Detroit, Oct. 21, 2024 (GLOBE NEWSWIRE) -- The global defense composites market is projected to witness a growth rate of 4.7% annually from 2023 to 2028, with an anticipated size of US$ 0.8 billion by 2028, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global defense composites market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights
| Market Size in 2028 (billion US$) | 0.8 |
| Growth (CAGR) | 4.7% during 2023-2028 |
| Forecast Period | 2023-2028 |
| Trend Period | 2017-2021 |
| Base Year | 2022 |
| Number of Segments Covered | 4 |
| Number of Tables & Graphs | 100+ |
| Country-Level Market Assessment | 20 |
Segment Insights on the Defense Composites Market
The global defense composites market is segmented based on reinforcement type, resin type, application type, and region.
Based on reinforcement type – The market is segmented into carbon composites, glass composites, aramid composites, and ceramic composites. 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.
Based on the resin type - The market is segmented into thermoset composites, thermoplastic composites, and ceramic matrix composites. 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.
To know the most attractive segments, click here for a free sample of the report:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that North America is expected to remain the largest market for defense composites during the forecast period. This growth outlook is majorly attributed to the following –
- 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.
Likewise, the Asia-Pacific and Europe are also likely to create sizeable opportunities in the coming five years.
Defense Composites Market Drivers
Some of the key drivers listed in the report are given below.
- Rising military and defense spending in developing countries.
- The increasing demand for unmanned aerial vehicles (UAVs) and drones.
- The shift towards eco-friendly and sustainable materials in defense and military applications.
Top 10 Companies in the Defense Composites Market:
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. Stratview Research has identified the following companies as the top market players (arranged alphabetically).
- DuPont de Nemours, Inc.
- Hexcel Corporation
- Lanxess AG
- Mitsubishi Chemical Group Corporation
- Owens Corning
- Solvay S.A.
- Sigmatex (UK) Limited
- SGL Carbon SE
- Toray Industries, Inc.
- Teijin Limited
What Deliverables Will You Get in this Report?
| Key questions this report answers | Relevant contents in the report |
| How big is the sales opportunity? | In-depth analysis of the Defense Composites Market |
| How lucrative is the future? | Market forecast and trend data and emerging trends |
| Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
| Which are the most attractive market segments? | Market segment analysis and forecast |
| Who are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
| How complex is the business environment? | Porter’s five forces analysis, PEST analysis, Life cycle analysis |
| What are the factors affecting the market? | Drivers & challenges |
| Will I get the information on my specific requirements? | 10% free customization |
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
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It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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