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    Defense Composites Market Forecast Analysis

    Defense Composites Market Forecast Analysis
    Report code - SRAD272 Published On : Feb,2023 No. of Pages: 135
    Defense Composites Market Size, Share, Trend, Forecast Analysis, and Growth Opportunity: 2 See more...

    Market Insights

    The defense industry is an early adopter of advanced composites, with composite materials being used in crucial sections of military aircraft, helmets, ballistic panels, missile fuselage, and bullet-proof jackets. As of 2022, the market is valued at USD 0.6 billion and is expected to grow at a promising CAGR of 4.7% over the next five years, reaching an estimated annual market size of USD 0.8 billion in 2028.

    Defense-Composites-Market-Insights

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    What are defense composites?

    Defense composites are advanced materials made of high-strength fibers such as carbon or glass, that are embedded in a resin matrix to create a light yet strong material. They offer benefits such as a high strength-to-weight ratio, resistance to corrosion, and extreme temperatures, and are used in a wide range of military applications such as aerospace, naval vessels, and ground vehicles.

    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.

    Recent Market JVs and Acquisitions:

    • In 2018, Toray Industries, Inc. acquired Tencate Advanced Composites from Koninklijke Ten Cate B.V.
    • In 2017, Hexcel Corporation acquired Structil SA, a French company that produces and supplies high-performance composites.

    Segments Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Reinforcement-Type Analysis

    Carbon Composites, Glass Composites, Aramid Composites, and Ceramic Composites

    Carbon composite is anticipated to remain the dominant reinforcement type for defense composites in the years to come.

    Resin-Type Analysis

    Thermoset Composites, Thermoplastic Composites, and Ceramic Matrix Composites

    Thermoplastic composite is likely to witness the highest-growth rate during the forecast period.

    Application-Type Analysis

    Military Aircraft, Naval Systems, Land Vehicles, Personal Protection, Arms & Ammunition, and Others

    Military aircraft is estimated to remain the biggest demand generator and is also likely to witness the highest growth during 2023-2028.

    Regional Analysis

    North America, Europe, Asia-Pacific, and the Rest of the World

    North America is expected to remain the largest market over the next five years, whereas Asia-Pacific is likely to grow at the fastest rate.

     

    By Reinforcement Type

    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.

    By Resin Type

    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.

    Regional Insights

    In terms of regions, North America is expected to remain the largest market for defense composites during the forecast period. Major factors such as 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, are fueling the growth of composites in the North American defense industry. Asia-Pacific and Europe are also likely to create sizeable opportunities in the coming five years.

    Defense-Composites-Market-Regional-Insights

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    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories. 

    By Reinforcement Type

    • Carbon Composites
    • Glass Composites
    • Aramid Composites
    • Ceramic Composites

    By Resin Type

    • Thermoset Composites
    • Thermoplastic Composites
    • Ceramic Matrix Composites

    By Application Type

    • Military Aircraft
    • Naval Systems
    • Land Vehicles
    • Personal Protection
    • Arms & Ammunition
    • Others

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

    Key Players

    The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the defense composites market.

    • 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

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s defense composites market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. 

    We conducted more than 12 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Defense Composites Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The defense composites market is estimated to grow at a healthy CAGR of 4.7% by 2028, driven by increasing demand for composites from various defense applications, including military aircraft, naval systems, defense vehicles, personal protection, arms & ammunition, military hard wall shelters, etc.

    Hexcel Corporation, Solvay S.A. and Toray Industries, Inc., Teijin Limited, Owens Corning, Mitsubishi Chemical Group Corporation, Sigmatex (UK) Limited, SGL Carbon SE, DuPont de Nemours, Inc., LanXess AG. are the leading players in the defense composites market.

    North America is estimated to remain dominant in the defense composites market in the foreseeable future. The growth is driven by rising military expenditure paired with the presence of military aircraft giants such as Boeing and Lockheed Martin.

    Asia-Pacific is estimated to remain the fastest-growing market for defense composites in the foreseeable future. China and India are key economies driving the regions demand for defense composites.

    Thermoset composites are estimated to be the dominant resin type in the defense composites market during the forecast period due to their advantages such as higher tensile strength, dimensional stability, high-temperature resistance, corrosion resistance, and design flexibility.

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