The global aerospace composites market is characterized by the utilization of reinforced carbon, ceramics, and glass-based fibers to create high-performance materials with excellent mechanical strength and low density. These composites find extensive applications in critical aerospace components, including propellers, wing assemblies, rotor blades, seats, and instrument enclosures. The market is driven by the aviation industry's continuous pursuit of lightweight and durable materials to enhance aircraft performance, fuel efficiency, and environmental sustainability. As technology advances, aerospace composites play a pivotal role in shaping the future of aviation by enabling innovative designs and solutions for the aerospace sector.
According to Data Bridge Market Research, the Global Aerospace Composites Market will witness a CAGR of 9.85% for the forecast period of 2022-2029.
“Rise in demand for aerospace composites facilitate market growth”
The rise in demand for aerospace composites by the aircraft manufacturing industry serves as a significant driver for the global aerospace composites market. As aircraft manufacturers seek to enhance fuel efficiency, reduce weight, and improve overall performance, they increasingly turn to advanced composite materials. Composites offer higher strength-to-weight ratios, corrosion resistance, and design flexibility. The aerospace industry's pursuit of more fuel-efficient and environmentally friendly aircraft propels the adoption of composites, positioning them as a crucial solution to meet evolving industry requirements and drive market growth.
What restraints the growth of the global aerospace composites market?
“Insufficiency in raw material demand and supply”
Insufficiency in raw material demand and supply poses a significant restraint in the global aerospace composites market. The growing demand for composites in the aerospace industry has led to increased pressure on the supply of raw materials such as carbon fiber and resins. Manufacturers face challenges in ensuring a consistent and reliable supply of quality raw materials, which can impact production timelines, increase costs, and hinder the growth of the market. This constraint underscores the need for strategic raw material sourcing and the development of alternative solutions to ensure the smooth progression of the aerospace composites industry.
Segmentation: Global Aerospace Composites Market
The aerospace composites market is segmented on the basis of resin, fiber type, matrix type, application, manufacturing process, and aircraft type.
- On the basis of resin, the aerospace composites market is segmented into thermosetting and thermoplastic.
- On the basis of fiber type, the aerospace composites market is segmented into carbon fiber composites, ceramic fiber composites, glass fiber composites, and others.
- On the basis of matrix type, the aerospace composites market is segmented into polymer matrix, ceramic matrix, and metal matrix.
- On the basis of application, the aerospace composites market is segmented into interior and exterior.
- On the basis of manufacturing process, the aerospace composites market is segmented into automated tape laying (ATL) and automated fiber placement (AFP), lay-up, resin transfer molding, filament winding, and others.
- On the basis of aircraft type, the aerospace composites market is segmented into commercial aircraft, business and general aviation, civil helicopter, military aircraft, and others.
Regional Insights: North America dominates the Global Aerospace Composites Market
North America's aerospace composites market dominance is fueled by its robust defense sector demand, attributed to ongoing military modernization efforts. The region's dynamic trade activities further stimulate the market, with substantial aerospace exports and imports. The presence of major players, coupled with advanced technological expertise, bolsters North America's leadership.
Asia-Pacific's aerospace composites market growth is projected to surge due to intensified research and development activities, enhancing regional aerospace capabilities. Rising tourism in nations such as India and China drives increased air travel and aircraft demand. High economic growth in emerging economies facilitates increased aerospace investments. Abundant raw material availability further supports market expansion across the region.
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The Prominent Key Players Operating in the Global Aerospace Composites Market Include:
- DSM (Netherlands)
- Teijin Aramid B.V. (Netherlands)
- TORAY INDUSTRIES, INC. (Japan)
- Honeywell International Inc. (U.S.)
- DuPont (U.S.)
- Solvay (Belgium)
- Gurit (Switzerland)
- Morgan Advanced Materials (U.K.)
- Southern States, LLC (U.S.)
- Barrday Inc. (U.S.)
- Plastic Reinforcement Fabrics Ltd (U.K.)
- Gaffco Ballistics (U.S.)
- M Cubed Technologies (U.S.)
- FY-Composites Oy (Finland)
- MKU Limited (India)
- ArmorSource (U.S.)
- Elmon (Germany)
- JPS Composite Materials (U.S.)
- ITT INC. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global aerospace composites market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Aerospace Composites Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
