Defense Composites Market is Forecast to Reach US$ 0.8 Billion in 2028, Says Stratview Research

The Defense Composites Market is likely to rise at a CAGR of 4.7% during 2023-2028, to reach US$ 0.8 billion in 2028, states Stratview Research.

DETROIT, June 16, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the global Defense Composites Market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on Defense Composites Market

The global Defense Composites Market is segmented based on reinforcement type, resin type, application type, and region.

Based on the 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.

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Which Region Offers the Best Opportunity and Growth?

The report suggests that North America is expected to remain the largest market for Defense Composites during the forecast period. This growth 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.

Likewise, the Asia-Pacific and Europe are also likely to create sizeable opportunities in the coming five years.

Defense Composites Market Drivers

The increasing demand for lightweight and high-strength materials in military and defense applications is the primary driver of the defense composites market. Apart from this, there are several other factors that drive the global market for defense composites. Such as–

• Rising military and defense spending in developing countries,
• With the increasing demand for unmanned aerial vehicles (UAVs) and drones,
• The shift towards eco-friendly and sustainable materials in defense and military applications.

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Top 10 Companies in Defense Composites Market?

The market is fairly consolidated with the presence of some global and regional players. Stratview Research has identified the following companies as the top market players.

• Hexcel Corporation
• Solvay S.A.
• Toray Industries, Inc.
• Teijin Limited
• Owens Corning
• Mitsubishi Chemical Group Corporation
• Sigmatex (UK) Limited
• SGL Carbon SE
• DuPont de Nemours, Inc.
• Lanxess AG

What Deliverables Will You Get in this Report?

Related reports which might be useful:

• Ballistic Composites Market
• Missile Composite Materials Market

About us –

Stratview Research is a global market research firm that highly specialises in aerospace & defense, chemicals, and few other industries.

It launches limited number of reports annually on the above-mentioned specialisations. The reliability and insightfulness of the reports enable the readers take convincing business decisions.

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