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Unmanned Composites Global Market Exhibit a Remarkable CAGR of 14.5% and is Expected to Reach $2.94 Billion By 2028 | Solvay S.A., Dupont Inc., SGL Carbon SE, Stratasys Ltd., Gurit Holding AG
Unmanned Composites Market
As per the report, the unmanned composites market size has grown rapidly in recent years. It will grow from $1.5 billion in 2023 to $1.71 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The unmanned composites market size is expected to see rapid growth in the next few years. It will grow to $2.94 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%.
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Surging Demand For Unmanned Aerial Vehicles Drives Growth In The Unmanned Composites Market
The increasing demand for unmanned aerial vehicles is expected to propel the growth of the unmanned composites market going forward. An unmanned aerial vehicle (UAV), commonly known as a drone, is an aircraft that works without a human operator or pilot. A UAV can fly autonomously or be remotely controlled. Drones can gain more excellent performance, larger payload capacities, longer flight endurance, superior aerodynamics, and enhanced durability by harnessing the benefits of unmanned composites. For instance, in June 2022, according to the Federal Aviation Administration, a US-based government agency, there will be 828,000 commercial drones (drones used in association with businesses) and 1.48 million recreational drones (drones used for personal fun) by 2024. Therefore, the increasing demand for unmanned aerial vehicles is driving the growth of the unmanned composites market.
Breakthrough Innovation In The Unmanned Composites Market
Product innovations are a key trend gaining popularity in the unmanned composites market. Major companies operating in the unmanned composites market are focused on innovating new products to sustain their position in the market. For instance, in September 2022, Xenia Srl, an Italy-based plastic fabrication company, launched XECARB ST, a new family of super tough carbon fiber-reinforced composites. It identified a need for higher impact resistance by combining advanced lightweight with superior impact strength. Xenia's XECARB range's mechanical qualities are built upon in XECARB ST, which features significantly enhanced notched impact resistance, low-temperature flexibility, and tensile elongation at break. XECARB ST is believed to give more lightweight options due to its slightly reduced density.
The unmanned composites market covered in this report is segmented -
1) By Type: Carbon Fiber Reinforced Polymer (CFRP), Glass Fiber Reinforced Polymer (GFRP), Aramid Fiber Reinforced Polymer (AFRP), Boron Fiber Reinforced Polymer (BFRP)
2) By Platform: Unmanned Aerial Vehicles, Unmanned Ground Vehicles, Unmanned Surface Vehicles, Autonomous Underwater Vehicles, Remotely Operated Vehicles, Autonomous Ship, Passenger Drone
3) By Application: Interior, Exterior
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Major companies operating in the unmanned composites market report are Mitsubishi Rayon, The Boeing Company, Lockheed Martin, Mitsubishi Chemical Corporation, NVIDIA, Evonic Industries AG, Toray Industries Inc., Solvay S.A., Dupont Inc., Owens Corning, Formosa Plastics Corporation, Teijin Limited, Elbit Systems, Teledyne Technologies Incorporated, Leonardo DRS, Aerojet Rocketdyne, Hexcel Corporation, Materion Corporation, SGL Carbon SE, Stratasys Ltd., Gurit Holding AG, AeroVironment, ZOLTEK Corp., Unitech Aerospace, Cytec Engineered Materials Inc., Quantum Composites Inc., DowAksa Advanced Composites Holdings B.V., Tencate Advanced Composites, Renegade Materials Corporation.
Contents of the report:
1. Executive Summary
2. Unmanned Composites Market Report Structure
3. Unmanned Composites Market Trends And Strategies
4. Unmanned Composites Market - Macro Economic Scenario
5. Unmanned Composites Market Size And Growth
…..
27. Unmanned Composites Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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