Mechanical Control Cables Market for Military and Aerospace worth $ 11.9 billion
Posted by Sandeep Roy on February 5th, 2020
The Global Mechanical Control Cables Market for Military and Aerospace report provides a detailed analysis of the trends from 2019 to 2025. It discusses industry and technology trends prevailing in the market, along with the drivers, restraints, challenges, and opportunities.
The global mechanical control cables market for military and aerospace is projected to grow from USD 8.8 billion in 2019 to USD 11.9 billion by 2025, at a CAGR of 5.1% during the forecast period. The market in North America is expected to witness substantial growth during the forecast period, especially from the US. High military spending in the US and the increasing procurement of highly advanced armored vehicles are expected to drive market growth. For instance, according to the Congressional Research Services Report 2019, funding of USD 350 million was provided for amphibious assault ship LHA-9.
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Based on type, the push-pull segment of the mechanical control cables market for military and aerospace is projected to grow at the highest CAGR during the forecast period. Increasing demand for new commercial aircraft is fueling the adoption of push-pull cables. These cables and rods are used mainly in the flight control and landing gear systems of an aircraft. The increasing demand for new commercial aircraft will drive the demand for push-pull mechanical control cables market.
Based on application, the mechanical control cables market for military and aerospace is segmented into aerial, land, and marine. The aerial segment is expected to grow at a higher CAGR during the forecast period. There is an increase in investments in R&D activities with an aim to develop advanced navigational technologies and flight control systems to be used in aircraft. Mechanical control cables are not only used in these systems but also in redesigning aircraft seating and cabin equipment, and landing gears.
By region, the mechanical control cables market for military and aerospace has been segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in Asia Pacific is anticipated to witness the second-fastest growth during the forecast period. China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific are considered under this regional market analysis. The market in India is expected to grow at the highest during the forecast period, on account of the rapid growth of the aviation industry, increasing air passenger traffic, and economic growth in China and India.
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Key Market Players
The key market players in the mechanical control cables market for military and aerospace are Crane Aerospace & Electronics (US), Triumph Group (US), Elliott Manufacturing (US), Orscheln Products (US), Glassmaster Controls Company, Inc. (US), Loos & Co. Inc. (US), Bergen Cable Technology, Inc. (US), Cable Manufacturing & Assembly, Inc. (US), Wescon Controls (US), Tyler Madison, Inc. (US), Escadean Ltd. (UK), Sila Group (Italy), Cablecraft Motion Controls (US), Ringspann GmbH (Germany), Lexco Cable Mfg. (US), Drallim Industries Limited (UK), Grand Rapids Controls, LLC. (US), VPS Control Systems, Inc. (US), AeroControlex (US), and Küster Holding GmbH (Germany), among others.
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About the AuthorSandeep Roy
Joined: August 7th, 2019
Articles Posted: 289
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