Albany, NY -- (SBWIRE) -- 03/25/2019 -- 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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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.