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Aerospace Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Aerospace Composites Market is Segmented by Fiber Type (Glass Fiber, Carbon Fiber, Ceramic Fiber, and Other Fiber Types), Application (Commercial, Military, General Aviation, and Space), and Geography.

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Market Snapshot

aerospace composites market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >7 %

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Market Overview

The aerospace composites market is anticipated to register a CAGR of over 7% during the forecast period (2020 - 2025).

  • The characteristics of composites, like temperature and chemical resistance, lightweight, high stiffness, dimensional stability, and flex performance, among others, have made their use popular in various aerospace components and structural applications.
  • Reduced maintenance, longer design life, fewer parts, and reduced tooling and assembly costs are some of the reasons that drive the aerospace composites market.
  • The increasing investments in R&D of advanced composite materials by various aerospace companies, like General Electric Company, The Boeing Company, and Airbus SE, are also supporting the growth of the aerospace composites market.

 

Scope of the Report

The aerospace composites market includes all applications of composites in military aircraft, commercial aircraft, general aviation aircraft, and spacecraft.

Fiber Type
Glass Fiber
Carbon Fiber
Ceramic Fiber
Other Fiber Types
Application
Military
Commercial
General Aviation
Space
Geography
North America
United States
Canada
Europe
United Kingdom
France
Germany
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East & Africa
South Africa
United Arab Emirates
Rest of Middle East & Africa

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Key Market Trends

The Military Segment Dominates in terms of the Market Share

The military segment of the market is expected to record the highest CAGR during the forecast period. The composites used in military aircraft are lightweight, durable, and chemical and temperature resistant. The additional properties of composites used in military aircraft are ballistic and low detectability by radars. For instance, carbon and glass fiber-reinforced plastic laminates are used in Lockheed Martin F-35 Lightning II in element, like vertical stabilizer, tailplane, flaps, and wings skin that account for approximately 40% weight of aircraft. Military helicopter blades are also made of composite materials, which makes it much lighter. The development of advanced materials and composite fibers, which decrease the detection rate and weight of the aircraft, is expected to drive the growth of the segments during the forecast period.

Aerospace Composites Market_Application

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Currently, North America Holds the Major Share in the Aerospace Composites Market

North America is expected to remain the largest market, due to the augmentation in end-user industries and the increasing demand for lightweight materials in the aerospace industry. The growth is mainly driven by increasing consumption of aerospace composites in exterior and interior parts in the commercial and military aircraft. The United States is the largest consumer of aerospace composites, globally, in terms of value and volume, and is expected to strengthen its position further during the forecast period. The growth of the US aerospace composites market is attributed to the presence of giant players, such as The Boeing Company and General Electric Company, along with the establishment of several new composite manufacturing facilities in the country.

Aerospace Composites Market_Geography

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Competitive Landscape

The prominent players in the market are Toray Industries Inc., SGL Carbon SE, Hexcel Corporation, Solvay SA, and DuPont. The partnerships of the companies with OEMs for the development of components and parts of the aircraft, to increase the profitability of the end user is expected to open new market opportunities to the existing players. Also, investments of companies into advanced composites for space-based applications may help increase their market presence.

aerospace composites market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Fiber Type

      1. 5.1.1 Glass Fiber

      2. 5.1.2 Carbon Fiber

      3. 5.1.3 Ceramic Fiber

      4. 5.1.4 Other Fiber Types

    2. 5.2 Application

      1. 5.2.1 Military

      2. 5.2.2 Commercial

      3. 5.2.3 General Aviation

      4. 5.2.4 Space

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 France

        3. 5.3.2.3 Germany

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 Latin America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Rest of Latin America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Bally Ribbon Mills

      2. 6.2.2 Mitsubishi Chemical Carbon Fiber and Composites Inc.

      3. 6.2.3 Toho Tenax

      4. 6.2.4 Toray Industries Inc.

      5. 6.2.5 SGL Carbon SE

      6. 6.2.6 Hexcel Corporation

      7. 6.2.7 Solvay SA

      8. 6.2.8 DuPont

      9. 6.2.9 Royal Ten Cate

      10. 6.2.10 Materion Corp

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Aerospace Composites Market market is studied from 2018 - 2026.

The Aerospace Composites Market is growing at a CAGR of >7% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Toray Industries Inc., SGL Carbon SE, Hexcel Corporation, Solvay SA, DuPont are the major companies operating in Aerospace Composites Market.

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