The global aerospace composites market reached a value of US$ 37.6 Billion in 2019. Aerospace composites refer to reinforced carbon-, ceramic-, and glass-based fibers, present in a rigid resin matrix. The composites demonstrate high mechanical strength and low density that make them suitable for manufacturing structural and utility components of the aircraft. Aerospace composites are preferably used in propellers, seats, wing assemblies, rotor blades, helicopters, etc. The composites exhibit flexibility in manufacturing complex shapes, fiber toughness, and resistance to fatigue and corrosion, along with enhancing the engine’s efficiency. 

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Looking forward, IMARC Group expects the global aerospace composites market to exhibit moderate growth during the next five years. A significant growth in the aerospace and aviation industry is one of the primary factors bolstering the market. The growing need to develop fuel-efficient aircraft due to soaring aviation fuel prices and increasing pollution levels, is also augmenting the demand for aerospace composites. In line with this, several aircraft manufacturers are getting inclined towards low composite materials based on their high mechanical strength, low-weight, and weather-resistant properties. Moreover, the development of advanced airplanes with increased payload capacities and better cost-efficiency is further augmenting the market growth. Furthermore, the increasing utilization of aerospace composites in exploratory space activities that include drones and spaceships is also driving the market growth.

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Breakup by Fiber Type:

• Carbon Fiber Composites
• Ceramic Fiber Composites
• Glass Fiber Composites
• Other Fiber Composites

Breakup by Resin Type:

• Epoxy
• Phenolic
• Polyester
• Polyimides
• Thermoplastics
• Ceramic and Metal Matrix
• Others

Breakup by Aircraft Type:

• Commercial Aircraft
• Business Aviation
• Civil Helicopters
• Military Aircraft & Helicopters
• Others

Breakup by Application:

• Interior Parts
• Exterior Parts

Breakup by Manufacturing Process:

• AFP/ATL
• Layup
• RTM/VARTM
• Filament Winding
• Others

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Bally Ribbon Mills, Hexcel Corporation, Materion Corporation, Mitsubishi Chemical Holding Corporation, Renegade Materials Corporation, Koninklijke Ten Cate B.V., SGL Carbon SE, Solvay, Teijin Limited, Toray Industries Inc., etc.

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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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