The aerospace composites market is concerned with the use of composite materials in the aerospace sector, particularly in the production of aeroplanes and spacecraft. Composite materials are composed of fibres (such as carbon or glass) and a resin (such as epoxy) that have been developed to produce certain features such as strength, durability, and weight reduction. Composites have seen increased application in aerospace in recent years due to their capacity to enhance fuel economy and lower overall weight of aircraft, which may result in considerable cost savings for manufacturers and operators. Increased demand for fuel-efficient aircraft, as well as the usage of composites in the building of new aircraft types, are driving market expansion.
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Key Market Segments Covered in Aerospace Composites Industry Analysis
- On the Basis of Fibre:
- Carbon Fibre Aerospace Composites
- Ceramic Fibre Aerospace Composites
- Glass Fibre Aerospace Composites
- On the Basis of Matrix:
- Polymer Matrix
- Ceramic Matrix
- Metal Matrix
- On the Basis of Application:
- Aerospace Composites for Interiors
- Aerospace Composites for Exteriors
- On the Basis of Manufacturing Process:
- AFP (Automated Fibre Placement)/ATL (Automated Tape Layup)
- Resin Transfer Moulding
- Filament Winding
- On the Basis of Aircraft:
- Aerospace Composites for Commercial Aircraft
- Aerospace Composites for Business & General Aviation
- Aerospace Composites for Civil Helicopters
- Aerospace Composites for Military Aircraft
Key Takeaways from Market Study
- Revenue from aerospace composites topped US$ 32 Bn in 2020, and is expected to reach a valuation of over US$ 56 Bn by 2031.
- Key factors driving demand for aerospace composites are growing aviation industry, rising demand for fuel-efficient aircraft, and propelling space exploration and defence industry
- North America, with the highest market share of 40%, will significantly contribute to revenue growth of aerospace composites over the coming years.
- China’s market for aerospace composites is estimated to expand at a CAGR of 8% across forecast period.
- Demand for aerospace composites in the U.S. was around US$ 9 Bn in 2020.
Key Companies Profiled
- Toray Industries, Inc.
- Mitsubishi Chemical Holdings
- Hexcel Corporation
- Teijin Limited
- SGL Group
- Spirit AeroSystems
Key Points Covered in Aerospace Composites Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- Assessment by Product Grade / Purity / Formulation Standards
- Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
- Leading Export – Import Destinations for Aerospace Composites
- COVID-19 Impact on Sales of Aerospace Composites and How to Navigate
- Recommendation on Key Winning Strategies