The global ceramic matrix composites market to grow at a CAGR of 9.95% during the period 2017-2021.
The report, Global Ceramic Matrix Composites Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is the increasing demand for LEAP engine in the aerospace industry. The LEAP engine manufactured by GE in the last two years has triggered the demand for CMCs in the aerospace industry. This initiative includes the manufacturing and supplying of CMC-based jet engines by GE Aviation, a subsidiary of GE.
CFM International, a joint venture between GE Aviation and Snecma, is developing a high-bypass turbofan engine using high-performance composite materials. The production of turbo engines will reduce the fuel consumption by 15%. Moreover, the LEAP program has attracted more than 5,100 orders to GE Aviation; it is planning to achieve a target of 1,720 engines by 2018. For instance, COMAC has planned to use LEAP engine in its new aircraft, COMAC C919. This initiative has also benefited the key players in the aviation sector, such as Boeing and Airbus.
According to the report, one of the major drivers for this market is the growing demand for lightweight and high-performance materials. There is an increased demand for lightweight and high-performance materials from various end-user industries. These advanced materials can be used in various industrial applications to gain benefits from their energy-saving and wear-resistance properties. They are preferred in high friction applications as thermally conductive materials. These materials are widely used in aerospace and defense, and automobiles industries. Among the various types of high-performance materials, CMCs are preferred widely owing to their properties such as high-temperature resistance, thermal shock resistance, and non-conductive nature.