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Ms Foster was speaking at the 2009 International Conference for Manufacturing of Advanced Composites (ICMAC) in Belfast.
The two-day event, sponsored by Invest NI and Bombardier Aerospace, is showcasing Northern Ireland's strength and vibrancy in this high-tech niche sector, to an international audience.
Composite materials, such as carbon fibre, offer a high-strength, lightweight alternative to metals. These advantages are seeing composites become increasingly important to the aircraft, automotive, construction, medical and other manufacturing sectors.
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Around 100 composite materials experts from local and international industry and academia are attending the event, which includes presentations and interactive workshops from leading figures in the field from USA, France, United Kingdom and Republic of Ireland.
Speaking at the event in Belfast's Waterfront Hall, the Minister said: "Northern Ireland has been at the forefront of research and innovation in composite materials for over 20 years. From an early stage, experts here recognised the significant global market opportunities that a viable, and often superior, alternative to traditional metals would present.
"Today, composites are a key element in major local manufacturing and design ventures, such as aerospace giant Bombardier and aircraft seating manufacturer BE Aerospace. Firms such as aerospace consultancy BASE and manufacturers, like Denroy Plastics, Creative Composites and MC Gill Europe Ltd, also have composites at the heart of their operations, all underpinned by our world-renowned university expertise."
ICMAC 2009 has been organised by the British Composites Society, a division of the Institute of Minerals, Materials and Mining.
(PR/JM)
