BIS research study highlights that the global high-speed aircraft and missile composite materials market will reach $2.08 billion by 2032
FREMONT, Calif., June 20, 2022 /PRNewswire/ — The global market for composite materials for aircraft and high-speed missiles is expected to reach $2.08 billion in terms of revenue by 2032, at a CAGR of 2.47%, suggests BIS Research’s premium study.
Several projects are currently underway to produce advanced composite materials that are high in strength and lightweight, which improves the overall performance of aircraft, resulting in the proliferation of the composite materials market for aircraft and high-speed missiles.
Aircraft manufacturing engineers test materials for supersonic flight, which include both innovative and traditional materials. Several factors such as performance, cost, strength and weight are considered for the selection of composite materials for hypersonic and supersonic aircraft and missiles.
Each component of an aircraft is expected to maintain its mechanical properties throughout the life of the aircraft and to function equally well after 500 flight hours as after 50 hours.
With increased investment in missile defense spending and orders for supersonic military aircraft, the demand for composite materials has also increased significantly.
The detailed study is a compilation of 65 market data tables and 19 figures spread over 150 pages and an in-depth TOC on “Global High Speed Aircraft and Missile Composite Materials Market – Analysis and Forecast, 2022 – 2032 “
Demand – Drivers and Limits
Following are the drivers of Aircraft and High Speed Missile Composite Materials Market:
- Changing operational efficiency requirements are driving the adoption of composites in aircraft manufacturing
- Rising Defense Spending in Missile Defense Segment Drives Adoption of Composite Materials
The following are the market challenges for composite materials for high-speed aircraft and missiles:
- Technical challenges associated with hypersonic and supersonic aircraft and missiles
- High cost of materials and requirement of specialized manufacturing process
Following are the opportunities for Aircraft and High Speed Missile Composite Materials Market:
- Evolution of next-generation carbon fiber composites enabling the manufacture of next-generation aircraft and missiles
Reasons to buy this report
This exclusive Aircraft and High Velocity Missile Composite Materials Market report will help you in the following ways:
- A dedicated section emphasizing futuristic trends embraced by major players operating in the global High Speed Aircraft and Missile Composite Materials Market.
- A section dedicated to growth opportunities and recommendations.
- A qualitative and quantitative analysis of aircraft and high-speed missile composite materials at the region level and national granularity by end-user segment and subsystem.
Market Analyst’s View:
According Arunkumar SampathkumarSenior Analyst, BIS Research, “Missile defense spending is on the rise as hypersonic missile systems gain global prominence. While dedicated hypersonic missiles are being developed, new platforms such as hypersonic glide vehicles are also being developed. With the evolution of new missile defense operations, the need for improved composite materials is also on the rise.”
See the report in the global market for composite materials for high-speed aircraft and missiles
Key Companies Operating in the Market and Competitive Landscape
Featured companies have been selected based on information gathered from leading experts and analysis of the company’s coverage, product portfolio and market penetration.
In 2021, the major players in the leading segment of the market include established players supplying composite materials for the manufacture of high-speed aircraft and missiles and constitute 60% of the market presence.
Emerging market players include start-up entities that account for approximately 15% of market presence. Manufacturers of aircraft and high-speed missile composite materials and subsystem suppliers account for approximately 25% of the market presence.
Some of the most prominent established names in this market are:
Business type 1: key composite material for high-speed aircraft and missiles
- ACPT Inc. (Advanced Composite Products and Technologies, Inc.)
- General Dynamics Mission Systems
- Hexcel Corporation
- Kaman Company
- Solvay S.A.
- teijin limited
Business Type 2: Emerging Market Participants
- Applied Composites Holdings, LLC
- Boston Materials, Inc.
- Cecency Ltd.
- SGL Carbon SE
Business Type 3: Manufacturers of composite materials for aircraft and high-speed missiles and suppliers of subsystems
- Boom Technology, Inc.
- Bramhos Aerospace Pvt. ltd.
- Collins Aerospace
- Lockheed Martin Company
Companies that are not part of the previously mentioned pool have been well represented in the various sections of the report (where applicable).
Who should buy this report?
Companies that manufacture hypersonic and supersonic aircraft and missile components and subsystems, as well as companies supplying composite materials to aircraft and missile manufacturers, should purchase this report.
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Key questions answered by the report:
- What is the estimated size of the global high-speed aircraft and missile composite materials market in terms of revenue for the forecast period 2022-2032?
- What is the compound annual growth rate (CAGR) expected over the forecast period 2022-2032?
- What are the key trends, market drivers and opportunities in the market regarding the composite materials for aircraft and high speed missiles market?
- What are the major restraints restraining the growth of the Global Aircraft and High Speed Missile Composite Materials Market?
- What kinds of new strategies are being adopted by existing market players to strengthen their market position in the industry?
- For a new company looking to enter the composite materials market for aircraft and high-speed missiles, what areas could it focus on to stay ahead of the competition?
- What is the competitive strength of the major Aircraft and High Speed Missile Composite Materials market players based on the analysis of their recent developments, product offerings and regional presence?
- What are the type of players operating in the High Speed Aircraft and Missile Composite Materials market ecosystem, and how prominent are they in the global market?
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focused on deep technologies and related emerging trends that may disrupt market dynamics in the near future. We publish over 200 market intelligence studies annually that focus on multiple deep technology verticals.
Our strategic market analysis emphasizes market estimates, technology analysis, high growth emerging applications, deeply segmented country-level granular market data, and other significant market parameters helpful in making strategic decision making for senior management.
BIS Research offers group studies as well as custom studies and expert consultations to companies, providing them with specific and actionable insights into new technology markets, business models and the competitive landscape.
BIS Healthcare vertical offers health technology market insights for medical devices, digital health, life sciences, robotics and imaging, information technology, precision medicine and other emerging health technologies, spanning the entire industry spectrum. Over the past 5 years, BIS Healthcare has published over 50 reports under the Precision Medicine banner. Additionally, BIS Research has successfully nominated the top 25 precision medicine voices on its Insight Monk platform for the past two years.
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