Aerospace Industry Today
The Market of Missile Composites to grow beyond US$ 141.8 million by 2022
The new report of Stratview Research analyses the Missile Composites Market over the trend period from 2011 to 2016 and forecast period from 2017 to 2022. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Published 15 July 2019
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
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An overview: The demand for composites in missiles
The missile composites market is likely to exhibit attractive growth opportunities in the entire ecosystem with an expected market size of US$ 141.8 million in 2022. High usage of composites in missiles, increasing procurement for missiles propelled by rising defense budget of the developing economies, and an upgrade of missiles with the adoption of new technologies are some of the key factors proliferating the demand for composites in missiles.
Ballistic missile: The growth engine
The missile composites market is segmented based on missile type as Ballistic Missile and Cruise Missile. Ballistic missile currently accounted for a larger share in the global missile composites market and is projected to maintain its dominance during the forecast period. Increasing procurement of ballistic missiles owing to their precision-striking and long-distance coverage capabilities coupled with the high usage of composite parts is driving the growth of the segment.
Dominance of: Rocket motor case and Carbon fiber composite
Based on the component type, the missile composites market is segmented by Rocket Motor Case, Radome, Propulsion System, Equipment Section, Airframe, and Others. Rocket motor case is projected to remain the most
dominant component in the global missile composites market during the forecast period. There are a wide array of factors bolstering the demand for composites in the rocket motor case including their design abilities to withstand high pressure and thermal loads for effective flight and propulsion system of missiles. Composite has been a perennial choice of material in rocket motor case for increasing the range and payload weight capacity.
Based on the material type, the global missile composites market is segmented as Ceramic Matrix Composites, Glass Fiber-Reinforced Composites, Carbon-Fiber Reinforced Composites, and others. Carbon fiber composite is projected to remain the most preferred material type in the global missile composites market during the forecast period. The material type is also likely to witness the highest growth during the same period. Carbon fiber offers many advantages over glass fiber including excellent temperature resistance, high strength-to-weight ratio, and low weight. All the major composite applications of missiles are mainly fabricated using carbon fiber composites.
A highly/moderately/fragment consolidated Market
The major composite part fabricators for missiles are Meggitt PLC, General Dynamics Corporation, Orbital ATK Inc., Kaman Aerospace Corporation, Matrix Composites, Inc., and San Diego Composites, Inc. These composite part fabricators supply the parts to the missile manufacturers, such as Raytheon, Northrop Grumman, and Lockheed Martin. The buyers of the missiles include defense departments, government bodies, navy forces, armed forces, and others.
Regional Hegemony of North America
Among regions, North America is expected to remain the largest market for missile composites during 2017-222. This high dominance of North America is primarily due to the high procurement of defense equipment including missiles and presence of a large number of manufacturers in the region. Asia-Pacific is likely to witness the highest growth rate during the same period (2017-2022), owing to rising defense budgets. China, India, and South Korea are likely to be the major growth engines of the missile composites market in Asia.
Comprehensive Market Coverage
Click Here for Other Reports from Stratview Research in the Aerospace & Defense Industry
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
Get a free sample of the report
An overview: The demand for composites in missiles
The missile composites market is likely to exhibit attractive growth opportunities in the entire ecosystem with an expected market size of US$ 141.8 million in 2022. High usage of composites in missiles, increasing procurement for missiles propelled by rising defense budget of the developing economies, and an upgrade of missiles with the adoption of new technologies are some of the key factors proliferating the demand for composites in missiles.
Ballistic missile: The growth engine
The missile composites market is segmented based on missile type as Ballistic Missile and Cruise Missile. Ballistic missile currently accounted for a larger share in the global missile composites market and is projected to maintain its dominance during the forecast period. Increasing procurement of ballistic missiles owing to their precision-striking and long-distance coverage capabilities coupled with the high usage of composite parts is driving the growth of the segment.
Dominance of: Rocket motor case and Carbon fiber composite
Based on the component type, the missile composites market is segmented by Rocket Motor Case, Radome, Propulsion System, Equipment Section, Airframe, and Others. Rocket motor case is projected to remain the most
dominant component in the global missile composites market during the forecast period. There are a wide array of factors bolstering the demand for composites in the rocket motor case including their design abilities to withstand high pressure and thermal loads for effective flight and propulsion system of missiles. Composite has been a perennial choice of material in rocket motor case for increasing the range and payload weight capacity.
Based on the material type, the global missile composites market is segmented as Ceramic Matrix Composites, Glass Fiber-Reinforced Composites, Carbon-Fiber Reinforced Composites, and others. Carbon fiber composite is projected to remain the most preferred material type in the global missile composites market during the forecast period. The material type is also likely to witness the highest growth during the same period. Carbon fiber offers many advantages over glass fiber including excellent temperature resistance, high strength-to-weight ratio, and low weight. All the major composite applications of missiles are mainly fabricated using carbon fiber composites.
A highly/moderately/fragment consolidated Market
The major composite part fabricators for missiles are Meggitt PLC, General Dynamics Corporation, Orbital ATK Inc., Kaman Aerospace Corporation, Matrix Composites, Inc., and San Diego Composites, Inc. These composite part fabricators supply the parts to the missile manufacturers, such as Raytheon, Northrop Grumman, and Lockheed Martin. The buyers of the missiles include defense departments, government bodies, navy forces, armed forces, and others.
Regional Hegemony of North America
Among regions, North America is expected to remain the largest market for missile composites during 2017-222. This high dominance of North America is primarily due to the high procurement of defense equipment including missiles and presence of a large number of manufacturers in the region. Asia-Pacific is likely to witness the highest growth rate during the same period (2017-2022), owing to rising defense budgets. China, India, and South Korea are likely to be the major growth engines of the missile composites market in Asia.
Comprehensive Market Coverage
Click Here for Other Reports from Stratview Research in the Aerospace & Defense Industry
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