Fiber Optic Rotary Joints Market Size, Share, Growth and Industry Analysis by Type (Single-Channel, And, Multi-Channel), By Application (Military Applications, Medical Equipment, Robotic Systems, Mining and Oil Drilling, Remotely Operated Vehicles (ROVs), And, Other) Regional Forecast By 2031

Updated On: 15 April 2024

Fiber Optic Rotary Joints Market Report Overview

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The global fiber optic rotary joints market size is anticipated to be worth USD 320.49 million in 2022. As per our research, the market is projected to touch USD 874.43 million in 2031 with a CAGR of 10.65 % during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A fiber optic rotary joints (FORJ) is an equipment that will enable an optical signal, to be transmitted between the interface which is present on a continuously rotating platform. This rotating platform is supported with the help of a stationary structure.

Internet of Things, and cloud computing use fiber optics. They provide secure connectivity. Advancement in technology has aided market growth. This can be identified as the new trend in the market.

These devices are used in radar pedestals, armored vehicles, wind turbines, and, electro-optic sensors. They are available in compact sizes with customizable designs. All of these factors have played a very important role in fueling fiber optic rotary joints market share.  

COVID-19 impact: Increasing Prevalence of Work from Home and Online Education Increased Market Growth

Ever since the outbreak of COVID-19, companies ordered their employees to work from their respective homes, to ensure their safety. The spread of infectious virus resulted in the shutdown of numerous factories and industries.

The main reason for the temporary halt in the operation of industries was the shortage of labor. However, the digitalization of education and work brought a massive change in the growth of the optic fibers market. With the increasing use of internet and 5G the necessity of optic fibers also increased. This led to the development of fiber optic rotary joints market during the pandemic.

LATEST TRENDS

"Introduction of IoT and Cloud Computing to Increase Market Growth"

Digitalization has given way to the development of some of the most advanced technologies like Internet of Things (IoT), artificial Intelligence (AI), and cloud computing. The introduction of these technology has driven the need for higher bandwidths along with good connectivity.

 Fiber optics are considered to be the best options for connectivity as they provide secure connection.  Fiber optics are fixed with the help of optic rotary joints. Cloud computing also uses fiber optics, as they efficiently streamline the workflow. Data transmitted through fiber optics is in the form of light beams. As, transferring data through optic fibers is very convenient, they are very widely used. With the increasing adoption of fiber optics, the usage of fiber optic rotary joints has also increased. This is the latest technology in the market.

Fiber Optic Rotary Joints Market Segmentation

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• By Type:

The market can be divided on the basis of type into the following categories:

Single-channel, and, multi-channel. The single-channel segment is expected to hold the dominant market share through 2031.

• By Application:

Classification based on application into the following categories:

Military applications, medical equipment, robotic systems, mining and oil drilling, remotely operated vehicles (ROVs), and, other. The military applications segment is predicted to dominate the market through 2031.

DRIVING FACTORS

"Usage of Rotary Joints in Mechanical Industry to Amplify Market Growth"

Optic rotary joints are used in mainly in the mechanical sector for various purposes. They are used in radar pedestals, armored vehicles, wind turbines, electro-optic sensors for handling the optic signal. These optical signals are always parallel to slip rings that are used for handling electrical signals and power.

There are different kinds of rotary joints available for different purposes. Single or multichannel fiber optical rotary joints are cost and size efficient. When there are more than two fibers present in a system they are multiplexed with the help of single or multichannel FORJs. Single or multimode joints enable the propagation of optical energy via single or multiple modes. These factors are facilitating market growth.

"Desirable Features of Fiber Optical Rotary Joints to Develop Market Growth"

These devices are used in several industries because of their desirable features. Rotary joints are strong and sturdy due to which they can be used in harsh environments. They are also ruggedized to resist any damage or wear and tear.

They are available in compact sizes which makes them easy to work with. They can be customized according to need and requirements. Many custom designs are available. Several configuration options are available. This increases the ease of using fiber optical rotary joints. 

RESTRAINING FACTOR

"Poor Optical Design of Rotary Joints to Decrease Market Growth"

The major disadvantage of using this device is the poor design. Bad design results in improper alignment. Improper alignment of a fiber optical rotary joint can give rise to several other problems. The key optical performance parameters get affected due to poor design.

Losses at very high wavelengths, and high polarization dependent loss, polarization mode dispersion and high crosstalk are some of the other problems of inadequate alignment of rotary joints. This can severely hamper the fiber optic rotary joints market growth.

Fiber Optic Rotary Joints Market Regional Insights

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"Asia Pacific to Dominate Market Growth During Research Period"

Asia Pacific predominantly occupies the market share. The rapid development of 5G networks in many well-developed countries like China, Japan, and South Korea requires the usage of fiber optics to obtain secure connections. 

Many new technologies like AI, cloud computing, and machine learning are being used by several software companies in Asia Pacific. This is propelling the market growth. Different modules of rotary joints with customizable designs are available making them consumer-friendly and easier to use. These factors have increased the market scope in Asia Pacific.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position in the recent days. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market. Key market players have adopted unique strategies to flourish in the market. Many new innovations and changes are being seen in the market.

List of Market Players Profiled

• BGB (Bangladesh)
• Moog (U.S.)
• SenRing Electronics (China)
• Shenzhen Siruida Photoelectric (China)
• Hangzhou Grand Technology (China)
• Jinpat Electronics (China)
• AFE (U.S.)
• Fibernet (Utah)
• Hangzhou Prosper (China)
• Princetel (U.S.)
• Hitachi (Japan)
• Cobham (U.K.)
• Schleifring (Germany)
• AFL (Fujikura) (Australia)
• Servotecnica (E.U.)
• Moflon (U.S.)
• SPINNER (Germany)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. The report also provides information about some of the top industry players in the market.