Unmanned Composites Market Poised for Rapid Growth, Expected to Reach $2.94 Billion by 2028

The Business Research Company's Unmanned Composites Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, June 28, 2024 /EINPresswire.com/ -- The global unmanned composites market, which encompasses fibrous materials embedded in a resin matrix used primarily in unmanned aircraft or drones, has seen rapid expansion in recent years. Starting from $1.5 billion in 2023, the market is projected to grow to $1.71 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 13.8%. This growth can be attributed to substantial research and development funding, increasing demands from aerospace and defense sectors, and the burgeoning commercial drone market, alongside advancements in telecommunications and green technology.
Rising Demand for Unmanned Aerial Vehicles Drives Market Growth

The escalating demand for unmanned aerial vehicles (UAVs) is a primary driver propelling the unmanned composites market forward. UAVs, commonly known as drones, benefit significantly from composite materials due to their lightweight nature and high strength. These materials enable drones to achieve greater payload capacities, extended flight endurance, improved aerodynamics, and enhanced durability. By 2024, the Federal Aviation Administration anticipates a total of 828,000 commercial drones and 1.48 million recreational drones, underscoring the sector's growth and its impact on the unmanned composites market.

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Key Players and Market Trends

Major players such as Mitsubishi Rayon, Boeing, Lockheed Martin, and NVIDIA are at the forefront of the unmanned composites market. These companies focus on innovation, leveraging composite materials to enhance drone capabilities, including improved mechanical properties and reduced weight. Strategic collaborations, such as Carborundum Universal Ltd.'s partnership with IdeaForge Technology to develop nanomaterial-reinforced drones, highlight the industry's commitment to technological advancement and performance optimization.
Segments:

Type: Carbon Fiber Reinforced Polymer (CFRP), Glass Fiber Reinforced Polymer (GFRP), Aramid Fiber Reinforced Polymer (AFRP), Boron Fiber Reinforced Polymer (BFRP)
Platform: Unmanned Aerial Vehicles, Unmanned Ground Vehicles, Unmanned Surface Vehicles, Autonomous Underwater Vehicles, Remotely Operated Vehicles, Autonomous Ship, Passenger Drone
Application: Interior, Exterior

Geographical Insights: Asia-Pacific Leading Growth

North America dominated the unmanned composites market in 2023, driven by extensive applications in defense and commercial sectors. However, Asia-Pacific is poised to emerge as the fastest-growing region, fueled by technological advancements, increasing investments in automation, and rising demand for UAVs across diverse applications.

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Unmanned Composites Global Market Report 2024 from TBRC covers the following information:

Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Unmanned Composites Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on unmanned composites market size, unmanned composites market drivers and trends, unmanned composites market major players, competitors' revenues, market positioning, and market growth across geographies. The unmanned composites market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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