Aerospace Composites - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Aerospace Composites Market is accounted for $21.6 billion in 2019 and is expected to reach $60.5 billion by 2027 growing at a CAGR of 13.7% during the forecast period. The high command for composite materials from the aerospace industry and expansion of fuel-efficient aircraft are some of the major factors propelling the growth of the market. However, a decrease in the number of commercial aircraft deliveries is hampering the growth of the market.
Composite materials are used for different purposes in the aircraft industry. The benefit of composites is that they can sustain their identities and do not join completely with each other. On mixing, the materials create a hybrid material that has better structural properties, which can be used for aerospace components.
Based on the fiber type, the carbon/graphite fiber composites segment is anticipated to grow at a significant rate during the forecast period due to their higher strength-to-weight ratio and anti-corrosive property. The aerospace industry has broadly adopted carbon fiber composites for various applications, such as fuselage, floorboards, engine nacelles, fan casings, and interior parts. The evolution in the manufacturing technology of carbon fiber composites parts is also driving its use in aerospace applications. By geography, Europe is anticipated to hold considerable market share during the forecast period due to high demand from commercial aerospace industries. Increased delivery of airbus aircraft primarily drives the composites material demand in Europe. Apart from this, the region develops military aircraft and helicopters.
Some of the key players profiled in the Aerospace Composites Market include General Electric Company, Gurit Holding AG, Hexcel Corp., Materion Corporation, Mitsubishi Rayon Co. Ltd., Owens Corning, Royal Tencate N.V., SGL Group—The Carbon Company, Solvay SA, Teijin Limited, Toray Industries, Inc., Bally Ribbon Mills, Toho Tenax, DuPont, and BASF.
Matrix Types Covered:
• Ceramic Matrix
• Metal Matrix
• Polymer Matrix
Manufacturing Processes Covered:
• Automated Fiber Placement/ Automated Tape Laying (AFP/ATL)
• Filament Winding
• Resin Transfer Molding/ Vacuum Assisted Resin Transfer Molding (RTM/VARTM)
Aircraft Types Covered:
• Civil Helicopter
• Military Aircraft
• Commercial Aircraft
• Business & General Aviation
• Other Aircraft Types
Fiber Types Covered:
• Glass Fiber Composites
• Ceramic Fiber Composites
• Carbon/Graphite Fiber Composites
• Aramid Fiber
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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