Acumen research and consulting estimates that the global aerospace composites market is anticipated to reach market size of around US$ 12,700 Mn by 2027 and is anticipated to grow at a CAGR of around 9% in terms of revenue during the forecast period 2020 – 2027. In the aircraft industry, composite material is used for various purposes. The advantage of composites is that they preserve their identities and do not integrate completely. If combined, the materials create a more structurally stable composite material for airspace components. Composites used in the aerospace industry are made up of, or blends of, fiberglass fibre, fiber reinforced matrix structures. In different structures, including the wings, the interior and the fuselage, aerospace composites are used as they can withstand extreme operating pressures, including high temperatures , high stresses, shocks and impact loads.
Commercial aircraft associated with defense and military activities mainly driven the aerospace composite market. In various application areas, such as passengers and plenums, cargo panels, galleys, winglets deck-panels, cabin ducts, overhead compartments, toilets, bars, deck panels, clothing, and fins, bracks, trailing edges, and gear-doors, among others, air composites are used. Aerospace composites are also used in the field of air traffic. The composites in aerospace must deal with the dust, corrosion and fire rates regulators of the materials. Aerospace composites are being used in military and defense applications in the manufacture of components required for helicopters, launches and aircrafts, and others. Compounds for airspace aid components in the management of wear and tear, fire and severe weather. Aerospace composites also help components enhance aircraft performance. In the aerospace industry, maintenance, repair and overhaul are a major segment and a major opportunity for the airspace composites during the forecast period. However, higher prices and issues with recyclability for the composites of aerospace are expected to hinder market growth in the near future.
The market research study on “Aerospace Composites Market (By Fiber Type: Glass Fiber, Carbon Fiber, Ceramic Fiber, Other Fiber Types; By Application: Military, Commercial, General Aviation, Space) - Global Industry, Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global aerospace composites market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global aerospace composites market are fiber type, application, and major geographic regions. The aerospace composites market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
North America aerospace composites markets have expanded primarily as a result of mass aerospace product manufacturing in the region. As carbon fiber composites are increasingly needed, most companies in North America and Europe focus on developing their carbon fibers composites plants. In Europe, the aerospace sector, high-speed train competition and other travel modes are driven by the aerospace composites market. The region development of the aerospace composites market has risen over the past few years as air passenger traffic and the growing world aircraft leaders in the Asia Pacific. In Latin America, the market is projected to grow rapidly as Brazil's low-cost production and demand expand. The emergence of Embraer, one of the leading rivals, will also boost the region's market growth. The Middle East and Africa will also grow significantly due to the involvement of suppliers in aircraft and the growing amount in aircraft repairs, repair and operations in the area. In the same way, during the projected era Central Europe and Russia will have a strong rate of growth for the aerospace composite market.
Major players included in this report are Dupont, Solvay, Hexcel, Gurit Holding Co., Owens Corning, Kaneka Corporation, Axioms Materials, Royal Tencate, Argosy International, Toray Industries Inc., BASF SE, and other. The global aerospace composites market is highly competitive and numerous approaches, including introducing new products, extensions, alliances, joint ventures, collaborations, acquisitions and other companies, have been used by major players to expand their position in this industry.
The global aerospace composites market is segmented as below:
Aerospace Composites Market By Fiber Type
Other Fiber Types
Aerospace Composites Market By Application
Aerospace Composites Market By Geography
Middle East & Africa