Aerospace Composites Market Introduction:
The Risk-Based Aerospace Composites Market is expected to index a valuation of $XX million from a value of $XX registered in 2021. Over the course of this forecast timeline, the global scroll & absorption chillers market is slated to index a CAGR of X.X%.
Composites are versatile, used for both structural applications and components, in all aircraft and spacecraft, from hot air balloon gondolas and gliders to passenger airliners, fighter planes, and the space shuttle.
Aerospace Composites Market Dynamics:
Rapid advancements in composite materials for aircraft application in order to reduce aircraft weight, increasing demand for commercial aircraft, and rising adoption of composite materials in interior and exterior of aircraft from manufacturers, owing to high mechanical properties are major factors expected to drive the growth of the global aerospace composites market.
In addition, increasing government expenditure on the defense sector and manufacturers' approach towards the development of composite materials, which are lightweight and fuel-efficient are some other factors expected to support the growth of the global market.
Moreover, increasing trade activities across the globe and rising tourism activities in developed and developing countries, coupled with an increasing manufacturing approach towards reducing the cost of manufacturing and assembly of aircraft are some other factors expected to support the growth of the global market over the forecast period.
However, issues related to the recycling of some composite materials are a major factor expected to hamper the growth of the global aerospace composites market. In addition, lack of technology and standardization related to the use of materials are other factors expected to limit the growth of the global market to a certain extent.
Technological advancements and increasing investment in R&D activities by major players is expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period.
On the basis of resin segment, the global aerospace composites market is segmented into epoxy, phenolic, polyester, polyimides, thermoplastics, ceramic, and metal matrix. The epoxy segment is expected to contribute a significant revenue share in the global market over the forecast period.
The market in North America is expected to dominate the global aerospace composites market and is expected to continue its dominance over the forecast period. The dominance can be attributed to increasing demand from the defense sector, increasing trade activities in the country, and the presence of major players operating in the countries in this region. In addition, increasing merger and acquisition activities among regional and international players are expected to further support the growth of the market in this region. The market in the Asia Pacific is expected to witness faster growth, owing to increasing tourism in the countries such as India and China. The market in Europe is expected to contribute significant revenue share in the global market over the forecast period.
Global Aerospace Composites Market Segmentation:
- Metal Matrix
- Commercial Aircraft
- Single Engine Piston
- Military Aircraft
By Fiber Type:
- Carbon Fiber Composites
- Ceramic Fiber Composites
- Glass Fiber Composites
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Solvay SA
- Royal Tencate N.V.
- Hexcel Corp.
- Toray Industries, Inc.
- Teijin Limited
- SGL Group—The Carbon Company
- Materion Corporation
- Owens Corning
- Mitsubishi Rayon Co. Ltd.
- Gurit Holding AG
- General Electric Company
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