Global Aerostructure Composite Market Is Likely to Grow at A CAGR Value of Around 8.70% By 2028

02-Aug-2022 | Zion Market Research

The global aerostructure composite market size was worth around USD 15.70 billion in 2021 and is estimated to grow to about USD 25.90 billion by 2028, with a compound annual growth rate (CAGR) of approximately 8.70% over the forecast period. The report analyzes the aerostructure composite market drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the aerostructure composite market.

The fuselage, the wings, and the flight control surfaces are all examples of aerostructures, which are part of an aircraft's airframe. Recent developments in composite and additive manufacturing methods have changed the dynamics of international aftermarket and airframe requirements. Manufacturing of more lightweight, fewer-component aircraft is now possible because of the development of innovative composite solutions. Technology advancements have also allowed manufacturers to analyze an aircraft's construction using infrared light and computer modeling to determine its performance and longevity. These tests can be used to assess the aerostructures' integrity because they are crucial in guaranteeing that an aircraft can sustain aerodynamic forces. From helicopters and sophisticated combat aircraft to corporate jets and passenger flights, aerostructures are essential to various aircraft. Demand for military aircraft has been rising due to increased spending in the military and defense sector to improve the size of military aircraft fleets and their combat effectiveness in nations around the world. This is another crucial factor that is anticipated to fuel the global aerostructure composite market revenue growth in the future.

Global Aerostructure Composite Market

Composites were first only utilized in a few secondary structures, but as knowledge and technology advanced, the aerospace industry saw significant growth in the use of composites. Wings and fuselages are just two examples of the many basic structures that use composites nowadays. The aerospace sector uses a variety of material matrix composites, including metal particle reinforced, fiber-reinforced, and others. Although there are many difficulties and complexities in the aircraft composites manufacturing supply chain, composite manufacturers maintain a continuous supply of these materials worldwide.

The global aerostructure composite market is segregated based on fiber type, aircraft, and region. Based on fiber type, the market is divided into carbon, glass, and aramid. A large family of carbon composites has carbon structures dispersed throughout the material. They maintain their relative lightness while providing strength and rigidity. Glass fiber composites offer durability, stiffness, and high strength. The market is divided into commercial aircraft, military fixed-wing aircraft, business aircraft, general aviation, jet engines, and helicopters based on aircraft type. Among these, fixed-wing aircraft led the market in 2021 and is expected to maintain its dominance throughout the forecast period.

North America accounts for nearly 40% of global revenue for aerospace composites due to the region's developed aerospace industry. Hence, North America is anticipated to have a dominating position in the global aerostructure composite market in 2021. Large aerospace corporations like Boeing and Lockheed Martin, high air travel frequency, lower air travel costs, and significant R&D investments all contribute to the region's increased market income.

It is anticipated that the European aerostructure composites market will grow during the projected period. Large aerospace and defense businesses are in the area, which may account for the strong demand. France, Germany, and the U.K. are among the top producers of airplane components.

Key players functioning in the global aerostructure composite market include LMI Aerospace, Inc., Owens Corning, Hexcel Corporation, Solvay S.A., Toray Advanced Composites, Teijin Limited, SGL Carbon, Mitsubishi Chemical Corporation, V.X. Aerospace Corporation, Unitech Aerospace and others.

Recent developments:

  • A joint development agreement (JDA) between Solvay and SGL Carbon was signed in December 2019 to create the first composite materials based on large-tow intermediate modulus (I.M.) carbon fiber. These resources address the need to lower prices & CO2 emissions and enhance the manufacturing process and commercial aircraft's fuel efficiency.
  • Teijin Limited and Boeing reached an agreement in January 2019 to deliver unidirectional pre-impregnated tape (TENAX TPUD). The company's success in the aircraft industry over the long period was aided by this.
  • Teijin Limited purchased Renegade Materials Corporation in February 2019, which provided highly heat-resistant thermoset prepreg to the North American aerospace industry. As a result, the business was better able to maintain its position as a top supplier of solutions for aerospace applications.

Browse the full Aerostructure Composites Market By Fiber Type (Carbon Fiber Composites, Aramid Fiber Composites, Glass Fiber Composites, Others), By Aircraft Type (Commercial Aircraft, Business & General Aviation, Helicopter, Military Fixed Wings, Jet Engines and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028. Report at https://www.zionmarketresearch.com/report/aerostructure-composites-market

The global Aerostructure Composite Market is segmented as follows:

By Fiber Type

  • Carbon
  • Glass
  • Aramid
  • Others

By Aircraft

  • Commercial Aircraft
  • Military Fixed Wings
  • Business Aircraft
  • General Aviation
  • Jet Engines
  • Helicopter
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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