Aerospace Composites Market Size 2024 To 2032

• The global aerospace composites market size reached USD 21.9 Billion in 2023.
• The aerospace composites market size is expected to reach USD 41.0 Billion by 2032, exhibiting a growth rate (CAGR) of 7% during 2024-2032.
• Region-wise, the market has been segmented into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
• Based on the fiber type, the market has been classified into carbon fiber composites, ceramic fiber composites, glass fiber composites, and other fiber composites.
• On the basis of resin type, the market has been categorized into epoxy, phenolic, polyester, polyimides, thermoplastics, ceramic and metal matrix, and others.
• Based on the aircraft type, the market has been divided into commercial aircraft, business aviation, civil helicopters, military aircraft & helicopters, and others.
• On the basis of application, the market has been bifurcated into interior parts and exterior parts.
• Based on the manufacturing process, the market has been classified into AFP/ATL, layup, RTM/VARTM, filament winding, and others.
• The growing demand for fuel efficiency in aircrafts is a primary driver of the aerospace composites market.
• Technological advancements and the innovations in material science are reshaping the aerospace composites market.

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Industry Trends and Drivers:

• Growing Demand for Fuel Efficiency:

The increasing need for fuel-efficient aircraft across the globe is one of the major factors boosting the market growth.

Moreover, the growing focus of airlines and manufacturers on reducing fuel consumption to minimize operational costs and adhere to stricter environmental regulations is creating a positive outlook for the market. In addition to this, the development of composite materials like carbon fiber-reinforced polymers (CFRP) that are lighter than traditional metals like aluminum and steel is catalyzing the market growth.

Additionally, the lower weight contributes to improved payload capacity, allowing airlines to carry more passengers or cargo without increasing fuel usage.

• Rapid Technological Advancements in Manufacturing Processes:

The rising innovations in manufacturing technologies that enhance the production of aerospace composites, making them more accessible and cost-effective for widespread use, is boosting the market growth.

Moreover, the introduction of advanced techniques such as automated fiber placement (AFP) and resin transfer molding (RTM) that streamline the production process while reducing the time and labor required to manufacture composite parts is fostering the market growth. These methods allow for greater precision and consistency, improving the performance and reliability of the final products.

Additionally, rapid advancements in material science that led to the development of more durable and high-strength composites, enabling the production of components that are lighter and stronger, are enhancing the market growth.

• Increasing Demand for Lightweight Military Aircraft:

The increasing reliance of the defense sector on lightweight and agile aircraft is another key driver driving the market growth. Along with this, the growing demand for military forces for advanced aircraft that offer superior speed, maneuverability, and fuel efficiency without compromising on strength or durability is catalyzing the market growth.

Moreover, the widespread utilization of composites in the production of military aircraft due to their high strength-to-weight ratio and resistance to extreme environmental conditions is fueling the market growth. Besides this, the heightened demand for lightweight aircraft, as they allow for better performance during complex military operations, including faster takeoffs, longer range, and greater payload capacity, is contributing to the market growth.

Aerospace Composites Market Report Segmentation:

Breakup By Fiber Type:

·         Carbon Fiber Composites

·         Ceramic Fiber Composites

·         Glass Fiber Composites

·         Other Fiber Composites

Based on the fiber type, the market has been classified into carbon fiber composites, ceramic fiber composites, glass fiber composites, and other fiber composites.

Breakup By Resin Type:

·         Epoxy

·         Phenolic

·         Polyester

·         Polyimides

·         Thermoplastics

·         Ceramic and Metal Matrix

·         Others

On the basis of resin type, the market has been categorized into epoxy, phenolic, polyester, polyimides, thermoplastics, ceramic and metal matrix, and others.

Breakup By Aircraft Type:

·         Commercial Aircraft

·         Business Aviation

·         Civil Helicopters

·         Military Aircraft & Helicopters

·         Others

Based on the aircraft type, the market has been divided into commercial aircraft, business aviation, civil helicopters, military aircraft & helicopters, and others.

Breakup By Application:

·         Interior Parts

·         Exterior Parts

On the basis of application, the market has been bifurcated into interior parts and exterior parts.

Breakup By Manufacturing Process:

·         AFP/ATL

·         Layup

·         RTM/VARTM

·         Filament Winding

·         Others

Based on the manufacturing process, the market has been classified into AFP/ATL, layup, RTM/VARTM, filament winding, and others.

Breakup By Region:

·         North America

·         Asia Pacific

·         Europe

·         Latin America

·         Middle East and Africa

Region-wise, the market has been segmented into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

Top Aerospace Composites Market Leaders:

The aerospace composites market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.

Some of the key players in the market are:

·         Bally Ribbon Mills

·         Hexcel Corporation

·         Materion Corporation

·         Mitsubishi Chemical Holding Corporation

·         Renegade Materials Corporation

·         Koninklijke Ten Cate B.V.

·         SGL Carbon SE

·         Solvay

·         Teijin Limited

·         Toray Industries Inc.

·         Aalberts Surface Treatment GmbH

·         Akzo Nobel N.V.

·         Axalta Coating Systems Ltd.

·         Henkel AG & Co. KGaA

·         Hentzen Coatings Inc.

·         IHI Ionbond AG

·         Mankiewicz Gebr. & Co. (GmbH & Co. KG)

·         PPG Industries Inc.

·         Saint-Gobain S.A.

·         The Sherwin-Williams Company 

·         Zircotec Ltd.

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Key Highlights of the Report:

·         Market Performance (2018-2023)

·         Market Outlook (2024-2032)

·         Market Trends

·         Market Drivers and Success Factors

·         Impact of COVID-19

·         Value Chain Analysis

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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