Global Aerospace Composites Market is expected to exceed USD 34,752.9 million by 2030

  • Author Name : IMR
  • Publish Date : January 12, 2021

Aerospace Composites Market to surge at 10.43% CAGR, growing demand for composite materials for the aerospace industry expected to propel growth, says Index Markets Research

Index Markets Research has released a report labeled “Aerospace Composites Market – Analysis of Market Size, Share & Trends for 2016-2019 and Forecasts to 2030” which is anticipated to reach USD 34,752.9 million by 2030. According to a study by Index Markets Research, the market is estimated to portray a CAGR of 10.43% during the forecast period i.e. 2020-2030. As per the report, growing demand for composite materials for the aerospace industry is likely to drive the market for aerospace composites in the coming years.

Aspects such as increasing air travelers, growth in tourism, evolution of cost-efficient transporters, and emerging involvement towards aircraft fuel proficiency are projected to upsurge the market demand. The producers are increasingly spending in research & development to modernize light weight and low-cost composites for aerospace industry with great strength-to-weight proportion, and exceptional effect strength.

 

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The market report on global aerospace composites market comprises of the following in-depth analysis:

  • The estimated value of the market in 2019 was USD 18,307.3 million.
    • Based on fiber type, the carbon fiber composites segment emerged out as a key segment in the aerospace composites market across the globe.
    • On the basis of aircraft type, the commercial aircraft segment came out to be the leading segment of the market.
    • Based on application, the exterior segment emerged to be the key segment in the market for aerospace composites.
    • Region-wise, the market in Europe is witnessed to be the key market segment in the growth of the market.
    • Key players are likely to focus on product innovations and expansion through union to retain their positions in developed markets.

    “Composite substances are utilized widely as sandwich structures in interior and exterior applications in the aerospace sector. The light weight and high workable energy of composites raise fuel proficiency, decrease sustenance costs, and enable OEMs to conform with the severe environmental norms in Europe and North America”, said a lead analyst at Index Markets Research.

    Aerospace market is one of the utmost significant and largest markets for the composite sector. All the military aircrafts, commercial aircrafts, helicopters, and spacecrafts make use of composite substances both for interior and exterior applications. These composite substances, also called advanced polymer matrix composites, are usually controlled by high-strength fibers that have great flexibility and firmness and are constrained together with frailer matrices. Composite substances are utilized for several reasons in the aircraft sector. The benefit of composites is that they can maintain their characteristics and do not combine entirely with each other. On merging, the substances generate a hybrid substance that has better physical features, which can be utilized for aerospace constituents. Composite substances used in aerospace sector comprise of fiberglass, carbon fiber, and fiber-reinforced matrix programs or any mixture of these substances. Aerospace composites are utilized in several aircraft edges, such as wings, aircraft interiors, and fuselage as these can maintain radical functioning circumstances, including high temperature, high stress, shocks, and effect loads. The composites materials are significant for the aerospace sector, as they offer better structural strength in comparison to metallic alloys.

Global aerospace composites market is segmented by fiber type into carbon/graphite fiber composites, ceramic fiber composites, aramid fiber composites and glass fiber composites. Among these, the carbon fiber composites segment emerged as the key segment, holding a market share of xx% in 2019. The market is segmented by aircraft type into commercial aircraft, general aviation {business jets, piston airplanes (single-engine piston, multi-engine piston), turboprop airplanes (single-engine turboprops, multi-engine turboprops), helicopters (piston helicopters, turbine helicopters)}, military aircraft and space aircraft. Among these, the commercial aircraft segment came out to be the key segment of the market, capturing xx% of the total market share in 2019. On the basis of application, the market for aerospace composites is segmented into interior and exterior. The exterior segment emerged as the leading segment in the market, holding xx% of the total market share in the year 2019. Region-wise, the worldwide aerospace composites market is segmented into North America, Latin America, Europe, Middle East & Africa and Asia Pacific. Among these, the market in Europe is witnessed to be the key segment, acquiring xx% of the total market share in 2019.

Key Players in the Market :

Some of the key players in global aerospace composites market are Cytec Industries, SGL Group, Koninklijke Ten Cate Kaneka Corporation, Hindustan Aeronautics, Argosy International, LMI Aerospace, Axioms Materials, ACT Aerospace, BASF and Toray Industries.

 

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Get Valuable Insights into Aerospace Composites Market :

In the new report, Index Markets Research thrives to present an unbiased analysis the global aerospace composites market that covers the historical demand data as well as forecast figures for the period i.e. 2020-2030. The study includes compelling insights into growth that is witnessed in the market. The global aerospace composites market is segmented by fiber type into carbon/graphite fiber composites, ceramic fiber composites, aramid fiber composites and glass fiber composites. The market is divided by resin type into thermosetting and thermoplastic. On the basis of aircraft type, the market for aerospace composites is divided into commercial aircraft, general aviation, military aircraft and space aircraft. Region-wise, the market is segmented into North America, Latin America, Europe, Middle East & Africa and Asia Pacific.

About Index Markets Research

Index Markets Research is a leading management consulting, advisory and market research organization that serves its clients globally by its team of experts and industry veterans that have years of expertise for management consulting, advisory and market research analysis. The organization functions across business consulting, strategy consulting, market research, operations consulting, financial advisory, human resources, risk & compliance, environmental consulting, software consulting and sales consulting amongst others, and aim to aid businesses with bold decisions that help them embrace change for their sustainable growth.

 

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