Asia-Pacific Aerospace Composites Market Size

Statistics for the 2023 & 2024 Asia-Pacific Aerospace Composites market size, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Aerospace Composites size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Asia-Pacific Aerospace Composites Industry

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Asia-Pacific Aerospace Composites Market Summary
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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

Asia-Pacific Aerospace Composites Market 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.

Asia-Pacific Aerospace Composites Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)