Composites in the Global Aerospace Market Trends and Forecasts
Lucintel finds that the future of the global aerospace composites material market looks promising with opportunities in commercial aircraft, regional aircraft, general aviation, helicopter, and military aircraft types. The global aerospace composites materials market is expected to reach an estimated $4 billion by 2031 with a CAGR of 12% from 2024 to 2031. The major drivers for this market are growing demand for lightweight materials to increase fuel efficiency and growth of aircraft with high composites penetration such B787 and A350WXB.
The use of carbon, glass and aramid fiber mattings embedded in polymer matrix has seen the production of composite materials in aerospace industry. The epoxy resins are very common polymer matrixes because they have very good mechanical properties and thermal stability. Furthermore, some high-performance thermoplastics like PEEK and PEKK are used for advanced aerospace applications, which increases durability and decreases weight. In the aerospace market composite materials are more expensive than traditional ones such as aluminum and steel; especially those made with carbon fibers and advanced polymers. The increased price is attributed to their better performance characteristics including weight reduction, improved strength and corrosion resistance. Although it is more costly in the beginning, in terms of lower maintenance costs and fuel economy, this can be easily justified over a long period.
• Lucintel forecasts that carbon fiber based composites will remain the largest market during the forecast period. Increasing penetration of carbon composites in commercial aircraft, such as B787 and A350XWB is expected to drive the demand for this segment over the forecast period from 2024 to 2031.
• Within the aerospace composites market, commercial aircraft will remain the largest market by value and volume consumption followed by military aircraft.
• By type of structure, primary structure will remain the largest market by value and volume due to higher composite consumption.
• Europe will remain the largest region during the forecast period due to a higher demand for newer aircraft and the ongoing replacement of an aging fleet.
Country wise Outlook for the Composites in the Global Aerospace Market
The composites in the global aerospace market is witnessing substantial growth globally. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major composite in the global aerospace producers in key regions/countries: the USA, Germany, France, and Japan.
Emerging Trends in Composites in the Global Aerospace Market
The global aerospace market is undergoing significant transformation, driven by advancements in technology, sustainability initiatives, and changing consumer demands. As the industry adapts to these shifts, composite materials are becoming increasingly vital due to their lightweight properties, strength, and resistance to corrosion. These materials are not only enhancing aircraft performance but also contributing to fuel efficiency and reduced emissions. This overview highlights five key trends shaping the aerospace market, focusing on how composites are influencing design, manufacturing, and operational practices within the industry.
• Increased Use of Advanced Composites: The aerospace sector is increasingly adopting advanced composite materials, such as carbon fiber reinforced polymers, to reduce weight and improve fuel efficiency. These materials allow for more complex shapes and designs, leading to enhanced aerodynamic performance and lower operational costs.
• Sustainability and Eco-Friendly Practices: There is a growing emphasis on sustainability within the aerospace industry, with manufacturers seeking to reduce their carbon footprint. Composites play a crucial role in this trend, as their lightweight nature contributes to lower fuel consumption and emissions, aligning with global environmental goals.
• Digital Manufacturing and Automation: The integration of digital technologies and automation in manufacturing processes is revolutionizing the production of composite materials. Techniques such as 3D printing and automated fiber placement are streamlining production, reducing waste, and enabling rapid prototyping, which enhances innovation in aircraft design.
• Enhanced Performance and Durability: Composites are being engineered to offer superior performance characteristics, including increased durability and resistance to environmental factors. This trend is crucial for extending the lifespan of aircraft components, reducing maintenance costs, and improving overall safety in aviation operations.
• Supply Chain Resilience and Local Sourcing: The aerospace industry is focusing on building resilient supply chains, particularly for composite materials. This includes local sourcing strategies to mitigate risks associated with global supply chain disruptions, ensuring a steady supply of high-quality materials for manufacturers.
These emerging trends are reshaping the global aerospace market by driving innovation, enhancing sustainability, and improving operational efficiency. The increased use of composite materials is at the forefront of these changes, enabling manufacturers to meet the evolving demands of the industry while addressing environmental concerns and enhancing aircraft performance.
Recent Developments in Composites in the Global Aerospace Market
The global aerospace market has seen significant advancements in recent years, particularly in the use of composite materials. These materials, known for their lightweight and high-strength properties, are increasingly being adopted in aircraft manufacturing to improve fuel efficiency and reduce emissions. As the industry shifts towards more sustainable practices, several key developments have emerged, shaping the future of aerospace design and production. This outline highlights five critical developments that are influencing the market dynamics and driving innovation in aerospace technology.
