IntroductionValued at US$ XX in 2017, the global aerospace composites market is projected to reach a value of US$ XX by 2022, registering a CAGR of XX%. This level of growth in the market comes amidst factors that have been weighing down the importance of lighter substitutes (such as those made from carbon fibre) to full metal alternatives in aircraft designs, helping decrease fuel consumption and increasing load capacity.
Aerospace composites boast higher strength and lighter weight, due to which they are seen as favourable substitutes to conventional aluminium counterparts. Composites are often used to make exterior structures such as wings, undercarriages, and fuselages. Manufacturers have started taking to composites, especially for exterior structures, owing to how they help model wide base aircrafts that boast better fuel efficiency.
With the growing demand for aircrafts worldwide and modern models exhibiting higher significant percentages of composite utilisation in airframe structures, the aerospace composites market will witness a healthy growth throughout the forecast period.
With end-users shifting their focus towards the necessity for better quality composites, manufacturers are now trying to provide retrofit solutions and upgrades while striving to maintain equilibrium between quality and costs. Also, recent concerns towards preserving ecological integrity have influenced governments to introduce regulatory reforms favouring eco-friendly composites. This comes as an added advantage to the market and its growth opportunities in the future, especially since the carbon fibre segment being the largest segment in the market.
The global aerospace composites market can be segmented on the basis of application into glass fibre, carbon fibre, and aramid fibre. Carbon fibre is observed to have the largest market share and is expected to grow at the highest CAGR in the market. Composites made of carbon fibre have long replaced aluminium counterparts in upcoming models, with composites that are fashionable for both primary as well as secondary aircraft structures.
Regionally, the global aerospace composites market is segregated into three major segments – Asia-Pacific, Americas, and Europe, Middle-East and Asia (EMEA).
- The Americas dominate in terms of total market share, specifically the North American sub-segment. This is attributed to high demand, regulatory norms in favour of eco-friendly composites (such as carbon-fibre), and presence of large number of composite manufacturers.
- Asia-Pacific has been faring very well in recent times, owing to increased adoption of automated manufacturing in the region. This has brought about tremendous progress in the industry and has helped segregate the Asian vendors from others by their sophisticated and technologically advanced production method. With this taken into account, Asia-Pacific is expected to fair really well during the forecast period, and might even emerge as the fastest growing regional segment in the market.
Key players in the market include Cytec Industries, Owens Corning, Mitsubishi Rayon, Hexcel, Hartzell Aerospace, Hyosung, Koninklijke Ten Cate, Kaman, Teijin Aramid, and SGL Group.
- Aerospace Composites Market segments
- Aerospace Composites Market Drivers, Restraints and Opportunities
- Aerospace Composites Market Size & Forecast 2016 to 2022
- Supply & Demand Value Chain
- Aerospace Composites Market – Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
- North America
- US and Canada
- Latin America
- Mexico, Brazil, Argentina and Rest of Latin America
- Western Europe
- EU5 (Germany, France, Italy, Spain, U.K.)
- Nordic Countries (Denmark, Finland, Norway, and Sweden)
- Benelux (Belgium, The Netherlands, and Luxembourg)
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Middle East and Africa
- GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
- South Africa
- North Africa
- Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- Market Segmentation
- Estimated Market Sizing in terms of volume and value
- Recent trends in Aerospace Composites Market and impact
- Research Status and Technology Overview
- Extensive Industry Structure Coverage