Market Size of Aerospace Composites Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 27.79 Billion |
| Market Size (2029) | USD 43.47 Billion |
| CAGR (2024 - 2029) | 9.36 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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Aerospace Composites Market Analysis
The Aerospace Composites Market size is estimated at USD 27.79 billion in 2024, and is expected to reach USD 43.47 billion by 2029, growing at a CAGR of 9.36% during the forecast period (2024-2029).
The characteristics of composites, like temperature and chemical resistance, lightweight, high stiffness, dimensional stability, and flex performance, among others, 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 substantial rise in passenger traffic and the imposition of new emission regulations led to a significant increase in demand for new-generation aircraft purchases over the last decade, before the pandemic. Aircraft manufacturers are developing new aircraft models in the commercial, military, and general aviation sectors, requiring newer engines with better performance and low weight. As a result, the emphasis on newer material technologies like composites is increasing.
