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Aerospace Composite Market

Aerospace Composite Market: Global Opportunity Analysis and Industry Forecast, 2022-2029 Market

Report Code: A07720
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Nov 2022 | 994 Views
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Aerospace Composite Market Analysis 2020-2027:

Aerospace composite materials are composed of fiber materials that are suspended in a matrix of epoxy resin. These materials are made from carbon fibers, glass fibers, and Kevlar, and are widely used in aircraft applications. Aerospace composite materials are much stronger and lighter in weight than aluminum; hence, it is majorly applicable in aircraft body equipment. Reinforced concrete, composite wood, reinforced plastics, and metal matrix are the common aerospace composite materials available in the market. These materials are versatile and can be used for structural applications in all aircraft and spacecraft applications. The aerospace composite materials market is predicted to exhibit notable growth during the forecast period, owing to enhanced utilization of aerospace composite materials in spacecraft application.

COVID-19 impact analysis

The global market for aerospace composite material is severely impacted by the outbreak of the COVID-19 pandemic. The decline in the aircraft industrial activities due to the COVID-19 outbreak is likely to further affect the growth of the market. The pandemic has forced many industries in the market to nearly stop their operations to comply with the government regulations such as social distancing. In addition, air travel will be low, owing to the lockdown implemented across various countries and ban on national and international travel . In addition, the insufficiency of raw materials will also hamper the production rate and supply chain of the aerospace composite system market. Thus, aerospace composite material business conditions have become unstable, globally.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

Surge in demand for aerospace composites materials in the aerospace & defense sector is the key driving factor of the aerospace composite materials market. As composite materials are light in weight and have enhanced durability, they are witnessing high demand in designing the interior and exterior parts of the aircraft. Furthermore, high stiffness and tensile strength of composite materials help in the reduction of operational cost, thus increasing the demand for composite materials. However, high initial cost of aerospace composite materials coupled with the complicated process in the finishing of materials is the major restraint of the aerospace composite materials.

New product launches to flourish the market

Major market players have taken the necessary steps to improve the accuracy of materials and overall functionality. Increase in usage of aerospace composite materials across the globe plays a significant role in the evolution of the market. Adoption of latest technology for manufacturing of aerospace composite materials has increased the overall demand of the market. Manufacturers have been focusing on making composite which can provide ease of designs as compared to metals. In addition, continuous technological advancements in terms of structural and component applications are the major fundamentals of the key players to sustain their position in the market.

Surge in usage in aerospace and industrial applications 

Aerospace composites materials are used as a sandwich material in the interior and exterior parts of aerospace applications. These materials have improved properties such as low weight and tensile strength, which, in turn improves the fuel efficiency of aircraft. In addition, aerospace composite materials are gaining increased traction in the market, owing to their corrosion resistance and strength to weight ratio. Upsurge in the utilization of composite materials in manufacturing of wings, floorboards, and engine casing have augmented their demand, thereby accelerating the market growth. 

Key benefits of the report 

  • This study presents the analytical depiction of the global aerospace composite industry along with the current trends and market estimation to determine the imminent investment pockets.
  • The report represents information related to key drivers, restraints, and opportunities along with detailed analysis of the aerospace composite market.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
  • The report provides a detailed market analysis depending on competitive and how the competition will take shape in coming years.
  • This report helps users in comprehending the key product segments and their future.

Questions answered in the global aerospace composite market research report:

  • Which are the leading market players active in the global aerospace composite market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What should be the response of the market players amid the COVID-19 pandemic?
  • What are the projections for the future that would help in taking further strategic steps?
  • What is the outlook of the industry?
  • What are the emerging key segments in the aerospace composite market?
  • What are the major changes and assessments in market dynamics?

Aerospace Composite Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights

Aspects Details
By Product Type
  • Carbon Fiber
  • Glass Fiber
  • Aramid Fiber
By Application
  • Interior
  • Exterior
By End User
  • Civilian
  • Military
  • Others
By Region
  • North America  (US, Canada)
  • Europe  (Germany, UK, France, rest of Europe)
  • Asia-Pacific  (China, Japan, India, rest of Asia-Pacific)
  • LAMEA  (Brazil, Mexico, rest of LATAM)
  • the Middle East 
  • Africa 
Key Market Players Renegade Materials Corporation, Royal DSM N.V, Materion Aerospace Metal composites, Solvay SA, Advanced Composites Inc., Kinetic Composites Inc., Toray Industries Inc., Mitsubishi Chemical Holdings, Hexcel Corporation, Teijin Limited

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