According to IMARC Group’s latest report, titled “Aerospace Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global aerospace composites market reached a value of US$ 40.3 Billion in 2020. Aerospace composites refer to the reinforced carbon, ceramic, and glass-based fibers found in a strong resin matrix. They are widely utilized in propellers, seats, wing assemblies, rotor blades, and instrument enclosures of passenger airlines, fighter planes, helicopters, etc. These composites exhibit low density and high mechanical strength, which are beneficial characteristics for manufacturing both the structural and utility components of the aircraft. An aerospace composite also demonstrates flexibility in producing complex shapes, fiber toughness, resistance to fatigue and corrosion, etc., which assists it in improving the efficiency of the engine.
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The expanding aviation and aerospace industry is one of the primary factors driving the aerospace composites market across the globe. Moreover, the rising need to develop fuel-efficient aircraft, owing to the soaring aviation fuel prices and the increasing pollution levels, is further propelling the product demand. Besides this, the escalating air traffic and tourism activities, especially in emerging economies, are acting as significant growth-inducing factors. Additionally, the growing popularity of space exploratory activities using drones, spaceships, aircraft, etc., is also augmenting the global market since composites can protect the equipment against damages caused by accidents, climatic changes, collisions, etc. In the coming years, various favorable policies implemented by government bodies to enhance air transport infrastructures, increase trade activities, support research and development (R&D), etc., are expected to fuel the aerospace composites market. Looking forward, IMARC Group expects the aerospace composites market to grow at a CAGR of 6.4% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Bally Ribbon Mills
- Hexcel Corporation
- Materion Corporation
- Mitsubishi Chemical Holding Corporation
- Renegade Materials Corporation
- Koninklijke Ten Cate B.V.
- SGL Carbon SE
- Teijin Limited
- Toray Industries Inc.
Breakup by Fiber Type:
- Carbon Fiber Composites
- Ceramic Fiber Composites
- Glass Fiber Composites
- Other Fiber Composites
Breakup by Resin Type:
- Ceramic and Metal Matrix
Breakup by Aircraft Type:
- Commercial Aircraft
- Business Aviation
- Civil Helicopters
- Military Aircraft & Helicopters
Breakup by Application:
- Interior Parts
- Exterior Parts
Breakup by Manufacturing Process:
- Filament Winding
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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