The global Aerospace Composites Market is forecast to reach USD 63.37 Billion by 2027, according to a new report by Reports and Data. The global Aerospace Composites Market is expected to experience significant growth due to the increased production of aircraft due to the boom in the Commercial Aircraft industry. The Commercial Aircraft sector contributes to a significant share of the composite market due to the increased use of light materials for interior and exterior parts. The increase in air traffic associated with the number of low-cost carriers coming to emerging Asia-Pacific and Latin American economies to facilitate air travel is expected to be a key driver for the aviation industry, which will lead to, the growth in the Aerospace Composites Market. Besides, the improved standard of living associated with the Commercial Aircraft industry of laissez-faire in the Middle East has led to an increase in demand for cheap air travel, which is expected to have a positive impact on the market during the forecast period.
The Aerospace Composites Market is expected to grow due to strong demand for commercial and military aircraft, helicopters, business aircraft, general aviation, and spacecraft manufacturing. The growing demand for light and efficient aircraft is expected to offer immense opportunities to manufacturers of composite parts, materials, and frames during the forecast period. Continued technological advances in the application of components and structures in aircraft are expected to result in high demand for Commercial Aircraft composites. With the growing demand for aircraft and pending orders, production needs have increased, which should be one of the main reasons for the penetration of Commercial Aircraft composites in the market.
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the large-scale demand and adoption of carbon fiber composites for aircraft manufacturing is one of the main factors driving the aerospace composites market. Carbon fiber composites offer several advantages, such as low weight, high rigidity, and high tensile strength, making them desirable for improving fuel economy and reducing operating costs in the aerospace industry.
The Asia-Pacific region is experiencing rapid growth in the aerospace composites market, following North America. The increasing demand for planes and helicopters in the region is driving the need for aerospace composites. China, in particular, has had significant demand in the Asia-Pacific market. Additionally, countries like Japan, Singapore, and India are expected to show potential growth in the aerospace composites industry in the near future.
In Europe, the aerospace composites market held the second-largest share in 2019. Western Europe had the highest demand in this region, driven by the significant demand for military and defense activities. However, Central Europe and Russia are expected to have a higher market share in the foreseeable future, indicating potential growth in the aerospace composites industry in these regions.
Overall, the demand for lightweight and efficient structural materials, such as carbon fiber composites, in the aerospace industry is a driving force behind the growth of the aerospace composites market. The Asia-Pacific region and Europe, including Western and Central Europe, are key markets experiencing significant demand and growth in this industry.
Some leading companies operating in the global Aerospace Composites Market:
Solvay Group, Hexcel Corporation, Royal Tencate N.V., Teijin Limited, Toray Industries Inc., Royal DSM N.V., SGL Group – The Carbon Company, Mitsubishi Rayon Co. Ltd., Renegade Materials Corporation, and Quantum Composites, among others.
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However, the use of composites also presents some challenges in terms of manufacturing and maintenance. The production process for composite materials is more complex and time-consuming than for traditional materials, and specialized skills and equipment are required. Additionally, while composites are highly resistant to corrosion, they can be vulnerable to damage from impacts and cracks that may not be immediately visible. Therefore, regular inspections and maintenance procedures are crucial to ensure the structural integrity of the aircraft.
The global market is further segmented into type and application:
Fiber Type Outlook (Revenue, USD Billion; 2017-2027)
- Ceramic Fiber
- Glass Fiber
- Carbon Fiber
- Aramid Fiber
Resin Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Aircraft Type Outlook (Revenue, USD Billion; 2017-2027)
- Commercial Aircraft
- Business and General Aviation
- Civil Helicopter
- Military Aircraft
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Overall, the increasing use of Commercial Aircraft composites in commercial aircraft is a result of their many benefits in terms of weight reduction, corrosion resistance, durability, and aerodynamic design. As aircraft manufacturers continue to invest in the development of new composite materials and production processes, we can expect to see even more advanced and efficient aircraft designs in the future.
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