June 2022, Market Research Future Published a Report on the Global Unmanned Composites Market.
Market Forecast
Global Unmanned Composites Market is projected to be valued at USD 3.1 billion by 2030, registering a CAGR of 16.21% from 2023 to 2030. The reliability and durability of composite materials have significantly contributed to the expansion of the unmanned composites market. Growing competition owing to the presence of several players in the market has led unmanned composites providers to focus on innovation. Furthermore, increasing mergers & acquisitions undertaken by companies is also expected to drive market growth during the review period. For example, in July 2018, Teijin Limited acquired J.H. Ziegler GmbH, which enabled the company to strengthen its presence in the global unmanned composites market.
However, issues related to recyclability and lack of standardization in composite materials might hamper the growth of the market.
Market USP
The increasing use of composite materials to increase the durability and reliability of unmanned systems and increasing demand for lightweight unmanned systems among end-users are expected to drive the growth of the market.
Growth Opportunities in the Market
Carbon fiber reinforced polymer (CFRP) segment to register the highest CAGR: The segment is expected to register the highest CAGR during the study period. There is an increase in demand for lightweight and cost-effective unmanned system components from OEMs around the world. The carbon fiber is a combination of carbon atoms that are aligned parallel to the main axis of the filament, which provides durability to the structure and is convenient to use in all the commercial applications. Such factors are driving the growth of the CFRP segment during the forecast period.
The exterior segment is expected to be the fastest-growing during the forecasted period: The exterior segment is projected to witness the higher CAGR during the study period. The demand for composite materials from unmanned system manufacturers has been increasing significantly. Exterior structures made using legacy materials are likely to be replaced by composite materials. OEMs prefer using composite materials, such as carbon fiber, for manufacturing airframe structures in UAVs, UGVs, and USVs, which is, in turn, is driving the growth of the segment.
Unmanned Aerial Vehicle (UAV) segment is expected to dominate the market: The UAV segment dominated the market in 2019. UAVs, also commonly known as drones, are widely used in various military missions. The rise in the demand for military UAVs for applications such as aerial surveillance, law enforcement, search and rescue, armed attacks, surveillance, and maritime patrol is expected to drive the growth of the segment. These UAVs use special composites like boron fiber and aramid fiber, due to which the demand for composites is increasing.
Key Players
Other Prominent Players