The Global Carbon Fiber Reinforced Plastic (CFRP) Market is valued at $11.04 billion in 2017 and it is estimated to surpass $15.24 billion with a CAGR of 8.43% during 2018 to 2023. Defense sector generates the maximum revenue of $2.46 billion with a CAGR of 8.4% compared to the others. Use of composite materials is extensive in Europe than in the United States. However, industry insiders estimate CFRP composites will certainly be used in an ever increasing collection of applications in this country, particularly in the transportation industries.