Lucintel Forecasts Composites in the Global Defense Industry to Reach $3.0 billion by 2030

A recent study projects that the composites market in the global defense industry will increase to an estimated $3.0 billion by 2030 from $1.4 billion in 2023, with a compound annual growth rate (CAGR) of 10.0% from 2024 to 2030. The market’s growth is driven by the rising use of lightweight and high-performance materials in defense programs and the increasing need for lightweight materials in ballistic protection solutions.

The report contains 83 figures/charts and 76 tables across 175 pages, offering insights into trends, opportunities, and forecasts for composites in the global defense industry by application (military aircraft, naval systems, land vehicles, arms and ammunition, body armor, and military hard wall shelters), reinforcement type (carbon composites, glass composites, aramid composites, and ceramic composites), resin type (thermoset composites, thermoplastic composites, and ceramic matrix), and region (North America, Europe, Asia Pacific, and Rest of the World).

Lucintel predicts that military aircraft will remain the largest segment, while body armor is expected to experience the highest growth, driven by the demand for lightweight and high-strength ballistic protection materials. Carbon fiber composite is projected to be the largest segment, with aramid composite expected to see significant growth due to its high-temperature performance, wear resistance, and compressive strength.

North America is anticipated to maintain its position as the largest market by value and volume, with the Asia Pacific region expected to witness the highest growth due to the emergence of new defense programs. Key players in the global defense industry composites market are implementing various growth strategies such as new product launches, expansions, mergers and acquisitions, partnerships, agreements, and collaborations to strengthen their market presence.

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