Aerospace Composite Market Size, Share, Competitive Landscape and Trend Analysis Report by Fiber Type, by Manufacturing Process, by Aircraft : Global Opportunity Analysis and Industry Forecast, 2023-2032

Aerospace Composite Market Research, 2032

The global aerospace composite market size was valued at $29.6 billion in 2022, and is projected to reach $87.0 billion by 2032, growing at a CAGR of 11.5% from 2023 to 2032.

Report Key Highlighters:

• The aerospace composite market share covers 20 countries. The research includes a segment analysis of each country in terms of both value ($million) and volume (kiloton) for the projected period 2021-2031.
• The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions in order to achieve their most ambitious growth objectives.
• Over 3,700 product literatures, annual reports, industry statements, and other comparable materials from major industry participants were reviewed to gain a better understanding of the market.
• The aerospace composite market growth is highly fragmented, with several players including Bally Ribbon Mills, DuPont, Hexcel Corporation, Mitsubishi Electric Corporation, SGL Carbon, Solvay, Spirit AeroSystems, Inc., TEIJIN LIMITED., Toray Industries Inc, VX Aerospace Corporation. Also tracked key strategies such as acquisitions, product launches, mergers, expansion etc. of the players operating in the aerospace composite market.

Aerospace composites refer to advanced materials that are engineered by combining two or more constituent materials with significantly different physical or chemical properties. These materials work together to create a composite with enhanced performance characteristics, often surpassing those of individual components. In aerospace composites, a crucial component is the matrix, which binds and supports together the reinforcement fibers. This essential element provides structural support and plays a vital role in maintaining the integrity of the overall composite structure.

The matrix materials commonly used in aerospace applications encompass polymers, metals, and ceramics. Reinforcement fibers play a crucial role in composite materials, commonly crafted from carbon fibers, glass fibers, or aramid fibers. These diverse materials bring distinct qualities to the composite, allowing for the creation of specialized properties ideal for the challenging conditions found in aerospace applications.

The aerospace industry extensively makes use of composites due to their outstanding energy to weight ratio. Aircraft, satellites, and spacecraft benefit from decreased weight, leading to accelerated gas effectivity and payload capacity. Carbon fiber-reinforced composites have gained prominence in the aerospace quarter for their excessive power and low weight, making them ideal for aspects such as wings, fuselages, and structural elements.

In military aviation, composites play a essential function in developing stealth technologies. Radar-absorbing composite substances are employed to minimize the detectability of army aircraft, enhancing their survivability and mission success. The F-35 Lightning II, a fifth-generation multirole fighter, utilizes a massive number of composite materials to reap its stealth capabilities.

Advancements in materials science contain the exploration of nanocomposites, whereby nanoparticles are integrated into a matrix to decorate and introduce additional properties. Nanocomposites offer the potential for increased strength, thermal stability, and electrical conductivity. In aerospace applications, this ought to lead to the improvement of lighter and more robust components, contributing to even larger gas effectivity and performance.

The emergence of 3D printing, known as additive manufacturing, has revolutionized the production of aerospace composites.

This innovative manufacturing technique enables the creation of intricate geometric shapes and structures, overcoming challenges that were once deemed difficult or even impossible using conventional manufacturing methods. The ability to precisely control the placement of fibers and matrix materials during the printing process enables the creation of customized composites tailored for specific applications.

Aerospace composites have found a significant role in space exploration. Satellites and spacecrafts benefit from the lightweight nature of composites, enabling them to achieve the high speeds and maneuverability required for space missions. The Mars rovers employed composite materials in their construction, a strategic choice aimed at ensuring durability in the challenging Martian environment. These materials offered a balance between resilience against the harsh conditions on the Martian surface and the necessity for lightweight structures suitable for space travel.

Lightweight material demand for fuel efficiency in aerospace drives the growth of the aerospace composite market.

The aerospace enterprise has seen an increase in the demand for lightweight materials, pushed by using the need to enhance gas efficiency. Aerospace composites, including carbon fibers, resins, and aramid reinforcing fibers, provide a robust and lightweight choice to typical materials such as aluminum. This weight reduction contributes to enhanced gasoline efficiency, accelerated plane performance, and decreased gas consumption.

