The unmanned composites market is estimated to be USD 1.1 billion in 2019 and is projected to reach USD 2.7 billion by 2025, at a CAGR of 15.52% from 2019 to 2025. The factors expected to fuel the market growth include the increasing need for weight reduction in unmanned systems and increased reliability and durability of composite materials.
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Factors such as increased reliability and durability of composites and rise in demand composite materials to provide lightweight structures in unmanned systems are expected to fuel the growth of the unmanned composites market.
Based on platform, the Autonomous Underwater Vehicle (AUV) composite segment is expected to lead the unmanned composites market during the forecast period. This segment is projected to grow at the highest CAGR during the forecast period. AUV is a programmable autonomous robot utilized for underwater survey missions that include detecting and mapping submerged wrecks, rocks, and obstructions.
Based on type, the unmanned Carbon Fiber Reinforced Polymer (CFRP) composites segment of the unmanned composites market is expected to grow at the highest CAGR during the forecast period. There is an increase in demand for lightweight and cost-effective unmanned system components from OEMs around the world. The carbon fiber is a combination of carbon atoms that are aligned parallel to the main axis of the filament, which provides durability to the structure and is convenient to use for all commercial applications. These factors are driving the growth of the CFRP segment.
Europe is estimated to lead the unmanned composites market during the forecast period. The market growth in Europe is supported by an increase in deliveries of unmanned systems and a rise in demand for composite materials to provide a lightweight structure to unmanned systems. Also, the huge presence of composite manufacturers providing composites to the manufacturers of unmanned systems is driving the demand for unmanned composites in Europe.
Some of the major players in the unmanned composites market include Gurit (Switzerland), Hexcel Corporation (US), Materion Corporation (US), Mitsubishi Rayon (Japan), Owens Corning (US), Renegade Materials Corporation (US), Solvay (Belgium), Stratasys (US), Teijin Limited (Japan), Teledyne (US), and Toray Industries (Japan).
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