New study forecasts demand for aerospace composites

Post date: Oct 15, 2009 6:16:57 AM

The demand for composite materials in global aerospace industry has increased significantly during the past three years, primarily attributable to the continued ramp-up of new and existing large commercial aircraft production and increased build rates across civil helicopters and certain aircrafts within the business jet market.

Overall the commercial aerospace industry continues to utilize a greater proportion of advanced composite materials with each new generation of aircraft. While the B787 was a key driver of growth in 2013, Composite Insights (Hyderabad, India) forecasts the A350 to be a significant driver of growth for composite materials during the next several years. Commercial aircraft deliveries from the manufacturers are set to grow again in 2014 and beyond, with Airbus and Boeing each planning to continue their incremental build-up in reaction to market demand. Growing air travel demand regardless of economic conditions, coupled with increasing fuel prices, will ensure the demand for newer and more efficient aircrafts.

New aircraft programs that are ramping up, such as Comac-C-919, Bombardier-C Series, Mitsubishi-MRJ21, Comac-ARJ21 and Sukhoi-Superjet-100, are expected to contribute to the growing demand for composite materials in civil aerospace. The growth civil helicopter production that has occurred in recent years is expect to continue the same trend driving the demand for composite materials.

Some of the market segments in the aerospace industry have been, to varying degrees, cyclical and have experienced downturns in the past. The broad aerospace industry for composite materials is highly competitive, and companies that focus on both specific submarkets and specialty products within markets would gain competitive advantage. Depending upon the material and submarkets, relevant competitive factors include product approvals, technology, product performance, delivery, service and pricing. Although growth rates for composite materials among the aerospace segments vary, the overall demand for composite materials is forecast to grow steadily to $4.7 billion in 2019.

Composites based on woven fabrics have historically been the material of choice used in the aerospace sector. However, the pattern of usage had been changing and the segment share for composites based on unidirectional and multi-axial fabrics is forecast to increase faster than composites based on woven fabrics.

Composite Insights has analyzed the global aerospace energy industry and presents its findings in “Global Aerospace Composites Industry 2014-2019: Trend and Forecast Analysis.” Composite Insights is a full service custom and syndicated research firm.

Source: http://www.compositesworld.com/news/new-study-forecasts-demand-for-aerospace-composites