Market Size of Middle-East And Africa Aerospace Composites Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 5.27 Billion |
| Market Size (2029) | USD 8.60 Billion |
| CAGR (2024 - 2029) | 10.32 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle-East And Africa Aerospace Composites Market Analysis
The Middle-East And Africa Aerospace Composites Market size is estimated at USD 5.27 billion in 2024, and is expected to reach USD 8.60 billion by 2029, growing at a CAGR of 10.32% during the forecast period (2024-2029).
The development of the regional aviation industry and the rise in air passenger traffic in the Middle-East and Africa region is leading to the procurement of new commercial and general aviation aircraft by major airlines, businesses, etc. This is propelling the demand for aerospace composites in the region since composites are a major constituent in the newer generation of aircraft.
The investments in space development and exploration programs by countries such as Saudi Arabia and Israel, the rise in demand for advanced composites owing to their lightweight, thermal, and chemical resistant properties, reduced tooling and machining cost, etc., are driving the market growth for advanced composites in the region. However, volatile prices in the industry and the stronghold of the market by the presence of existing materials such as aluminum and steel are restraining the growth of the market.
