PUBLISHER: BIS Research | PRODUCT CODE: 1272647
PUBLISHER: BIS Research | PRODUCT CODE: 1272647
“The global space carbon fiber composite market is estimated to reach $1,679.7 million in 2033, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 14.10% during the forecast period 2023-2033.”
The space carbon fiber composite market is experiencing significant growth driven by the demand for lightweight and high-performance composites in space applications. By leveraging emerging trends and opportunities, businesses can capitalize on the growth prospects of this market.
According to Nilopal Ojha, Principal Analyst, "Space infrastructure is on the rise and particularly the small satellite constellation is increasing, which is supporting the demand for space carbon fiber composites. While dedicated space missions are being developed for communication and Earth observation, the demand for manufacturing lightweight satellite and launch vehicle components is one of the major focuses for satellite manufacturers, enhancing the need for space carbon fiber composites. This study captures market insights on current and emerging opportunities for diverse stakeholder groups within the advanced materials domain (across the New Space sector)."
The study has analyzed and profiled the space carbon fiber composite manufacturers, startups, and emerging players in advanced composite manufacturing in the global space carbon fiber composite market. These companies capture the maximum share in the global space carbon fiber composite market. Moreover, a detailed competitive benchmarking of the companies and organizations operating in the space carbon fiber composite market has been carried out, which will help the reader to understand how players are performing, exhibiting a clear market landscape. In addition to this, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
The key players profiled in the report include: Applied Composites, Airborne, ACPT Inc., Boston Materials, Inc, CarboSpaceTech GmbH, CPI AdamWorks, LLC, CST Composites, Calian Group Ltd., Hexcel Corporation, Hanwha Cimarron, Oxeon AB, Peak Technology, Rockwest Composites, Inc., RUAG Group (Beyond Gravity), SGL Carbon SE, Teijin Limited, TRB, Toray Advanced Composites, SpaceX, Blue Origin, Maxar Technologies, ROCKET LAB USA, Thales Group, Airbus S.A.S, ArianeGroup, and Boeing.
The space carbon fiber composite market was valued at $393.6 million in 2022 and is projected to reach $1,679.7 million by 2033. The space carbon fiber composite market is expected to be driven by the increasing demand for small satellites with a lightweight profile for communication and Earth observation applications, the growing commercial space sector, and the development of reusable launch vehicles. Additionally, advancements in manufacturing technologies and materials are also key factors that are expected to drive market growth.
The space carbon fiber composite market has gained significant importance over the years. The space carbon fiber composite market is currently in the growth stage, as there is an increasing demand for lightweight, high-strength materials in the space industry. Carbon fiber composites have emerged as a viable alternative to traditional materials due to their superior strength-to-weight ratio and resistance to fatigue and corrosion. Moreover, the development of advanced manufacturing technologies such as automated fiber placement (AFP) and additive manufacturing has enabled the production of complex geometries for space applications while reducing production time and costs. In addition, there is an increasing focus on developing carbon fiber composites with high thermal and radiation resistance, which are crucial for deep space exploration missions.
The space carbon fiber composite market is expected to grow significantly in the coming years, driven by various factors such as the development of low Earth orbit satellite constellations, reusable small sat launchers, and multiple interplanetary and deep space missions. However, the high cost of carbon fiber composites and the challenges associated with their manufacturing processes, such as quality control and the need for specialized equipment and specific expertise, pose significant challenges to market growth. The development of new, cost-effective manufacturing technologies and the increasing adoption of carbon fiber composites in various space-based applications are expected to mitigate these challenges and support market growth in the long term.
The PAN-based raw material segment is expected to dominate the market during the forecast period from 2023 to 2033. The factor contributing to this growth is the increasing demand for cost-effective carbon fiber composites, which provide immense strong physical properties.
The high-modulus segment is expected to lead the global space carbon fiber composite market in terms of tensile modulus. This growth is attributed to the excellent stiffness and high strength-to-weight ratio of high modulus carbon fiber composites.
In terms of region, North America is estimated to lead the market throughout the forecast period from 2023 to 2033. The factor attributing to the growth of this region is the presence of highly specialized key companies engaged in developing and providing advanced composites for space applications.
The following are the drivers for the space carbon fiber composite market:
The following are the challenges for the space carbon fiber composite market:
The companies that are profiled have been selected based on inputs gathered from primary experts and analysis of the company's coverage, product portfolio, and market penetration.
In 2022, the top segment players leading the market included established players, constituting 75% of the presence in the market. During the same timeframe, emerging market participants included startup entities that accounted for approximately 25% of the presence in the market.
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