According to a new market report published by Lucintel, the future of the
aerospace composite materials market looks attractive with opportunities in commercial aircraft, regional aircraft, general aviation, helicopter, and military aircraft markets. The global aerospace composite materials market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $3.3 billion by 2025 with a CAGR of 1% to 3% from 2020 to 2025. Major drivers for this market are the growing demand for lightweight materials to increase fuel efficiency and growth of aircraft with high composites penetration such B787, A350WXB, and A380.
Browse 47 market data tables and 175 figures spread through 304 pages and in-depth TOC on “Composites in the Aerospace Market"
To download report brochure, please go to https://www.lucintel.com/aerospace-composites-materials-market.aspx and click "report brochure" tab from the menu . In this market, carbon fiber, glass fiber, and aramid fiber are used to fabricate various aircraft components. On the basis of our comprehensive research, Lucintel forecasts that carbon fiber based composites is expected to witness the highest growth 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 2019 to 2025.
Within aerospace composite 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.
North America 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.
An emerging trend, which has a direct impact on the dynamics of the industry, includes the recycling of advanced composites. Hexcel, Cytec Solvay Group, Toray, Gurit, and Teijin are among the major suppliers of aerospace composites materials.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for composites in the aerospace market by aircraft type, by reinforcement type, manufacturing process, type of structure, by component, and region, and has compiled a comprehensive research report entitled
“Growth Opportunities for Composites in the Aerospace Market 2019-2025: Trends, Forecast and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategies as it provides a comprehensive data and analysis on trend, key drivers, and directions. The study includes a forecast of the growth opportunities for the composites in the 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) from 2014 to 2038]: