The composite materials market in the global defense industry is expected to reach an estimated $670 million by 2023 and is forecast to grow at a CAGR of 1.8% from 2018 to 2023

NEW YORK, August 21, 2018 /PRNewswire/ -- Trends, opportunities and forecast for composites in the global defense industry to 2023 by market segments (military aircraft, naval systems, land vehicle, body armor, arms and ammunition and military hard wall shelter), by reinforcement (carbon composites, glass composites, aramid composites and ceramic matrix composites), by resin (thermoset composites, thermoplastic composites and ceramic matrix composites), and by region (North America, Europe, Asia Pacific, and the Rest of the World)

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The future of the composite materials in the global 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 global defense industry is expected to reach an estimated $670 million by 2023 and is forecast to grow at a CAGR of 1.8% from 2018 to 2023. 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.

Emerging trends, which have a direct impact on the dynamics for composites in defense industry, include the adoption of nano-technology in ballistic protection materials and growing focus on stealth technology for military aircrafts.

composites by reinforcement

composites in defense trends

The study includes the market size for composites in defense industry and forecast for composites in the defense industry through 2023, segmented by market segment, reinforcement, resin, and region as follows:

Composites in Defense Industry by Market Segment [Volume (M lbs) and $M shipment analysis for 2012–2023]:
Military Aircraft Structural Components Control Surface Engine Components Helicopter Rotor Blade Others Naval Systems Superstructure Rudder Others Land Vehicles Vehicle Armor Others Body Armor Vest Protection Plate Soldier Helmets Others Arms and Ammunition Military Hard Wall Shelter

Composites in Defense Industry by Reinforcement [Volume (M lbs) and $M shipment analysis for 2012–2023]:
Carbon Composites Glass Composites Ceramic Matrix Composites Aramid Composites

Composites in Defense Industry by Resin [Volume (M lbs) and $M shipment analysis for 2012–2023]:
Thermoset Composites Ceramic Matrix Composites Thermoplastic Composites

Composites in Defense Industry by Region [Volume (M lbs) and $M shipment analysis for 2012–2023]:
North America US Rest of North America Europe France Germany United Kingdom Rest of Europe Asia Pacific China Japan Rest of Asia Pacific Rest of the World Brazil Israel ROW

Some of the companies supplying composite materials for defense industry are Cytec-Solvay, Hexcel, Tencate, Polystrand, and Toray.

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.

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.

Some of the features of "Growth Opportunities for Composites in the Global Defense Industry" include:
Market size estimates: Composites in the global defense industry size estimation in terms of value ($M) and volume (M Lbs.) shipment.
Trend and forecast analysis: Market trend (2012-2017) and forecast (2018-2023) by application, and end use industry.
Segmentation analysis: Composites in the global defense industry size by various applications such as market segment, reinforcement, and resin segment in terms of value and volume shipment.
Regional analysis: Composites in the global defense industry breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of composites in the global defense industry.
Strategic analysis: This includes M&A, new product development, and competitive landscape of composites in the global defense industry. Analysis of competitive intensity of the industry based on Porter's Five Forces model.

This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for composites in the defense industry by market segments (military aircraft, naval systems, land vehicle, body armor, arms and ammunition and military hard wall shelter), by reinforcement (carbon composites, glass composites, aramid composites and ceramic matrix composites), by resin (thermoset composites, thermoplastic composites and ceramic matrix composites), and by 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 for composites in the defense industry?
Q.5 What are the business risks and threats for composites in the defense industry?
Q.6 What are emerging trends for composites in the defense industry and the reasons behind them?
Q.7 What are some changing demands of customers for composites in the defense industry?
Q.8 What are the new developments for composites in the defense industry? Which companies are leading these developments?
Q.9 Who are the major players for composites in the defense industry? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes for composites in the defense industry 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 for composites in the defense industry?

Read the full report: https://www.reportlinker.com/p05471671

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