Aerospace And Military Fiber Optic Market, By Product Type (Multi-mode, Single Mode, Plastic Optical Fiber), By Material Type (Glass, Plastic), By Application (Military & Aerospace, Oil & Gas, BFSI, Railway, Telecom, Medical, Others), By Region - Global Analysis Forecast Till 2030

The aerospace and military fiber optic market is expected to grow at an 8.12% CAGR from 2022 to 2030, reaching $7,458.36 million in 2030 from $4,713.81 million in 2021.

A fiber optic cable is a collection of optical threads with diameters (single threads) greater than the diameter of a human hair strand; each of these threads can transmit data encoded as light waves. Because of their ability to withstand harsh environments, fiber optics are replacing metal optics in aerospace and military applications. The use of fiber optics in data transmission allows for long-distance transmission, immunity to electromagnetic interference, and high bandwidth with high rates of speed and no data loss.

Fiber-optic cables are lighter and smaller than metal cables, making them ideal for high-risk activities. Because of efficient flight management systems, communication systems, in-flight entertainment systems, electronic warfare avionics, cabin interiors, and radar systems, the demand for fiber optics in aerospace and military communications is increasing. The growing demand for increased bandwidth, reliability, and airframes in new and upgraded aircraft drives the growth of the aerospace and military fiber optic market.

Market Dynamics

Drivers:

One of the factors driving the fiber optic cables market for military and aerospace is an increase in orders for new aircraft worldwide. The global commercial aircraft fleet is expected to grow from XX in 2018 to XX by 2030. As a result, the number of aircraft deliveries is expected to reach XX by 2030. Approximately 74.3% of new aircraft orders are expected to replace existing aircraft, with the remainder expected to contribute to airline fleet growth to enable geographic expansion into emerging markets. New aircraft are also likely to help various airlines develop innovative business models.

The increased demand for high-speed data transfer is expected to drive the use of fiber frameworks in the aerospace and military fiber optic market. Optical add-drop multiplexers and demultiplexers were introduced into the fiber optic network to enable the transfer of large amounts of data. These multiplexers are simple components that allow for specific addition or reduction in optical cabels to meet the needs of different wavelength administration capacities to ensure high-speed data transfer. The OADM network is increasingly being used by aircraft and ships, as well as for electronic warfare and other applications.

Restraints:

The use of fiber optic cables in aircraft and ships has increased due to the introduction of intense electrification concepts such in-flight entertainment systems, and glass cockpits. Because of the numerous interconnected systems and components, optical cables are structurally complex and vulnerable to damage caused by vibrations or changes to the overall wiring diagram. Bending and fitting fiber optic cables on airframes can cause damage to optic cable connectors and aircraft systems during the maintenance and installation of fiber optic cables in aircraft. Thus, the complexities associated with fiber optic cable maintenance and installation challenges the growth of the aerospace and military fiber optic market.

Key players:

• Corning Incorporated

• OFS Fitel, LLC

• Sterlite Technologies Limited

• AFL

• Sumitomo Electric Industries, Ltd.

• Prysmian Group

• Finolex Cables Limited

• Birla Furukawa Fiber Optics Limited

• Optical Cable Corporation (OCC)

• Yangtze Optical Fiber and Cable Co., Ltd. (YOFC)

Market Segmentation:

Aerospace And Military Fiber Optic Market, By Product Type

• Multimode

• Single Mode

• Plastic Optical Fiber

Aerospace And Military Fiber Optic Market, By Material Type

• Glass

• Plastic

Aerospace And Military Fiber Optic Market, By Application

• Military & Aerospace

• Oil & Gas

• BFSI

• Railway

• Telecom

• Medical

• Others

Aerospace And Military Fiber Optic Market, By Region

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

Regional Analysis:

Due to the increased adoption of fiber optics in the IT and telecom sectors, Asia Pacific will lead the global fiber optics market in revenue in 2021. Furthermore, the region will have a lucrative growth opportunity by keeping its dominant market position in the coming years. The region has a high growth potential for new technologies, which drives fiber optics demand. The region's increasing infrastructure development and industrialization have created enormous growth opportunities for deploying fiber optic cables across various applications.

The World Bank recently estimated that Asia Pacific will need to invest USD 1.9 trillion per year in infrastructure development from 2021 to 2030 to maintain economic growth. As a result, private capital has poured in significantly in recent years. 

Scope of the Report:

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