Market Trends of Aerospace And Defense Composites Industry
The Protective Equipment Segment is Projected to Witness Significant Growth During the Forecast Period
The increasing strength of military personnel across various countries is driving the demand for advanced variants of protective equipment. Typically made from high-strength, lightweight fibrous materials such as Kevlar and carbon fiber, military ballistic equipment is designed to withstand ballistic impacts, including bullet penetration, as well as protection against shrapnel from explosives or other fragmentation sources. Thermoset composites such as epoxy or phenolic resins reinforced with aramid fibers (e.g., Kevlar) are used in ballistic helmets and body armor, offering high impact resistance and protection.
The basic requirements for ballistic protection equipment are preventing a projectile from perforating, reducing blunt trauma to the soldiers' body caused by ballistic impact, being thermal and providing moisture comfort, and being lightweight and flexible to guarantee the wearer's mobility. For instance, in April 2023, DuPont introduced a new product: Kevlar EXO, made of aramid fibers. These fibers are a class of heat-resistant and robust synthetic fibers for military and aerospace applications. Kevlar EXO offers previously unavailable levels of ballistic protection, and due to its unmatched flexibility and lightness, it contours different curves and body lines. Such developments are expected to drive the market's growth in the coming years.
Asia-Pacific is Expected to Record the Fastest Growth During the Forecast Period
The aerospace and defense sector has witnessed tremendous growth in Asia-Pacific in recent years. Increasing air traffic, a rising focus on enhancing airport infrastructure, and acquiring new aircraft are expected to drive the market's growth. For instance, in March 2024, Korean Air Lines signed a contract with Airbus to procure 33 A350 wide-body jets in a deal valued at USD 13.7 billion, as the airline seeks to strengthen its long-haul fleet while it gradually retires older aircraft. The aircraft has Victrex PLC's polymer composites, such as PEEK thermoplastic, on the cabin doors. Moreover, a PEEK polymer pipe system for cargo drainage is available, along with TenCate Cetex RTL carbon-PPS thermoplastic laminates from Toray Advanced Composites (NL) that are used for clips/cleats, access covers, keel beam ribs, and cargo shear webs.
Additionally, the rising focus on enhancing defense manufacturing capabilities and increasing defense expenditure from India, China, South Korea, and Japan creates demand for composites, which drives the market's growth. The Stockholm International Peace Research Institute (SIPRI) report stated that China and India were the second and fourth largest defense spenders in 2023, with a defense budget of USD 296 billion and USD 83.6 billion, respectively. Moreover, the Indian government announced its plan to replace six decades-old Avro aircraft with the C-295MW transport aircraft from Airbus Defence, placing an order for 56 aircraft. The engine of these aircraft uses materials such as ceramic matrix composites. Such developments are expected to drive the market's growth in the coming years.
