Market Size of Aerospace And Defense Composites Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 23.70 Billion |
Market Size (2029) | USD 33.56 Billion |
CAGR (2024 - 2029) | 7.21 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Aerospace And Defense Composites Market Analysis
The Aerospace And Defense Composites Market size is estimated at USD 23.70 billion in 2024, and is expected to reach USD 33.56 billion by 2029, growing at a CAGR of 7.21% during the forecast period (2024-2029).
The key driver of the market is the increasing adoption of advanced composites in aircraft manufacturing. As the aviation industry aims to reduce carbon emissions and improve fuel efficiency, the use of lightweight composites in airframes, wings, and other aircraft components has become more widespread. Similarly, the modernization of defense in various countries’ military fleets is propelling the demand for composites to produce high-performance military aircraft and land vehicles.
Manufacturing advancements like automated fiber placement technique and resin transfer molding technique have significantly improved the production and quality of composites. These advancements have reduced manufacturing costs and expanded composites’ application scope in various use cases.
High initial costs associated with composite and their manufacturing can be a significant barrier to widespread adoption, particularly for smaller OEMs and emerging countries. Moreover, the complex repair and recycling processes for composite materials pose challenges regarding lifecycle management.
Aerospace And Defense Composites Industry Segmentation
Aerospace and defense composites are a subset of composite materials suitable for use in different defense vehicles, equipment, and aircraft applications. Composites are vital to aircraft and defense applications as they are about half as heavy as aluminum for comparable structural support. These composite structures reduce the weight and fuel consumption for all types of vehicles and aircraft. The report covers a detailed analysis of different composite types, such as thermoset, thermoplastic, and ceramic matrix composites used in aerospace and defense applications.
The aerospace and defense composites market is segmented by application, resin type, aircraft type, and geography. By application, the market is segmented into crewed and crewless aircraft, naval ships, land vehicles, protective equipment, and other applications (satellite structures, panels, missiles, etc.). By resin type, the market is segmented into thermoplastic composites, thermoset composites, and ceramic matrix composites. By aircraft type, the market is segmented into commercial, military, and business jets and general aviation. Also, the report covers the market sizes and forecasts for the aerospace and defense composites market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
Application | |
Manned and Unmanned Aircraft | |
Naval Ships | |
Land Vehicles | |
Protective Equipment | |
Other Applications |
Resin Type | |
Thermoset Composites | |
Thermoplastic Composites | |
Ceramic Matrix Composites |
Aircraft Type | |
Commercial | |
Military | |
Business Jets and General Aviation |
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Aerospace And Defense Composites Market Size Summary
The aerospace and defense composites market is poised for significant growth, driven by the increasing adoption of advanced composites in aircraft manufacturing and defense modernization efforts. The aviation industry is increasingly utilizing lightweight composites to enhance fuel efficiency and reduce carbon emissions, leading to their widespread use in various aircraft components. Similarly, the defense sector's focus on high-performance military aircraft and land vehicles is boosting the demand for these materials. Technological advancements in manufacturing processes, such as automated fiber placement and resin transfer molding, have improved the quality and reduced the costs of composites, expanding their application scope. However, high initial costs and complex lifecycle management processes pose challenges to broader adoption, particularly for smaller original equipment manufacturers and emerging markets.
The market is experiencing robust growth in the Asia-Pacific region, fueled by rising air traffic, infrastructure enhancements, and increased defense spending in countries like China, India, South Korea, and Japan. These nations are investing heavily in modernizing their military fleets, which drives the demand for advanced composites. Key players in the market, including Hexcel Corporation, Syensqo‚Äã SA, Toray Industries Inc., DuPont De Nemours, Inc., and Honeywell International Inc., are focusing on developing lightweight and cost-effective composite solutions for defense applications. Innovations such as DuPont's Kevlar EXO and ArmorSource's next-generation Aire System highlight the ongoing advancements in ballistic protection equipment. The market's semi-consolidated nature sees a few global players holding significant shares, with continuous efforts to introduce advanced composites for various aerospace and defense applications.
Aerospace And Defense Composites Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Manned and Unmanned Aircraft
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2.1.2 Naval Ships
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2.1.3 Land Vehicles
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2.1.4 Protective Equipment
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2.1.5 Other Applications
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2.2 Resin Type
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2.2.1 Thermoset Composites
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2.2.2 Thermoplastic Composites
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2.2.3 Ceramic Matrix Composites
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2.3 Aircraft Type
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2.3.1 Commercial
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2.3.2 Military
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2.3.3 Business Jets and General Aviation
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.2 Europe
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2.4.2.1 United Kingdom
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2.4.2.2 Germany
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2.4.2.3 France
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2.4.2.4 Russia
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2.4.2.5 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 India
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2.4.3.3 Japan
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2.4.3.4 South Korea
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 Latin America
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2.4.4.1 Brazil
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2.4.4.2 Rest of Latin America
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2.4.5 Middle East and Africa
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2.4.5.1 United Arab Emirates
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2.4.5.2 Saudi Arabia
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2.4.5.3 Rest of Middle East and Africa
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Aerospace And Defense Composites Market Size FAQs
How big is the Aerospace And Defense Composites Market?
The Aerospace And Defense Composites Market size is expected to reach USD 23.70 billion in 2024 and grow at a CAGR of 7.21% to reach USD 33.56 billion by 2029.
What is the current Aerospace And Defense Composites Market size?
In 2024, the Aerospace And Defense Composites Market size is expected to reach USD 23.70 billion.