Lucintel Forecasts Composites In The Global Defense Market To Reach $3 Billion By 2030

By Author: Lucintel LLC
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According to the recent study the composites in the global defense market is projected to reach an estimated $3 billion by 2030 from $1 billion in 2023 at a CAGR of 10% from 2023 to 2030. Growth in this market is primarily driven by increasing use of lightweight and high-performance materials in defense programs and growing need for lightweight materials in ballistic protection solutions.
Browse 83 figures/charts and 76 tables in this 175-page report to understand trends, opportunities and forecast in 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).
Lucintel forecasts that 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.
Carbon fiber composite is expected to remain the largest segment over the forecast period. Aramid composite is expected to witness the highest growth due to its high-temperature performance, better wear resistance, and good compressive strength.
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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.
Major players of composites in the global defense industry are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Cytec Solvay Group, Hexcel Corporation, Tencate Advanced Composites, SGL Carbon SE, Polystrand Inc. (Polyone), Bond Laminates (LANXESS), Toray Industries Inc., and Teijin Limited are among the major composites in the global defense industry providers.
This unique 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 write us at helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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