Aerospace Composites
Aerospace Composites Market Forecasts to 2030 - Global Analysis By Fiber Type (Glass Fiber, Carbon Fiber, Aramid Fiber and Other Fiber Types), Matrix Type, Aircraft Type, Manufacturing Process, Application and by Geography
According to Stratistics MRC, the Global Aerospace Composites Market is accounted for $46.82 billion in 2024 and is expected to reach $87.57 billion by 2030 growing at a CAGR of 11.0% during the forecast period. Aerospace composites are cutting-edge materials designed to satisfy the aerospace industry's strict specifications. Their main constituents consist of a matrix, typically made of polymer, reinforced with fibers like glass, carbon, or aramid. These composite materials are perfect for use in aircraft and spacecraft applications because of their outstanding strength-to-weight ratio, high stiffness, and superior resistance to corrosion and fatigue. Furthermore, their application results in aircraft that are lighter, more fuel-efficient, perform better, and last longer.
According to the American Institute of Aeronautics and Astronautics (AIAA), the use of aerospace composites has become a critical component in modern aircraft design, offering enhanced performance and fuel efficiency while significantly reducing the weight of the aircraft.
Market Dynamics:
Driver:
Increased need for lightweight materials
Manufacturers of aircraft are always looking for ways to lighten their products to improve performance and fuel economy. When compared to conventional metals like aluminum, aerospace composites, like carbon fiber-reinforced polymers, offer better strength-to-weight ratios. This weight loss translates into reduced fuel consumption and increased operational effectiveness. Moreover, the use of lightweight composites becomes more important as the aviation industry concentrates on lowering operating costs and increasing aircraft range.
Restraint:
High starting prices
High material and manufacturing costs are associated with the creation and processing of aerospace composites. When compared to more conventional materials like steel or aluminum, the cost of advanced manufacturing machinery, specialized processes, and raw composite materials can be very high. Smaller manufacturers or businesses aiming to use composites for applications where cost is a concern may find it prohibitive due to this substantial upfront cost. Additionally, the total cost is also influenced by the difficulty and expense of incorporating these materials into the current production lines.
Opportunity:
Developments in composite technologies
Innovative and reasonably priced solutions are being developed as a result of continuous research and development in composite materials. Aerospace composites can be made more affordable and perform better owing to innovations like nano composites, bio-based resins, and better manufacturing processes like 3D printing and automated fiber placement. Moreover, these developments have the potential to spur the creation of new applications and raise the sustainability and efficiency of aerospace components.
Threat:
Market volatility and economic fluctuations
The aerospace sector is extremely susceptible to shifts in the market and economic cycles. Budgets for defense, investment in new aerospace projects, and demand for air travel can all be impacted by economic downturns, recessions, or geopolitical unrest. These variations may result in a decline in the market for aerospace composites, which would impact the earnings and expansion opportunities of producers. Furthermore, alterations in government funding for aerospace and defense initiatives may impact the composites market as a whole.
Covid-19 Impact:
Due to production halts, supply chain disruptions, and project delays in the aviation and space industries, the COVID-19 pandemic had a substantial effect on the aerospace composites market. Due to travel restrictions and a decline in demand for air travel, the aerospace industry experienced a temporary slowdown in the adoption of composite materials and aerospace projects, as well as a reduction in orders and financial strain. Moreover, on the other hand, the pandemic also sharpened attention to innovation and digitalization, generating a surge in curiosity about more sustainable and effective manufacturing techniques.
The Carbon Fiber segment is expected to be the largest during the forecast period
The carbon fiber segment has the largest market share in the aerospace composites market. Because of their remarkable stiffness, strength-to-weight ratio, and thermal stability, carbon fiber composites are highly preferred in aerospace applications. These characteristics are essential for improving performance and fuel economy while lowering the total weight of the aircraft. Additionally, the market dominance of carbon fiber composites can be attributed to their widespread application in structural components such as wings, fuselages, and interior parts. They are essential to modern aerospace engineering because of their superior mechanical qualities and resilience to harsh environments.
