Aerospace Composites Market Size - By Fiber (Glass, Carbon/Graphite, Ceramic, Aramid), By Resin (Thermosetting [Epoxy, Phenolics, Polyester, Polyimides], Thermoplastic [Polyether Ether Ketone, Polysulfone, Polyetherimide]), Aircraft, Application & Forecast, 2021 - 2027
Published on: 2024-07-07 | No of Pages : 240 | Industry : Aerospace
Publisher : MRA | Format : PDF&Excel
Aerospace Composites Market Size - By Fiber (Glass, Carbon/Graphite, Ceramic, Aramid), By Resin (Thermosetting [Epoxy, Phenolics, Polyester, Polyimides], Thermoplastic [Polyether Ether Ketone, Polysulfone, Polyetherimide]), Aircraft, Application & Forecast, 2021 - 2027
Aerospace Composites Market Size - By Fiber (Glass, Carbon/Graphite, Ceramic, Aramid), By Resin (Thermosetting [Epoxy, Phenolics, Polyester, Polyimides], Thermoplastic [Polyether Ether Ketone, Polysulfone, Polyetherimide]), Aircraft, Application & Forecast, 2021 - 2027
Aerospace Composites Market Size
Aerospace Composites Market size exceeded USD 10 billion in 2020 and is anticipated to exhibit a CAGR of over 7.3% from 2021 to 2027.
Rising growth of aerospace composites applications in commercial and military aircraft, to meet lightweight and sturdy component requirements will boost the overall market growth. Factors including weight reduction and high impact resistance will support the aerospace composites market expansion. In addition, the extensive usage of interior and exterior applications will further enhance the overall product penetration. The expansion of commercial and defense industries is expected to witness strong growth during the forecast time frame. Moreover, increasing defense spending will influence the market progression in the coming years.
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Advancements in manufacturing techniques along with easy machinability will foster composite material demand. Composites can be manufactured in various complex shapes that offer reduced material wastage and corrosion resistance, in turn, further propelling product penetration. The high quality of the composites in outside airframe structures, such as undercarriage, fuel components, and wings, will stimulate the product demand. Strong product penetration in airframe structures will accelerate the industry growth. Aerospace composites market players are focusing on recycling composites for re-usage in the MRO industry, which will spur the product penetration.
The COVID-19 pandemic and grounding of Boeing 737 MAX have adversely impacted the aviation sector in 2020. Complete restrictions on international traveling in several economies across Europe and APAC during the first H1 of FY2020 have a severe impact on the aerospace composites market. Several airlines have dropped their plans to purchase new aircraft and some have postponed their plans. Furthermore, industry leaders have reported an adverse impact on revenue generation during FY 2020.
| Report Attribute | Details |
|---|---|
| Base Year | 2020 |
| Aerospace Composites Market Size in 2020 | 9,965.7 Million (USD) |
| Forecast Period | 2021 to 2027 |
| Forecast Period 2021 to 2027 CAGR | 7.3% |
| 2027 Value Projection | 16,113.0 Million (USD) |
| Historical Data for | 2017 to 2020 |
| No. of Pages | 550 |
| Tables, Charts & Figures | 828 |
| Segments covered | Fiber, Resin, Aircraft, Application, Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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Aerospace Composites Market Analysis
The carbon segment in the aerospace composites market will dominate 60% of revenue share by 2027. Carbon is widely used to create high-quality precision components used in the manufacturing and treating of high-quality components such as machine plates, nuts, bolts, and posts. Superior strength, hardness, and flexibility are the key factors driving the industry expansion of graphite in aerospace applications. In addition to this, the material is widely used in engine parts, such as impellers and rotors, providing safety against sparks. Lightness, resistance to extreme temperatures, and enhanced strength are the key properties supporting the industry progression. Additionally, graphite possesses self-lubrication properties, providing a stable behavior and reduced maintenance.
The thermosetting aerospace composites market is slated to generate a demand of more than 45 kilo tons by 2027. Thermosetting resins are among the most widely used synthetic materials. Easy applicability owing to a change in shape and compatibility with other materials are some of the key properties positively impelling product penetration. These resins are widely used as adhesives and bonding agents. Processing, fabrication, and composite material properties are among the key factors affecting the chemical & physical properties of the resins.
Epoxy is widely used in high-performance materials with a high demand for advanced materials, delivering enhanced performance in aircraft design and assembly along with the repair of interior & exterior aircraft components. Aerospace composites are in high demand as flame, smoke, and toxicity-resistant materials. Growing applications as structural components in aircraft due to their properties, such as enhanced performance in high temperature/high humidity environments, will further support the industry demand. The epoxy material is highly used in interior applications such as insert potting, reinforcement, panel joining, and panel structures.
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The commercial aerospace composites market accounted for USD 6 billion in 2020. Growing affordability of flights has increased the number of air passengers traveling in past few years. The growth in the overall passengers will further increase the market revenue. Composites account for more than 50% of the overall market share. Increasing advantages of product usage, such as weight reduction and an increase in the overall efficiency of the aircraft, will fuel the industry size. Moreover, the advantage over other counterparts during manufacturing and molding will support the overall market value.
