Aerospace Composites Market by Fiber Type (Carbon Fiber Composites, Ceramic Fiber Composites, Glass Fiber Composites), Resin Type (Benzoxazine, Bismalimide, Ceramic and Metal Matrix), Aircraft Type, Manufacturing Process, Application - Global Forecast 202

Aerospace Composites Market by Fiber Type (Carbon Fiber Composites, Ceramic Fiber Composites, Glass Fiber Composites), Resin Type (Benzoxazine, Bismalimide, Ceramic and Metal Matrix), Aircraft Type, Manufacturing Process, Application - Global Forecast 2024-2030

The Aerospace Composites Market size was estimated at USD 41.03 billion in 2023 and expected to reach USD 44.70 billion in 2024, at a CAGR 9.04% to reach USD 75.21 billion by 2030.

Aerospace composites are advanced materials that are utilized in aircraft and spacecraft components manufacturing. They consist of a combination of fibers and matrices to give strength, resilience, and lightweight properties essential for the unique demands of aerospace applications. Drivers fueling the aerospace composites market include the increasing demand for fuel-efficient and high-performance aircrafts, advancements in composite technology, and a growing preference for carbon fiber reinforced materials due to their superior strength-to-weight ratio. Moreover, the adoption of aerospace composites is encouraged by environmental regulations targeting emission reductions, pushing for lighter and more efficient designs. Nonetheless, there are restraints in this market as well, such as the high costs associated with manufacturing and raw materials, and the complexities involved in the repair, maintenance, and recycling of composite components. Challenges lie chiefly in the requirement for precise engineering and manufacturing processes, ensuring reliability and safety standards are met, and the development of cost-effective production methods. Opportunities in the aerospace composites market are plentiful, particularly in the realm of research and development for new composites that can further improve performance while reducing weight and cost. The growing commercial aviation market and the increased production of new generation aircraft provide further potential for market expansion. Moreover, partnerships between manufacturers and government investment in aerospace infrastructures offer a positive outlook for the increased use of aerospace composites in both civilian and defense aircraft manufacturing.

Regional Insights

The Asia Pacific aerospace composites market is experiencing robust growth, fueled by escalating demand from the commercial aviation sector and heightened defense expenditures by nations like China, India, and Japan. The demand surge is anchored in the quest for materials that embody weight efficiency, fuel economy, and improved strength, aligning with a pivot towards eco-friendly and energy-efficient aviation solutions. In the Americas, the United States spearheads the aerospace composites sector, fueled by extensive R&D investments and a market preference for materials that merge fuel efficiency with superior performance capabilities. The Europe, Middle East, and Africa (EMEA) region is witnessing a strong inclination towards innovative aerospace composite solutions, propelled by significant investment in research and technology. The EU prioritizes operational efficiency and carbon emission reductions, in line with rigorous environmental standards, influencing consumer preferences significantly. The Middle East's burgeoning aerospace composites market, notably within the United Arab Emirates, is characterized by a penchant for luxury and high-performance materials, with a concurrent focus on sustainability. Africa's nascent but promising aerospace composites sector, particularly in North African countries, signals potential market expansion, driven by increasing investments in training and composite manufacturing facilities, highlighting a rising interest in this transformative technology.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Aerospace Composites Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Growing use of aerospace composites in commercial aircraft
• Replacement of old aircrafts accelerating the production
• Need to develop fuel efficient aircraft and reduced manufacturing cost

Market Restraints

• Issues related to recyclability and supply chain
• Loosely defined standards in manufacturing process

Market Opportunities

• Increased investment for aircraft production
• Reduced prices of Carbon fibers

Market Challenges

• Development of low-cost technology

Market Segmentation Analysis

• Fiber Type: Carbon fiber composites are selected ideally for critical aerospace structures
• Application: Advancement in aerospace composites modernize the aviation industry

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Aerospace Composites Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Aerospace Composites Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Toray Advanced Composites Announces Expansion of Morgan Hill Campus, Increasing Production Capacity by Fifty Percent

Toray Advanced Composites, has announced a significant expansion of its operations in Morgan Hill, California. The expansion is aimed at bolstering the company's production capacities to meet the burgeoning demand across several key sectors, including aerospace, urban air mobility, defense, and commercial industries, globally.

Aerospace Composites Solutions Relocating to New USD 16.8 Million Facility, Creating 72 Full-Time Jobs in Butler County

Aerospace Composites Solutions' (ACS) started a USD 16.8 million facility expansion and relocation project in Morgantown to enhance business operations. This initiative marks a significant phase in the company's growth, reinforcing its over-a-decade-long commitment to Kentucky's economic landscape.

AnalySwift Receives Nearly USD 800,000 NASA Contract To Improve Simulation of Next-Generation Composites

NASA has granted AnalySwift LLC, a company associated with Purdue University, an award of USD 799,954 for a Phase II Small Business Technology Transfer (STTR) contract. The focus of this contract is the development of a novel Design tool for Advanced Tailorable Composites (DATC), to be launched upon the completion of the two-year period.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Aerospace Composites Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Aerospace Composites Market, highlighting leading vendors and their innovative profiles. These include Albany International Corporation, Bally Ribbon Mills, BASF SE, FACC AG, General Electric Company, Hexcel Corporation, Hexion Inc., Huntsman International LLC, Lee Aerospace, Inc., Mitsubishi Chemical Holdings Corporation, Plastic Reinforcement Fabrics Ltd., Rolls-Royce PLC, SGL Carbon SE, Solvay S.A., Spirit AeroSystems, Inc., TEIJIN LIMITED, and Toray TCAC Holding B.V..

Market Segmentation & Coverage

This research report categorizes the Aerospace Composites Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Fiber Type
• Carbon Fiber Composites
• Ceramic Fiber Composites
• Glass Fiber Composites
• Resin Type
• Benzoxazine
• Bismalimide
• Ceramic and Metal Matrix
• Cyanate Ester
• Epoxy
• Phenolic
• Polyester
• Polyimide
• Thermoplastic
• Aircraft Type
• Business and General Aviation
• Business Jet
• Piston & Turboprop
• Civil Helicopter
• Commercial Aircraft
• Regional Jets
• Single Aisle Aircraft
• Widebody Aircraft
• Military Aircraft
• Spacecraft
• Unmanned Aerial Vehicles
• Manufacturing Process
• AFP/ATL
• Filament Winding Process
• Layup Process
• Resin Transfer Molding Process
• Application
• Exterior
• Engine
• Fuselage
• Rotor Blades
• Tail Boom
• Wings
• Interior
• Cabin
• Environmental Control System Ducting
• Sandwich Panel
• Seats

Region

Americas

Argentina

Brazil

Canada

Mexico

United States

California

Florida

Illinois

New York

Ohio

Pennsylvania

Texas

Asia-Pacific

Australia

China

India

Indonesia

Japan

Malaysia

Philippines

Singapore

South Korea

Taiwan

Thailand

Vietnam

Europe, Middle East & Africa

Denmark

Egypt

Finland

France

Germany

Israel

Italy

Netherlands

Nigeria

Norway

Poland

Qatar

Russia

Saudi Arabia

South Africa

Spain

Sweden

Switzerland

Turkey

United Arab Emirates

United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year