Aerospace And Defense Composites Market Size (2024 - 2029)

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).