and Wire For Aerospace and Defense Market is projected to reach $2.87 billion by 2031.
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Rising in military expenditure coupled with digitalization and electrification of aerospace and defence systems etc. boost the market growth.
The key players profiled in the report include Amphenol Corporation, Apar Industries Ltd., Carlisle Interconnect Technologies, and many more.
On the basis of top growing big corporations, we select top 10 players.
The India Cable and Wire For Aerospace and Defense Market is segmented on the basis of type, voltage, and application.
The key growth strategies of market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Military Ground Equipment segment will grow at a highest CAGR of 6.05% during the forecast period.
High Voltage segment will dominate the market during 2022 - 2031.
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