Lucintel’s latest market report analyzed that Indian aerospace and defense composite provides attractive opportunities in civil aviation, military aviation and spacecraft application. The Indian aerospace and defense composite market is expected to reach $71.2 Million by 2027 with a CAGR of 13.1%. In this market, hand lay-up is the largest segment by process, whereas military aviation is largest by application. The use of nano technology material for the aerospace industry provides strategic growth path in this market.
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Based on process, the Indian aerospace and defense composite market is segmented into RTM/VARTM, filament winding, prepreg lay-up, hand lay-up, injection molding, compression molding and others. Lucintel forecasts that the hand lay-up is expected to witness the largest segment over the forecast period, and filament winding is expected to witness highest growth over the forecast period.
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The Indian aerospace and defense composite market is marked by the presence of several big and small players. Some of the prominent players offering Indian aerospace and defense composite include TATA Group, Hindustan Aeronautics, Kineco Kaman Composites, Taneja Aerospace and Aviation, and Adani Defence & Aerospace.
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