Unmanned Composite Materials Market to Undertake Strapping Growth During 2024
The
lucrative demand for composite materials for unmanned systems is
underpinned by the attractive performance profile of these structures
in meeting the various functional engineering objectives. The
splendid combination of mechanical properties of composite materials
such as light weight and durability, apart from their easy
maintenance and cost-effectiveness in manufacturing, is a crucial
factor accounting for their potential attracting demand in various
application areas.
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Report Overview @
A
report by Transparency Market Research (TMR) offers a critical
assessment of such factors and trends impacting the current landscape
and emerging trajectories of the market evolution. The report is
titled “Unmanned Composite Materials Market - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024”.
The study takes a closer look at emerging lucrative avenues and key
investment pockets in major regions.
The
rising demand for lightweight and electrically-conducive composites
in unmanned aerial vehicle (UAV) in several countries is a notable
factor boosting the unmanned composite materials market. The superior
properties of polymer composites over non-composites accounts for the
extensive uptake of these in manufacturing UAVs and target drones
used in military applications.
The
demand for next-generation technologies in the aviation sector for
expanding the applications of UAVs, particularly in the military
sector, in developing and developed regions is a notable factor
catalyzing the expansion of the unmanned composite materials market.
The burgeoning spending on military technologies in numerous
developed nations is bolstering the demand for UAV, hence fueling the
uptake of unmanned composite materials. The global demand is
increasingly benefitting from the rising application of target
drones, radar decoys, and combat aerial vehicles in warfare in
several developing and developed nations.
On
the geographical front, some of the potentially lucrative regional
markets for unmanned composite materials could be Europe, North
America, and Asia Pacific. The sizeable investments by defense sector
in the U.S. to bolster their warfare systems has fortified the demand
for UAVs and hence boosting the overall demand. The growing
production of dual-use UAV technologies for military as well
non-military applications, especially in numerous economies of
Europe, are boosting the unmanned composite materials market.
The
rising popularity of UAV aircrafts and unmanned aerostats in
developing regions, such as that of Asia Pacific, is bolstering the
usage of composite materials. However, the high cost of UAVs and
other unmanned vehicles can be a crucial impediment to their demand.
Nevertheless, constant advances in composite manufacturing
technologies are expected to bring down the cost. Moreover,
advancements in reinforcement processes are expected to boost the
market over the forecast period.
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Some
of the prominent players operating in the unmanned composite
materials are Kratos Defense & Security Solutions, Inc.,
Gulfstream Aerospace & Aerovironment, Northrop Grumman, Owens
Corning Corporation, Teijin Limited, Cytec Industries, Hexcel
Corporations, Toray Industries, and Royal TenCate N.V.
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