The global aerospace composites market size was estimated at 22.5 (USD Billion) in 2019, will register a CAGR of nearly 9.0% during the forecast period from 2020 to 2030.
The report titled “Aerospace Composites Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is the historic period, 2019 is the base year, and 2020 to 2030 is the forecast period.
Aerospace composite has emerged as an important component in the aerospace and aviation industry. The demand for high strength and lightweight materials is continuously increasing with rising air movement. Aerospace composites are high performance materials developed for manufacturing of aerospace components. Increasing disposable income has triggered the adoption of airways as preferred means of passenger transportation across the globe. Additionally, the growth of commercial fleets for cargo movement has increased significantly during past couple of decades. This has fueled the number of commercial aircraft orders, with increasing backlog for leading aircraft manufacturers.
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The aerospace composites help in improving the performance of aircrafts by reducing airframe weight and increasing structural strength. This is anticipated to fuel the growth of aerospace composites market during the forecast period. However, due to government mandate to ensure social distancing in an attempt to prevent spread of COVID-19 has disrupted the production and supply of aircrafts and associated components market. This is anticipated to impede the growth of the global aerospace composites market in coming years. The global aerospace composites market is anticipated to rebound to its original market strength post COVID-19 to exhibit a steady growth during the forecast period.
Market Segmentation as below:
The global aerospace composites market is segmented on the basis of fiber type, resin type, manufacturing process, aircraft type, application, and geography.
Based on fiber type, the global aerospace composites market is segmented into carbon fiber composites, ceramic fiber composites, glass fiber composites, and others.
Based on resin type, the global aerospace composites market is segmented into epoxy, phenolic, polyester, polyimides, thermoplastics, ceramic and metal matrix, and others.
Based on manufacturing process, the automated fiber placement and tape laying (AFP/ATL), layup, resin transfer molding and vacuum-assisted (RTM/VARTM), filament winding, and others.
Based on aircraft type, the global aerospace composites market is segmented into commercial aircraft, business aviation, civil helicopters, military aircraft & helicopters, and others.
Based on application, the global aerospace composites market is segmented into interior and exterior.
Based on geography, the global aerospace composites market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The Final Report will cover the impact analysis of COVID-19.
Key Questions Answered by the Report:
- What will be the size of the global aerospace composites market in 2030?
- What is the expected CAGR for the aerospace composites market between 2020 – 2030?
- Which are the top players active in the global aerospace composites market?
- What are the key drivers of the global aerospace composites market?
- How will the market situation change in the coming years?
- Which region held the highest market share in the aerospace composites market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global aerospace composites market?
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