The Ceramic Matrix segment is expected to have the highest CAGR during the forecast period
The Ceramic Matrix Composites segment of the Aerospace Composites Market is growing at the highest CAGR. Because of their remarkable mechanical qualities, high temperature resistance, and lightweight design, ceramic matrix composites are becoming more and more valuable in aerospace applications. These composites are perfect for parts like turbine engines and thermal protection systems that are subjected to severe temperatures and harsh conditions. Furthermore, their quick adoption and expansion in the aerospace industry are being fueled by their capacity to preserve structural integrity and performance under extreme stress.
Region with largest share:
In the market for aerospace composites, North America has the largest share. The strong aerospace sector in the area, which includes well-known aircraft manufacturers like Lockheed Martin and Boeing, as well as its sophisticated R&D capabilities, is the main drivers of this dominance. The adoption of composite materials has accelerated due to the region's focus on lightweight and fuel-efficient aircraft. Moreover, North America's dominant position in the aerospace composites market is further cemented by the growing demand for both military and commercial aircraft, as well as the existence of a well-established supply chain.
Region with highest CAGR:
The aerospace composites market is growing at the highest CAGR in the Asia-Pacific region. The aerospace industry is growing quickly in nations like China, India, and Japan as a result of rising defense spending, rising air travel demand, and the rise of regional aircraft manufacturers. The high growth is largely due to the region's emphasis on producing aircraft domestically and on using cutting-edge composite materials to increase fuel economy and lower emissions. Furthermore, the market's growth is also being accelerated by large R&D expenditures and the expanding number of international aerospace companies operating in the area.
Key players in the market
Some of the key players in Aerospace Composites market include Safran SA, Toray Industries, Inc., Collins Aerospace, Mitsubishi Chemical Corporation, Honeywell International Inc., DuPont, AIM Aerospace, Inc., Hexcel Corporation, Teijin Limited, Evonik Industries AG, Solvay Group, General Electric, Huntsman Corporation, Bally Ribbon Mills, Royal Ten Cate N.V and Materion Corporation.
Key Developments:
In June 2024, DuPont announced it has signed an agreement to acquire Donatelle Plastics Incorporated, a leading medical device contract manufacturer specializing in the design, development and manufacture of medical components and devices. The transaction is expected to close in the third quarter 2024, subject to satisfaction of customary closing conditions and receipt of regulatory approvals.
In July 2024, Honeywell has entered into a long-term agreement with Air India Limited, India’s premier global airline and a part of the Tata Group, to provide Auxiliary Power Unit (APU) aftermarket support for both the existing and new fleets.
In February 2024, Safran Helicopter Engines has signed a support-by-the-hour contract renewal with ADAC Heliservice for the engines powering ADAC Luftrettung and ANWB Medical Air Assistance H145 helicopter fleets. This SBH® contract covers in-service support and MRO (maintenance, repair and overhaul) for around 50 Arriel 2E engines.
Fiber Types Covered:
• Glass Fiber
• Carbon Fiber
• Aramid Fiber
• Other Fiber Types
Matrix Types Covered:
• Polymer Matrix
• Metal Matrix
• Ceramic Matrix
Aircraft Types Covered:
• Commercial Aircraft
• Business & General Aviation
• Civil Helicopters
• Military Aircrafts
• Jet Engines
• Other Aircraft Types
Manufacturing Processes Covered:
• AFP (Automated Fiber Placement)/ ATL (Automated Tape Layup)
• Lay-up
• Resin Transfer Molding
• Filament Winding
Applications Covered:
• Commercial Aviation
• Military Aviation
• Space
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Aerospace Composites Market, By Fiber Type
