Global Aerospace and Defense Composites Market and Technology Forecast to 2029
Posted by Sonika on January 10th, 2022
Bharat Book Bureau Provides the Trending Market Research Report on “Global Aerospace and Defense Composites Market 2021 by Manufacturers, Regions, Type and Application, Forecast to 2026” under Aerospace & Defence Market Research Reports Category. Our report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.
The overall Aerospace and Defense Composites Market reached US.13 bn. The overall market is expected to grow with a CAGR of 8.06% between the period 2021-2029. The total market for Aerospace and Defense Composites is expected to attain a market value of US.47 bn.
The Global Aerospace and Defense Composites Market is segmented by Region, End-Users, Product, Application, Manufacturing, and Resin Type. In terms of regional landscaping, it is seen that North America accounts for roughly 40% of the overall market revenue generated, while APAC is seen to be the second-largest regional segment within the Aerospace and Defense Composites Market.
In terms of End-Users, the overall market is segmented by Commercial Aviation, Defense Aviation, UAVs, Soldier Protection Systems, Armored Vehicles, and others. Commercial Aviation accounts for roughly 61% of the North American Aviation sector. The Soldier Protection System is expected to be the second-largest segment within the North American Market. While UAVs are anticipated to be the fastest-growing segment with a CAGR of 12.36%.
In terms of the product segment, it is seen that the overall market for composites is government by Carbon Fiber Reinforced Composites. Glass Fiber Reinforced Composites account for the second-largest segment within this market. The introduction of technologies like large-scale additive manufacturing is expected to steadfast the growth associated with the product segment. The integration of IT-based technologies like CAD (Computer-Aided Design) is anticipated to steadfast the processing and precision associated with additive manufacturing. The use of technologies like large-scale additive manufacturing is anticipated to reduce the number of components for the concerned defense/aerospace vehicle. The reduced number of components is expected to decrease the assembly time required to assimilate the components.
The total market for composites is further segmented by Application. In terms of applications, OEMs account for a major share within this market with a market value of US.23 bn in 2020. OEM’s are expected to account for roughly 73% of the total market revenue generated by the composites market. In terms of OEMs, thermoset composites govern a major share within this market owing to the low material cost and increased application of this material. The market penetration rate for thermoplastic composites has been increasing owing to the recyclability of this material. Thermoplastics can be used for retrofitting and for the modification of an existing design.
In terms of Manufacturing, Lay Up is expected to account for the largest segment within this market owing to the low cost of equipment and manufacturing. Automation within this market has been propelling the growth associated with methods like the autoclave and Automated Fiber Replacement/Automated Tape Laying.
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About the AuthorSonika
Joined: January 22nd, 2019
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