Research Nester published a report titled “Aerospace Composites Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of theglobalaerospace composites market in terms of market segmentation by fiber type, aircraft type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global aerospace composites market is estimated to occupy a large amount of revenue by growing at a CAGR of ~10% during the forecast period, i.e., 2022 – 2031, ascribing to the growing demand for composite materials from the aerospace industry globally owing to the high tensile strength and low weight of these materials. Along with this, escalating replacement of aging aircrafts with fuel-efficient ones, and increasing military spending around the world are also expected to accelerate the growth of the market in the forthcoming years.
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The market is segmented by fiber type and aircraft type. Based on fiber type, the carbon segment is anticipated to acquire the largest share during the forecast period on the back of largescale adoption of carbon fiber composites for making engine nacelles, fans, wings and floorboards. Additionally, by aircraft type, the military aircraft segment is projected to grab the largest share over the forecast period attributing to the high need for materials which are lightweight, durable and temperature-resistant for making components of military aircrafts.
Geographically, the global aerospace composites market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to grab the largest share in the market during the forecast period attributing to the growing usage of aerospace composites in the military and commercial aircraft industries in the region. Moreover, the market in Europe is assessed to acquire a notable share in the future owing to the largescale manufacturing and global shipment of commercial aircrafts in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Growing Demand for Composite Materials from Aerospace Industry Worldwide to Bolster Market Growth
Since the last few years, composite materials are extensively being used as sandwich structures in interior and exterior applications in the aerospace industry. This can be attributed to the low-weight and high tensile strength of these materials, which in turn increase the fuel efficiency and reduce maintenance costs of aircrafts. It is predicted to drive significant growth to the market in the near future.
However, recyclability issues associated with aerospace composites is expected to operate as key restraint to the growth of the global aerospace composites market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global aerospace composites market which includes company profiling of Hexcel Corporation, Materion Corporation, SGL Group, Renegade Materials Corporation, Toray Industries, Inc., Solvay SA, Teijin Limited, BASF SE, DuPont de Nemours, Inc., Koninklijke Ten Cate B.V., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global aerospace composites market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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