Missile Composites Market Forecasted to Reach US$ 141.8 million in 2022

Stratview Research has launched a research report on Missile Composites Market. The objective of this report is to identify the Trend, Forecast, Competitive Analysis, and Growth Opportunity of Missile Composites Market from 2017 to 2022.

This 159-page report is segmented in five ways to provide a 360- degree holistic view. The segments are –
• by Missile Type (Ballistic Missile, Cruise Missile, and Others)
• by Component Type (Rocket Motor Case, Radome, and Others)
• by Material Type (Ceramic Matrix Composites, and Others)
• by Range Type (Short, Medium, Long Range)
• and by Region
o North America
o Europe
o Asia-Pacific
o Rest of the World

Stratview Research, has presented the study of Missile Composites Market over the trend period of 2011 to 2018 and forecast period of 2019 to 2022. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the 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.

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Increasing procurement for missiles propelled by rising defense budget

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.

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 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.

Rocket motor case to remain the most dominant component

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 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.

Carbon fiber composite to remain the most preferred material

Based on the material type, the 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 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.

North America to remain the largest market

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.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
● Market structure: Overview, industry life cycle analysis, supply chain analysis
● Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
● Market trend and forecast analysis
● Market segment trend and forecast
● Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
● Attractive market segments and associated growth opportunities
● Emerging trends
● Strategic growth opportunities for the existing and new players
● Key success factors.
● Research Methodology

This report studies the Missile Composites Market, keeping in mind the interest of all the stakeholders across the value chain. The rich quality of insights is outcome of -
o Extensive secondary research,
o Rigorous primary interviews with more than 15 industry stakeholders across the value chain.
o Validation and triangulation of data with Stratview Research’s internal database and statistical tools.
o More than 500 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

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