Pune, India, Aug. 30, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™, the global aerospace composites market size is expected to reach USD 29.69 billion by 2026 exhibiting a CAGR of 9.27% between 2019 and 2026. This is owing to the rapid development of the aerospace market into developing nations of the world. Aerospace composites are made up of two or more constituent parts of plastic supported by carbon fibers. Composites help to strengthen the overall structure of the aircraft, provide fuel efficiency, and improve the overall performance of the aircraft. A recently published report by Fortune Business Insights™. provides a comprehensive overview of the market and its prime growth trajectories. In 2018, the market value stood at USD 14.66 billion.
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List of Vendors of the Aerospace Composites Market are the following:
- Owens Corning
- Hexcel Corporation
- LMI Aerospace, Inc.
- Toray Advanced Composites
- Teijin Limited
- Solvay S.A.
- Mitsubishi Chemical Corporation
- VX Aerospace Corporation
- SGL Carbon
- Unitech Aerospace
- Other Players
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2019-2026 |
| Forecast CAGR | 9.27% |
| 2026 Value Projection | USD 29.69 Billion |
| Base Year | 2018 |
| Aerospace Composites Market Size in 2018 | USD 14.66 Billion |
| Historical Data | 2015-2017 |
| No. of Pages | 180 |
| Segments Covered | By Fiber Type, By Aircraft and Regional |
| Aerospace Composites Market Growth Drivers | Limitations of Metal in Aircrafts Will Open Doors of Opportunity for Market |
| Merger and Acquisition Strategies will Further Intensify Market Competition |
What are the Objectives of the Report?
The report offers a 360-degree overview of the market and its prime growth parameters such as drivers, restraints, challenges, and upcoming opportunities. It also talks about market segmentation based on factors such as aircraft type, fiber type, and geography and the names of the leading segment with their market figures. Besides this, the report throws light on the significant key industry developments, current aerospace composites market trends, and other interesting insights into the market. The report talks about the market competition, list of market manufacturers, and the key strategies adopted by them to reach the top of the game and earn the lion’s share in the market.
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Market Drivers
Limitations of Metal in Aircrafts Will Open Doors of Opportunity for Market
The expansion of the aerospace industry in the developing nations of Asia Pacific is a major factor promoting the aerospace composites market growth. For maintaining a proper growth rate of the market in these economies, airliners have to offer attractive offers at reasonable prices, keeping in mind the regional economic status of the region to local customers. Aircrafts composites help to provide efficient operations at cost-efficient rates. This is anticipated to boost the overall market. Additionally, metal has its own drawbacks, and the use of composites will solve those issues, providing durable, sturdy, anti-corrosive, and easy availability, thereby driving the market. Besides this, the increasing demand for high performance from military aircrafts is further propelling the demand for composites in aircrafts. The rising demand from the defense sector will also help the market gain impetus in the coming years.
Regional Segmentation:
Asia Pacific to Witness Rapid Growth owing to Increasing Demand for Mid-Sized Commercial Aircrafts
Most of the players in the global aerospace composites market have their base in North America. This stands as a significant reason for the region holding the largest aerospace composites market share. In 2018, this region earned $7,817.6 million owing to the availability of advanced technology needed for the production of complex components used in the aerospace industry.
Asia Pacific, on the other hand, is anticipated to witness significant CAGR on account of the rapid expansion of the aviation industry and the rising demand for mid-sized commercial aircrafts from nations such as India and China. Furthermore, the increasing investments in the defense sector and fighter planes in countries such as India are expected to create lucrative growth opportunities for the market in the coming years.
Competitive Landscape:
Merger and Acquisition Strategies will Further Intensify Market Competition
Players operating in the global aerospace composites market are emphasizing on adopting collaborative strategies such as mergers and acquisitions, agreements and contracts, joint ventures, and others. The adoption of such policies will help players compete intensely for earning the top position and earn high aerospace composites market revenue in the coming years.
The Study Objectives of this report are:
- To comprehend the design of aerospace composites market by recognizing its different sub-fragments.
- To study aerospace composites market by individual manufacturers' growth, and future trends.
- To study Product Overview and Scope of aerospace composites market segment, Revenue Sales Status, and Outlook
- To understand market Upstream and Downstream analysis
- To understand the aerospace composites market Competitive Situation and Trends
- To understand market Drivers, Restraints, Opportunities, and Challenges faced by aerospace composites market
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/aerospace-composites-market-102680
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Trends
- Overview of Global Aerospace Composites Production
- Global Aerospace Composites Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Fibre Type
- Carbon Composites
- Glass Composites
- Aramid Composites
- Others
- Market Analysis, Insights and Forecast – By Aircraft Type
- Commercial Aircraft
- Military Fixed Wings
- Business Aircraft
- General Aviation
- Jet Engines
- Helicopter
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
- North America Aerospace Composites Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Fibre Type
- Carbon Composites
- Glass Composites
- Aramid Composites
- Others
- Market Analysis, Insights and Forecast – By Aircraft Type
- Commercial Aircraft
- Military Fixed Wings
- Business Aircraft
- General Aviation
- Jet Engines
- Helicopter
- Others
- Market Analysis – By Country
- U.S.
- Canada
TOC Continued…!
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Key Industry Developments of Aerospace Composites Market includes:
March 2018 – The Washington-based Aim Aerospace called Renton was acquired by Sekisui Chemical of Japan by signing a contract worth $510 million from Liberty Hall Capital Partners, the private equity firm.
January 2020 – The Japanese producer of various chemicals and materials, namely Mitsubishi Chemical Corporation, announced the adoption of a merger and acquisition strategy with the German-based manufacturer of carbon Fiber Prepreg called c-m-p GmbH.
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