Aerospace Composites Market Worth $41.4 Billion by 2025 - Exclusive Report by MarketsandMarkets™

CHICAGO, July 9, 2020 /PRNewswire/ --  According to the new market research report "Aerospace Composites Market by Fiber Type (Carbon Fiber Composites, Ceramic Fiber Composites, Glass Fiber Composites), Matrix Type, Manufacturing Process (AFP/ATL, Resin Transfer Molding), Application, Aircraft Type, and Region - Global Forecast To 2025", published by MarketsandMarkets™, the global Aerospace Composites Market is projected to grow from USD 23.8 billion in 2020 to USD 41.4 billion by 2025, at a CAGR of 11.7% during the forecast period. The market is growing due to the increase in the demand for high-performance materials, with properties such as low weight, high strength-to-weight ratio, good tensile strength, and electrical conductivity.

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=246663558

Browse in-depth TOC on "Aerospace Composites Market"

180 – Market Data Tables
51 – Figures
210 – Pages

View Detailed Table of Content Here:

https://www.marketsandmarkets.com/Market-Reports/aerospace-composites-market-246663558.html

Carbon fiber composites comprise a major share of the aerospace composites market

Carbon fibers composites are extensively used in aerospace applications, owing to their superior strength-to-weight ratio and anti-corrosive property. The aerospace industry has widely adopted carbon fiber composites for various applications, such as wings, fuselage, engine nacelles, fan casings, floorboards, and interior parts. The evolution in the manufacturing technology of carbon fiber composites parts is also driving its use in aerospace applications. The COVID-19 outbreak has resulted in the disruption in the supply chain, resulting in reduced demand for carbon fiber composites in the aerospace industry.

Polymer matrix type accounted for the largest share in the global aerospace composites market in terms of value and volume.

Polymer matrix composites materials are made by reinforcing fibers, such as carbon and glass fibers with matrix materials - thermoset or thermoplastic. Fiber-reinforced polymer matrix composites combine high strength, stiffness, toughness, and low density, and thus obtain high strength-to-density and stiffness-to-density ratios along with superior physical properties. These materials find applications in the structural components, interior components, and engine components used in aircraft. With the outbreak of COVID-19, there is a reduced demand for composites materials in the aerospace industry. This has forced the polymer matrix composites manufacturers to operate at partial or reduced capacities.

Exterior application accounted for the largest share in the global aerospace composites market in terms of value and volume.

Exterior structures of aircraft built with composite materials include landing gears, leading and trailing edges, engine nacelles, undercarriage, fuselage, and wings. Nowadays, composites materials such as carbon fiber composites are used in engine components and engine blades. The reduced demand for new commercial and business aircraft from the aviation industry due to the COVID-19 slowdown has resulted in a decline in the need for composites materials for exterior application.

Request Sample Pages:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=246663558

Commercial aircraft to account for the largest revenue share of the global aerospace composites market during the forecast period.

Aerospace composites are extensively used materials in interior and exterior applications of aircraft. The low weight, combined with high tensile strength of composite materials, increases the fuel efficiency, reduces maintenance costs, and allows OEMs to comply with the stringent environment regulations stipulated in Europe and North America. New aviation programs of major players, such as Boeing for top commercial aircraft, such as 787, 777X, and A350XWB, are using a significant amount of carbon fiber composites (about 50% of structural weight) for their airframe structures. A large number of commercial airplane deliveries in the single-aisle, widebody, twin-aisle, and regional jet segments are expected to increase the demand for carbon fiber composites during the forecast period.

The COVID-19 pandemic has impacted air travel as most of the airlines grounded their flights in the first quarter of 2020 and reduced flights. There are travel restrictions imposed by many countries. These factors have reduced new airplane demand as many airlines have postponed new aircraft delivery due to liquidity crunch. The reduced demand for new aircraft in 2020 is expected to reduce composite consumption in aerospace applications.

AFP/ATL is expected to account for the largest share in the aerospace composites market during the forecast period.

The ATL/ AFP processes use computer-guided robotics to lay one or more layers of carbon fiber tape onto a mold to create a part or structure. AFP/ATL machines help in increasing the production rate and precision in the manufacturing of aerospace composites and composite parts. AFP is a hybrid process between filament winding and tape laying, and hence, it combines the benefits of both the processes. This process is less time-consuming and leaves out very less scrap of raw materials, as compared with manual processes.

The market for AFP/ATL process is expected to decline in 2020 due to the COVID-19 pandemic. This decline in the market is attributed to decreased demand for composites for manufacturing structural components of aircraft as OEM's, such as Boeing, Airbus, and Embraer are expected to reduce aircraft manufacturing in 2020.

Europe is expected to account for the largest share in the aerospace composites market during the forecast period.

Europe accounted for the largest market share in the aerospace composites market due to high demand from commercial aerospace industries. Moreover, it is home to many key aerospace composite manufacturers, such as SGL Carbon, Solvay, and TenCate. Increased deliveries of Airbus aircraft primarily drives the composites material demand in Europe. Apart from this, the region develops military aircraft and helicopters.  The European region is one of the worst affected by the COVID-19, resulting in decreased industrial and economic activities across all major countries such as Germany, France, the UK, Italy, and France. In the first quarter, the number of aircraft deliveries of Airbus has reduced, resulting in less demand for composite materials.

The major manufacturers profiled in this report include Solvay (Belgium), Toray Industries, Inc. (Japan), Mitsubishi Chemical Holdings (Japan), Hexcel Corporation (US), Teijin Limited (Japan), SGL Group (Germany), and Spirit AeroSystems (US.). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the aerospace composites market.

Browse Adjacent Market: Fibers and Composites Market Research Report & consulting

Related Reports:

COVID-19 Impact on Composites Market by Fiber Type (Glass Fiber, Carbon Fiber and Natural Fiber), Resin (Thermoset Resin and Thermoplastic Resin), End-use Industry and Region - Global Forecast to 2021

https://www.marketsandmarkets.com/Market-Reports/covid-19-impact-on-composite-market-175185951.html 

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/ 
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/aerospace-composites-market.asp 
Source content: https://www.marketsandmarkets.com/PressReleases/aerospace-composites.asp 

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg