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composites market 2020 Classification, Application, Industry Chain Overview, SWOT Analysis and Competitive Landscape To 2027
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Market Research Future (MRFR) studied the global unmanned composites market 2021 for the review tenure till 2028. As per MRFR study, the global unmanned composites market is expected to register 16.21% CAGR over the analysis period. By 2028, the global unmanned composites market is expected to earn USD 3,140 Mn.
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Market Drivers and Restrains
The growing utility of composite materials to boost the durability and reliability of unmanned systems can underpin the expansion of the market. The upscaling demand for lightweight unmanned systems by high end-users is expected to boost the momentum of the global unmanned composites market in the near future. The increase in commercial and military applications of unmanned systems can also drive the market in the near future. High performance efficacy of unmanned systems on using composite materials is contributing to the increase in investment made by manufacturers in unmanned composites to earn high revenue in the years to come. On the contrary, problems with recyclability of composite materials and lack of standardization in the production of composite materials are causes that can impede the unmanned composites market in the years to come. In addition, increase in repairing and manufacturing expenses of composite materials can also hinder the rise of the unmanned composite market.
Segmentation Analysis of Unmanned Composites Market
The segment study of the unmanned composites market is based on platform, type, and application.
The type-based segments of the unmanned composites market are Glass Fiber Reinforced Polymer (GFRP), Carbon Fiber Reinforced Polymer (CFRP), Aramid Fiber Reinforced Polymer (AFRP), and Boron Fiber Reinforced Polymer (BFRP). The Carbon Fiber Reinforced Polymer (CFRP) segment is expected to favor the unmanned composites market over the review period. The Glass Fiber Reinforced Polymer (GFRP) segment is likely to register a notable CAGR over the review tenure due to the surge in demand for GFRP for manufacturing navy, aircraft, and other military vehicle structures. The Aramid Fiber Reinforced Polymer (AFRP) segment is likely to grow at high pace owing to advantages, such as; toughness and flexibility, offered by AFRP.
The application-based segments of the unmanned composites market are exterior and interior. The interior segment is expected to dominate the unmanned composites market by 2028. The surge in the utility of lightweight unmanned systems can drive the interior segment in the years to come. In the case of exterior unmanned composites that offer benefits, such as; reduced maintenance cost, better durability, lightweight, and reliability can drive the exterior segment of the unmanned composite market at the highest in the analysis period.
The platform-based segments of the unmanned composite market are Unmanned Aerial Vehicle (UAV), Unmanned Surface Vehicle (USV), Unmanned Ground Vehicle (UGV), Remotely Operated Vehicle (ROV), Autonomous Underwater Vehicle (AUV), Passenger Drone, and Autonomous Ship.
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Regional Study of Unmanned Composites Market
In North America, the unmanned composites market is expected to earn decent revenue by 2028. The presence of numerous prominent companies in the region, such as; Teledyne Technologies Incorporated and Hexcel Corporation, are responsible for earning high revenue through pushing the business of unmanned composite products.
In Europe, the surge in investment made in autonomous ships and urban air mobility solutions by companies based in Europe can favor the unmanned composites market in the near future.
In Asia Pacific, the market of unmanned composites is likely to earn substantial revenue at the highest CAGR in the analysis period due to increase in military expenditure for different countries, namely; India and China.
In Middle East Asia and Africa, the presence of several reputed airlines, such as; Etihad Airways and the Emirates Group can benefit the unmanned composites market growth over the analysis tenure.
The rapid expansion of the unmanned composites market in the Rest of the World can be attributed to the growing demand for unmanned systems in countries, such as; Brazil and South Africa by the commercial sector can promote the expansion of the market in the years to come. In addition, the surge in demand for unmanned composites by these regions can favor the market upsurge.
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Materion Corporation (US), Hexcel Corporation (US), Stratasys Ltd. (US), Toray Industries, Inc. (Japan), Teledyne Technologies Incorporated. (US), Solvay (Belgium), Gurit (Switzerland), Unitech Composites Inc. (US), Owens-Corning (US), Owens-Corning (US), Lavoisier Composites (France), Mitsubishi Rayon Co. Ltd. (Japan), Carbon by Design (US), Renegade Materials Corporation (US), Teijin Limited (Japan), and Quantum Composites Inc. (US) are some reputed companies in the unmanned composites market that are listed by MRFR.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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