Dublin, Nov. 09, 2023 (GLOBE NEWSWIRE) -- The "Asia-Pacific Advanced Space Composites Market - Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific advanced space composites market is on a rapid growth trajectory, with a projected value of $0.95 billion by 2033, a substantial increase from $0.26 billion in 2022. This growth, at a remarkable CAGR of 12.38% during the forecast period from 2023 to 2033, is primarily fueled by the increasing demand for lightweight and highly durable materials that are revolutionizing satellite technology and space exploration.
Market Introduction
The Asia-Pacific aerospace industry is witnessing the emergence of the advanced space composites market as a critical sector. Advanced space composites, known for their exceptional strength-to-weight ratios, endurance, and versatility, are reshaping space exploration, satellite technology, and various aerospace initiatives in the region.
Composites, a class of materials composed of multiple elements, offer superior mechanical, thermal, and structural properties. These materials are opening new opportunities to enhance the performance and efficiency of space systems.
Market Segmentation
The market is segmented as follows:
Segmentation 1: by Platform
- Satellites
- Launch Vehicles
- Deep Space Probes and Rovers
Segmentation 2: by Component
- Payloads
- Structures
- Antenna
- Solar Array Panels
- Propellent Tanks
- Spacecraft Module
- Sunshade Door
- Thrusters
- Thermal Protection
Segmentation 3: by Material
- Carbon Fiber
- Glass Fiber
- Thermoset
- Thermoplastic
- Nanomaterials
- Ceramic Matrix Composites (CMC) and Metal Matrix Composites (MMC)
- Others
Segmentation 4: by Manufacturing Process
- Automated Fiber Placement (ATL/AFP)
- Compression Molding
- Additive Manufacturing
- Others
Segmentation 5: by Region
- Asia-Pacific (China, Japan, India, and Rest-of-Asia-Pacific)
Key Drivers
The primary drivers propelling the Asia-Pacific Advanced Space Composites Market include:
- Lightweight and Durability: Increasing demand for materials that combine lightweight properties with exceptional durability, which are essential for modern space applications, offers unprecedented opportunities to enhance the effectiveness and capabilities of spaceborne equipment.
Key Players
Key players operating in the Asia-Pacific advanced space composites market include:
- Japan Aerospace Exploration Agency (JAXA)
- China National Space Administration (CNSA)
- Indian Space Research Organization (ISRO)
- CST Composites
- Toray Advanced Composites
- Rockman Advanced Composites
- Mitsubishi Chemical Corporation
- Nippon Graphite Fiber Co., Ltd
- ST Advanced Composites
Key Questions Addressed in the Report
The report answers crucial questions about the Asia-Pacific Advanced Space Composites Market, including:
- Key drivers and challenges in the market.
- Key opportunities in the market.
- Various aspects of products and their growth projections.
- Focus areas for new companies entering the market to stay ahead of the competition.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 70 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $0.3 Billion |
| Forecasted Market Value (USD) by 2033 | $0.95 Billion |
| Compound Annual Growth Rate | 12.4% |
| Regions Covered | Asia Pacific |
For more information about this report visit https://www.researchandmarkets.com/r/32l2tv
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