According to a new market report published by Lucintel, the future of the composite materials in the defense industry looks good with opportunities in military aircraft, naval systems, land vehicle, body armor, arms & ammunition, and military hard wall shelter. The composite materials market in the defense industry is expected to reach an estimated $678 million by 2024 and is forecast to grow at a CAGR of 1.7% from 2019 to 2024. Some of the applications of composites in the defense industry are helicopter rotor blade, ballistic protection plates, control surface, radome, doors, and fuselage. The major growth drivers for this market are increasing use of lightweight and high-performance materials in defense programs and growing need for lightweight materials in ballistic protection solutions.
Browse 78 market data tables and 81 figures spread through 169 pages and in-depth TOC on “Composites in the Defense Market”
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In this market, military aircraft, naval systems, land vehicle, body armor, arms and ammunition, and military hard wall shelter are the major segments. Lucintel forecasts that the military aircraft is expected to remain the largest segment, while body armor is expected to witness the highest growth during the forecast period supported by the growing demand for lightweight and high strength ballistic protection materials.
By reinforcement type, carbon fiber composite is expected to remain the largest segment over the forecast period. Ceramic matrix composite is expected to witness the highest growth due to its high-temperature performance, better wear resistance, and good compressive strength.
By resin type, thermoset composite is expected to remain the largest segment by value and volume due to its wider application areas in the defense industry.
North America is expected to remain the largest market by value and volume. ROW is expected to witness the highest growth over the forecast period because of growth of new defense programs in the region.
Emerging trends, which have a direct impact on the dynamics of the industry, include the adoption of nano-technology in ballistic protection materials and growing focus on stealth technology for military aircrafts. Some of the companies supplying composite materials for defense industry are Cytec-Solvay, Hexcel, Tencate, Polystrand, and Toray.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in composites in the defense industry by market segment, reinforcement, resin, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities for Composites in the Defense Industry 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for composites in the defense industry by market segment, reinforcement, resin, and region as follows:
Composites in Defense Industry by Market Segment [Volume (M lbs) and $M shipment analysis for 2013–2024]:
Military AircraftStructural ComponentsControl SurfaceEngine ComponentsHelicopter Rotor BladeOthersNaval SystemsSuperstructureRudderOthersLand VehiclesVehicle ArmorOthersBody ArmorVest Protection PlateSoldier HelmetsOthersArms and AmmunitionMilitary Hard Wall Shelter
Composites in Defense Industry by Reinforcement [Volume (M lbs) and $M shipment analysis for 2013–2024]:
Carbon CompositesGlass CompositesCeramic Matrix CompositesAramid Composites
Composites in Defense Industry by Resin [Volume (M lbs) and $M shipment analysis for 2013–2024]:
Thermoset CompositesCeramic Matrix CompositesThermoplastic Composites
Composites in Defense Industry by Region [Volume (M lbs) and $M shipment analysis for 2013–2024]:
North AmericaUSRest of North AmericaEuropeFranceGermanyUnited KingdomRest of EuropeAsia PacificChinaJapanRest of Asia PacificRest of the WorldBrazilIsraelROW
This 169-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/composites-in-defense-industry.aspx or email@example.com.
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