Composites Market In The Commercial Aircraft Report | Covid-19 Impact Analysis
Composites Market in the Commercial Aircraft Engines Industry is Segmented by Aircraft Type (Narrow Body, Wide Body, and Very Large Aircraft), by Engine OEM (CFM, GE Aviation, Pratt & Whitney, Rolls Royce, IAE, Engine Alliance, and Others), by Material Type (Glass Composites, Carbon Composites, and Aramid Composites), by Manufacturing Process (Prepreg Layup, RTM, and Others), By Region (North America, Europe, Asia-Pacific, and Rest of the World)
Composites Market in the Commercial Aircraft Engines Industry is Segmented by Aircraft Type (Narrow Body, Wide Body, and Very Large Aircraft), by Engine OEM (CFM, GE Aviation, Pratt & Whitney, Rolls Royce, IAE, Engine Alliance, and Others), by Material Type (Glass Composites, Carbon Comp...
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy 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.
Composites offer many advantages over metals, such as lightweight, superior strength, higher durability, and ability to withstand extreme temperature. The history of composites in the aerospace and defense industry is over five decades old when major applications were limited to control surfaces only.
As global airline industry started evolving, the competition among players and the concern regarding saving the environment began rising. To remain competitive in the market, airline companies started demanding those aircraft that offer higher fuel efficiency, lower carbon emission, lower noise, lower maintenance cost, and higher passenger safety.
The composites’ excellent performance over the decades compelled OEMs to leverage its potential to address the airline’s demands. Major OEMs started incorporating high amount of composites (upto 50%) in most of the major structural applications like fuselage and wings in next generation aircraft. For instance, Boeing incorporated composites up to 50% of the total structural weight of the aircraft in its next generation aircraft, B787. Composites rich aircraft B787 provides 20% more fuel efficiency, 20% reduction in carbon emission, 30% reduction in maintenance cost and 5% reduction in noise than similar sized aircraft which has high metal content.
Aerospace engine OEMs are moving in tandem with the aircraft OEMs and are continuously looking for advanced materials for making engines lighter, durable, and have high fatigue performance. They started innovating by replacing traditional materials with composites in many applications. In the last 10 years, the industry noticed many new composite applications in the engine, such as fan blades and fan case.
The composite materials market in commercial aerospace engine industry offers a healthy growth opportunity and is likely to grow at a healthy CAGR during the forecast period of 2020 to 2025. Robust growth in commercial aircraft deliveries and increasing composites penetration in the aircraft engine and nacelles, mainly in fan blade, fan case, thrust reverser, and cowl are the key growth drivers of the composite materials in the global commercial aerospace engine market.
Narrow body aircraft is expected to remain growth driver of the composite materials in the commercial aerospace engine market during the forecast period. Carbon composites are likely to experience the fastest growth in the next five years.
North America is expected to remain the largest market for composite materials in commercial aerospace engine being the manufacturing base of major engine OEMs and commercial aircraft OEMs.
The supply chain of this market comprises raw material manufacturers, composites component manufacturers, engine OEMs, Aircraft OEMs, and Airlines. The key aerospace engine OEMs are CFM, GE Aviation Engines, Rolls Royce, Pratt & Whitney, and IAE. Commercial Aircraft OEMs are Boeing, Airbus, COMAC, and Irkut.
The composite products are produced by independent manufacturers as well as engine OEMs. Many engine manufacturers have in-house composites manufacturing capacity, such as GE Aircraft Engines, which has facilities in the US. The key composite part manufactures in commercial aerospace engine market are Albany Engineered Composites, FACC AG, Aircelle, and GKN Aerospace. New product development, regional expansion, and long term contacts are the key strategies adopted by key players to gain competitive edge in the market.
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Trend & Forecast Period
North America, Europe, Asia-Pacific, Rest of the World
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The market is segmented in the following ways:
Composites Market in the Commercial Aircraft Engines Industry Size, Share & Forecast by Aircraft Type:
Composites Market in the Commercial Aircraft Engines Industry Size, Share & Forecast by Engine OEM Type:
Composites Market in the Commercial Aircraft Engines Industry Size, Share & Forecast by Fiber Type:
Composites Market in the Commercial Aircraft Engines Industry Size, Share & Forecast by Process Type:
Composites Market in the Commercial Aircraft Engines Industry Size, Share & Forecast by Region:
This report, from Stratview Research, studies the composites opportunity in the global commercial aerospace engine market over the period 2014 to 2025. The report provides detailed insights on 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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Albany Engineered Composites, FACC AG, Aircelle, and GKN Aerospace are among the key players in the market.
North America is expected to remain the largest Composites Market in the Commercial Aircraft Engines Industry during the forecast period of 2020-25.
Narrow body aircraft is expected to remain growth driver of the composite materials in the commercial aerospace engine market during the next five years.
Carbon composites are likely to experience the fastest growth in the next five years.
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