DALLAS, Oct. 24, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the composite materials in the global defense industry looks good with opportunities in military aircraft, naval systems, land vehicle, body armor, arms & ammunition, and military hard wall shelter. The composite materials market in the global defense industry is expected to reach an estimated $670 million by 2023 and is forecast to grow at a CAGR of 1.8% from 2018 to 2023.The major growth drivers for this market are increasing use of lightweight and high-performance materials in defense programs and growing need for lightweight materials in ballistic protection solutions. 

Browse 103 market data tables and 147 figures spread through 203 pages and in-depth TOC on “Composites in the Global Defense Industry" at https://www.lucintel.com/composites-in-global-defense-industry.aspx

In this market, military aircraft, naval systems, land vehicle, body armor, arms and ammunition and military hard wall shelter are used for composite materials in defense industry manufacturing for market. Lucintel forecasts that the military aircraft is expected to remain the largest segment, while body armor is expected to witness the highest growth during the forecast period supported by the growing demand for lightweight and high strength ballistic protection materials. Download Free PDF Brochure @ https://www.lucintel.com/composites-in-global-defense-industry.aspx#/

North America is expected to remain the largest market by value and volume. ROW is expected to witness the highest growth over the forecast period because of growth of new defense programs in the region. Pre-Purchase Query click  https://www.lucintel.com/composites-in-global-defense-industry.aspx#/

Emerging trends, which have a direct impact on the dynamics for composites in defense industry, include the adoption of nano-technology in ballistic protection materials and growing focus on stealth technology for military aircrafts. Cytec-Solvay, Hexcel, Tencate, Polystrand, and Toray are among the major suppliers of composite materials market in the global defense industry.

Lucintel has analyzed growth opportunities in this industry by market segments, reinforcement, resin, and region has compiled a comprehensive research report entitled “Growth Opportunities in the Composites in the Global Defense Industry 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions.

For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com.