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

The America Aerospace Composites Market is segmented by Application (Commercial Aircraft, Military Aircraft, General Aviation Aircraft, Space), and Geography.

Market Snapshot

america aerospace composites market overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: North America
Largest Market: North America
CAGR: >5 %

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Market Overview

The aerospace composites market in America is projected to grow with a CAGR of more than 5% during the forecast period.

  • The growth in demand for air travel and aerial connectivity in the North America and Latin America regions have driven the airlines to introduce new routes and increase flight movements, to cater to its growing demand. Also, the procurement of newer generation aircraft in the United States, Brazil, and other countries in the region is expected to propel the demand for aerospace composites market.
  • The development of advanced materials (lightweight), as well as the introduction of new manufacturing technologies like 3D and 4D printing into the aerospace sector, is anticipated to support the growth of the market.
  • The growing investments into space for manufacturing spacecraft with lightweight and other composites that can withstand cosmic radiation are expected to accelerate the growth of the aerospace composites market in the coming years.
  • Due to the COVID-19 pandemic, the aircraft OEMs have decreased their aircraft production and airlines are postponing their expansion plans, which will affect the revenues of tier-1 companies of the aerospace sector in 2020 and 2021.

Scope of the Report

The study includes various types of composites, like the Glass Fiber, Carbon Fiber, and Ceramic Fiber among others. Further, the report includes the following aspects:

Application
Commercial Aircraft
Military Aircraft
General Aviation Aircraft
Space
Geography
North America
United States
Canada
Latin America
Mexico
Brazil
Rest of Latin America

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Key Market Trends

Commercial Sector Held the Highest Market Share in 2019

The growth in demand for air travel in North America and Latin America for tourism, personal, and business travel has led to rapid growth in air passenger traffic in the region, which is fueling the expansion plans (fleet as well route network) of various airlines. The fleet modernization plans of airlines are generating demand for newer generation commercial aircraft like Boeing 787, Boeing 777X, Airbus A320 family, and Airbus A350XWB among others. Boeing 787 is made of 50% composite materials (by weight), whereas Boeing 777X will have the largest composite aircraft wings in the world. Also, the primary structures of the A320 are of composite construction with aramid fiber (AFRP), glass fiber (GFRP) and carbon fiber (CFRP) reinforced plastics, whereas the wing structures and fuselage of A350XWB are made of CFRP. The growing investments to decrease the weight of the aircraft to minimize the fuel burn is anticipated to increase the investments into composites in commercial aircraft. To achieve this goal, various component manufactures of wing structures, thrust reversers, aircraft nacelles, and engine components are incorporating composite materials. In January 2020, Rolls-Royce announced its plan to open a new facility to make carbon fiber fan blades and fan cases for jet engines, which will significantly reduce the weight of the jet engine as well as decrease the fuel consumption and emissions.

america aerospace composites market segment

North America will Dominate the Market During the Forecast Period

The North America region currently dominates the market and is expected to continue its dominance during the forecast period. This is mainly due to increasing passenger traffic in the United States and Canada. Fleet expansion and modernization plans as well as an increase in operating routes by the airlines are propelling new aircraft procurement. Also, under military fleet modernization plans, the US Air Force plans to acquire a wide range of military aircraft in the coming years. The US government in February 2020, announced its plan to acquire the F-15EX fourth-generation version of the F-15 fighter (F-15 airframe is made from 2% composites, which include boron/epoxy empennage skins and a carbon fibre/epoxy speed brake). These aircraft will complement the country’s fleet of F-35 fighter jet aircraft (approximately 40% made from composites) as well as combat drones planned to enter service in the coming years. In addition to these investments, the government is also investing in space exploration programs. In FY 2021 budget, the government allocated more than USD 25 billion for the National Aeronautics and Space Administration’s (NASA) human space exploration program. Such investments are expected to increase the penetration of composites in space programs planned to be launched in the future, which is expected to accelerate the growth of the market in this region.

america aerospace composites market geography

Competitive Landscape

Some of the prominent players in the America aerospace composites market are Hexcel Corporation, Sekisui Chemical Co Ltd, Avcorp Industries Inc., Precision Castparts Corp., and COTESA GmbH. Avcorp Industries Inc. and Hexcel Corporation support the majority of the military and commercial aircraft programs. Additionally, COTESA GmbH provides composite parts to all commercial, military, and space programs of Airbus. The companies are entering into partnerships for the development of lightweight and high-strength materials for aerospace applications. For instance, in March 2020, the Composite Materials business segment of Solvay entered a Joint Development Agreement (JDA) with SGL Carbon for the development of new carbon fiber aircraft parts for meeting requirements of mechanical performance and cost-efficiency.

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 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Commercial Aircraft

      2. 5.1.2 Military Aircraft

      3. 5.1.3 General Aviation Aircraft

      4. 5.1.4 Space

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

      2. 5.2.2 Latin America

        1. 5.2.2.1 Mexico

        2. 5.2.2.2 Brazil

        3. 5.2.2.3 Rest of Latin America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Solvay SA

      2. 6.1.2 Hexcel Corporation

      3. 6.1.3 Sekisui Chemical Co Ltd

      4. 6.1.4 Avcorp Industries Inc.

      5. 6.1.5 Precision Castparts Corp.

      6. 6.1.6 COTESA GmbH

      7. 6.1.7 DuPont

      8. 6.1.8 SGL Carbon

      9. 6.1.9 Materion Corporation

      10. 6.1.10 Renegade Materials Corporation

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

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

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

North America is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Hexcel Corporation, Sekisui Chemical Co Ltd, Avcorp Industries Inc., Precision Castparts Corp. , COTESA GmbH are the major companies operating in America Aerospace Composites Market.

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