Dublin, May 29, 2024 (GLOBE NEWSWIRE) -- The "Global Aerospace Composites Market by Fiber Type (Glass Fiber, Carbon Fiber, Ceramic Fiber), Matrix Type (Polymer Matrix Composite, Metal Matrix Composite, Ceramic Matrix Composite), Manufacturing Process, Aircraft Type, Applications & Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global aerospace composites market is estimated at USD 29.1 billion in 2024 and is projected to reach USD 52.1 billion by 2029, at a CAGR of 12.3% from 2024 to 2029. The market for aerospace composites, including ceramic fiber composites, is expected to grow at a significant rate in the coming years, driven by the increasing demand for lightweight and high-performance materials in aerospace and other industries. 
In terms of value, polymer matrix composites segment accounted for the largest share of the overall aerospace composites market
The aerospace industry is a major driver for the growth of polymer matrix composites due to their exceptional properties. polymer matrix composites offer a lightweight alternative to traditional metals, resulting in increased fuel efficiency for aircraft. They also boast high strength and stiffness, crucial for parts that bear significant loads. Additionally, polymer matrix composites demonstrate good fatigue resistance and damage tolerance, essential for enduring the constant stresses of flight. These characteristics, coupled with their ability to be formed into complex shapes, make polymer matrix composites a perfect fit for the demanding needs of modern aerospace applications.
In terms of value, lay-up manufacturing process segment accounted for the third largest share of the overall aerospace composites market
In 2023, the lay-up manufacturing process segment accounted for the third largest share of the aerospace composites market, in terms of value. The lay-up manufacturing process is a traditional method used in the aerospace composites market for the fabrication of composite parts. The lay-up process is widely used in the aerospace industry due to its flexibility in producing complex shapes and its ability to accommodate various fiber architectures, making it suitable for manufacturing aircraft components.
During the forecast period, the aerospace composites market in Europe region is projected to be the second largest region
The increasing demand for aerospace composites in Europe is fueled by factors such as rising investment in performance aerospace material research and development, as well as increased spending on space exploration operations. The expansion of the tourism industry in the region is also projected to boost market growth, as commercial aircraft production increases to meet the rising demand for air travel. Europe's aerospace composites market is supported by the presence of key players in the region and several research and development facilities dedicated to creating novel and cutting-edge composite materials. This infrastructure contributes to the growth of the aerospace composites market in Europe.
Prominent companies include Solvay (Belgium), Toray Industries, Inc. (Japan), Mitsubishi Chemical Group Corporation (Japan), Hexcel Corporation (US), Teijin Limited (Japan), SGL Carbon (Germany), Spirit AeroSystems (US), Materion Corporation (US), Lee Aerospace (US), General Dynamics Corporation (US), Absolute Composites (India), FDC Composites Inc. (Canada), Avior Produits Integres Inc. (Canada), Collins Aerospace (US), Aernnova Aerospace S.A. (Spain).
Key Attributes
| Report Attribute | Details |
| No. of Pages | 340 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $29.1 Billion |
| Forecasted Market Value (USD) by 2029 | $52.1 Billion |
| Compound Annual Growth Rate | 12.3% |
| Regions Covered | Global |
Premium Insights
- High Demand from Commercial Aircraft Segment to Drive Market
- Carbon Fiber Composites Segment and Europe Led Market in 2023
- Polymer Matrix Held Largest Share in 2023
- AFTL/ATL Process Accounted for Largest Share in 2023
- Exterior Application Segment Dominated Market in 2023
- Commercial Aircraft Segment Held Largest Share in 2023
- US to Dominate Market During Forecast Period
Market Dynamics
- Drivers
- Rising Demand for New Generation Fuel-Efficient Air Fleet
- Increasing Requirement for Composite Materials in Aerospace Sector
- High Demand for Lightweight Composites from Aerospace Manufacturers
- Restraints
- Surge in Tariff due to Global Trade War
- Opportunities
- Reduction in Cost of Carbon Fibers
- Development of Advanced Software Tools for Aerospace Composites
- Increased Demand for Commercial Aircraft
- Challenges
- Recycling of Composite Materials
- Liquidity Crunch Plaguing Airlines
Supply Chain Analysis
- Raw Material
- Manufacturing Process
- Final Product
Pricing Analysis
- Average Selling Price Trend of Key Players, by Application
- Average Selling Price Trend, by Fiber Type
- Average Selling Price Trend, by Matrix Type
- Average Selling Price Trend, by Region
Technology Analysis
- Key Technology
- Additive Manufacturing and Robotics
- Traditional Molding
- Automated Lay-Up
- Complementary Technology
- Advanced Placed Ply
Patent Analysis
- Methodology
- Document Types
- Insights
- Legal Status
- Jurisdiction Analysis
- Top Applicants
- Patents by Boeing
- Patents by Airbus Operations GmbH
Case Study Analysis
- Case Study 1: Velocity Composites Expands into US Market and Supports GKN Aerostructures
- Case Study 2: GKN Aerospace and GE Aerospace Extend Partnership for Aeroengine Development and Production
- Case Study 3: Hexcel Introduces Latest Hextow Carbon Fiber Innovation
Companies Featured
- Solvay
- Hexcel Corporation
- Toray Industries, Inc.
- Mitsubishi Chemical Group Corporation
- Teijin Limited
- SGL Carbon
- Materion Corporation
- Spirit Aerosystems, Inc.
- Lee Aerospace
- General Dynamics Corporation
- Absolute Composites
- FDC Composites Inc.
- Avior Produits Integres Inc.
- Collins Aerospace
- Aernnova Aerospace, SA
- Arris Composites, Inc.
- Oxford Space Systems
- Changzhou Qifu Antai Composite Materials Technology Co. Ltd.
- GKN Aerospace
- Sekisui Aerospace
- ACP Composites, Inc.
- Advanced Composites Inc.
- Piran Advanced Composites
- Plastic Reinforcement Fabrics, Ltd.
- Kineco Kaman
For more information about this report visit https://www.researchandmarkets.com/r/ygagxg
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