• Blog
  • Global Aerospace Composites Market Forecasts | 2023-2028

    Global Aerospace Composites Market Forecasts | 2023-2028

    Global Aerospace Composites Market Forecasts | 2023-2028
    Report code - SRAD310 Delivery - 2 Weeks
    Global Aerospace Composites Market Size, Share, Trend, Forecast, Growth & Industry Ana See more...

    Market Insights

    The Global Aerospace Composites Market is expected to grow from US$ 29.40 billion in 2022 to US$ 57.11 billion by 2028 at a healthy CAGR of 11.7% during the forecast period of 2023-2028.

    Aerospace Composites Market Size (2022-2028)

    Want to know more about the market scope? Register Here.

    Composite materials are used in various applications in the aerospace & defense industry. They possess various properties such as lightweight, high strength, weather-resistant finish, and different surface textures.

    Composite materials also offer a host of other advantages, such as excellent fatigue and corrosion-resistant properties, high strength-to-weight ratio, and the ability to withstand high-impact load.

    Global Aerospace Composites Market Highlights

    Market Size in 2022

    US$ 29.40 Billion

    Market Size in 2028

    US$ 57.11 Billion

    Market Growth by 2023-2028

    CAGR of 11.7%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Dominant Region

    Asia-Pacific is expected to remain the dominant as well as the fastest-growing region in the market.

    Key Players

    Some of the major players in the global market are- 

    • Owen Corning
    • Solvay S.A.
    • Hexcel Corporation
    • Royal Tencate N.V.
    • Teijin Limited
    • Toray Industries Inc.
    • SGL Group—The Carbon Company
    • Materion Corporation
    • Mitsubishi Rayon Co. Ltd.
    • Renegade Materials Corporation

    Market Drivers

    The global market is driven by several key factors, including:

    • Growth in commercial aviation: The growth of the commercial aviation industry is a major driver of demand for aerospace composites. As air travel continues to increase, airlines are investing in new aircraft that utilize more composites to improve fuel efficiency and reduce maintenance costs.
    • Increased demand for military aircraft: The increased demand for military aircraft is also driving the demand for aerospace composites. Military aircraft require high-performance materials that can withstand harsh conditions, and composites are well-suited for these applications.
    • Growing demand for unmanned aerial vehicles (UAVs): The growing demand for UAVs, also known as drones, is also driving the demand for aerospace composites. UAVs are increasingly being used for a variety of applications, including military reconnaissance, commercial surveillance, and agriculture.
    • Technological advancements: Technological advancements in composite materials and manufacturing processes are making it possible to produce more affordable and high-performance aerospace composites. This is further driving the adoption of composites in the aerospace industry.

    Aerospace Composites Market Snapshot

    To get the full scope of the report, Register Here.

    Segments' Analysis

    Fiber Trends

    Based on the fiber type, the market is segmented as carbon fiber, ceramic fiber, glass fiber, and others.

    The carbon fiber segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. The increasing demand for carbon fiber in the aerospace & defense industry is driving the growth of this segment. Carbon fiber possesses various properties such as high inherent strength, lightweight, and weather resistance, and offers a variety of surface textures.

    Aircraft Trends

    Based on the aircraft type, the market is segmented as commercial aircraft, business and general aviation, civil helicopters, military aircraft, and others.

    The commercial aircraft segment dominates the market, as the latest aircraft program, A350XWB, uses a significantly larger amount of aerospace composite material, compared to older aircraft programs, which use only 2-5% of the material. Further, various factors such as high corrosion resistance, low maintenance cost, and lightweight are fueling the growth of the segment during the forecast period.

    Region Analysis

    North America is estimated to be the largest as well as the fastest-growing market during the forecast period, with lucrative growth opportunities.

    The growth of the market is driven by the increasing usage of composite material in commercial and military aircraft. Further, the presence of a large number of aircraft manufacturers and mass production of aerospace parts using aerospace composites are bolstering the growth of the market in the North American region.

