Aerospace & Defense Thermoplastic Composites Market Report

Market Insights

“The global aerospace & defense thermoplastic composites market size was US$ 330 million in 2023 and is likely to grow at a robust CAGR of 14.8% in the long run to reach US$ 870 million in 2030.”

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Introduction

Thermoplastic composite materials are considered excellent materials for current and future aircraft components. Years of R&D and continuous efforts assisted the industry stakeholders in replacing not only various metallic parts but also thermoset composite parts. From being used in nominal and non-crucial areas of application, to being a part of the most high-performance applications such as fuselages, composites have had a striking and prodigious journey in the aerospace industry.

Market Drivers

Increasing demand for weight reduction to improve fuel economy and reduction in carbon emissions in the aerospace industry, increasing penetration of composites in modern aircraft programs, and low processing cost coupled with the advantage of recyclability of thermoplastic composites over thermoset composites are some of the key factors driving the demand.

Technological Advancements and Growth Prospects in the A&D Thermoplastic Composites Market

The market is highly impacted by new technological advancements, production rates of aircraft, FAA regulations, and other factors. Major players have been working hard for advancements in the existing thermoplastic materials. There has also been a development of a unidirectional carbon prepreg, which further allows weight savings through high fiber content and can be fabricated with an automated production process for high-volume production.

The A&D industry is on the road to recovery from the grave aftermath of the pandemic, the impact of which can also be seen in the A&D thermoplastic composites market. The A&D thermoplastic composites market is likely to grow at a promising CAGR of 14.8% during 2024-2030 to reach US$ 870 million in 2030. Besides the current demand from composite-rich aircraft B787 and A350, the future holds many possibilities. The ongoing and upcoming projects and collaborations of the big guns, exerting ardent efforts towards expanding the horizons of thermoplastic composites usage for large aircraft parts is going to add consequential impetus to the demand in the coming years.

Segment Analysis

Aircraft Trends

“Commercial aircraft segment accounted for the largest and fastest-growing market share."

The A&D thermoplastic composites market is segmented into commercial aircraft, general aviation, military aircraft, and others. Commercial aircraft are expected to remain dominant as well as the fastest-growing aircraft type in the market during the forecast period. On the B787 aircraft, thermoplastic composites are used to provide localized reinforcement between some of the fuselage frames, in the form of shear webs (about 150 per aircraft). On average, about 8,000 clips are used in an A350XWB aircraft, whereas there are 10,000 to 15,000 such clips and cleats in a B787 aircraft. Both Airbus and Boeing aircraft have undergone a massive transformation in their aircraft material mix over the years. The latest aircraft have ≥50% composites. They are used on the fuselage, wings, and stabilizers, making the aircraft incredibly strong and yet much lighter. Over the years, Airbus has progressively used thermoplastic materials and welding on structural applications on several aircraft: A340, A380, A350, and military applications.

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Resin Trends

“PEEK-based composites segment accounted for the largest and fastest-growing market share."

The market is segmented into PPS-based composites, PEEK-based composites, PEI-based composites, and other composites. PEEK-based composites are expected to remain the dominant and fastest-growing resin of the market during 2024-2030. PEEK composites offer an exceptional combination of benefits aiding aerospace OEMs, designers, and processors to attain cost savings, quality, and performance. They help lower weight, improve buy-to-fly ratios, and provide design freedom to optimize the design. PEEK is often used with carbon fiber to fabricate clips, cleats, brackets, clamps, and connectors. Clean Sky 2’s OUTCOME project has tested and validated a sustainable manufacturing process for producing a stiffened thermoplastic composite upper skin for the external wing box of Airbus C-295 aircraft.

Application Trends

“Airframe is expected to remain the most attractive application of the market by 2030.”

