Aerospace Composites Market Forecasts to 2030 - Global Analysis By Fiber Type (Glass Fiber, Carbon Fiber, Aramid Fiber and Other Fiber Types), Matrix Type, Aircraft Type, Manufacturing Process, Application and by Geography

According to Stratistics MRC, the Global Aerospace Composites Market is accounted for $46.82 billion in 2024 and is expected to reach $87.57 billion by 2030 growing at a CAGR of 11.0% during the forecast period. Aerospace composites are cutting-edge materials designed to satisfy the aerospace industry's strict specifications. Their main constituents consist of a matrix, typically made of polymer, reinforced with fibers like glass, carbon, or aramid. These composite materials are perfect for use in aircraft and spacecraft applications because of their outstanding strength-to-weight ratio, high stiffness, and superior resistance to corrosion and fatigue. Furthermore, their application results in aircraft that are lighter, more fuel-efficient, perform better, and last longer.

According to the American Institute of Aeronautics and Astronautics (AIAA), the use of aerospace composites has become a critical component in modern aircraft design, offering enhanced performance and fuel efficiency while significantly reducing the weight of the aircraft.

Market Dynamics:

Driver:

Increased need for lightweight materials

Manufacturers of aircraft are always looking for ways to lighten their products to improve performance and fuel economy. When compared to conventional metals like aluminum, aerospace composites, like carbon fiber-reinforced polymers, offer better strength-to-weight ratios. This weight loss translates into reduced fuel consumption and increased operational effectiveness. Moreover, the use of lightweight composites becomes more important as the aviation industry concentrates on lowering operating costs and increasing aircraft range.

Restraint:

High starting prices

High material and manufacturing costs are associated with the creation and processing of aerospace composites. When compared to more conventional materials like steel or aluminum, the cost of advanced manufacturing machinery, specialized processes, and raw composite materials can be very high. Smaller manufacturers or businesses aiming to use composites for applications where cost is a concern may find it prohibitive due to this substantial upfront cost. Additionally, the total cost is also influenced by the difficulty and expense of incorporating these materials into the current production lines.

Opportunity:

Developments in composite technologies

Innovative and reasonably priced solutions are being developed as a result of continuous research and development in composite materials. Aerospace composites can be made more affordable and perform better owing to innovations like nano composites, bio-based resins, and better manufacturing processes like 3D printing and automated fiber placement. Moreover, these developments have the potential to spur the creation of new applications and raise the sustainability and efficiency of aerospace components.

Threat:

Market volatility and economic fluctuations

The aerospace sector is extremely susceptible to shifts in the market and economic cycles. Budgets for defense, investment in new aerospace projects, and demand for air travel can all be impacted by economic downturns, recessions, or geopolitical unrest. These variations may result in a decline in the market for aerospace composites, which would impact the earnings and expansion opportunities of producers. Furthermore, alterations in government funding for aerospace and defense initiatives may impact the composites market as a whole.

Covid-19 Impact:

Due to production halts, supply chain disruptions, and project delays in the aviation and space industries, the COVID-19 pandemic had a substantial effect on the aerospace composites market. Due to travel restrictions and a decline in demand for air travel, the aerospace industry experienced a temporary slowdown in the adoption of composite materials and aerospace projects, as well as a reduction in orders and financial strain. Moreover, on the other hand, the pandemic also sharpened attention to innovation and digitalization, generating a surge in curiosity about more sustainable and effective manufacturing techniques.

The Carbon Fiber segment is expected to be the largest during the forecast period

The carbon fiber segment has the largest market share in the aerospace composites market. Because of their remarkable stiffness, strength-to-weight ratio, and thermal stability, carbon fiber composites are highly preferred in aerospace applications. These characteristics are essential for improving performance and fuel economy while lowering the total weight of the aircraft. Additionally, the market dominance of carbon fiber composites can be attributed to their widespread application in structural components such as wings, fuselages, and interior parts. They are essential to modern aerospace engineering because of their superior mechanical qualities and resilience to harsh environments.

The Ceramic Matrix segment is expected to have the highest CAGR during the forecast period

The Ceramic Matrix Composites segment of the Aerospace Composites Market is growing at the highest CAGR. Because of their remarkable mechanical qualities, high temperature resistance, and lightweight design, ceramic matrix composites are becoming more and more valuable in aerospace applications. These composites are perfect for parts like turbine engines and thermal protection systems that are subjected to severe temperatures and harsh conditions. Furthermore, their quick adoption and expansion in the aerospace industry are being fueled by their capacity to preserve structural integrity and performance under extreme stress.

Region with largest share:

In the market for aerospace composites, North America has the largest share. The strong aerospace sector in the area, which includes well-known aircraft manufacturers like Lockheed Martin and Boeing, as well as its sophisticated R&D capabilities, is the main drivers of this dominance. The adoption of composite materials has accelerated due to the region's focus on lightweight and fuel-efficient aircraft. Moreover, North America's dominant position in the aerospace composites market is further cemented by the growing demand for both military and commercial aircraft, as well as the existence of a well-established supply chain.

Region with highest CAGR:

The aerospace composites market is growing at the highest CAGR in the Asia-Pacific region. The aerospace industry is growing quickly in nations like China, India, and Japan as a result of rising defense spending, rising air travel demand, and the rise of regional aircraft manufacturers. The high growth is largely due to the region's emphasis on producing aircraft domestically and on using cutting-edge composite materials to increase fuel economy and lower emissions. Furthermore, the market's growth is also being accelerated by large R&D expenditures and the expanding number of international aerospace companies operating in the area.

Key players in the market

Some of the key players in Aerospace Composites market include Safran SA, Toray Industries, Inc., Collins Aerospace, Mitsubishi Chemical Corporation, Honeywell International Inc., DuPont, AIM Aerospace, Inc., Hexcel Corporation, Teijin Limited, Evonik Industries AG, Solvay Group, General Electric, Huntsman Corporation, Bally Ribbon Mills, Royal Ten Cate N.V and Materion Corporation.

Key Developments:

In June 2024, DuPont announced it has signed an agreement to acquire Donatelle Plastics Incorporated, a leading medical device contract manufacturer specializing in the design, development and manufacture of medical components and devices. The transaction is expected to close in the third quarter 2024, subject to satisfaction of customary closing conditions and receipt of regulatory approvals.

In July 2024, Honeywell has entered into a long-term agreement with Air India Limited, India's premier global airline and a part of the Tata Group, to provide Auxiliary Power Unit (APU) aftermarket support for both the existing and new fleets.

In February 2024, Safran Helicopter Engines has signed a support-by-the-hour contract renewal with ADAC Heliservice for the engines powering ADAC Luftrettung and ANWB Medical Air Assistance H145 helicopter fleets. This SBH(R) contract covers in-service support and MRO (maintenance, repair and overhaul) for around 50 Arriel 2E engines.

Fiber Types Covered:

• Glass Fiber
• Carbon Fiber
• Aramid Fiber
• Other Fiber Types

Matrix Types Covered:

• Polymer Matrix
• Metal Matrix
• Ceramic Matrix

Aircraft Types Covered:

• Commercial Aircraft
• Business & General Aviation
• Civil Helicopters
• Military Aircrafts
• Jet Engines
• Other Aircraft Types

Manufacturing Processes Covered:

• AFP (Automated Fiber Placement)/ ATL (Automated Tape Layup)
• Lay-up
• Resin Transfer Molding
• Filament Winding

Applications Covered:

• Commercial Aviation
• Military Aviation
• Space
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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