Market Size of Asia-Pacific Aerospace Composites Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 7.18 Billion |
| Market Size (2029) | USD 11.24 Billion |
| CAGR (2024 - 2029) | 9.40 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Aerospace Composites Market Analysis
The Asia-Pacific Aerospace Composites Market size is estimated at USD 7.18 billion in 2024, and is expected to reach USD 11.24 billion by 2029, growing at a CAGR of 9.40% during the forecast period (2024-2029).
Asia-Pacific is the fastest-growing region in the world for aviation activities. With the air-passenger traffic growing rapidly and the airlines increasing their fleet size, the market for aerospace composites in the region is growing rapidly, and the growth is expected to continue during the forecast period. In addition, in the military segment, several nations in the region are procuring newer generation aircraft which have a greater percentage of composites.
Several new aircraft developed by the players in the region are being built with increasingly higher compositions of composite materials. Reduced maintenance, longer design life, fewer parts, and reduced tooling and assembly costs are some of the reasons that are driving the adoption of composites in aerospace manufacturing. However, factors such as supply chain disruptions and liquidity crunch can hinder the growth of the market.