The structural properties of aerospace composites, such as high tensile power and stiffness, make them best for functions prioritizing structural integrity. Carbon fibers are known for their super tensile strength, essential for minimizing weight in the aerospace industry. In addition, there is developing interest in advanced materials such as graphene, with researchers exploring its potential to in addition beautify the energy and conductivity of aerospace composites, opening possibilities for revolutionary aircraft designs.

High initial costs of composite materials in aerospace are expected to restrain the market. The production of composite materials in the aerospace sector is hindered by high costs, which is primarily attributed to expensive raw materials such as advanced carbon or glass, and epoxy resin. The intricate manufacturing processes, including precision molding, curing, and stringent quality control measures, add to the initial expenses. Precision engineering, complex lay-up processes, and sophisticated curing techniques also contribute to elevated costs, requiring specialized equipment and skilled labor. In addition, the time intensive nature of ensuring uniformity and quality in large scale production further increases operational expenditures in the aerospace industry.

The aerospace composite market is segmented into fiber type, manufacturing process, aircraft, and region. On the basis of fiber type, the market is classified into carbon fiber, glass fiber, aramid fiber, and others. On the basis of the manufacturing process, the market is divided into ATL or AFP, filament winding, resin transfer molding, hand layup, and others. On the basis of aircraft, the market is categorized into commercial aircraft, business & general aviation, civil helicopter, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Aerospace composites, specifically those utilizing carbon fiber, play a critical position in the aviation and aerospace sectors, bringing about a sizable transformation in aircraft layout and performance. The industry is experiencing an extraordinary increase with a CAGR of 11.1%, driven by factors such as the special properties of carbon fiber, advancements in manufacturing technologies, and the industry's focus on creating lightweight, fuel-efficient, and environmentally friendly solutions. These composites commonly feature layers of carbon fiber-reinforced polymers (CFRP), combining the energy of carbon fiber with the flexibility and durability of polymers.

Automated Tape Laying (ATL) and Automated Fiber Placement (AFP) are advanced manufacturing processes that play a crucial role in the production of aerospace composites representing the CAGR of 11.0%. Aerospace designs often involve complex shapes and geometries. ATL and AFP systems excel at laying tapes and fibers in intricate patterns, enabling the creation of components with sophisticated designs that would be challenging or impossible to achieve manually. Automated manufacturing processes such as ATL and AFP, have become integral to the aviation and space industries. Their applications in structural and interior components, engine parts, space exploration, military aircraft, and UAVs highlight the versatility and importance of these materials.

By aircraft, aerospace composite dominated the market accounting for one-third of the market share in 2022. Aerospace composites are extensively utilized in the construction of wing structures. The wings of modern commercial aircraft often feature composite materials, including carbon-fiber-reinforced composites, which offer high strength and stiffness. This application is crucial for achieving optimal aerodynamics and fuel efficiency.  Aerospace composites are employed for various interior components of commercial aircraft. These include panels, overhead bins, and partitions. The use of composites in cabin interiors not only reduces weight but also allows for creative and ergonomic design, contributing to a more comfortable and aesthetically pleasing passenger experience.

Aerospace composite in North America was the highest revenue contributor accounting for one-third of the market share representing the CAGR of 11.2%. Aerospace composites are substantially used in North America for a variety of applications in the aerospace industry. Composites such as wings, fuselage sections, and tail aspects are extensively used in setting up plane structures. They provide a excessive strength-to-weight ratio, which is essential for improving gasoline efficiency and lowering ordinary plane weight. The U.S. is a world leader in aerospace technology and innovation, and it closely relies on aerospace composites. The Boeing Company, one of the world greatest aerospace manufacturers, considerably makes use of composites in its business aircraft, which include the Boeing 785, which aspects a full-size proportion of composite materials in its construction.

The major players operating in the aerospace composite market include Bally Ribbon Mills, DuPont, Hexcel Corporation, Mitsubishi Electric Corporation, SGL Carbon, Solvay, Spirit AeroSystems, Inc., TEIJIN LIMITED., Toray Industries Inc, VX Aerospace Corporation.

Apart from the above-listed companies, there are many manufacturers of aerospace composite including (Boeing, Airbus, Lockheed Martin, Northrop Grumman, General Dynamics, Raytheon Technologies, BAE Systems, Safran, Thales Group, Bombardier Aerospace, Embraer, Cytec Solvay Group, Triumph Group, Albany International, Kawasaki Heavy Industries, and others).

