Report : Asia Pacific Aerospace and Military Fiber Optics Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Components (Cables and Connectors), Application (Radar Systems, Flight Management Systems, In-Flight Entertainment Systems, Communication Systems, Electronic Warfare, Cabin Interiors, and Avionics), and End User (Commercial Aviation, Military, and General Aviation)
At 8.8% CAGR, the Asia Pacific Aerospace and Military Fiber Optics Market is speculated to be worth US$ 1,187.38 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific aircraft interface device market was valued at US$ 688.43 million in 2021 and is expected to reach US$ 1,187.38 million by 2028, registering an annual growth rate of 8.8% from 2021 to 2028. Rising in procurement of advanced communication system to strengthen communication security , increasing use in new and upgraded aircraft are the critical factors attributed to the market expansion.
The aerospace industry and defense forces use advanced communication systems to facilitate effective and continuous contact between personnel at different sites and the base station or ground station. Thus, these two industries pose a continuously high demand for technologically enhanced and high-speed communication systems. The major benefit conferred by high-speed data transfer solutions is the access to real-time information with minimum scope for data loss. Fiber optic cables are capable of transferring high-speed data over longer distances, which is one of the key features attracting aerospace and defense communication system manufacturers. Commercial airlines have been opting for long-haul flights owing to increasing passenger traffic on these routes. Long-haul flights demand high-speed communication and seamless connectivity; Ethernet has been the most preferred choice for network infrastructure protocol among commercial airlines over the years, owing to its superior performance, reliability, and universally accepted open standard. However, the Ethernet network connectivity faced limitations in transmitting high bandwidth data over longer distances. Owing to this, several aircraft cabling system manufacturers have ventured into the fiber-optic cable industry, which has been benefiting commercial airlines over the recent years. Defense forces require long-distance communications to transfer real-time information to the troops. They rely on a complex and large network of physical components and software for their communication capabilities. Fiber optic products have been a prominent choice among defense communication system manufacturers due to their ability to transfer data at high speed over longer distances. Such developments are continuously boosting the aerospace and military fiber optic market.
On the contrary, suspension of older aircraft fleets hurdles the growth of Asia Pacific aircraft interface device market .
Based on component , the Asia Pacific aircraft interface device market is bifructed into cables and connectors.The cables segment held 53.7% market share in 2021, amassing US$ 369.74 million. It is projected to garner US$ 659.32 million by 2028 to expand at 9.4% CAGR during 2021–2028.
Based on systems , the Asia Pacific aircraft interface device market is divided into radar systems, flight management systems, in-flight entertainment systems, communication systems, electronic warfare, cabin interiors, and avionics. The communication systems segment held 25.9% market share in 2021, amassing US$ 178.28 million. It is projected to garner US$ 266.45 million by 2028 to expand at 6.6% CAGR during 2021–2028.
Based on application,the Asia Pacific aircraft interface device market is divided into commercial aviation, military, and general aviation . The military segment held 39.0% market share in 2021, amassing US$ 268.28 million. It is projected to garner US$ 492.84 million by 2028 to expand at 9.8% CAGR during 2021–2028.
Based on country, the Asia Pacific aircraft interface device market has been categorised into the Australia , China , India , Japan, South Korea and Rest of APAC . Our regional analysis states that Japan captured 22.0% market share in 2021. It was assessed at US$ 151.19 million in 2021 and is likely to hit US$ 280.82 million by 2028, exhibiting a CAGR of 10.0% during the forecast period.
Key players dominating the Asia Pacific aircraft interface device market are Carlisle Interconnect Technologies ; TE Connectivity ; Amphenol Corporation ; Raytheon Technologies Corporation ; Nexans ;Radiall ;and Glenair, Inc. among others.
- In 2021, Amphenol Corporation has acquired Halo Technology Limited for approximately $715 million. Halo is headquartered in Tustin, California with operations in Asia Pacific and Asia Pacific, and is a leading provider of active and passive fiber optic interconnect components for the communications infrastructure markets with expected 2021 sales of approximately $250 million.
- In 2020, Radiall have acquired Timbercon, giving Timbercon the opportunity to offer even more extensive range of products to their customers. Timbercon provides fiber-optic interconnect technology for the aerospace, defense, medical, data storage, telecommunications, industrial, broadcast, and networking markets.