Growth in the Fiber Optics Industry Relies on Precision Machined Parts

15 May Growth in the Fiber Optics Industry Relies on Precision Machined Parts

Here at Dynamic Precision Parts, a manufacturing facility in Illinois, we are excited about being part of the ongoing growth of the fiber optics industry. We could say that we are excited about being a “small part” of this vibrant industry because the precision machined parts that we create for the industry are, well, small, relatively speaking. 

Seriously, though, we have been drawing on our depth of experience and unique skillset to provide this industry with precision machined parts for many years. And – with the industry poised for further growth – we are looking forward to delivering more of the kind of precision machined parts with close tolerances the industry demands. 

Projected Growth in Fiber Optics

According to Precedence Research, “The global fiber optics market was valued at US$ 6.81 billion and expected to reach US$ 9.91 billion by 2027, with a compound annual growth rate (CAGR) of 4.6% during the forecast period 2020 to 2027.”

For those of you who may not be familiar with this field the optical fibers which are at the heart of the industry and which have transformed the way communicate, connect and share information, are no thicker than a strand of the hair on your head. They are bundled together to create cables and these delicate cables are at the core of online activity. 

Among the many industries that are fueling the growth of fiber optics, according to Precedence Research, are: 

• Medical
• Oil and Natural Gas
• Military and Defense
• Utilities 
• And, of course, telecommunications

Other factors affecting growth include:

• Increasing development of the Internet of Things (IoT) is also driving the demand for optical fibers, which not only are able to easily transmit data but are also able to do it without losses.
• Ongoing expansion of the internet and increased use of connected devices. “IEA (International Energy Agency) has predicted that the number of internet users will surpass 5 Bn by 2025,” Precedence Research reports. 

If you have questions about the kind of precision machined parts needed for the continued expansion of the fiber optics industry, please contact us.