Market Size of Composites in United States Defense Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Defense Composites Market Analysis
The Composites in United States defense market was valued at USD 2,968 million in 2020, and it is projected to reach USD 3,413 million by 2026, registering a CAGR of 2.5% during the forecast period (2021-2026).
The outbreak of COVID-19 and the subsequent shutdowns have affected the defense manufacturing sector in the country. The negative impacts of the pandemic are clearly visible in the supply chains of several players, as several programs rely on a uniquely global network of part suppliers. Though the government and defense companies have tried their best to avoid disruptions, the pandemic has impacted production in several facilities. Furthermore, the advent of the second wave of COVID-19 in several regions across the world remains a concern for the market players.
The United States has been investing billions in the development of newer generation military platforms, vehicles, and offensive and defensive systems to enhance the mission readiness of its armed forces and maintain its technological superiority. Most of these newer generation weapon systems feature increased use of composite materials. Such procurements are expected to propel the growth of the market during the forecast period.
In addition to procurement, the US government also funds several research programs that focus on developing future military systems using advanced non-traditional materials like composite materials. This is expected to bolster the market prospects during the forecast period.
