IMARC Group, a leading market research company, has recently releases report titled “Aerospace Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global aerospace composites market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Aerospace Composites Market?
|Market Size in 2022||US$ 20.3 Billion|
|Market Forecast in 2028||US$ 32.2 Billion|
|Growth rate (2023 to 2028)||CAGR of 7.5%|
|Base Year of the Analysis||2022|
What is Aerospace Composites?
Aerospace composites refer to the reinforced carbon, ceramic, and glass-based fibers found in a strong resin matrix. They are widely utilized in propellers, seats, wing assemblies, rotor blades, and instrument enclosures of passenger airlines, fighter planes, helicopters, etc. These composites exhibit low density and high mechanical strength, which are beneficial characteristics for manufacturing both the structural and utility components of the aircraft. An aerospace composite also demonstrates flexibility in producing complex shapes, fiber toughness, resistance to fatigue and corrosion, etc., which assists it in improving the efficiency of the engine.
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What are the Growth Prospects and Trends in the Aerospace Composites industry?
The expanding aviation and aerospace industry is one of the primary factors driving the aerospace composites market across the globe. Moreover, the rising need to develop fuel-efficient aircraft, owing to the soaring aviation fuel prices and the increasing pollution levels, is further propelling the product demand. Besides this, the escalating air traffic and tourism activities, especially in emerging economies, are acting as significant growth-inducing factors. Additionally, the growing popularity of space exploratory activities using drones, spaceships, aircraft, etc., is also augmenting the global market since composites can protect the equipment against damages caused by accidents, climatic changes, collisions, etc. In the coming years, various favorable policies implemented by government bodies to enhance air transport infrastructures, increase trade activities, support research and development (R&D), etc., are expected to fuel the aerospace composites market.
Who are the Key Players Operating in the Aerospace Composites Industry?
The competitive landscape of the industry has also been examined with some of the key players.
- Bally Ribbon Mills
- Hexcel Corporation
- Materion Corporation
- Mitsubishi Chemical Holding Corporation
- Renegade Materials Corporation
- Koninklijke Ten Cate B.V.
- SGL Carbon SE
- Teijin Limited
- Toray Industries Inc.
What is Included in Market Segmentation?
The report has categorized the market based on fiber type, resin type, aircraft type, application, manufacturing process and region.
Breakup by Fiber Type:
- Carbon Fiber Composites
- Ceramic Fiber Composites
- Glass Fiber Composites
- Other Fiber Composites
Breakup by Resin Type:
- Ceramic and Metal Matrix
Breakup by Aircraft Type:
- Commercial Aircraft
- Business Aviation
- Civil Helicopters
- Military Aircraft & Helicopters
Breakup by Application:
- Interior Parts
- Exterior Parts
Breakup by Manufacturing Process:
- Filament Winding
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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