Unmanned Composites Industry Regional Share, Product by Type -2030

Unmanned Composites Market Size was valued at USD 1.09 billion in 2022. The unmanned composites market industry is projected to grow from USD 1.2 Billion in 2023 to USD 3.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 16.21% during the forecast period (2023 - 2030).

Unmanned Composites Market Overview:

Unmanned Composites Market Size was valued at USD 1.09 billion in 2022. The unmanned composites market industry is projected to grow from USD 1.2 Billion in 2023 to USD 3.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 16.21% during the forecast period (2023 - 2030).

The reliability and durability of composite materials have significantly contributed to the expansion of the unmanned composites industry. 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 industry.

However, issues related to recyclability and lack of standardization in composite materials might hamper the Unmanned Composites Market Growth.

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.

Key Players:

The key players of Unmanned Composites Industry are Hexcel Corporation (US), Toray Industries, Inc. (Japan), Stratasys Ltd. (US), Teledyne Technologies Incorporated. (US), Gurit (Switzerland), Solvay (Belgium), Owens-Corning (US), Lavoisier Composites (France), Owens-Corning (US), Mitsubishi Rayon Co. Ltd. (Japan)

Market Segmentation:

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.

Regional Analysis:

North America dominated the global unmanned Composites Industry  in 2019 due to the presence of prominent companies such as Hexcel Corporation and Teledyne Technologies Incorporated.

The increasing investment in urban air mobility solutions and autonomous ships by the companies based in Europe is expected to drive the growth of the regional unmanned composites industry.

The market in this region is projected to grow at the highest CAGR during the forecast period owing to increasing military expenditure of countries such as China and India.

The presence of prominent airlines such as the Emirates Group and Etihad Airways is expected to drive the growth of the unmanned composites industry in the region.

Growing demand for unmanned systems by the commercial sector in countries such as Brazil and South Africa are expected to increase the demand for unmanned Composites in the region.

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Jaaza Lee

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