Aerospace Composites Market size worth over $16bn by 2027

Aerospace Composites Market Size is set to surpass USD 16 billion by 2027, according to a new research report by Global Market Insights Inc.
 

The market is most critical in the overall composite industry owing to multiple regulations pertaining to aerostructures. Commercial aircraft, helicopters, military aircraft, business jets, spacecraft, and general aviation aircraft make generous utilization of composites, inside and outside. With advancements in composites, the aviation sector has switched to composite compounds of carbon filaments, polymers, and metal frameworks. Carbon composites have been successful in giving quality to structures and the aerospace industry.
 

Global industry leaders, such as Airbus and Boeing, are focusing on the commercialization of their wide-body advanced passenger aircraft that use a considerable amount of carbon fibers in their structures, therefore escalating the market demand. Increasing trends of x-ray transparency and low Coefficient of Thermal Expansion (CTE) in composites will further boost the overall product penetration. Moreover, backlog reduction of aircraft deliveries, upcoming aircraft projects, and advancements in carbon fiber production will foster the market growth during the forecast timeline.
 

Continuous research & development to enhance the overall material properties, such as weight reduction and higher durability, will support the overall market expansion over the forecast period. Fibers including glass, carbon/graphite, ceramic, aramid, boron, and lightning protection fibers offer all-weather operation in commercial aircraft along with an enhanced vision system, which will further surge the industry growth. These products offer better stability at high temperatures and longer durability, which in turn, will positively impel the overall industry demand.
 

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The glass fiber is expected to witness 6.5% growth rate through 2027. The aerospace application needs glass to sustain in extreme environmental conditions, providing an optimum illumination depending upon the climate and reducing the overall aircraft maintenance.
 

Browse key industry insights spread across 550 pages with 787 market data tables & 41 figures & charts from the report, “Aerospace Composites Market Size, By Fiber (Glass, Carbon/Graphite, Ceramic, Aramid), By Resin (Thermosetting [Epoxy, Phenolics, Polyester, Polyimides], Thermoplastic [Polyether Ether Ketone, Polysulfone, Polyetherimide]), By Aircraft (Commercial Aircraft, General Aviation [Business Jets, Piston Airplanes {Single-engine Piston, Multi-engine Piston} Turboprop Airplanes {Single-engine Turboprops, Multi-engine Turboprops}, Helicopters {Piston Helicopters, Turbine Helicopters}], Military Aircraft, Space), By Application (Interior, Exterior), COVID-19 Impact Analysis, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/aerospace-composites-market
 

The thermoplastic composites segment is poised to expand at a CAGR of 7% by 2027. Superior toughness, flame resistance, good mechanical properties at elevated temperatures, and low moisture absorption are among the key factors stimulating the overall product penetration. They are widely used in the interior & exterior applications the aerospace components.
 

Military aircraft use epoxy-matrix, a type of aerospace composite, to manufacture the wings of old aircraft, replacing metal wings further supporting the business growth. A wide working temperature range and stability to the overall structure are among the key factors enhancing the overall product demand. Military aircraft need resistance to ballistics and superior impacts coupled with fire, smoke & toxicity performance. Thermoplastics that offer long shelf life are widely used in these applications.
 

Propelling economic conditions are boosting composite usage in aerospace interiors. Increased fuel efficiency, low operating costs, and higher passenger comfort are among the key properties augmenting the market progression. OEM composite interior represents a large volume share attributed to a wide range of applications. A lightweight design offers weight reduction, which is among the key factors influencing the overall product penetration. Lightweight application has improved fuel efficiency by 45% in the past two decades, reducing the overall operating cost of the industry players and thereby driving the market value.
 

The European market to gain significant traction

Europe aerospace composites market is estimated to register growth of over 8% till 2027. Performance improvements in manufacturing along with decreasing market competitiveness are among the key factors spurring the industry expansion. Industry leaders are majorly focusing on commercial aircraft, accounting for over 50% of the total market share. Europe led by France, Germany, and the UK is the major contributor to the industry progression. The increasing trade along with growth in the manufacturing of commercial aerostructures, business jets, and helicopters are among the key factors that are positively accelerating the industry value.
 

Manufacturers focusing on acquisitions and expansion strategies to gain a competitive edge

Major companies functioning in the market include Hexcel, Solvay Group, E.I. DuPont de Nemours, ACT Aerospace, LMI Aerospace, BASF SE, Cytec Industries, Argosy International, Hindustan Aeronautics, and JPS Composite Materials. Strategies including acquisitions, capacity expansion, and agreements are incorporated by key players to gain a significant market position.