The aerospace composites market is projected to register a CAGR of 11.7% during the forecast period. The global aerospace composites market size is projected to grow from USD 23.8 billion in 2020 to USD 41.4 billion by 2025, at a CAGR of 11.7% during the same period. The aerospace composites offer exceptional properties, such as low weight, stiffness, strength, tenacity, density, thermal & electrical conductivity, fatigue, and corrosion resistance. Owing to these outstanding properties, conventional materials, such as aluminum and steel, are less preferred in high-performance applications such as aircraft interiors and exteriors. However, the global pandemic disease COVID-19 has forced the aerospace component manufacturers to shut down their operations partially, which is expected to decrease the demand for aerospace composites in 2020.
The ceramic fiber composite segment of aerospace composites to be the fastest-growing segment in terms of value. The aerospace composites in the ceramic fiber composite segment are expected to register faster growth.There is a high demand for ceramic fiber composites for making jet engines from commercial, military, civil, business, and general aviation aircraft.
On account of the development of production facilities by major companies and increased investments in R&D, these fiber composites have a significant market share in Europe and North America.
Ceramic matrix composites to be the faster-growing matrix type, in terms of value.
Ceramic matrix composites are reinforced with discontinuous reinforcement, such as particles, whiskers or chopped, fibers, or with continuous fibers.The matrix is used to keep the reinforcing phase in the required orientation, which acts as a load transfer media, and protects the reinforcement from the environment.
The ceramic matrix composites offer properties such as high damage tolerance, fracture toughness, and high temperature, wear, and corrosion resistance, which are driving the use of ceramic matrix composites in the aerospace composites market.
Owing to the COVID-19 pandemic, the new aircraft deliveries are expected to reduce in 2020, which will result in reduced less demand for ceramic matrix composites from gas turbine engines, nose caps, and exhaust nozzles applications. The demand is expected to recover after 2020.
The commercial aircraft segment to be the fastest-growing aircraft type, in terms of value, in the aerospace composites market. The commercial aircraft segment is the fastest-growing aircraft type in terms of value, of the overall aerospace composites market in 2019.There is a high demand for carbon fiber composites in commercial airliners as they enable reduction of weight, increase fuel efficiency, reduce assembly time & maintenance, and improve performance.
A large number of commercial airplane deliveries in the single-aisle, widebody, twin-aisle, and regional jet segments are expected to increase the demand for carbon fiber composites during the forecast period. Due to COVID-19, the travel restrictions are affecting negatively, which has resulted in fewer aircraft deliveries and expected to reduce composite demand in 2020.
APAC is projected to be the fastest-growing aerospace composites industry.
APAC is projected to be the fastest-growing aerospace composites market during the forecast period.The region comprises countries, such as Japan, China, and India, having significant potential owing to the presence of established raw material suppliers, product manufacturers, and increasing new aircraft deliveries in the region.
There is a high demand for aerospace composites from the aerospace industry in the region.However, COVID-19 has negatively affected the aerospace industry in the APAC region.
Japan, China, and Malaysia provides various components to aircraft manufacturers; the COVID-19 pandemic has resulted in less demand for the new aircraft, which is expected to reduce composite consumption in these countries in 2020. This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories: • By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27% • By Designation- C Level- 50%, Director Level- 20%, and Others- 30% • By Region- North America- 15%, Europe- 50%, APAC- 20%, Latin America-5%, MEA-10%,
The report provides a comprehensive analysis of company profiles listed below: • Solvay (Belgium) • Toray Industries, Inc. (Japan) • Mitsubishi Chemical Holdings (Japan) • Hexcel Corporation (US) • Teijin Limited (Japan) • SGL Group (Germany) • Materion Corporation (US) • Owens Corning (US) • Spirit AeroSystems (US) • Lee Aerospace (US)
Research Coverage This report covers the global aerospace composites and forecasts the market size until 2025.The report includes the market segmentation – By Fiber Type (Carbon Fiber Composites, Ceramic Fiber Composites, Glass Fiber Composites, Others), Matrix Type (Polymer Matrix, Ceramic Matrix, Metal Matrix), Application (Interior and Exterior), Manufacturing Process (AFP/ATL, Lay-up, Resin Transfer Molding, Aircraft Type (Commercial Aircrafts, Business & General Aviation, Military Aircrafts, Civil Helicopters, Others)) and Region (Europe, North America, APAC, Latin America, and MEA).
Porter’s Five Forces analysis, along with the drivers, restraints, opportunities, and challenges, are discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global aerospace composites.
Key benefits of buying the report:
The report will help market leaders/new entrants in this market in the following ways: 1. This report segments the global aerospace composites comprehensively. It provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions. 2. The report helps stakeholders understand the pulse of the aerospace composites industry and provides them with information on key market drivers, restraints, challenges, and opportunities. 3. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem and expansion.
Reasons to buy the report: The report will help market leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall aerospace composites and the sub-segments.It will help stakeholders to understand the competitive landscape and gain more insights to position their businesses and market strategies in a better way.
The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, opportunities, and challenges.
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