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Global Ceramic Matrix Composites (CMC) Market 2019-2023 | 10% CAGR Projection Over the Next Five Years | Technavio

Technavio has announced its latest market research report titled global ceramic matrix composites (CMC) market 2019-2023. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--

 

The ceramic matrix composites market size is expected to post a CAGR of close to 10% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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The growth of the aerospace industry is expected to boost the growth of the ceramic matrix composites market. The increase in passenger traffic and cargo from countries such as Japan, Ireland, China, India, the US, the UK, and Germany, along with the economic growth and tourism are fueling the growth of the global aviation industry. This is leading to a significant increase in demand for ceramic matrix composites as they are used in the gas turbine engines of aircraft. They are also extensively used in the production of various other components such as combustor liners, blade, nozzles, and shrouds.

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As per Technavio, the rising investment in the defense industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Ceramic Matrix Composites Market: Rising Investment in the Defense Industry

Several governments around the world have started increasing their defense expenditure owing to the resurgence of global security threats. The terror attacks and bombings across the world have prompted countries to invest more in defense. This is resulting in the increasing adoption of new military aircraft and helicopters, which in turn is leading to an increase in demand for CMC for the production of engine components. Thus, the rising investment in defense from countries such as the US, Russia, China, Saudi Arabia, India, Japan, and France is expected to drive the CMC market growth during the forecast period.

“Apart from the rising investment in defense industry, other factors such as the growth of the renewables industry, and the increase in R&D activities will have a positive impact on the ceramic matrix composites market growth during the forecast period,says a senior analyst at Technavio.

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Ceramic Matrix Composites Market: Segmentation Analysis

This market research report segments the ceramic matrix composites market by application (aerospace and defense, automotive, power and energy, and others) and geographical regions (APAC, Europe, North America, South America, and MEA).

The North American region led the market in 2018, followed by Europe, APAC, MEA and South America respectively. The dominance of North America can be attributed to factors such as the increase in demand for CMC from aerospace and defense, and energy and power applications, and the introduction of new military aircraft.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191010005699/en/