HYDERABAD, India, April 2, 2013 /PRNewswire/ --
The demand for composite materials in global aerospace industry has increased double digits in 2012 - primarily attributable to the continued ramp up of new and existing large commercial aircraft production and increased build rates across the military, 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. As both Airbus and Boeing increase the production rates for their newest aircraft programs, including the A380, B787 and A350, the demand for composite materials is expect to grow rapidly during the forecast period. New aerospace programs such as Comac C-919, Bombardier C Series, Mitsubishi MRJ21, Comac ARJ21, Sukhoi Superjet-100 expect to contribute to the growing demand for composite materials in civil aerospace. The growth in military aircraft and 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 segment in 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 amongst the aerospace segments vary, the overall demand for composite materials is forecast to grow steadily to $4.2 billion in 2018.
Composite Insights, a leading full service Custom & Syndicated Research firm, has conducted a market analysis on the industry and presents its findings in "Global Aerospace Composites Industry 2013-2018: Trend and Forecast Analysis." The report provides comprehensive analysis with accurate market size estimates for composite materials by market segments (commercial aircrafts, regional jets, military aircrafts, general aviation aircrafts, helicopters and spacecrafts).
Composite Insights is a full service Custom and Syndicated Research firm based in Hyderabad, India. For more information on this innovative research, please visit http://www.compositeinsights.com.
Source: Composite Insights Pvt. Ltd.
SOURCE Composite Insights Pvt. Ltd