According to
a new market report published by Lucintel, 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.
In this market, military aircraft, naval systems, land vehicle, body
armor, arms and ammunition, and military hard wall shelter are the major segments.
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.
By resin type,
thermoset composite is expected to
remain the largest segment by value and volume due to its wider application
areas in the defense industry.
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.
Emerging trends, which have a direct impact
on the dynamics of the industry, include the adoption of nano-technology in
ballistic protection materials and growing focus on stealth technology for
military aircrafts.
Some of the companies supplying composite
materials for defense industry are Cytec-Solvay, Hexcel, Tencate, Polystrand, and
Toray.
Lucintel, a
leading global strategic consulting and market research firm, has analyzed growth opportunities in composites
in the defense industry by market segment, reinforcement, resin, and region.
Lucintel has prepared a comprehensive research report entitled “Growth
Opportunities for Composites in the Defense Industry 2018-2023: 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 composites in the
defense industry 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
This
169-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 helpdesk@lucintel.com. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Analysis.
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 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 of the market?
Q.5 What are the business risks and threats to
the market?
Q.6 What are emerging trends in this market
and the reasons behind them?
Q.7 What are some 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?
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