NEW YORK, Nov. 2, 2016 /PRNewswire/ --
"Aerospace composites market projected to grow at a CAGR of 8.95%"
The global aerospace composites market is projected to reach USD 32.35 billion by 2021, at a CAGR of 8.95% from 2016 to 2021. The major drivers stimulating the growth of the global aerospace composites market are, the increasing demand for light weight, fuel efficient and high performance materials from commercial airline companies, increased penetration of composites in advanced aircraft as well as low cost carriers and the high worldwide growth in the number of new generation aircraft deliveries. However, issues related to recyclability and the lack of standardization in manufacturing technologies, are restraining the growth of the aerospace composites market.
"Exterior structural applications accounted for the largest market share in the aerospace composites market, by value."
Aerospace composites are extensively used in exterior aircraft components such as fuselage, wings, undercarriage, propulsion system and others. The key drivers for aerospace composites are, the global growth in the number of airplane deliveries in the near future, high performance properties such as being light weight, excellent safety & acoustic features and complying eco-friendly regulations. In order to comply with the eco-friendly regulations, aerospace manufacturers such as Boeing (U.S.), Airbus (France), GE Aviation (U.S.), and others have started using aerospace composites to manufacture exterior as well as interior components of aircraft. Thus, investing in aerospace composites production for exterior structural aerospace components would be the most profitable revenue pocket for stakeholders.
"North America is the fastest-growing market for aerospace composites."
North America is expected to be the fastest-growing market for aerospace composites during the forecast period. Increased number of aircraft deliveries, clearance in the backlog of aircraft orders by commercial airline companies, and the replacement of old aircraft with advanced ones, is driving the growth of the aerospace composites market in North America. The U.S. leads the market for aerospace composites in North America. Further, the penetration of aerospace composites in the U.S. aerospace industry is expected to increase due to capacity expansion for the production of aerospace composites by major composite manufacturers, the increased budget for defense aircraft programs and growth in the aerospace industry due to a stable economy.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories:
- By company type- Tier 1- 35%, Tier 2- 25%, and Tier 3- 40%
- By designation- C Level- 30%, Director Level- 25%, and Others- 45%
- By region- North America- 30%, Europe- 25%, Asia-Pacific- 30%, Latin America- 10% and Middle East & Africa- 5%
The report provides a comprehensive analysis of company profiles, which include:
- Solvay Group (Belgium)
- Toray Industries, Ltd. (Japan)
- Teijin Ltd. (Japan)
- Hexcel Corporation (U.S.)
- Royal Ten Cate (Netherlands)
- SGL group (Germany)
- Owens Corning (U.S.)
- Mitsubishi Rayon Co., Ltd. (Japan)
- Materion Corporation (U.S.)
- Renegade Materials Corporation (U.S.)
The report covers the global aerospace composites market and the usage of aerospace composites in various structural components of different types of aircraft. It aims at estimating the market size and future growth potential of this market across different segments such as application, service, deployment type, user type, industry verticals, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Reasons to buy the report:
The report will help market leaders/new entrants in this market by providing them the closest approximations of the revenues for the overall aerospace composites market and the subsegments. This report will help stakeholders to better understand the competitive landscape and gain more insights, to better position their businesses and market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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