According to a new market report published by Lucintel, the future of the composites in the global defense industry looks promising with opportunities in the military aircraft, naval system, land vehicles, body armor, arms and ammunition, and military hard wall shelters market. The composites in the global defense industry are expected to reach an estimated $966.4 million by 2027 with a CAGR of 7.7% from 2021 to 2027. 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.
In this industry, carbon composites, glass composites, aramid composites, and ceramic composites are the major reinforcement type of composites in the global defense industry. Lucintel forecasts that 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.
Within the composites in the global defense industry, 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.
North America is expected to remain the largest market by value and volume. APAC 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, includes the advanced composite materials as armor protection and focus on mobile capability of military shelters. Cytec Solvay, Hexcel, Tencate Advanced Composites, SGL Carbon, Polystrand Inc. (PolyOne), Bond laminates (LANXESS), Toray Industries, and Teijin Limited are among the major suppliers of composites in the defense industry.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the composites in global defense industry by application, reinforcement type, resin type, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Composites in the Global Defense Industry 2022-2027: 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 the composites in the global defense industry by application, reinforcement type, resin type, and region as follows:
By Application [Value ($M) and Volume (M lbs) shipment analysis for 2016 – 2027]:
Military Aircraft
Naval System
Land Vehicles
Arms and Ammunition
Body Armor
Military Hard Wall Shelters
By Reinforcement Type [Value ($M) and Volume (M lbs) shipment analysis for 2016 – 2027]:
Carbon Composites
Glass Composites
Aramid Composites
Ceramic Composites
By Resin Type [Value ($M) and Volume (M lbs) shipment analysis for 2016 – 2027]:
Thermoset Composites
Thermoplastic Composites
Ceramic Matrix Composites
By Region [Value ($M) and Volume (M lbs) shipment analysis for 2016 – 2027]:
North America
Europe
Germany
The United Kingdom
France
Asia Pacific
The Rest of the World
This 175-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 www.lucintel.com/composites-in-defense-industry.aspx helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high growth opportunities for the composites in the global defense industry by application (military aircraft, naval system, land vehicles, arms and ammunition, body armor, and military hard wall shelter), reinforcement type (carbon composites, glass composites, aramid composites, and ceramic composites), resin type (thermoset composites, thermoplastic composites, and ceramic matrix), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?