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
- Solvay
- Teijin Limited
- Toray Industries Inc.
Market Segmentation:
Breakup by Fiber Type:
- Carbon Fiber Composites
- Ceramic Fiber Composites
- Glass Fiber Composites
- Other Fiber Composites
Breakup by Resin Type:
- Epoxy
- Phenolic
- Polyester
- Polyimides
- Thermoplastics
- Ceramic and Metal Matrix
- Others
Breakup by Aircraft Type:
- Commercial Aircraft
- Business Aviation
- Civil Helicopters
- Military Aircraft & Helicopters
- Others
Breakup by Application:
- Interior Parts
- Exterior Parts
Breakup by Manufacturing Process:
- AFP/ATL
- Layup
- RTM/VARTM
- Filament Winding
- Others
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
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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Global Aerospace Composites Market Report Information by Type (Glass Fiber, Carbon Fiber, Aramid Fiber, and Others), by Applications (Commercial and Military), and by Region - Forecast to 2023.Market Scenario:Composite materials are used for various purposes in the aircraft industry.
Aerospace composites are used in various aircraft frames, such as wings, aircraft interiors, and fuselage as these can sustain extreme operating conditions, including high temperature, high stress, shocks, and impact loads.Get Report Sample : https://www.marketresearchfuture.com/sample_request/1242 Nearly 55% of the new Airbus aircraft A350XWB is manufactured using aerospace composite materials as compared to old aircraft, which used only 2–5% aerospace composites.
The use of composites in the aerospace industry is mainly to reduce the overall weight and corrosion in the aircraft body.
In addition to this, maintenance costs for aircraft manufactured using aerospace composites have reduced drastically in comparison to the maintenance costs for aircraft manufactured using traditional materials.The usage of carbon fiber composites is estimated to account for 75% of the total composites used in manufacturing aircraft.
The reason behind this is their insubstantial weight, high strength property, weather-resistant finish, and different surface textures.Composite material have many advantages, such as excellent fatigue and corrosion resistance property, strength-to-weight ratio is high and composites also withholds against high impact load.
Reduction in weight is particularly important in a market environment with high fuel prices and stringent aircraft emissions standards.
The Global Aerospace Composites Market research report offers accurate insights for the growth prospects of the Aerospace Composites market in the forecast years 2020-2027.
The report is an all-inclusive study of the Aerospace Composites market that offers the readers a better view of the current and emerging market trends through a thorough analysis of the market size, growth trends, supply and demand ratio, market share, sales network and distribution channels, and other key elements.Furthermore, the report is furnished with the current market scenario with regards to the COVID-19 pandemic.
The global public health emergency has disrupted the lives of everyone across the globe.
It has also had a substantial impact on the Aerospace Composites industry as global supply chains have been disrupted, and the financial scenario is tight.
The report assesses the initial and future impact of the pandemic on the market and its key segments to offer an accurate futuristic outlook for remuneration in a post-COVID-19 scenario.Get a sample copy of the report @ https://www.reportsanddata.com/sample-enquiry-form/3162Scope of the Market Report:The report offers a holistic overview of the Aerospace Composites industry that offers all the essential information.
The report is formulated by extensive primary and secondary research and backed by the verified data from industry experts and professionals.
The global aerospace composites market reached a value of US$ 37.6 Billion in 2019.
Aerospace composites refer to reinforced carbon-, ceramic-, and glass-based fibers, present in a rigid resin matrix.
The composites demonstrate high mechanical strength and low density that make them suitable for manufacturing structural and utility components of the aircraft.
Aerospace composites are preferably used in propellers, seats, wing assemblies, rotor blades, helicopters, etc.
The composites exhibit flexibility in manufacturing complex shapes, fiber toughness, and resistance to fatigue and corrosion, along with enhancing the engine's efficiency.
Request for a free sample copy of this research report: https://www.imarcgroup.com/aerospace-composites-market/requestsampleLooking forward, IMARC Group expects the global aerospace composites market to exhibit moderate growth during the next five years.
