The changing dynamics in Fiber Optics Cable Market with covid-19 impact assessment

The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Fiber Optics Cable Market.

It was estimated prior to this unanticipated outbreak that the Fiber Optics Cable Market for Military and Aerospace was likely to witness an impressive CAGR of 2.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate. Development in the fiber optic cables market for military and aerospace can be credited to the rising commercial acceptance of fiber optics and their evolution in platforms, such as unmanned structures, satellites, and space launch vehicles.

Fiber Optics Cable Market for Military and Aerospace Segment Insights:

By Application Type:

The communication systems segment led the market in 2018. This growth can be attributed to the mounting employment of fiber optic cables in unmanned systems and military aircraft for high speed data communication.

By End-Use Type:

The military segment is estimated to lead the market in the coming five years, owing to the growing use of fiber optic cables for C4ISR applications for high speed communication.

By Type:

The single-mode segment is expected to register a higher growth during the forecast period. Acceptance of single-mode fiber optic cables to link defense units, such as military weapon stations and command centres is estimated to lead to the growth of the market in the coming five years.

By Region:

North American region led the fiber optic cables market for military and aerospace in 2018. The US and Canada are the major growth engines of this region. Growing adoption of fiber optic cables for high-speed land connectivity and obtaining military and commercial aircraft is anticipated to drive the growth of the fiber optic cables market for military and aerospace in North America. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.