A wide variety of compounds are used in aerospace industry. Commercial aircrafts, helicopters, defense aircrafts, engines and launchers are comprised of composites. Aerospace composites help in increasing the efficiency of engines and lightening the weight of components, thereby lessening the fuel consumption. Durability and low weight of components are of enormous importance in aircraft aerospace industry. The aerospace composite market is classified as: glass fiber reinforced composites, carbon fiber reinforced composites, metal matrix composites, ceramic matrix composites, and foam core materials, among others. Aerospace composites are used in exterior as well as interior of the aircrafts. Furthermore, to this ceramic matrix compounds are used in manufacturing of engines, which withstands higher temperatures. Besides, aerospace composites provide numerous characteristics to the components such as durability, fire resistance, lighter weight and flexibility among others.
The aerospace composites market growth is supplemented by commercial aircrafts along with increase in defense and military activities. These composites are used in many applications such as ceiling panels, passenger and cargo floor panels, galleys, cabin linings, air ducts, plenums, lavatories, overhead compartments, ceiling panels, partitions, bars, seats, trailing edges, landing gear doors, winglets and fins, brackets, and wardrobes among others. In defense and military applications, aerospace composites are used in making of components essential for helicopters, aircrafts and launchers among others. Aerospace composites help the mechanisms to deal with fire, wear and tear and harsh weather conditions. Also, aerospace composites help the components to improve the performance of aircrafts. Repair, maintenance and overhaul are one of the main segments in aerospace business and will be a key opportunity for the aerospace composites over the estimate period. Though, higher prices and recyclability matters regarding the aerospace composites is expected to hinder the growth of the market in close future.
In case of demand, North America was the foremost region in aerospace composites market in 2014. The aerospace composites market in North America was directed by the U.S. Growing demand for aerospace composites from commercial airlines coupled with defense activities has been influencing the market in earlier few years. North America is trailed by Asia Pacific in the global aerospace composite market. Asia Pacific is regarded to be fastest rising market for aerospace composites. Growing demand from helicopters and aircrafts is driving the demand for aerospace composites in this area. Chins displays maximum demand for aerospace composites in Asia-Pacific. Other countries such as Singapore, Japan and India are probable to show potential development for the aerospace composites in near years. Europe had the third largest portion for aerospace composites in 2014, in terms of demand. Western Europe had the largest demand in this region for aerospace composites due to the enormous demand from defense and military activities. However, Russia and Central Europe will have higher market share for aerospace composites in predictable future. New product growthin order to meet the rising expectations of the industry is one of the main strategies in the market. Some of the leading players in the aerospace composites market include Hexcel Corporation, Cytec Industries, Gurit Holding Co., Toray Industries Inc., Royal Ten Cate and GKN Plc among others.