The future of the global aerospace composite materials market looks promising with opportunities in commercial aircraft, regional aircraft, general aviation, helicopter, and military aircraft markets. The global aerospace composites materials market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $3.3 billion by 2025 with a CAGR of 5% to 7% from 2020 to 2025. The major drivers for this market are growing demand for lightweight materials to increase fuel efficiency and growth of aircraft with high composites penetration such B787 and A350WXB.
An emerging trend, which has a direct impact on the dynamics of the industry, includes the recycling of advanced composites. Hexcel, Cytec Solvay Group, Toray, Gurit, and Teijin are among the major suppliers of aerospace composites materials.
A total of 174 figures / charts and 48 tables are provided in this 311-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of aerospace composite material market report download the report brochure.
The study includes a forecast of the growth opportunities for the composites in the global aerospace market by aircraft type, reinforcement type, manufacturing process, type of structure, component, and region as follows:
By Aircraft Type [Volume (M lbs) and Value ($ Million) from 2014 to 2039]:
- Commercial Aircraft
- Military Aircraft
- Regional Aircraft
- General Aviation
By Reinforcement Type [Volume (M lbs) from 2014 to 2025]:
- Carbon Composites
- Glass Composites
- Aramid Composites
By Manufacturing Process [Volume (M lbs) from 2014 to 2025]:
- Compression Molding
- Injection Molding
- Hand Layup
By Type of Structure [Volume (M lbs) and Value ($ Million) from 2014 to 2025]:
- Primary Structure
By Component [Volume (M lbs) from 2014 to 2025]:
- Rotor Blade
- Landing Gear
By Region [Volume (M lbs) and Value ($ Million) from 2014 to 2025]:
- North America
- Asia Pacific
Some of the aerospace composite materials companies profiled in this report include Hexcel, Cytec Solvay Group, Toray, Gurit, and Teijin.
In this market, carbon fiber, glass fiber, and aramid fiber are used to fabricate various aircraft components. On the basis of our comprehensive research, Lucintel forecasts that carbon fiber based composites will remain the largest market during the forecast period. Increasing penetration of carbon composites in commercial aircraft, such as B787 and A350XWB is expected to drive the demand for this segment over the forecast period from 2020 to 2025.
Within the aerospace composites market, commercial aircraft will remain the largest market by value and volume consumption followed by military aircraft.
By type of structure, primary structure will remain the largest market by value and volume due to higher composite consumption.
North America will remain the largest region during the forecast period due to a higher demand for newer aircraft and the ongoing replacement of an aging fleet.
Features of Composites in the Global Aerospace Market
- Market size estimates: Composites in the global aerospace market size estimation in terms of value ($M) and volume (M lbs) shipment.
- Trend and forecast analysis: Market trend (2014-2019) and forecast (2020-2025) by component type, structure type, aircraft type, reinforcement and manufacturing process type.
- Segmentation analysis: Composites in the global aerospace market size by various segments, such as aircraft type, type of structure, in terms of value shipment.
- Regional analysis: Composites in the global aerospace market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth opportunities: Analysis on growth opportunities in different segments and regions for composites in the global aerospace market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers following 11 key questions
Q. 1. How big are the opportunities for composites in the global aerospace market by aircraft type (commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, others), by reinforcement type (carbon composites, glass composites, aramid composites, others), manufacturing process (hand lay-up, AFP/ATL, RTM, injection molding, compression molding, others), type of structure (primary structure interior, engine, others), component (wing, fuselage, empennage, engine, interior, rotor blade, radome, landing gear, others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which product segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q. 11. What M&A activity has occurred in the last have years and what has its impact been on the industry?