The global aerospace composite materials market is expected to reach an estimated $3.9 billion by 2022 and is forecast to grow at a CAGR of 5.3% from 2017 to 2022.
According to a new market report published by Lucintel, the future of the global aerospace composite materials market looks attractive with opportunities in commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and others.
The global aerospace composites end product market is expected to reach an estimated $17.6 billion by 2022. The major growth drivers for this market are increasing demand of lightweight materials to increase the fuel efficiency, growth of aircraft with high composite penetration such B787, A350WXB, and A380, and increasing use of composite in aftermarket.
In this market, carbon fiber, glass fiber, and aramid fiber are the major fiber used to fabricate various aircraft components. On the basis of our comprehensive research, Lucintel forecasts that carbon composites will show above average growth during the forecast period.
Increasing penetration of carbon composites in commercial aircraft such as B787, A350XWB, and A380 is expected to spur growth for this segment over the forecast period from 2017 to 2022.
By aircraft type, commercial aircraft is expected to remain the largest market by value and volume consumption followed by military aircraft.
By type of structure, primary structure is expected to remain the largest market by value and volume due to high composite consumption and new aircraft model with higher composite penetration in structural parts.
North America is expected to remain the largest region during the forecast period due to high demand for newer aircraft and the ongoing replacement of an aging fleet.
Emerging trends, which have a direct impact on the dynamics of the industry, include the use of nano-composites and recycling of advanced composites. Hexcel, Cytec, Toray, TenCate, and Gurit are among the major suppliers of aerospace composite materials.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for composites in the global aerospace market by aircraft type, material type, manufacturing process, type of structure, and region and has compiled a comprehensive research report entitled “Growth Opportunities for Composites in the Global Aerospace Market 2017-2036: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for composites in the global aerospace market by aircraft type, material type, manufacturing process, type of structure, and region as follows:
Composites in the Aerospace Market by Aircraft Type (Value ($ Million) and Volume (M lbs) from 2011 to 2036):
· Commercial aircraft
· Regional aircraft
· General aviation
· Military aircraft
Composites in the Aerospace Market by Material Type (Volume (M lbs) from 2011 to 2022):
· Carbon Composites
· Glass Composites
· Aramid Composites
Composites in the Aerospace Market by Manufacturing Process (Volume (M lbs) from 2011 to 2022):
· Hand Lay-Up
· Injection Molding
· Compression Molding
Composites in the Aerospace Market by type of Structure (Value ($ Million) and Volume (M lbs) from 2011 to 2022):
· Primary Structure
Composites in the Aerospace Market by Region (Volume (M lbs) from 2011 to 2022):
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries.
This report answers the following 6 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the composites in the aerospace market by aircraft type (commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and others), material type (carbon composites, glass composites, aramid composites, and others), manufacturing process (ATL/AFP, hand lay-up, RTM, injection molding, compression molding and others), type of structure (primary structure, interior, engine, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which product segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.6 What are emerging trends in this market and the reasons behind them?