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Aerospace Composites Market | Covid-19 Impact Analysis
The Aerospace Composites Market is Segmented by Fiber Type (Carbon Fiber, Ceramic Fiber, Glass Fiber, and Others), by Resin Type (Epoxy, Phenolic, Polyester, Polyimide, Thermoplastic, Ceramic and Metal, and Others), by Aircraft Type (Commercial Aircraft, Business and General Aviation, Civil Helicopters, Military Aircraft, and Others), by Manufacturing Process Type (AFP/ATL, Lay-Up, RTM, Filament Winding, and Others), by Application Type (Interior, Exterior), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Aerospace composites market is likely to witness an impressive CAGR of 8.5% during the forecast period. The prime factor that is contributing to the growth of the market is mainly the increasing usage of aerospace composite fabrics in various aircraft, such as commercial, regional, and military aircraft.
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Aerospace Composites Market - Snapshot |
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Growth |
8.5% for the next five years |
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Major Fiber Type |
Carbon Fiber |
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Dominant Aircraft Type |
Commercial Aircraft |
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Region with the highest demand |
North America |
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Key Players |
Solvay S.A., Hexcel Corporation, Royal Tencate N.V., Teijin Limited, Toray Industries, Inc., SGL Group—The Carbon Company, Owens Corning, Materion Corporation, Mitsubishi Rayon Co. Ltd., and Renegade Materials Corporation |
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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 2019, 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, weather-resistance, and offers a variety in surface textures.
Based on the aircraft type, the aerospace composites 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.
In terms of regions, North America is estimated to be the largest as well as the fastest-growing aerospace composites market during the forecast period, with lucrative growth opportunities. The growth of the market is driven by the increasing usage of composite material in the 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. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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Some of the major players in the aerospace composites market are-
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 withhold against high impact load.
This report studies the market covering a period of 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.
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Aerospace Composites Market Research Report - Features |
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Market Segmentation |
6 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The aerospace composites market is segmented into the following categories.
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This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, 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 the qualitative and quantitative insights.
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 the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
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 at [email protected].
Driven by the factors like increasing usage of aerospace composite fabrics in various aircraft, such as commercial, regional, and military aircraft, the aerospace composites market is expected to grow at a CAGR of 8.5% in the foreseeable future.
The commercial aircraft segment is expected to remain dominant aircraft type in the aerospace composites market.
Owen Corning, Solvay S.A., Hexcel Corporation, Royal TenCate N.V., Teijin Limited, and Toray Industries, Inc. are among the key players in the aerospace composites market.
North America is expected to remain the largest market for aerospace composites in the coming five years.
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