BIS Research Study Highlights the Global High-Speed Aircraft and Missiles Composite Material Market to Reach $2.08 billion by 2032
FREMONT, Calif., June 20, 2022 /PRNewswire/ -- The global high-speed aircraft and missiles composite material market is projected to reach $2.08 billion in terms of revenue by 2032, at a CAGR of 2.47%, suggests the premium market intelligence study by BIS Research.
Several projects are currently in progress to produce advanced composite materials that offer high strength and are lightweight, which improves the overall performance of aircraft, resulting in the proliferation of the high-speed aircraft and missiles composite material market.
Aircraft manufacturing engineers are testing materials for supersonic flight, which includes both innovative and traditional materials. Several factors such as performance, cost, strength, and weight are taken into consideration for the composite material selection of hypersonic and supersonic aircraft and missiles.
Each component of an aircraft is expected to maintain its mechanical properties throughout the life of the aircraft and perform just as well after 500 hours of flight time as it would after 50 hours.
With the increasing investment in missile defense spending and orders placed for supersonic military aircraft, the demand for composite material has also significantly increased.
The detailed study is a compilation of 65 market data tables and 19 figures spread through 150 pages and in-depth TOC on "Global High-Speed Aircraft and Missiles Composite Material Market – Analysis and Forecast, 2022-2032"
Demand – Drivers and Limitations
Following are the drivers for the high-speed aircraft and missiles composite material market:
- Evolving operational efficiency requirements driving uptake of composites in aircraft manufacturing
- Increasing defense spending in the missile defense segment driving uptake of composite materials
Following are the challenges for the high-speed aircraft and missiles composite material market:
- Technical challenges associated with hypersonic and supersonic aircraft and missiles
- High material cost and requirement of the specialized manufacturing process
Following are the opportunities for the high-speed aircraft and missiles composite material market:
- Evolution of next-gen carbon fiber composites enabling next-gen aircraft and missile manufacturing
Reasons to Buy This Report
This exclusive report on high-speed aircraft and missiles composite material market will help you in the following ways:
- A dedicated section focusing on the futuristic trends adopted by the key players operating in the global high-speed aircraft and missiles composite material market.
- A dedicated section on growth opportunities and recommendations.
- A qualitative and quantitative analysis of high-speed aircraft and missiles composite material at the region and country-level granularity by end-user and subsystem segments.
Analyst's Take on the Market:
According to Arunkumar Sampathkumar, Principal Analyst, BIS Research, "Missile defense spending is on the rise, with hypersonic missile systems gaining prominence globally. While dedicated hypersonic missiles are being developed, new platforms such as hypersonic glide vehicles are also developed. With new missile defense operations evolving as a consequence, the need for enhanced composite materials is also on the rise."
View the report on Global High-Speed Aircraft and Missiles Composite Material Market
Key Companies Operating in the Market and Competitive Landscape
The companies that are profiled have been selected based on inputs gathered from primary experts and analysis of the company's coverage, product portfolio, and market penetration.
In 2021, the top segment players leading the market include established players providing composite material for the manufacturing of high-speed aircraft and missiles and constitute 60% of the presence in the market.
Emerging market participants include start-up entities that account for approximately 15% of the presence in the market. High-speed aircraft and missiles composite material manufacturers and subsystem suppliers account for approximately 25% of the presence in the market.
Some of the prominent established names in this market are:
Company Type 1: Key High-Speed Aircraft and Missiles Composite Material
- ACPT Inc. (Advanced Composite Products & Technology, Inc.)
- General Dynamics Mission Systems
- Hexcel Corporation
- Kaman Corporation
- Solvay S.A.
- Teijin Limited
Company Type 2: Emerging Market Participants
- Applied Composites Holdings, LLC
- Boston Materials, Inc.
- Cecence Ltd.
- SGL Carbon SE
Company Type 3: High-Speed Aircraft and Missiles Composite Material Manufacturers and Subsystem Suppliers
- Boom Technology, Inc.
- Bramhos Aerospace Pvt. Ltd.
- Collins Aerospace
- Lockheed Martin Corporation
Companies that are not a part of the previously mentioned pool have been well represented across different sections of the report (wherever applicable).
Who should buy this report?
Companies that manufacture components and subsystems of hypersonic and supersonic aircraft and missiles, and also the companies supplying composite material to the aircraft and missile manufacturers, should buy this report.
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Key Questions Answered in the Report:
- What is the estimated global high-speed aircraft and missiles composite material market size in terms of revenue for the forecast period 2022-2032?
- What is the expected compound annual growth rate (CAGR) during the forecast period 2022-2032?
- What are the key trends, market drivers, and opportunities in the market about the high-speed aircraft and missiles composite material market?
- What are the major restraints inhibiting the growth of the global high-speed aircraft and missiles composite material market?
- What kinds of new strategies are being adopted by the existing market players to strengthen their market position in the industry?
- For a new company looking to enter the high-speed aircraft and missiles composite material market, which areas could it focus upon to stay ahead of the competition?
- What is the competitive strength of the key players in the high-speed aircraft and missiles composite material market based on the analysis of their recent developments, product offerings, and regional presence?
- What is the type of players operating in the market ecosystem of high-speed aircraft and missiles composite material, and what is their significance in the global market?
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them specific and actionable insights on novel technology markets, business models, and competitive landscape.
BIS Healthcare vertical offers intelligence in the healthcare technology market for Medical Devices, Digital Health, Life Sciences, Robotics and Imaging, Information Technology, Precision Medicine, and other emerging healthcare technologies, covering the entire industry spectrum. In the past 5 years, BIS Healthcare has published more than 50 reports under the precision medicine banner. Additionally, BIS Research has been nominating Top 25 Voices in Precision Medicine on its Insight Monk platform for the past two years successfully.
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