The report " Aerospace Composites Market by Fiber Type (Carbon Fiber Composites, Ceramic Fiber Composites, Glass Fiber Composites), Matrix Type, Manufacturing Process (AFP/ATL, Resin Transfer Molding), Application, Aircraft Type, and Region - Global Forecast to 2027", is projected to grow from USD 26.6 billion in 2021 to USD 51.6 billion by 2027, at a CAGR of 11.7% during the forecast period. The market is growing due to the increase in the demand for high-performance materials, with properties such as low weight, high strength-to-weight ratio, good tensile strength, and electrical conductivity.
Browse 180 market data Tables and 51 Figures spread through 210 Pages and in-depth TOC on "Aerospace Composites Market by Fiber Type (Carbon Fiber Composites, Ceramic Fiber Composites, Glass Fiber Composites), Matrix Type, Manufacturing Process (AFP/ATL, Resin Transfer Molding), Application, Aircraft Type, and Region - Global Forecast to 2027"
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Carbon fiber composites comprise a major share of the aerospace composites market
Carbon fibers composites are extensively used in aerospace applications, owing to their superior strength-to-weight ratio and anti-corrosive property. The aerospace industry has widely adopted carbon fiber composites for various applications, such as wings, fuselage, engine nacelles, fan casings, floorboards, and interior parts. The evolution in the manufacturing technology of carbon fiber composites parts is also driving its use in aerospace applications.
Polymer matrix type accounted for the largest share in the global aerospace composites market in terms of value and volume.
Polymer matrix composites materials are made by reinforcing fibers, such as carbon and glass fibers with matrix materials - thermoset or thermoplastic. Fiber-reinforced polymer matrix composites combine high strength, stiffness, toughness, and low density, and thus obtain high strength-to-density and stiffness-to-density ratios along with superior physical properties. These materials find applications in the structural components, interior components, and engine components used in aircraft.
Exterior application accounted for the largest share in the global aerospace composites market in terms of value and volume.
Exterior structures of aircraft built with composite materials include landing gears, leading and trailing edges, engine nacelles, undercarriage, fuselage, and wings. Nowadays, composites materials such as carbon fiber composites are used in engine components and engine blades.
Commercial aircraft to account for the largest revenue share of the global aerospace composites market during the forecast period.
Aerospace composites are extensively used materials in interior and exterior applications of aircraft. The low weight, combined with high tensile strength of composite materials, increases the fuel efficiency, reduces maintenance costs, and allows OEMs to comply with the stringent environment regulations stipulated in Europe and North America. New aviation programs of major players, such as Boeing for top commercial aircraft, such as 787, 777X, and A350XWB, are using a significant amount of carbon fiber composites (about 50% of structural weight) for their airframe structures. A large number of commercial airplane deliveries in the single-aisle, widebody, twin-aisle, and regional jet segments are expected to increase the demand for carbon fiber composites during the forecast period.
AFP/ATL is expected to account for the largest share in the aerospace composites market during the forecast period.
The ATL/ AFP processes use computer-guided robotics to lay one or more layers of carbon fiber tape onto a mold to create a part or structure. AFP/ATL machines help in increasing the production rate and precision in the manufacturing of aerospace composites and composite parts. AFP is a hybrid process between filament winding and tape laying, and hence, it combines the benefits of both the processes. This process is less time-consuming and leaves out very less scrap of raw materials, as compared with manual processes.
Europe is expected to account for the largest share in the aerospace composites market during the forecast period.
Europe accounted for the largest market share in the aerospace composites market due to high demand from commercial aerospace industries. Moreover, it is home to many key aerospace composite manufacturers, such as SGL Carbon, Solvay, and TenCate. Increased deliveries of Airbus aircraft primarily drives the composites material demand in Europe. Apart from this, the region develops military aircraft and helicopters.
The major manufacturers profiled in this report include Solvay (Belgium), Toray Industries, Inc. (Japan), Mitsubishi Chemical Holdings (Japan), Hexcel Corporation (US), Teijin Limited (Japan), SGL Group (Germany), and Spirit AeroSystems (US.). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the aerospace composites market.
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