• Increased Adoption of Carbon Fiber Reinforced Polymers: The aerospace industry is increasingly utilizing carbon fiber reinforced polymers (CFRP) due to their superior strength-to-weight ratio. This shift allows manufacturers to produce lighter aircraft, leading to improved fuel efficiency and reduced operational costs, ultimately enhancing the competitiveness of airlines.
• Advancements in Manufacturing Techniques: Innovations such as automated fiber placement and 3D printing are revolutionizing the production of composite materials. These techniques enable faster production times and greater design flexibility, allowing manufacturers to create complex geometries that were previously unattainable, thus enhancing overall aircraft performance.
• Sustainability Initiatives: The aerospace sector is prioritizing sustainability, with many companies committing to using eco-friendly composite materials. This focus on sustainable practices not only helps reduce the environmental impact of aviation but also meets the growing demand from consumers and regulators for greener technologies, positioning companies favorably in the market.
• Development of Hybrid Composites: The introduction of hybrid composites, which combine different materials to optimize performance, is gaining traction. These materials offer enhanced properties such as improved thermal resistance and impact strength, making them suitable for various aerospace applications, thereby broadening the scope of composite use in the industry.
• Regulatory Support and Standards: Governments and regulatory bodies are increasingly recognizing the benefits of composites in aerospace applications. New standards and guidelines are being established to facilitate the safe integration of composite materials into aircraft design, which encourages manufacturers to invest in research and development, further driving innovation in the sector.
These developments are significantly impacting the global aerospace market by enhancing aircraft performance, promoting sustainability, and encouraging innovation. The increased use of composite materials is not only transforming manufacturing processes but also aligning the industry with environmental goals, ultimately shaping a more efficient and responsible future for aviation.
Strategic Growth Opportunities for Composites in the Global Aerospace Market
The global aerospace market is experiencing significant transformation, driven by advancements in composite materials that enhance performance, reduce weight, and improve fuel efficiency. As the industry shifts towards more sustainable practices, the demand for innovative composite solutions is surging. Key applications such as commercial aviation, military aircraft, space exploration, and unmanned aerial vehicles (UAVs) are at the forefront of this evolution. This discussion highlights five strategic growth opportunities within these applications, showcasing how composites are reshaping the aerospace landscape and paving the way for future advancements.
• Commercial Aviation: The increasing focus on fuel efficiency and sustainability in commercial aviation is driving the demand for lightweight composite materials. Airlines are investing in new aircraft that utilize advanced composites to reduce operational costs and meet stringent environmental regulations, leading to a more sustainable aviation sector.
• Military Aircraft: The military sector is leveraging composite materials to enhance the performance and survivability of aircraft. Composites provide improved strength-to-weight ratios, enabling the development of advanced stealth technologies and enhancing the overall capabilities of military platforms, thus ensuring national security.
• Space Exploration: The growing interest in space exploration and satellite deployment is creating opportunities for high-performance composite materials. These materials are essential for building lightweight, durable spacecraft that can withstand extreme conditions, thereby facilitating more ambitious missions and reducing launch costs.
• Unmanned Aerial Vehicles (UAVs): The UAV market is rapidly expanding, with composites playing a crucial role in the design and manufacturing of these systems. Lightweight composites enhance flight endurance and payload capacity, making UAVs more efficient for various applications, including surveillance, delivery, and agricultural monitoring.
• Electric Aircraft: The rise of electric propulsion systems in aviation is driving the need for advanced composite materials that can support the unique requirements of electric aircraft. Composites help reduce weight and improve energy efficiency, making electric flight more viable and contributing to the industry's shift towards greener technologies.
The strategic growth opportunities in the global aerospace market, driven by advancements in composite materials, are significantly impacting various applications. These opportunities not only enhance performance and efficiency but also align with the industry's goals of sustainability and innovation, ultimately shaping the future of aerospace.
Composites in the Global Aerospace Market Drivers and Challenges
The global aerospace market is significantly influenced by a variety of technological, economic, and regulatory factors. These drivers and challenges shape the industry's landscape, affecting everything from production processes to market demand. Understa
List of Aerospace Companies in the Global Composites Market
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies aerospace composites companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the aerospace composites companies profiled in this report include.
• Hexcel
• Syensqo
• Toray Industries
• Teijin
• Zodiac Aerospace
• Spirit Aerosystem (Boeing)
These companies have established themselves as leaders in composites in the global aerospace market, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations.
The market share dynamics within the composites in the global aerospace market are evolving, with the entry of new players and the emergence of innovative Composite in the Global Aerospace market technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.
