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Aerospace Composites Market Analysis - Global Industry Size, Share, Trends and Forecast 2022 - 2030

Category : Aerospace and Defence | Published at : April-2021 | Delivery Format : PDF | Status: Published | Pages : 190

The market for aerospace composites is expected to grow at a CAGR of around 8.8% from 2021 to 2028 and expected to reach the market value of around US$ 29.7 Bn by 2028.

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 fiber, 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. Basically, composites in aerospace are designed to deal with the dust, corrosion, and fire rate regulators of the materials.

Report coverage

Market Aerospace Composites Market 
Analysis Period 2016 - 2026
Base Year 2017
Forecast Data 2019 - 2026
Segments Covered By Fiber Type, By Application and By Geography
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled Dupont, Solvay, Hexcel, Gurit Holding Co., Owens Corning, Kaneka Corporation, Axioms Materials, Royal Tencate, Argosy International, Toray Industries Inc., BASF SE, and others.
Report Coverage
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Customization Scope 10 hrs of free customization and expert consultation

 

Market Dynamics

Commercial aircraft associated with defense and military activities mainly driven the aerospace composite market. Air composites are used 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. Aerospace composites are also used in the field of air traffic. Aerospace composites are being used in military and defense applications for the manufacturing of components required in helicopters, launches and aircraft, 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 forecast period.

Covid-19 Impact on Global Aerospace Composites Market

Covid-19 has slowed down the growth of the aerospace composites market worldwide particularly in the 2nd and 3rd quarter of 2020. The disrupted supply chain for the period due to lockdown and major restrictions on multinational operations has resulted in the decreased growth. The timely arrival of raw materials has disrupted, as well as absenteeism of workers and shut down of factories and other associated operations have contributed in the slower growth of the global aerospace composites market.

Regional Instance of Global Aerospace Composites Market

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 fiber 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 composites market.

Key Players

The players profiled in the report include Dupont, Solvay, Hexcel, Gurit Holding Co., Owens Corning, Kaneka Corporation, Axioms Materials, Royal Tencate, Argosy International, Toray Industries Inc., BASF SE, and others. 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.

Market Segmentation

Aerospace Composites Market By Fiber Type

Glass Fiber
Carbon Fiber
Ceramic Fiber
Other Fiber Types

Aerospace Composites Market By Application

Military
Commercial
General Aviation
Space

Aerospace Composites Market By Geography

North America
•    U.S.
•    Canada

Europe
•    U.K.
•    Germany
•    France
•    Spain
•    Rest of Europe

Asia-Pacific
•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Rest of Asia-Pacific

Latin America
•    Brazil 
•    Mexico
•    Rest of Latin America

Middle East & Africa
•    GCC
•    South Africa
•    Rest of Middle East & Africa

Frequently Asked Questions

The market for aerospace composites is expected to reach a market value of around US$ 29.7 Bn by 2028.

The aerospace composites market is expected to grow at a CAGR of around 8.8% from 2021 to 2028.

Carbon fiber is the leading segment by fiber type in the aerospace composites market

The increasing usage of commercial aircraft associated with defense and military activities, wide range of application area including 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 are some of the key drivers of the global aerospace composites market.

Dupont, Solvay, Hexcel, Gurit Holding Co., Owens Corning, Kaneka Corporation, Axioms Materials, Royal Tencate, Argosy International, Toray Industries Inc., and BASF SE are some of the prominent players in the aerospace composites market

North America held the highest market share in the aerospace composites market

Asia Pacific is expected to be the fastest growing market over the forecast period


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