Due to increased prices of fuel, the aerospace market of North America is anticipated to encounter a rising demand for aircrafts that are fuel-efficient. Growth in the rate of replacement, majorly in regional aircrafts is boosting growth in the North American industry of Aerospace plastics. The desire to replace the aircrafts that are inefficient with the ones that are efficient is expected to spur the growth of the aerospace plastic market significantly.
The Aerospace Plastics Market in Europe encountered substantial growth in the year of 2016 and is anticipated to witness considerable growth in consecutive years due to surplus investments witnessed in research and development and the availability of qualified engineers. The existence of manufacturing companies of aircraft in France which also include European groups that share business interests has strengthened the growth of the aerospace plastics market. Consistent amendments in the economies of Asia Pacific have had a considerable impact on the airline industry in the recent years. Nonetheless, upcoming economies in Asia Pacific like Japan, India, and China are significantly boosting the aerospace plastics market.
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Competitive Insights 2018:
The global aerospace plastics market is extensively competitive and is divided into manufactures that operate in the international market as well as the local market. The market was dominated by Toray industries as it provided products and materials to the leading manufacturers such as Boeing and Airbus. Major companies in the industry are Hyosung Corp, Mitsubishi Heavy Industries, Kaman Corp, Hexcel, Composite Holding Comp, Cytec Industries and HITCO Carbon Composites.
Market Highlights:
The global aerospace plastics market was worth USD 11.34 million in the year 2016, and is expected to garner around USD 25.94 billion by 2025, while registering itself at a compound annual growth rate (CAGR) of 9.63% during the forecast period.
The Aerospace Plastics Market is segmented as follows-
Aerospace Plastics Market, By Application, Estimates and Forecast, 2016-2025 ($Million)
- Satellites
- Equipment, systems & support
- Propulsion systems
- Aerostructure
- Construction and insulation components
- Cabin interiors
- Components
Aerospace Plastics Market, By End User, Estimates and Forecast, 2016-2025 ($Million)
- General aviation
- Commercial & freighter aircrafts
- Rotary aircrafts
- Military aircrafts
- Other End User
Application Outlook and Trend Analysis:
The major areas of application of plastics in the aerospace industry are the freight aircrafts and the large passenger aircrafts. The use of polymers in aircrafts supplements in decreasing the weight s well as the cost of operating that result in reduced issue related to maintenance. This has propelled the manufacturer of aircrafts to implement more plastic parts in freight and commercial aircrafts.
The manufacturers of Military aircrafts have been utilizing plastic in order to decrease the overall weight of the airplane and enhance the efficiency of fuel. Aerospace plastics render great freedom for designing of complex parts of the airplane. This has led to a huge amount of utilization of aerospace plastics in the manufacturing of Military and commercial airplanes.
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Regional Outlook:
Middle East and Africa: Saudi Arabia, UAE, Egypt, Nigeria and South Africa
North America: U.S, Canada, Mexico
Europe: Germany, France, UK, Italy, Spain, Rest of Europe
Asia-Pacific: Japan, China, Australia, India, South Korea, Rest of Asia-Pacific
Rest of the World: Brazil, South Africa, Saudi Arabia, Turkey, United Arab Emirates, Others
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Major TOC of Aerospace Plastics Market:
Chapter1. Introduction
Chapter2. Executive Summary
Chapter3. Market Overview
Chapter4. Market Analysis by Regions
Chapter5. Aerospace Plastics Market, By Application
Chapter6. Aerospace Plastics Market, By End User
Chapter7. Company Profiles
7.1.Hyosung Corporation
7.1.1. Business Overview
7.1.2. Product Portfolio
7.1.3. Key Financials
7.1.4. Strategic Developments
7.2.KAMAN CORPORATION
7.2.1. Business Overview
7.2.2. Product Portfolio
7.2.3. Key Financials
7.2.4. Strategic Developments
7.3.MITSUBISHI HEAVY INDUSTRIES, LTD.
7.3.1. Business Overview
7.3.2. Product Portfolio
7.3.3. Key Financials
7.3.4. Strategic Developments
7.4.Premium Aerotec GmbH
7.4.1. Business Overview
7.4.2. Product Portfolio
7.4.3. Strategic Developments
7.5.Saudi Arabia Basic Industries Corporation (SABIC)
7.5.1. Business Overview
7.5.2. Product Portfolio
7.5.3. Key Financials
7.5.4. Strategic Developments
…CONTINUED FOR TOC
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