The aerospace composite materials market is expected to reach an estimated $3.8 billion by 2024 with a CAGR of 4.5% from 2019 to 2024
NEW YORK, Oct. 1, 2019 /PRNewswire/ -- Trends, opportunities and forecast in composites in the aerospace composite materials market to 2024 by aircraft type (commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, others), by reinforcement type (carbon composites, glass composites, aramid composites, others)), manufacturing process (hand lay-up, AFP/ATL, RTM, injection molding, compression molding, others), type of structure (primary structure interior, engine, others), component (wing, fuselage, empe
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The future of the aerospace composite materials market looks attractive with opportunities in commercial aircraft, regional aircraft, general aviation, helicopter, and military aircraft markets. The aerospace composite materials market is expected to reach an estimated $3.8 billion by 2024 with a CAGR of 4.5% from 2019 to 2024. The aerospace composites end product market is expected to reach an estimated $17.2 billion by 2024. Major drivers for this market are the growing demand for lightweight materials to increase fuel efficiency and growth of aircraft with high composites penetration such B787, A350WXB, and A380.
An emerging trend, which has a direct impact on the dynamics of the aerospace composite materials industry, includes the recycling of advanced composites. Hexcel, Cytec Solvay Group, Toray, Gurit, and Teijin are among the major suppliers of aerospace composites materials.
Aerospace Composites
Aerospace Composites
The study includes the aerospace composites materials market size and forecast for the composite materials in aerospace market through 2024, segmented by aircraft type, reinforcement type, manufacturing process type, by type of structure, by component segment, and by region as follows:
Composite Materials in Aerospace Market by Aircraft Type [$M shipment analysis from 2013 to 2024]:
Commercial AircraftMilitary AircraftRegional Aircraft
General AviationHelicopterOthers
Composite Materials in Aerospace Market by Reinforcement [$M shipment analysis from 2013 to 2024]:
Carbon Composites
Glass CompositesAramid CompositesOthers
Composite Materials in Aerospace Market by Manufacturing Process [$M shipment analysis from 2013 to 2024]:
AFP/ALTRTMCompression MoldingInjection MoldingHand LayupOthers
Composite Materials in Aerospace Market by Type of Structure [$M shipment analysis from 2013 to 2024]:
Primary StructureInteriorEngine Others
Composite Materials in Aerospace Market by Type of Component[$M shipment analysis from 2013 to 2024]:
WingsFuselageEmpennageEngineInteriorRadomeRotor BladeLanding GearOthers
Composite Materials in Aerospace Market by Region [$M shipment analysis for 2013 to 2024]:
North AmericaUnited StatesCanada MexicoEuropeUnited Kingdom
GermanyAsia PacificJapanChinaThe Rest of the World
Some of the aerospace composites materials companies profiled in this report include Hexcel Corporation, TenCate Advanced Composites, Toray Industries Inc., Teijin Limited, Cytec Solvay Group, Zodiac Aerospace, Spirit AeroSystems, Inc., Elbit Systems and others.
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The analyst forecasts that carbon fiber based composites is expected to witness the highest growth during the forecast period. Increasing penetration of carbon composites in commercial aircraft, such as B787 and A350XWB is expected to drive the demand for this segment over the forecast period from 2019 to 2024.
Within aerospace composite market, commercial aircraft will remain the largest market by value and volume consumption followed by military aircraft.
North America will remain the largest region during the forecast period due to a higher demand for newer aircraft and the ongoing replacement of an aging fleet.
Some of the features of "Composite Materials in Aerospace Market Report: Trends, Forecast and Competitive Analysis" include:
Market size estimates: composite materials in aerospace market size estimation in terms of value ($M) shipment.
Trend and forecast analysis: Market trend (2013-2018) and forecast (2019-2024) by application, and end use industry.
Segmentation analysis: Composite materials in aerospace market size by aircraft type, by reinforcement type, by manufacturing process, by type of structure, and by component in terms of value shipment.
Regional analysis: Composite materials in aerospace market breakdown by key regions such as North America, Europe, and Asia & Rest of World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of composite materials in aerospace market in the composite materials in aerospace market.
Strategic analysis: This includes M&A, new product development, and competitive landscape of composite materials in aerospace market of the composite materials in aerospace market.
Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers the following 11 key questions:
Q.1. How big are the opportunities for composites in the aerospace market by aircraft type (commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, others), by reinforcement type (carbon composites, glass composites, aramid composites, others)), manufacturing process (hand lay-up, AFP/ATL, RTM, injection molding, compression molding, others), type of structure (primary structure interior, engine, others), component (wing, fuselage, empennage, engine, interior, rotor blade, radome, landing gear, others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which product segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this aerospace composite materials market?
Q.5. What are the business risks and competitive threats in this aerospace composite materials market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the aerospace composite materials market?
Q.8. What are the new developments in the aerospace composite materials market and which companies are leading these developments?
Q.9. Who are the major players in this aerospace composite materials market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this aerospace composite materials market and how big of a threat do they pose for loss of market share by product substitution?
Q.11. What M&A activity has occurred in the last have years and what has its impact been on the aerospace composite materials industry?
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