The military cables market is estimated to be USD 22.1 billion in 2021 and is projected to reach USD 26.2 billion by 2026, at a CAGR of 3.4% during the forecast period. The growth of this market is mainly driven by the modernization program and increasing procurement of military fleets due to growing transnational disputes to offer several untapped opportunities.
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Key players have adopted various organic and inorganic strategies to strengthen their position in the military cables market. The major players include Prysmian Group (Italy), Nexans S.A. (France), Sumitomo Electric Industries Ltd (Japan), Collins Aerospace (US), and Carlisle Interconnect Technologies (US), these players have adopted various strategies, such as acquisitions, contracts, new product launches, and partnerships & agreements, to expand their presence in the market further.
Prysmian Group is a leading company in the energy and telecom cable systems industry. It is enabling digital & energy transition worldwide. The markets served are utilities and power grids, telecom, construction and infrastructure, and industries including oil & gas, military & defense, marine, etc. It provides vital support to the world’s major military organizations with power, control, instrumentation, and communication cables that meet the widest of military standards.
Sumitomo Electric Industries, Ltd was incorporated in 1897 and has headquarters in Osaka, Japan. Sumitomo Electric Industries, Ltd. is a leading manufacturer of electrical cables and optical fiber cables. Sumitomo Electric Industries, Ltd operates through five business segments, namely: Automotive, Information & Communications, Electronics, Environment & Energy, and Industrial materials. Sumitomo has been manufacturing electric supply cables for National Police Agency and Defense Agency.
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