Missile Composites Market Poised to Garner Maximum Revenues by 2026

Global Missile Composites Market Segmentation:

Based on missile, the missile composites market can be segmented into ballistic and cruise missile. In terms of fiber, the missile composites market can be classified in to glass fiber and carbon fiber. Based on component, the market can be classified into rocket motor case, propulsion system, radomes, equipment section, airframe, and others. The rocket motor case segment held a major share of the global missile composites market in 2017. This is due to the design abilities of composites to withstand high pressure and thermal loads for effective flight and propulsion systems of missiles. Composite has been a perfect choice of material in rocket motor cases for increasing the range and payload weight capacity of missiles. In terms of composite, the missile composites market can be divided into ceramic matrix composites, carbon fiber reinforced composites, advanced composites, and others.

In missiles, composites were first used in fiberglass-epoxy radomes of subsonic missiles and filament-wound rocket motor cases of strategic missiles. Missile composites offer flexibility in design to manufacturers to develop complicated parts with great shapes. Composite materials are efficient and the correct choice of materials, which can satisfy all the demands of the missile industry. Recent advancements and developments in composite technology using fiber-reinforced polymer composites have had a significant effect on the missile industry.

Global Missile Composites Market: Regional Outlook

In terms of region, global missile composites market can be segmented into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe constituted a prominent market share of the global missile composites market in 2017. Europe and North America cumulatively accounted for more than 60% share of the global missile composites market in 2017. The market in Asia Pacific is estimated to expand at a rapid pace during forecast period, in terms of both value and volume. This is owing to expansion in the missile industry in the region. China, India, and Japan are prominent countries of the missile composites market in Asia Pacific. The market in Europe is anticipated to see considerable growth in the coming years. An increase in demand for missile composites in Europe can be attributed to the rapidly growing concern about national safety. North America is an emerging region of the missile composites market, led by the presence of many manufacturers in the region. The U.S. is a major country of the missile composites market in North America. Demand for missile composites is expected to increase in the U.S. and Canada during the forecast period, owing to a rise in demand for developing advanced missiles. The missile composites market in North America, Europe, and Asia Pacific is estimated to expand at a rapid pace, while that in Latin America and Middle East & Africa is projected to expand at a moderate pace during the forecast period.

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Global Missile Composites Market: Key Players

Prominent companies operating in the global missile composites market include Lockheed Martin Space Systems, General Dynamics Ordnance and Tactical Systems, San Diego Composites, Inc.(SDC),  MBDA, and Airspeed Pty Ltd. In October 2015, SDC was presented a Special Commendation from NASA for its contributions to the development of the 3D-MAT material used on Orion spacecraft. The 3D-MAT material is an advanced TPS that is an enabling technology for future exploratory space missions.

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