Worldwide Aerospace Composites Market Forecasts, 2019 to 2024 – The Increasing Investments in R&D by Various Aerospace Companies is Supporting Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Aerospace
Composites Market – Growth, Trends, and Forecast (2019 – 2024)”

report has been added to ResearchAndMarkets.com’s
offering.

The aerospace composites market is anticipated to register a CAGR of
above 7%, during the forecast period.

The characteristics of composites, like temperature and chemical
resistance, light weight, high stiffness, dimensional stability, and
flex performance, among others, have made their use popular in various
aerospace components and structural applications.

Reduced maintenance and longer design life, fewer parts, and reduced
tooling and assembly costs are some of the reasons that drive the
composites market in the aerospace industry.

The increasing investments in R&D of advanced composite materials by
various aerospace companies, like General Electric, the Boeing Company,
and Airbus SE ,among others, is also supporting the growth of the
aerospace composites market.

Key Market Trends

The Military Segment Dominates, in Terms of the Market Share

The military segment of the market is expected to record the highest
CAGR, during the forecast period. The composites used in military
aircraft are lightweight, durable, and chemical and temperature
resistant.

The additional properties of composites used in military aircraft are
ballistic and low detection-ability by radars. For instance, carbon and
glass fibre-reinforced plastic laminates are used in Lockheed Martin
F-35 Lightning II in element, like vertical stabilizer, tailplane,
flaps, and wings skin that account for approximately 40% weight of
aircraft.

Military helicopter blades are also made of composite materials, which
makes it much lighter. The development of advanced materials and
composite fibers, which decrease the detection rate and weight of the
aircraft, is expected to drive the growth of the segments during the
forecast period.

Currently, North America Holds the Major Share in the Aerospace
Composites Market

North America is expected to remain the largest market, due to the
augmentation in end-user industries, and an increasing demand for
lightweight materials in the aerospace industry. The growth is mainly
driven by increasing consumption of aerospace composites in exterior and
interior parts in the commercial and military aircraft.

The United States is the largest consumer of aerospace composites,
globally, in terms of value and volume, and is expected to strengthen
its position further during the forecast period. The growth of the US
aerospace composites market is attributed to the presence of giant
players, such as Boeing and GE, along with the establishment of several
new composite manufacturing facilities in the country.

Competitive Landscape

The prominent players in the market are Toray Industries, SGL Carbon,
Hexcel Corporation, Solvay, and DuPont.

The partnerships of the companies with OEMs for the development of
components and parts of the aircraft, to increase the profitability of
the end user, is expected to open new market opportunities to the
existing players. Also, investments of companies into advanced
composites for space-based applications may also help increase their
market presence.

Topics Covered

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.3 Market Restraints

4.4 Porters Five Forces Analysis

5 MARKET SEGMENTATION

5.1 Fiber Type

5.1.1 Glass Fiber

5.1.2 Carbon Fiber

5.1.3 Ceramic Fiber

5.1.4 Other Fiber Types

5.2 Application

5.2.1 Military

5.2.2 Commercial

5.2.3 General Aviation

5.2.4 Space

5.3 Geography

5.3.1 North America

5.3.2 Europe

5.3.3 Asia-Pacific

5.3.4 Latin America

5.3.5 Middle East & Africa

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations and
Agreements

6.2 Vendor Market Share

6.3 Strategies Adopted by Leading Players

6.4 Company Profiles

6.4.1 Bally Ribbon Mills

6.4.2 Mitsubishi Chemical Carbon Fiber & Composites Inc.

6.4.3 Toho Tenax

6.4.4 Toray Industries Inc.

6.4.5 SGL Carbon SE

6.4.6 Hexcel Corporation

6.4.7 Solvay S.A.

6.4.8 DuPont

6.4.9 Royal Ten Cate

6.4.10 Materion Corp.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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Related
Topics: Commercial
Aerospace
, Composites