Aero Engine Composite Material Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Aero Engine Composite Material Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Aero Engine Composite Material Market

The aero engine composite material market size was valued at USD 2.53 billion in 2021, and the market is now projected to grow from USD 2.87 billion in 2022 to USD 5.17 billion by 2029, exhibiting a CAGR of 8.76% during the forecast period of 2022-2029.

The occurrence of the COVID-19 pandemic and severe lockdown measures formed a vast impact on the aviation industry, resultant in a short-term closure of flight and disturbance in supply chain interruptions in aircraft and engine deliveries. Most airlines have cancelled their aircraft orders due to a shortage in passenger demand, which will also affect the aircraft engine market.

Technological developments in a variation of composite mergers are a key motivating factor in the aero engine composite material market growth. Producers of aero engine composite materials are expressively motivated on executing progressive aero engine composite material manufacturing techniques that upsurge engine fuel efficiency and decrease CO2 releases. Aircraft engines with high fuel effectiveness decrease carbon discharges and also decrease operative costs. Moreover, numerous government organizations have executed novel discharge guidelines, due to which the demand for fuel-efficient engines has supported the market.

Ceramics and ceramic-metal combinations are used in the hot section of the engine that is in the burning chambers due to their high heat resistance. They have very high melting points and do not need cooling systems, so they are used for manufacturing lighter, less complex engine parts. Ceramics is the most vital part of the aero engine composite material business as a number of scientific and trade innovations use this material to generate Ceramic Matrix Composites (CMC), which are extremely progressive in nature and exhibit high stiffness and power without losing their greater heat handling properties of ceramic and glass.

Comprehensive Analysis of Aero Engine Composite Material Market

The market can be segmented in various ways, depending on the focus of analysis such as by component, by application, by composite and by fiber type. Based on application, the market is segmented into commercial aircraft, military aircraft, and general aviation aircraft. Based on component, the market is segmented into fan blades, guide vanes, shrouds, engine casing, engine nacelle, and other cold end parts. Based on composite type, the market is segmented into polymer matrix composites, carbon matrix composites, and metal matrix composites. Based on fiber type, the market is segmented into carbon fibers, ceramic fibers, and glass fibers.

North America region is dominating the aero engine composite material market share due to occurrence of a huge number of performers and the occurrence of aircraft manufacturers and engine component producers.

The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Rolls Royce Holdings Plc (U.K.), GE Aviation (U.S.), Hexcel Corporation (U.S.), Meggitt Plc (U.K.), Albany International (U.S.), Nexcelle LLC (U.S.), Solvay (Belgium), DuPont de Nemours, Inc. (U.S.), Safran SA (France), FACC AG (Austria) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In July 2022, Hexcel Corporation joined hands with Spirit AeroSystems at its Aerospace Innovation Centre (AIC) to progress more viable aircraft manufacturing technologies for forthcoming aircraft production.

Segmentation Table

ATTRIBUTE

DETAILS

Study Period

2018-2029

Base Year

2021

Estimated Year

2022

Forecast Period

2022-2029

Historical Period

2018-2020

Unit

Value (USD Billion)

Segmentation

By Application

Commercial Aircraft

Military Aircraft

General Aviation Aircraft

By Component

Fan Blades

Guide Vanes

Shrouds

Engine Casing

Engine Nacelle

Other Cold End Parts

By Composite Type

Polymer Matrix Composites

Carbon Matrix Composites

Metal Matrix Composites

By Fiber Type

Carbon Fibers

Ceramic Fibers

Glass Fibers

By Geography

North America (U.S. and Canada)

Europe (U.K., Germany, France, Russia, and Rest of Europe)

Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

Rest of the World (Latin America and Middle East & Africa)Please Note: It will take 5-6 business days to complete the report upon order confirmation.