Historic Trends of Aerospace Composite Market:

• In the 1950s advancements in materials science led to the development of new composite materials. Epoxy resins and carbon fibers started to be used in experimental aircraft structures. The aerospace industry began to see more widespread use of composites. The A-6 Intruder was a groundbreaking aircraft known for its composite wings, while the Boeing 727 stood out with its innovative use of composite materials in the empennage components.
• In the 1970s the introduction of high-strength carbon fibers significantly improved the strength-to-weight ratio of composite materials. Aircraft such as the Boeing 757 and 767 incorporated composites in their structures. The development of advanced manufacturing techniques, such as autoclave curing and filament winding, contributed to the increased use of composites in aerospace. The Airbus A320 and A330 featured composite components.
• In 2000 the Boeing 787 Dreamliner and the Airbus A350 XWB were introduced, both featuring a high percentage of composite materials in their airframes. This era marked a shift toward more extensive use of composites to reduce weight and improve fuel efficiency.
• In 2010 advancements in composite materials, including the use of carbon-fiber-reinforced composites, continued to shape aerospace design. The Boeing 777X and the Airbus A220 incorporated advanced composite structures.
• In 2020 the use of composites in the construction of spacecraft has become increasingly prevalent. Composites offer a favorable strength-to-weight ratio, making them suitable for components that need to withstand the harsh conditions of space while keeping weight to a minimum. This includes applications in satellite structures, payload fairings, and other critical components.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aerospace composite market analysis from 2022 to 2032 to identify the prevailing aerospace composite market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the aerospace composite market forecast assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global aerospace composite market trends, key players, market segments, application areas, and market growth strategies.

  Aerospace Composite Market Report Highlights

Aspects	Details
Market Size By 2032	USD 87 billion
Growth Rate	CAGR of 11.5%
Forecast period	2022 - 2032
Report Pages	300
By Fiber Type	Carbon Fiber Glass Fiber Aramid Fiber Other
By Manufacturing Process	ATL or AFP Filament Winding Resin Transfer Molding Hand Layup Other
By Aircraft	Commercial Aircraft Business and General Avation Civil Helicoptor Other
By Region	North America  (U.S., Canada, Mexico) Europe  (Germany, France, UK, Spain, Italy, Rest of Europe) Asia-Pacific  (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific) LAMEA  (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
Key Market Players	DuPont, Bally Ribbon Mills, TEIJIN LIMITED., TORAY INDUSTRIES, INC., Spirit AeroSystems, Inc., Mitsubishi Electric Corporation, Solvay, SGL Carbon, VX Aerospace Corporation, Hexcel Corporation

Analyst Review

According to the opinions of various CXOs of leading companies, the global aerospace composite market was dominated by the carbon fiber segment. The aerospace sector has seen increased adoption of carbon fiber composites due to advancements in manufacturing technologies such as automated layup processes and 3D printing. These innovations have improved production efficiency and made carbon fiber composites more cost-effective in the manufacturing processes.

Lightweight material demand for fuel efficiency in aerospace drives the growth of the aerospace composite market. Aerospace composites, particularly carbon fiber composites, are highly valued in the aviation industry due to their excellent tensile strength and stiffness. These structural properties make them ideal for applications where maintaining structural integrity is crucial. The ability of composites to withstand high stress and fatigue contributes to the longevity and durability of aircraft components, reducing maintenance needs and operational costs in the aviation sector.

However, the high initial costs of composite materials in aerospace are expected to restrain industry expansion. Composite materials in aerospace involve high-cost components such as advanced carbon or glass, and epoxy resin. The manufacturing process includes precision molding, curing, and strict quality control, leading to elevated initial costs. Specialized equipment and skilled labor are necessary, further increasing production expenses. In addition, the time-intensive nature of ensuring uniformity and quality in large-scale production contributes to higher operational expenditures in the aerospace sector.

The North America region is projected to register robust growth during the forecast period. In the commercial aviation sector, U.S. manufacturers such as Boeing have been pioneers in incorporating composites. Aircraft such as the Boeing 787 Dreamliner feature a significant percentage of composite materials in their construction, leading to improved fuel efficiency and operational flexibility. NASA, the U.S. space agency, utilizes aerospace composites in various space exploration missions. Composite materials play a vital role in the construction of spacecraft, satellites, and space probes, contributing to the success and durability of these missions.

Author Name(s) : Naresh Ranjit Mawlankar | Eswara Prasad

Related Tags

• Aerospace Composite
• Composite In Aerospace Industry