    Aerospace Composites Market Region

    Want to know which region offers the best growth opportunities? Register Here.

    Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

    Segmentation

    This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The global aerospace composites market is segmented into the following categories.

    By Fiber Type

    • Carbon Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Ceramic Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Glass Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By Resin Type

    • Epoxy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Phenolic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Polyester (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Polyimide (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Thermoplastic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Ceramic and Metal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Resin Type Analysis: Benzoxazine, Cyanate Ester, and Bismalimide (BMI))

    By Aircraft Type

    • Commercial Aircraft
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Aircraft Type Analysis: Single Aisle Aircraft, Wide-body Aircraft, and Regional Jets)
    • Business and General Aviation
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Aircraft Type Analysis: Business Jet and Piston & Turboprop)
    • Civil Helicopters (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Aircraft Type Analysis: Unmanned Aerial Vehicles (UAV) and Spacecraft)

    By Manufacturing Process Type

    • AFP/ATL (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Lay-Up (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • RTM (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Filament Winding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By Application Type

    • Interior
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Application Type Analysis: Seats, Cabin, Sandwich Panel, and Environmental Control System (ECS) Ducting)
    • Exterior
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Application Type Analysis: Fuselage, Engine, Wings, Rotor Blades, and Tail Boom)

    By Region

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

    Report Features

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

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the aerospace composites market.

    How lucrative is the future?

    The market forecast and trend data and emerging trends.

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts.

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast.

    What are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis.

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, and Life cycle analysis.

    What are the factors affecting the market?

    Drivers & challenges.

    Will I get the information on my specific requirements?

    10% free customization.

    Research Methodology

    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 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

     

    Target Audience

    The following is a list of the customers that the market aims to convert the most:

    • Manufacturers
    • Suppliers
    • Distributors
    • Organizations
    • Government bodies

    Critical Questions Answered in the Report

    • What are the key trends in the market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Report Customization

    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 3 players)
    • SWOT analysis of key players (up to 3 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.

    Frequently Asked Questions (FAQs)

    The global aerospace composites market is expected to grow from US$ 29.40 billion in 2022 to US$ 57.11 billion by 2028.

    The market is expected to grow at a CAGR of 11.7 % during the forecast period of 2023-2028.

    Some of the major players in the application-specific integrated circuit market are- Solvay S.A., Hexcel Corporation, Royal Tencate N.V., Teijin Limited, Toray Industries, Inc., SGL GroupThe Carbon Company, Owens Corning, Materion Corporation, Mitsubishi Rayon Co. Ltd., and Renegade Materials Corporation.

    North America is estimated to be the largest as well as the fastest-growing market during the forecast period.

    The global aerospace composites market is driven by several key factors, including: 1. Growth in commercial aviation: The growth of the commercial aviation industry is a major driver of demand for aerospace composites. As air travel continues to increase, airlines are investing in new aircraft that utilize more composites to improve fuel efficiency and reduce maintenance costs. 2. Increased demand for military aircraft: The increased demand for military aircraft is also driving the demand for aerospace composites. Military aircraft require high-performance materials that can withstand harsh conditions, and composites are well-suited for these applications. 3. Growing demand for unmanned aerial vehicles (UAVs): The growing demand for UAVs, also known as drones, is also driving the demand for aerospace composites. UAVs are increasingly being used for a variety of applications, including military reconnaissance, commercial surveillance, and agriculture. 4. Technological advancements: Technological advancements in composite materials and manufacturing processes are making it possible to produce more affordable and high-performance aerospace composites. This is further driving the adoption of composites in the aerospace industry.

    •   

      Why are We Class Apart?

      No One Does Better in Aerospace Market Research Than Us

      Largest Number of Premium Studies in Aerospace Industry

      >60% of the First Buyers Come Back to Us

      >95% Client Satisfaction Ratio, the Industry's Highest

      Clients Across Aerospace Value Chain

      Track the Latest Trends in Aerospace Industry

      Know High Growth Opportunities