Global Aerospace Composites Market, By Resin (Thermosetting and Thermoplastic), Fiber Type (Carbon Fiber Composites, Ceramic Fiber Composites, Glass Fiber Composites and Others), Matrix Type (Polymer Matrix, Ceramic Matrix and Metal Matrix), Application (Interior and Exterior), Manufacturing Process (Automated Tape Laying (ATL) and Automated Fiber Placement (AFP), Lay-Up, Resin Transfer Molding, Filament Winding and Others), Aircraft Type (Commercial Aircraft, Business and General Aviation, Civil Helicopter, Military Aircraft and Others) Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights of Aerospace Composites Market
Data Bridge Market Research analyses that the aerospace composites market will witness a CAGR of 9.85% for the forecast period of 2022-2029. Growth in the aerospace composites especially in the developing economies like India and China, growing use of aerospace composites by the defence industry, rising rate of manufacturing the commercial aircrafts, increasing investment by the government for research and development activities and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the aerospace composites market.
Aerospace composites are the composites that are manufactured using reinforced carbon, ceramic and glass based fibers. Aerospace composites have low density and exhibit a good mechanical strength. As a result, aerospace composite are used in applications such as propellers, seats, wing assemblies, rotor blades and instrument enclosures.
Rise in demand for aerospace composites by the aircraft manufacturing industry in developed and developing economies is the root cause fuelling up the market growth rate. Rising awareness about the benefits of aerospace composite and growth and expansion of aviation industry especially in the developing economies will also directly and positively impact the growth rate of the market. Continuous technology advancements in terms of components and structural applications in airplanes, rising expenditure for research and development proficiencies by the major companies, upsurge in the rate of industrialization and growing focus on the technological advancements and modernization in the production techniques will further carve the way for the growth of the market.
However, insufficiency in raw material demand and supply owing to the lockdown and volatility in their prices will pose a major challenge to the growth of the market. High cost associated with research and development proficiencies, surging geopolitical issues and unfavourable market conditions arising as a result of coronavirus outbreak will dampen the market growth rate. Issues related to recyclability and lack of standardization in manufacturing technologies will also create difficulties for the market.
This aerospace composites market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on aerospace composites market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Aerospace Composites Market Scope and Market Size
The aerospace composites market is segmented on the basis of fiber type, matrix type, application, manufacturing process and aircraft type. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- 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.
- Based on aircraft type, the aerospace composites market is segmented into commercial aircraft, business and general aviation, civil helicopter, military aircraft and others.
Aerospace Composites Market Country Level Analysis
The aerospace composites market is analysed and market size, volume information is provided by country, fiber type, matrix type, application, manufacturing process and aircraft type as referenced above.
The countries covered in the aerospace composites market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the aerospace composites market owing to the increasing demand from defense sector, increasing trade activities in the country, and presence of major players. Asia-Pacific is projected to score the highest CAGR owing to the increase in the research and development activities, increasing tourism in the countries such as India and China, high economic growth in the emerging countries and abundant availability of raw materials are some are important driving factors for this region.
The country section of the aerospace composites market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Aerospace Composites Market Share Analysis
The aerospace composites market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to aerospace composites market.
Some of the major players operating in the aerospace composites market report are DSM, Teijin Aramid B.V., TORAY INDUSTRIES, INC., Honeywell International Inc., DuPont.., Solvay, Gurit, Morgan Advanced Materials, Southern States, llc, Barrday Inc., Plastic Reinforcement Fabrics Ltd, Gaffco Ballistics, M Cubed Technologies., FY-Composites Oy, MKU Limited, ArmorSource, Elmon, JPS Composite Materials and ITT INC., among others.