Global Defense Composites Market Report 2023: An $800 Million Market by 2028 – Greater Demand for Lightweight Materials and Increasing Preference for Composites in Large-sized Applications
DUBLIN, April 21, 2023 /PRNewswire/ — The “Defense Composites Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The defense composites market started rebounding from 2021 onwards and is likely to grow at a promising CAGR of 4.7% over the next five years to reach an annual market size of US$ 800 Million in 2028.
The defense industry is an early adopter of advanced composites. The lessons learnt from the incorporation of advanced composites in the crucial sections have lately been replicated in other aerospace platforms including commercial aircraft.
Today, composite materials are used in building several crucial sections of military aircraft such as the fuselage and wings of military aircraft. Similarly, helmets, ballistic panels, missile fuselage, and bullet-proof jackets are other noticeable applications where the penetration of composites has been rising over the eons.
Unlike other aerospace platforms, such as general aviation and commercial aircraft, that recorded a colossal plunge amid the pandemic, the defense industry recorded a relatively low decline, thanks to the long-term contracts followed by continued focus on lading economies to further strengthen their defense capabilities. In the year 2020, the defense composites market witnessed a decline of -10.
Major factors, such as increasing penetration of composites in various defense applications, greater demand for lightweight materials, and increasing preference for composites in large-sized applications, are expected to propel the growth of defense composites during the forecast period.
Report Scope
Carbon composite is anticipated to remain the most preferred material type in the market during the forecast period.
The lightweight characteristic combined with high-tensile strength gives carbon fiber a clear advantage over its metal counterparts for many military and defense applications. In addition, an expected increase in production rates of the key military aircraft programs is expected to give additional impetus to the demand for carbon composites during the forecast period.
Thermoplastic composite is expected to witness the highest growth in the market during the forecast period. High-impact resistance, strength, sustainability, ease of production, and re-formability are the major factors driving the growth of thermoplastic composites in the defense industry. On the other hand, thermoset composite is anticipated to remain the most dominant category in the years to come.
In terms of regions, North America is expected to remain the largest market for defense composites during the forecast period. Major factors such as increasing focus on composite-rich military aircraft, lightweight defense vehicles, and weight reduction in personal protection equipment, such as body armor, tactical helmets, and shields, are fueling the growth of composites in the North American defense industry. Asia-Pacific and Europe are also likely to create sizeable opportunities in the coming five years.
Key Players
The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.
The following are the key players in the defense composites market.
- Hexcel Corporation
- Solvay S.A
- Toray Industries, Inc
- Teijin Limited
- Owens Corning
- Mitsubishi Chemical Group Corporation
- Sigmatex (UK) Limited
- SGL Carbon SE
- DuPont de Nemours, Inc
- Lanxess AG
Key Topics Covered:
1. Executive Summary
2. Defense Composites Market Environment Analysis
2.1. Supply Chain Analysis
2.2. PEST Analysis
2.3. Industry Life Cycle Analysis
2.4. Market Drivers
2.5. Market Challenges
3. Defense Composites Market Assessment (2017-2028) (US$ Million and Million Lbs.)
3.1. Defense Composites Market Trend and Forecast (US$ Million and Million Lbs.)
3.2. Market Scenario Analysis: Growth Trajectories in Different Market Conditions
4. Defense Composites Market Segment Analysis (2017-2028) (US$ Million and Million Lbs.)
4.1. Reinforcement-Type Analysis
4.1.1. Carbon Composites: Regional Trend and Forecast (US$ Million and Million Lbs.)
4.1.2. Glass Composites: Regional Trend and Forecast (US$ Million and Million Lbs.)
4.1.3. Aramid Composites: Regional Trend and Forecast (US$ Million and Million Lbs.)
4.1.4. Ceramic Composites: Regional Trend and Forecast (US$ Million and Million Lbs.)
4.2. Resin-Type Analysis
4.2.1. Thermoset Composites: Regional Trend and Forecast (US$ Million and Million Lbs.)
4.2.2. Thermoplastic Composites: Regional Trend and Forecast (US$ Million and Million Lbs.)
4.2.3. Ceramic Matrix Composites: Regional Trend and Forecast (US$ Million and Million Lbs.)
4.3. Application-Type Analysis
4.3.1. Military Aircraft: Regional Trend and Forecast (US$ Million and Million Lbs.)
4.3.2. Naval Systems: Regional Trend and Forecast (US$ Million and Million Lbs.)
4.3.3. Land Vehicles: Regional Trend and Forecast (US$ Million and Million Lbs.)
4.3.4. Personal Protection: Regional Trend and Forecast (US$ Million and Million Lbs.)
4.3.5. Arms & Ammunition: Regional Trend and Forecast (US$ Million and Million Lbs.)
4.3.6. Others: Regional Trend and Forecast (US$ Million and Million Lbs.)
4.4. Regional Analysis
5. Competitive Analysis
5.1. Market Consolidation Level
5.2. Competitive Landscape
5.3. Market Share Analysis
5.4. Product Portfolio Analysis
5.5. Geographical Presence
5.6. Strategic Alliances
5.7. Porter’s Five Forces Analysis
6. Strategic Growth Opportunities
6.1. Market Attractiveness Analysis
6.1.1. Market Attractiveness by Reinforcement Type
6.1.2. Market Attractiveness by Resin Type
6.1.3. Market Attractiveness by Application Type
6.1.4. Market Attractiveness by Region
6.1.5. Market Attractiveness by Country
6.2. Emerging Trends
6.3. Strategic Implications
6.4. Key Success Factors (KSFs)
7. Company Profile of Key Players (Alphabetically Arranged)
For more information about this report visit https://www.researchandmarkets.com/r/134tho
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:SOURCE Research and Markets
Private Internet Access gives you unparalleled access to thousands
of next-gen servers in over 83 countries and each US state. Your
VPN experience will always be fast, smooth, and reliable.
