Dublin, Feb. 21, 2024 (GLOBE NEWSWIRE) -- The "Aerospace Composites - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Aerospace Composites Market to Reach $59.4 Billion by 2030
The global market for Aerospace Composites estimated at US$28.8 Billion in the year 2022, is projected to reach a revised size of US$59.4 Billion by 2030, growing at a CAGR of 9.5% over the analysis period 2022-2030. Carbon, one of the segments analyzed in the report, is projected to record a 10.4% CAGR and reach US$23.1 Billion by the end of the analysis period. Growth in the Ceramic segment is estimated at 9.7% CAGR for the next 8-year period. 
The report focuses on the development and adoption of new materials, which serves as the cornerstone for the growth of aerospace composites. It explores how advancements in materials continue to drive transformation and advancement within the aerospace composites market. Additionally, it provides a forecast of the global market for advanced materials, projecting values for the years 2023, 2025, 2027, 2029, and 2031.
An overview of the global economic landscape is presented, highlighting key trends and factors impacting the aerospace composites market. The competitive landscape is analyzed, including the market share of key competitors in 2023 and an assessment of their market presence as strong, active, niche, or trivial.
The U.S. Market is Estimated at $9.2 Billion, While China is Forecast to Grow at 11.8% CAGR
The Aerospace Composites market in the U.S. is estimated at US$9.2 Billion in the year 2022. 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 11.8% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7% and 8.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4.9 Billion by the year 2030.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 651 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $28.8 Billion |
| Forecasted Market Value (USD) by 2030 | $59.4 Billion |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Improving Outlook for the Aerospace Industry Bodes Well for Growth in the Market
- Growing Volume of Aircraft Retirement Drives Parallel Opportunity for New Aircraft Orders & Increased Demand for Composite Systems in the OEM Market
- Expansion in Global Fleet to Create Parallel Opportunity for Aerospace Composites in Aircraft Manufacturing
- New Route Expansion Signals a Good Return to Business & a Strong Business Case for New Aircraft Orders & Deliveries
- Growing Need for Global Fleet Upkeep Drives the MRO Market, Creating Parallel Demand for Composites in Replacement Parts Production
- Strong Demand for MRO Translates Into an Exciting Outlook for Aftermarket Replacement Parts & Components Manufacturing
- Aging Aircraft & the Ensuing Need to Ensure Airworthiness of Older Airplanes to Spur Opportunities for Aftermarket Replacement Propeller Systems
- Focus on Aircraft Lightweighting Drives Demand for Composites
- As the World Steps Up Military Spending Amid Rising Global Political Conflicts, It is Uninterrupted Growth for OEMs in the Military Aircraft Supply Chain
- Robust Defense Spending Amid the Unfortunate State of Global Geo-Political Affairs Opens Opportunities for Spending on Military Aircraft
- Here's Why Composites Remains the Dominant Aerospace Material Category
- Advanced Composites Storm into the Spotlight
- Nanocomposites Evolve into Advanced Solutions in Aircraft Construction
- Carbon Continues to Make Gains as Best-in-Class Aerospace Composites Material
- Focus on Sustainability & the Ensuing Pressure for Zero Carbon Flying to Drive New Opportunities for Sustainable Composites
- Compliance Standards for Reducing Emissions from Aviation to Become Stricter, Post Pandemic & Push Aircraft Retirements & Replacements
- Composite Aircraft Propellers Storm Into the Spotlight
- Strong Growth on the Cards for Ceramic Matrix Composites
- Composites Made of Thermoplastic Resins Gain Traction
- Despite Volatility, Expectations of Future Price Declines of Carbon Fiber Bodes Well for Increased Adoption of Carbon Fiber Composites in Aircraft
- Composite Recycling Storms Into the Spotlight
FOCUS ON SELECT PLAYERS (Total 104 Featured)
- Advanced Composites, Inc.
- Dow, Inc.
- DuPont de Nemours, Inc.
- General Electric Company
- Gurit Holding AG
- Hexcel Corporation
- Hexion Inc.
- Honeywell International, Inc.
- Hyosung Corporation
- Kineco Kaman Composites
- Koninklijke Ten Cate BV
- Materion Corporation
- Mitsubishi Rayon Co., Ltd.
- Nippon Graphite Fiber Corporation
- Owens Corning
- Quantum Composites, Inc.
- Renegade Materials Corporation
- Rolls-Royce Holdings PLC
- SGL Group - The Carbon Company
- Solvay SA
- Teijin Ltd.
- Toray Industries, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/p9r1zz
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