May 10, 2019   SOURCE: BusinessWire

Global Unmanned Composites Market 2018-2019 & 2025 - Focus on UAV, USV, UGV, AUV, ROV, Passenger Drones, & Autonomous Ships - ResearchAndMarkets.com

The "Unmanned Composites Market by Application (Interior, Exterior), Platform (UAV, USV, UGV, AUV, ROV, Passenger Drones, Autonomous Ships), Type (CFRP, GFRP, AFRP, BFRP), Subtype (Fiber, Matrix) and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The unmanned composites market size is projected to grow from USD 1.0 billion in 2018 to USD 2.7 billion by 2025, at a CAGR of 15.52% during the forecast period.

The market growth is driven by factors such as the rise in demand for composite materials to provide lightweight structures, improved performance of unmanned systems, and an increase in the deliveries of unmanned systems. Whereas, the lack of standardization of unmanned composites and high cost of manufacturing are limiting the overall growth of the market.

By type, CFRP composite market estimated to lead the unmanned composites market in 2019.

By type, the Carbon Fiber Reinforced Polymer (CFRP) composites market is estimated to account for the largest share of the unmanned composites market in 2019. CFRP is used to address the basic requirements, such as lightweight, cost-effectiveness, and mass-production, of unmanned system components. Also, a decrease in the cost of aerospace grade carbon fibers has bolstered the demand for carbon fiber reinforced polymer for use in UAVs. These are major factors driving the CFRP segment.

By application, exterior segment estimated to account for the major market share in 2019.

By application, the exterior segment is estimated to account for a larger share of the unmanned composites market in 2019. There has been an increase in demand for composite materials from unmanned system manufacturers. Earlier exterior structures made of legacy materials are likely to get replaced by composites materials. OEMs prefer composite materials, such as carbon fiber, for the manufacturing of airframe structures in UAVs, UGVs, and USVs, which is, in turn, driving the demand for unmanned composites.

North America estimated to account for the largest share of the unmanned composites market in 2019.

North America is estimated to account for the largest share of the unmanned composites market in 2019. The region's leadership is attributed to the rise in demand by OEMs for innovative materials that are non-corrosive and lightweight. The growing market for UAVs within the region is also projected to drive the demand for composite materials, thereby supporting the growth of the unmanned composites market in North America.

Market Dynamics

Drivers

  • Increasing Need for Weight Reduction in Unmanned Systems
  • Improved Performance of Unmanned Systems Using Composite Materials
  • Increased Reliability & Durability of Composite Materials

Restraints

  • High Manufacturing Cost of Unmanned Systems Using Composite Materials
  • Lack of Standardization in Composite Materials

Opportunities

  • Growing Demand for Unmanned Systems in the Commercial Sector
  • Increased Spending By Manufacturers of Unmanned Systems in Composite Materials

Challenges

  • Recyclability of Composite Materials
  • High Repairing Cost of Composite Materials

Key players in the unmanned composites market include

  • Carbon By Design
  • Gurit
  • Hexcel Corporation
  • Materion Corporation
  • Mitsubishi Rayon Co. Ltd.
  • Owens Corning
  • Quantum Composites
  • Renegade Materials Corporation
  • Solvay
  • Stratasys Ltd.
  • Teijin Limited
  • Teledyne
  • Toray Industries, Inc.
  • Unitech Aerospace

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