Composites in the Global Aerospace Market by Segment
The main growing sections in the worldwide aerospace composites market are commercial aviation, where composites can be used to improve fuel efficiency and reduce weight in machines like Boeing 787 and Airbus A350. The military is increasingly using composites for its strong nature and durability of the material in fast fighter jets as well as UAVs. New sections like Urban Air Mobility (UAM) and Electric Vertical Takeoff and Landing (eVTOL) aircraft also stimulate development by necessitating lightweight high-performance materials. Furthermore, strength of composites in space crafts and satellites aids space exploration due to its light weight characteristics.
The study includes a forecast of the growth opportunities for the composites in the global aerospace market by aircraft type, reinforcement type, manufacturing process, type of structure, component, and region as follows:
By Aircraft Type [Volume (M lbs.) and Value ($ Million) Analysis for 2019 to 2031]:
• Commercial Aircraft
• Military Aircraft
• Regional Aircraft
• General Aviation
• Helicopter
• Other Aircraft Types
By Reinforcement Type [Volume (M lbs.) Analysis for 2019 to 2031]:
• Carbon Composites
• Glass Composites
• Aramid Composites
• Other Reinforcement Types
By Manufacturing Process [Volume (M lbs.) Analysis for 2019 to 2031]:
• AFP/ALT
• RTM
• Compression Molding
• Injection Molding
• Hand Layup
• Other Manufacturing Processes
Type of Structure [Volume (M lbs.) and Value ($ Million) Analysis for 2019 to 2031]:
• Primary Structure
• Interior
• Dry Engine
• Other Structure Types
By Component [Volume (M lbs.) Analysis for 2019 – 2031]:
• Wings
• Fuselage
• Empennage
• Engine
• Interior
• Radome
• Rotor Blade
• Landing Gear
• Other Components
By Region [Volume (M lbs.) and Value ($ Million) Analysis for 2019 to 2031]:
• North America
• Europe
• Asia Pacific
• ROW
Features of Composites in the Global Aerospace Market
• Market size estimates: Composites in the global aerospace market size estimation in terms of value ($M) and volume (M lbs.) shipment.
• Trend and forecast analysis: Market trend (2019-2024) and forecast (2025-2031) by various segments and regions
• Segmentation analysis: Composites in the global aerospace market size by various segments, such as aircraft type, type of structure, and regions in terms of value and reinforcement, manufacturing process, and component in terms of volume.
• Regional analysis: Composites in the global aerospace market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth opportunities: Analysis on growth opportunities in different segments and regions for composites in the global aerospace market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What are the composites in the global aerospace market size?
Answer: The composites in the global aerospace market is expected to reach an estimated $4 billion by 2031
Q2. What is the growth forecast for composites in the global aerospace market?
Answer: The composites in the global aerospace market is expected to grow at a CAGR of 12% from 2024 to 2031.
Q3. What are the major drivers influencing the growth of the composites in the global aerospace market?
Answer: The major drivers for this market are growing demand for lightweight materials to increase fuel efficiency and growth of aircraft with high composites penetration such B787 and A350WXB.
Q4. What is the major aircraft segment for composites in the global aerospace?
Answer: Commercial aircraft is the major segment by aircraft type for aerospace composites.
Q5. What are the emerging trends in composites in the global aerospace market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, includes increased use of advanced composites, sustainability and eco-friendly practices, digital manufacturing and automation, and enhanced performance and durability.
Q6. Who are the key composites in the global aerospace companies?
Answer: Some of the key composites in the global aerospace companies are as follows:
• Hexcel
• Syensqo
• Toray Industries Inc.
• Teijin
• Zodiac Aerospace
• Spirit Aerosystem (Boeing)
Q7.Which composites in the global aerospace product segment will be the largest in future?
Answer: Lucintel forecasts that primary structure is expected to remain the largest segment by structure type.
Q8: In composites in the global aerospace market, which region is expected to be the largest in next 7 years?
Answer: Europe is expected to remain the largest region and witness the highest growth over next 7 years.
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high growth opportunities for the composites in the global aerospace market by aircraft type (commercial aircraft, military aircraft, regional aircraft, general aviation, helicopter, and other aircraft types), reinforcement (carbon composites, glass composites, aramid composites, and other reinforcement types), manufacturing process (hand lay-up, AFP/ATL, RTM, injection molding, compression molding, and other manufacturing processes), type of structure (primary structure, interior, dry engine, and other structure types), component (wing, fuselage, empennage, engine, interior, rotor blade, radome, landing gear, and other components), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?