Aerospace Composites

Aerospace Composites

Global Aerospace Composites Market to Reach US$59.4 Billion by 2030

The global market for Aerospace Composites estimated at US$32.5 Billion in the year 2023, is expected to reach US$59.4 Billion by 2030, growing at a CAGR of 9.0% over the analysis period 2023-2030. Carbon, one of the segments analyzed in the report, is expected to record a 9.9% CAGR and reach US$23.1 Billion by the end of the analysis period. Growth in the Ceramic segment is estimated at 9.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$10.3 Billion While China is Forecast to Grow at 11.3% CAGR

The Aerospace Composites market in the U.S. is estimated at US$10.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$7.7 Billion by the year 2030 trailing a CAGR of 11.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 6.6% and 8.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.3% CAGR.

Global Aerospace Composites Market - Key Trends & Drivers Summarized

Aerospace composites are advanced materials composed of a matrix, such as resin, reinforced with fibers like carbon, glass, or aramid, designed to meet the rigorous demands of the aerospace industry. These materials are valued for their high strength-to-weight ratio, which significantly reduces the weight of aircraft while enhancing performance and fuel efficiency. The adoption of composites in aerospace dates back to the 1960s, but recent decades have seen a surge in their application, driven by continuous advancements in material science and manufacturing techniques. Today, composites are integral to the construction of various aircraft components, including fuselages, wings, and tail sections, as well as in the production of engine parts and interior components.

Technological advancements have played a critical role in expanding the use and capabilities of aerospace composites. Innovations in manufacturing processes, such as automated fiber placement (AFP) and resin transfer molding (RTM), have improved the precision and efficiency of composite production, enabling the creation of complex and large-scale components. The development of new resin systems and high-performance fibers has further enhanced the mechanical properties of composites, offering superior resistance to fatigue, corrosion, and impact compared to traditional materials like aluminum and steel. Additionally, advancements in non-destructive testing (NDT) techniques ensure the integrity and reliability of composite structures, which is crucial for maintaining safety standards in the aerospace industry.

The growth in the aerospace composites market is driven by several factors, including the increasing demand for lightweight and fuel-efficient aircraft, advancements in composite materials and manufacturing technologies, and the expanding application of composites in military and commercial aviation. The rising cost of fuel and the need to reduce carbon emissions have compelled the aerospace industry to adopt lighter materials, propelling the demand for composites. Technological innovations, such as the development of next-generation composite materials with enhanced properties and more efficient production methods, have broadened the scope of composite applications. Additionally, the growing defense budgets and the modernization of military aircraft fleets have spurred the use of advanced composites in defense aerospace applications. The increasing production rates of commercial aircraft, driven by the recovery of air travel post-pandemic and the rising number of air passengers globally, further bolster the demand for aerospace composites. These factors collectively underscore the critical role of composites in the future of aerospace engineering and the continued expansion of this dynamic market.

Select Competitors (Total 104 Featured) -

• Bally Ribbon Mills
• DuPont de Nemours, Inc.
• Hexcel Corporation
• Materion Corp.
• Mitsubishi Chemical Carbon Fiber and Composites Inc.
• SGL Carbon SE
• Solvay S.A.
• Teijin Limited
• Toray Advanced Composites
• Unitech Composites Inc.
• VX Aerospace Corporation

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