Growth Opportunities for Composites in the Global Defense Industry – A $670 Million Opportunity by 2023 – ResearchAndMarkets.com

The “Growth
Opportunities for Composites in the Global Defense Industry”
report has been added to ResearchAndMarkets.com’s
offering.

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.

Emerging trends, which have a direct impact on the dynamics for
composites in defense 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.

The study includes the market size for composites in defense industry
and forecast for composites in the defense industry through 2023,
segmented by market segment, reinforcement, resin, and region.

The research 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.

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.

Companies Featured

For more information about this report visit https://www.researchandmarkets.com/research/8p6pc6/growth?w=4

View source version on businesswire.com: https://www.businesswire.com/news/home/20180710005923/en/

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