Aerospace Composites Market Size and Growth Analysis by Region

Aerospace Composites Market: Driving the Skies Ahead

The aerospace industry is transforming rapidly, with lightweight, high-performance composite materials revolutionizing aircraft design and efficiency. As manufacturers aim to cut fuel costs, enhance performance, and meet strict emission norms, aerospace composites are becoming indispensable across the aviation sector.

Market Overview

According to Fortune Business Insights, The global aerospace composites market was valued at USD 14.66 billion in 2018 and is projected to reach USD 29.69 billion by 2026, exhibiting a CAGR of 9.27% during the forecast period. Major industry players such as Toray Advanced Composites, Hexcel Corporation, Teijin Limited, and Mitsubishi Chemical Corporation are leading the market through technological advancements and expanded production capacities.

LIST OF KEY COMPANIES PROFILED IN AEROSPACE COMPOSITES MARKET:

• LMI Aerospace, Inc.

• Owens Corning

• Hexcel Corporation

• Solvay S.A.

• Toray Advanced Composites

• Teijin Limited

• SGL Carbon

• Mitsubishi Chemical Corporation

• VX Aerospace Corporation

• Unitech Aerospace

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Key Growth Drivers

• Weight Reduction & Efficiency: Composites like carbon fiber, glass fiber, and aramid offer excellent strength-to-weight ratios, helping aircraft manufacturers build lighter and more fuel-efficient models.

• Emission Control: The increasing demand for lower carbon emissions and fuel consumption is driving the adoption of composites in aircraft structures and engines.

• Material Innovations: Advanced materials such as ceramic and metal matrix composites are gaining traction due to their ability to withstand high temperatures and mechanical stress.

• Rising Aircraft Deliveries: The global surge in commercial aircraft production is significantly boosting composite material demand across airframe and engine applications.

Segmentation Insights

• By Fiber Type: Carbon fiber dominates the market, accounting for nearly 80% of total usage due to its superior strength, stiffness, and lightweight characteristics.

• By Application: The commercial aircraft segment holds the largest market share, followed by military aircraft, business jets, and helicopters.

• By Region: North America remains the leading region owing to the strong presence of aerospace manufacturers, while Asia Pacific and Europe are witnessing rapid growth driven by increasing aircraft production.

Challenges and Restraints

• High Manufacturing Cost: The complex and expensive production process of composites limits their use in cost-sensitive applications.

• Repair and Inspection Complexity: Composite materials require specialized inspection and repair techniques, leading to longer maintenance cycles.

• Supply Chain Constraints: The limited availability of raw materials and skilled labor may restrict large-scale adoption in some regions.

Future Outlook

The future of aerospace composites looks promising as the aviation industry continues to prioritize sustainability and efficiency. Advancements in thermoplastic composites, automation in manufacturing, and the emergence of recyclable materials are expected to shape the next decade. Companies focusing on sustainable production and expanding their aftermarket services will gain a competitive edge in this rapidly evolving market.

Information Source: https://www.fortunebusinessinsights.com/aerospace-composites-market-102680

KEY INDUSTRY DEVELOPMENTS:

• January 2020 – Mitsubishi Chemical Corporation, a manufacturer of a variety of chemicals & materials headquartered in Japan, announced its plans to acquire c-m-p GmbH, a Germany-based manufacturer of Carbon Fiber Prepreg. This is expected to strengthen the company’s position in the carbon fiber composites market 

• February 2019 – Teijin Limited, a Japan-based manufacturer of wide of range fibers and other materials, announced the agreement to acquire Renegade Materials Corporation, a US-based manufacturer of composite materials for the aerospace industry.

Top 5 Trending FAQs

1. What is the size of the global aerospace composites market?
   The market was valued at USD 14.66 billion in 2018 and is expected to reach USD 29.69 billion by 2026.

2. What is the projected CAGR for the aerospace composites market?
   The market is anticipated to grow at a CAGR of 9.27% during the forecast period.

3. Which fiber type holds the largest share in the market?
   Carbon fiber composites dominate the market with nearly 80% share.

4. Which region leads the aerospace composites market?
   North America leads the market due to strong aerospace manufacturing and R&D activities.

5. What drives the demand for aerospace composites?
   The need for lighter, more fuel-efficient aircraft and emission reduction goals are the primary growth drivers.