Ceramic Matrix Composites to See Strong Growth in Defense Industry Applications
The composite materials market in the global defense industry is expected to reach an estimated $670 million by 2023, growing at a CAGR of 1.8% from 2018 to 2023.
The future of composite materials in the global defense industry looks good, according to a report available from Research and Markets, with opportunities in military aircraft, naval systems, land vehicles, body armor, arms and ammunition, and military hard wall shelters. The composite materials market in the global defense industry is expected to reach an estimated $670 million by 2023, growing at a CAGR of 1.8% from 2018 to 2023.
Composite applications in the defense industry include helicopter rotor blades, ballistic protection plates, control surfaces, radomes, doors, and fuselages. The major growth drivers for this market include the increasing use of lightweight and high-performance materials in defense programs, as well as the growing need for lightweight materials in ballistic protection solutions. Emerging trends with a direct impact on the dynamics for composites in the defense industry include the adoption of nanotechnology in ballistic protection materials and a growing focus on stealth technology for military aircrafts.
Military aircraft is expected to remain the largest segment, while body armor is expected to witness the highest growth during the forecast period due to 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 composites (CMCs) are expected to witness the highest growth due to their high-temperature performance, better wear resistance and good compressive strength.
North America is forecast to remain the largest market by value and volume. ROW (rest of the World) is expected to witness the highest growth over the forecast period due to the growth of new defense programs.
Additional details are available at www.researchandmarkets.com.