Stratview Research announces the launch of a new research report on Global Missile Composites Market by Missile Type (Ballistic Missile and Cruise Missile), by Component Type (Rocket Motor Case, Radome, Propulsion System, Equipment Section, Airframe, and Others), by Material Type (Ceramic Matrix Composites, Glass Fiber-Reinforced Composites, Carbon Fiber-Reinforced Composites, and Others), by Range Type (Short Range, Medium Range, and Long Range), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017-2022.
This report, from Stratview Research, studies the missile composites market in the global defense industry over the period 2011 to 2022. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Global Missile Composites Market: Highlights from the Report
As per Stratview Research, the global missile composites market is projected to offer healthy growth and reach an estimated US$ 141.8 million in 2022, which offers an opportunity to the composites industry players to align themselves with the market growth.
The author of the market report concluded that high usage of composites in missiles, increasing procurement for missiles propelled by rising defense budget of the developing economies, and an upgrade of missiles with the adoption of new technologies are some of the key factors proliferating the demand for composites in missiles.
As per the study, ballistic missile currently accounted for a larger share in the global missile composites market and is projected to maintain its dominance during the forecast period. Increasing procurement of ballistic missiles owing to their precision-striking and long-distance coverage capabilities coupled with the high usage of composite parts is driving the growth of the segment.
Based on the component type, rocket motor case is projected to remain the most dominant component in the global missile composites market during the forecast period. There are a wide array of factors bolstering the demand for composites in rocket motor cases including their design abilities to withstand high pressure and thermal loads for effective flight and propulsion system of missiles. Composite has been a perennial choice of material in rocket motor case for increasing the range and payload weight capacity.
In terms of material type, carbon fiber composite is projected to remain the most preferred material type in the global missile composites market during the forecast period. The material type is also likely to witness the highest growth during the same period. Carbon fiber offers many advantages over glass fiber including excellent temperature resistance, high strength-to-weight ratio, and low weight. All the major composite applications of missiles are mainly fabricated using carbon fiber composites.
In terms of region, North America is expected to remain the largest market for missile composites during 2017-222. This high dominance of North America is primarily due to the high procurement of defense equipment including missiles and presence of large number of manufacturers in the region. Asia-Pacific is likely to witness the highest growth rate during the same period (2017-2022), owing to rising defense budgets. China, India, and South Korea are likely to be the major growth engines of the missile composites market in Asia.
The major composite part fabricators for missiles are Meggitt PLC, General Dynamics Corporation, Orbital ATK Inc., Kaman Aerospace Corporation, Matrix Composites, Inc., and San Diego Composites, Inc. These composite part fabricators supply parts to missile manufacturers, such as Raytheon, Northrop Grumman, and Lockheed Martin. The buyers of missiles include defense departments, government bodies, navy forces, armed forces, and others.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the global missile composites market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the five ways in which the market is segmented:
Global Missile Composites Market by Missile Type:
Global Missile Composites Market by Component Type:
Global Missile Composites Market by Material Type:
Global Missile Composites Market by Range Type:
Global Missile Composites Market by Region:
Stratview Research has several high value market reports in the composites and advanced materials industry. Please refer to the following link to browse through our reports:
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