5.1 Introduction
5.2 Glass Fiber
5.3 Carbon Fiber
5.4 Aramid Fiber
5.5 Other Fiber Types
6 Global Aerospace Composites Market, By Matrix Type
6.1 Introduction
6.2 Polymer Matrix
6.3 Metal Matrix
6.4 Ceramic Matrix
7 Global Aerospace Composites Market, By Aircraft Type
7.1 Introduction
7.2 Commercial Aircraft
7.3 Business & General Aviation
7.4 Civil Helicopters
7.5 Military Aircrafts
7.6 Jet Engines
7.7 Other Aircraft Types
8 Global Aerospace Composites Market, By Manufacturing Process
8.1 Introduction
8.2 AFP (Automated Fiber Placement)/ ATL (Automated Tape Layup)
8.3 Lay-up
8.4 Resin Transfer Molding
8.5 Filament Winding
9 Global Aerospace Composites Market, By Application
9.1 Introduction
9.2 Commercial Aviation
9.3 Military Aviation
9.4 Space
9.5 Other Applications
10 Global Aerospace Composites Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Safran SA
12.2 Toray Industries, Inc.
12.3 Collins Aerospace
12.4 Mitsubishi Chemical Corporation
12.5 Honeywell International Inc.
12.6 DuPont
12.7 AIM Aerospace, Inc.
12.8 Hexcel Corporation
12.9 Teijin Limited
12.10 Evonik Industries AG
12.11 Solvay Group
12.12 General Electric
12.13 Huntsman Corporation
12.14 Bally Ribbon Mills
12.15 Royal Ten Cate N.V
12.16 Materion Corporation
List of Tables
1 Global Aerospace Composites Market Outlook, By Region (2022-2030) ($MN)
2 Global Aerospace Composites Market Outlook, By Fiber Type (2022-2030) ($MN)
3 Global Aerospace Composites Market Outlook, By Glass Fiber (2022-2030) ($MN)
4 Global Aerospace Composites Market Outlook, By Carbon Fiber (2022-2030) ($MN)
5 Global Aerospace Composites Market Outlook, By Aramid Fiber (2022-2030) ($MN)
6 Global Aerospace Composites Market Outlook, By Other Fiber Types (2022-2030) ($MN)
7 Global Aerospace Composites Market Outlook, By Matrix Type (2022-2030) ($MN)
8 Global Aerospace Composites Market Outlook, By Polymer Matrix (2022-2030) ($MN)
9 Global Aerospace Composites Market Outlook, By Metal Matrix (2022-2030) ($MN)
10 Global Aerospace Composites Market Outlook, By Ceramic Matrix (2022-2030) ($MN)
11 Global Aerospace Composites Market Outlook, By Aircraft Type (2022-2030) ($MN)
12 Global Aerospace Composites Market Outlook, By Commercial Aircraft (2022-2030) ($MN)
13 Global Aerospace Composites Market Outlook, By Business & General Aviation (2022-2030) ($MN)
14 Global Aerospace Composites Market Outlook, By Civil Helicopters (2022-2030) ($MN)
15 Global Aerospace Composites Market Outlook, By Military Aircrafts (2022-2030) ($MN)
16 Global Aerospace Composites Market Outlook, By Jet Engines (2022-2030) ($MN)
17 Global Aerospace Composites Market Outlook, By Other Aircraft Types (2022-2030) ($MN)
18 Global Aerospace Composites Market Outlook, By Manufacturing Process (2022-2030) ($MN)
19 Global Aerospace Composites Market Outlook, By AFP (Automated Fiber Placement)/ ATL (Automated Tape Layup) (2022-2030) ($MN)
20 Global Aerospace Composites Market Outlook, By Lay-up (2022-2030) ($MN)
21 Global Aerospace Composites Market Outlook, By Resin Transfer Molding (2022-2030) ($MN)
22 Global Aerospace Composites Market Outlook, By Filament Winding (2022-2030) ($MN)
23 Global Aerospace Composites Market Outlook, By Application (2022-2030) ($MN)
24 Global Aerospace Composites Market Outlook, By Commercial Aviation (2022-2030) ($MN)
25 Global Aerospace Composites Market Outlook, By Military Aviation (2022-2030) ($MN)
26 Global Aerospace Composites Market Outlook, By Space (2022-2030) ($MN)
27 Global Aerospace Composites Market Outlook, By Other Applications (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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