Market Size of Composite Testing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Composite Testing Market Analysis
The Composite Testing market is expected to grow at a CAGR of XX% during the forecast period (2020-2025). The primary growth driver is the increase in the usage of composite in industries, like aerospace and defense, automotive, and wind energy, along with strict standards, imposed on to govern the testing for composites. Owing to their superior performing capacity and strength, composites are used in vehicles and interior & exterior of aircraft.
- Composites are required to adhere to the proprietary testing standards of manufacturers and other strict composite testing standards, in order to maintain durability and ensure safety. Hence, composite testing plays a significant role to ensure the infrastructure, services, products are met with the standards and regulations pertaining to safety and quality.
- In the Aerospace & Defense Industry, composite materials are replacing the use of traditional materials such as aluminium alloy for aircraft structures., due to the lightweight of composite materials. Additionally, features like lower production waste and significant room for production process improvements, high mechanical strength, and reduced need for subassemblies, are expected to further increase its adoption in several industries.
- For instance, recently, the researchers from MIT in the USA have developed a manufacturing process suitable for large composite aircraft parts that removes the need to use large ovens and autoclaves for curing. Hence, the adoption of composite testing solutions are expected to grow significantly during the forecast period.
- Amidst the global coronavirus outbreak, several companies are trying to contribute to help combat the pandemic and enhance the treatment of the patients. For instance, Core Composites has built and designed advanced composite-based, rigid-wall shelters for the U.S. military. It is an easily deployable shelter that can be used for COVID-19 testing and treatment, and to aid over-capacity hospitals, and can be quickly developed.
