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Mechanical Control Cables Market for Military and Aerospace Market

Mechanical Control Cables Market for Military and Aerospace Market

Mechanical Control Cables Market for Military and Aerospace Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

200

Base Year:

2021

Date

Jan - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1125

Segments Covered
  • By Application Aerial, Land, Marine
  • By Type Push-Pull, Pull-Pull, Platform
  • By Material Steel, Composite
  • By Regions North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 9.26 Billion
Revenue 2028Revenue 2028: USD 13.89 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 5.2%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Mechanical Control Cables Market for Military and Aerospace Market Share

Mechanical Control Cables Market for Military and Aerospace: By Application, Type, End-use, and Region

Market Synopsis:

Global Mechanical Control Cables Market for Military and Aerospace market is valued at USD 9.26 Billion in 2021 and is projected to reach a value of USD 13.89 Billion by 2028 at a CAGR of 5.2% during the forecast period, 2022–2028.

Mechanical Control Cables Market for Military and Aerospace Market Size, 2021 To 2028 (USD Billion)

The factors driving the growth of this market are increasing defense budgets across the globe, increase in demand for unmanned aerial vehicles (UAVs), need for smart weapons, growing aircraft deliveries worldwide, modernization programs in developed nations along with technological advancements. However, lack of skilled technicians, stringent government regulations regarding certification requirements are restraining the growth of this market.

Technological Advancements and Increasing Modernization Expenditure by Militaries to Fuel Growth of Mechanical Control Cables Market

Every military aircraft these days is outfitted with a host of complex control systems. These critical mechanical control cables are needed in each system to ensure the function of an aircraft in combat. The demand for high-quality, durable and light weight non-metallic materials is on the rise. This has created an increased need for advanced integrated cabling solutions in defense applications where safety, performance and operational capabilities are critical. The global industry for mechanical control cables have been growing since 2010 due to technological advancements and increasing modernization expenditure by militaries around the world.

Segmentation:

Below tree is interactive. You can click the nodes to get more information.

Steel Segment to Dominate the Market

The market is segmented into segments based on material (steel and composites). Within these two segments, the steel cable market is further divided into three sub-segments: metallic cables (tinned copper), stainless steel cable and special alloy cable; among which the tinned copper cable has accounted for the largest share. This can be attributed to its lightweight, better conductivity and lower maintenance costs as compared to other raw materials used for mechanical control cables such as stainless steel, special alloys or metal matrix composites. However, this segment of tinned copper cables is expected to face competition from stainless steel cables due their superior corrosion resistance characteristics.

North America is the Largest Consumer of Mechanical Control Cables

The U.S. is the world's largest economy and its military has significant economic impact because of the high-technology, low-cost manufacturing capabilities it possesses, which allows for high purchasing power. The U.S. government is the country's single largest end user; defense spending was $711 Billion in 2013 (including funding for conflicts). North America represented 39% of global arms imports and 60% of NATO countries imported weapons from North America. The primary driving force for this is that the U.S. has to guarantee its hegemony over other countries, because it sustains great economic burdens in order to achieve global leadership. Globalization allowed for easy transport of defense articles between countries so North America being the closest region was responsible for importing most defense articles from around the world.

Key Players:

Some of the leading players in the global market are Triumph Group (US), Crane Aerospace & Electronics (US), Glassmaster Controls Company, Inc. (US), Loos & Co. Inc. (US), Elliott Manufacturing (US), Orscheln Products (US), Bergen Cable Technology, Inc. (US), Wescon Controls (US), Cable Manufacturing & Assembly, Inc. (US), Tyler Madison, Inc. (US), Sila Group (Italy), Escadean Ltd. (UK), Cablecraft Motion Controls (US), Lexco Cable Mfg. (US), Ringspann GmbH (Germany), Drallim Industries Limited (UK), VPS Control Systems, Inc. (US), Grand Rapids Controls, LLC. (US), and Küster Holding GmbH (Germany).

The Mechanical Control Cables Market for Military and Aerospace is Segmented as Follows:

Parameter Details
Segments Covered
  • Application (Aerial, Land, Marine)
  • Type (Push-Pull, Pull-Pull, Platform)
  • Material (Steel, Composite)
  • Regions (North America, Europe, Asia Pacific, Middle East & Africa, Latin America)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Triumph Group (US)
  • Crane Aerospace & Electronics (US)
  • Glassmaster Controls Company Inc. (US)
  • Loos & Co. Inc. (US)
  • Elliott Manufacturing (US)
  • Orscheln Products (US)
  • Bergen Cable Technology Inc. (US)
  • Wescon Controls (US)
  • Cable Manufacturing & Assembly Inc. (US)
  • Tyler Madison Inc. (US)
  • Sila Group (Italy)
  • Escadean Ltd. (UK)
  • Cablecraft Motion Controls (US)
  • Lexco Cable Mfg. (US)
  • Ringspann GmbH (Germany)
  • Drallim Industries Limited (UK)
  • VPS Control Systems Inc. (US)
  • Grand Rapids Controls
  • LLC. (US)
  • and Küster Holding GmbH (Germany).
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

FAQ
Frequently Asked Question
  • The global Mechanical Control Cables Market for Military and Aerospace valued at USD 9.26 Billion in 2020 and is expected to reach USD 13.89 Billion in 2028 growing at a CAGR of 5.2%.

  • The prominent players in the market are Triumph Group (US), Crane Aerospace & Electronics (US), Glassmaster Controls Company, Inc. (US), Loos & Co. Inc. (US), Elliott Manufacturing (US), Orscheln Products (US), Bergen Cable Technology, Inc. (US), Wescon Controls (US), Cable Manufacturing & Assembly, Inc. (US), Tyler Madison, Inc. (US), Sila Group (Italy), Escadean Ltd. (UK), Cablecraft Motion Controls (US), Lexco Cable Mfg. (US), Ringspann GmbH (Germany), Drallim Industries Limited (UK), VPS Control Systems, Inc. (US), Grand Rapids Controls, LLC. (US), and Küster Holding GmbH (Germany)..

  • The market is project to grow at a CAGR of 5.2% between 2021 and 2028.

  • The driving factors of the Mechanical Control Cables Market for Military and Aerospace include

    • Technological Advancements and Increasing Modernization Expenditure by Militaries to Fuel Growth of Mechanical Control Cables Market

  • North America was the leading regional segment of the Mechanical Control Cables Market for Military and Aerospace in 2020.