For airframe, PPS resin is the most widely used resin and carbon fiber is the most widely used reinforcement, whereas; for interior PEI and glass fiber are the preferred resin and reinforcement types, respectively. Airframe is expected to remain the most attractive application of the market by 2030. Key application areas in the airframe segment are clips, cleats, leading edges, panels for the fuselage, shear webs, stringers, ribs, rudders, and elevators. There is also growing interest in thermoplastic composites in interiors with floor panels, brackets, profiles, and seat backs being key applications. Ardent efforts toward leveraging the full potential of thermoplastic composites for structural applications are likely to give a thrust to the segment’s growth. In 2020, Victrex Collaborated with Daher to produce a 176-ply laminate structural aircraft panel, a thickness of 32 mm. utilizing VICTREX AE™ 250 LMPAEK composite. This may offer key advantages for the industry in primary structural applications.

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Regional Insights

"Europe held the largest market share."

Europe is anticipated to remain at the forefront throughout the forecast period, whereas North America is likely to grow at the highest rate by 2030. Europe to hold its unassailable lead in the coming years (56.1% share, value basis, in 2023). Airbus surpassed Boeing in terms of deliveries, winning the deliveries crown for the fifth consecutive year. This ultimately fuels the European market. Key players: GKN Aerospace (Fokker Aerostructure), Premium Aerotec, Daher, and Dutch Thermoplastic Composites (now part of Collins Aerospace). The A350XWB is using a huge amount of thermoplastic composite parts, mainly in the fuselage. The increase in the footprint of European players in the USA is driving North America's market. Daher is making its presence by developing a relationship with Gulfstream Aerospace for supplying thermoplastic parts for the wing and fuselage for some of the programs.

Key Players

The market is highly consolidated with the presence of <50 players globally. Most of the major players compete in some of the governing factors, including price, service offerings, regional presence, etc. Some of the major players maintain a presence in multiple nodes of the supply chain. The following are the key players in the A&D thermoplastic composites market:

Here is the list of the Top Players (Based on Dominance):

• GKN Aerospace
• Premium AEROTEC GmbH
• Daher
• Collins Aerospace
• Avanco Group

Note: The above list does not necessarily include all the top players of the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

The global A&D thermoplastic composites market is segmented into the following categories:

By Aircraft Type

• Commercial Aircraft
• General Aviation
• Military Aircraft
• Others

By Resin Type

• PPS-based Composites
• PEEK-based Composites
• PEI-based Composites
• Others

By Application Type

• Airframe
• Interiors
• Others

By Fiber Type

• Carbon Fiber-based Composites
• Glass Fiber-based Composites

By Consolidation Type

• Press Molding
• Bagging
• Injection Molding

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Latin America, The Middle East, and Others)

Research Methodology

This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s A&D thermoplastic composites market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

Recent Market Developments

Recent Market JVs and Acquisitions:

A huge number of strategic alliances including M&As, JVs, etc. have been performed over the past few years:

• 2018: Melrose Industries acquired GKN Aerospace.
• 2019: Daher acquired KVE Composites.
• 2019: Liberty Hall Capital Partners sold AIM Aerospace to SEKISUI Aerospace.
• 2021: Collins Aerospace acquired Dutch Thermoplastic Composites.
• 2021: ACP acquired Triumph Group's Composites Business.
• 2022: Daher acquired AAA, Stuart Composites, and Triumph Composites' Florida facility.
• 2023: Solvay separated into SOLVAY and SYENSQO.

Collaborations and Partnerships:

A huge number of strategic collaborations are ongoing towards the research & development of thermoplastic composites for broader applications:

• In 2022, Syensqo and GKN Aerospace: Have signed an extension to their 2017 collaboration agreement. They aim to develop a TPC roadmap to explore new materials and manufacturing processes for aerospace structures.
• GKN Fokker, NLR, Delft University of Technology, and SAM|XL, have successfully manufactured one of the world’s largest thermoplastic components as part of the Multi-Functional Fuselage Demonstrator (MFFD) project led by Airbus.
• 2020: GKN is also a part of the Dutch Consortium to develop, demonstrate, and market an innovative, sustainable, and cost-effective manufacturing process for thermoplastic aerospace components.