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Global Aerospace Composites Market Forecasts | 2023-2028
Global Aerospace Composites Market Size, Share, Trend, Forecast, Growth & Industry Analysis | 2023-2028
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.
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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.
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Global Aerospace Composites Market Highlights |
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Market Size in 2022 |
US$ 29.40 Billion |
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Market Size in 2028 |
US$ 57.11 Billion |
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Market Growth by 2023-2028 |
CAGR of 11.7% |
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Base Year of Study |
2022 |
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Trend Period |
2017-2021 |
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Forecast Period |
2023-2028 |
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Dominant Region |
Asia-Pacific is expected to remain the dominant as well as the fastest-growing region in the market. |
Some of the major players in the global market are-
The global market is driven by several key factors, including:
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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.
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Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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
By Resin Type
By Aircraft Type
By Manufacturing Process Type
By Application Type
By Region
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?
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Key questions this report answers |
Relevant contents in the report |
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How big is the sales opportunity? |
In-depth analysis of the aerospace composites market. |
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How lucrative is the future? |
The market forecast and trend data and emerging trends. |
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Which regions offer the best sales opportunities? |
Global, regional, and country-level historical data and forecasts. |
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Which are the most attractive market segments? |
Market Segment Analysis and Forecast. |
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What are the top players and their market positioning? |
Competitive landscape analysis, Market share analysis. |
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How complex is the business environment? |
Porter’s five forces analysis, PEST analysis, and Life cycle analysis. |
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What are the factors affecting the market? |
Drivers & challenges. |
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Will I get the information on my specific requirements? |
10% free customization. |
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.
The following is a list of the customers that the market aims to convert the most:
Critical Questions Answered in the Report
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
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 to sales@stratviewresearch.com.
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 Group—The 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.
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