The exterior application segment will showcase around 7.5% growth rate through 2027. Exterior aerospace applications require composites, which have higher operating temperatures and better curing properties. They offer sturdy aerospace frames, which will further foster the industry revenue. Continuous R&D in enhancing the performance of commercial and military applications has resulted in increased usage of composite materials owing to their exceptional strength, higher stiffness-to-density ratio, and superior physical properties. Furthermore, aerospace composites reduce production time, have higher damage tolerance during production, and enable 20% weight reduction.
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North America aerospace composites market will hold over 35% revenue share by 2027. The region dominates the overall aerospace industry with the highest number of commercial and defense aircraft in the world. Increasing exports along with rising demand from the aerospace sector will augment product demand during the forecast timeframe. The U.S. has majorly influenced the market credited to a vast expansion in the aerospace industry along with high demand from the rest of the region will positively impact the overall industry value.
Aerospace Composites Market Share
Key companies functioning in the aerospace composites market are
- Hexcel
- E.I. DuPont de Nemours
- LMI Aerospace
- Solvay Group
- BASF SE
Companies induce forward, backward, or full integration strategies between raw material manufacturers, composites manufacturers, and distributors. Aerospace market players mostly adopt forward integrated, involving the manufacturing and distribution of the product.
The aerospace composites market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons and revenue in USD Million from 2017 to 2027 for the following segments
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Market, By Fiber
- Glass
- Carbon/Graphite
- Ceramic
- Aramid
- Others
Market, By Resin
- Thermosetting
- Epoxy
- Phenolic
- Polyester
- Polyimides
- Others
- Thermoplastic
- Polyether ether ketone (PEEK)
- Polysulfone (PSU)
- Polyetherimide (PEI)
- Others
Market, By Aircraft
- Commercial aircraft
- General aviation
- Business jets
- Piston airplanes
1. Single-engine piston
2. Multi-engine piston - Piston turboprops
1. Single-engine turboprops
2. Multi-engine turboprops - Helicopters
1. Turbine helicopters
2. Piston helicopters
- Military aircraft
- Space
- Others
Market, By Application
- Interior
- Exterior
The above information is provided on a regional and country basis for the following
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Poland
- Russia
- Netherlands
- Sweden
- Asia Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- Qatar
- UAE
- Bahrain
- Oman
- South Africa
Table of Content
Report Content
Chapter 1 Methodology and Scope
1.1 Market definitions
1.2 Base estimation & working
1.2.1 North America
1.2.2 Europe
1.2.3 APAC
1.2.4 LATAM
1.2.5 MEA
1.3 Forecast calculation
1.3.1 COVID-19 impact calculations on industry forecast
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Aerospace composites Industry 360° synopsis, 2017 - 2027
2.1.1 Business trends
2.1.2 Fiber trends
2.1.3 Resin trends
2.1.4 Aircraft trends
2.1.5 Application trends
2.1.6 Regional trends
Chapter 3 Aerospace Composites Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2017 – 2027
3.2.1 COVID-19 impact on industry landscape
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Manufacturers
3.3.3 Distribution channel analysis
3.3.4 Vendor matrix
3.4 Technology landscape
3.4.1 Nano-modified aerospace composites
3.4.2 Composite wing spars
3.4.3 Automated composite manufacturing pilot plant
3.4.4 Thermoplastics at the forefront of composite technology
3.4.5 Composite engine components driving efficiency in aviation
3.5 Raw material analysis
3.5.1 Carbon
3.5.2 Glass
3.5.3 Ceramic
3.5.4 Aramid
3.5.5 COVID-19 impact on raw material supply, by region
3.5.5.1 North America
3.5.5.2 Europe
3.5.5.3 Asia Pacific
3.5.5.4 LATAM
3.5.5.5 MEA
3.6 Benefits of aerospace composites
3.6.1 Provides strength-to-weight ratio
3.6.2 Increases durability
3.6.3 Ability to create complex designs
3.7 Future of composites in aerospace
3.7.1 Materials development
3.7.2 Carbon fiber availability
3.8 Regulatory landscape
3.8.1 North America
3.8.2 Europe
3.8.3 Asia Pacific
3.8.3.1 China
3.8.3.2 India
3.8.4 Latin America
3.8.5 MEA
3.9 Pricing analysis
3.9.1 Regional pricing
3.9.1.1 North America
3.9.1.2 Europe
3.9.1.3 Asia Pacific
3.9.1.4 Latin America
3.9.1.5 MEA
3.9.2 Cost structure analysis
3.9.3 COVID-19 impact on pricing
3.10 Industry impact forces
3.10.1 Growth drivers
3.10.1.1 Growing aviation industry coupled with rising demand for fuel-efficient aircraft
3.10.1.2 Robust demand for high strength and lightweight composite materials
3.10.1.3 Propelling space exploration and defense industry
3.10.2 Industry pitfalls & challenges
3.10.2.1 High material and manufacturing cost
3.11 Innovation & sustainability
3.11.1 Innovation in fibers
3.11.2 Innovation in resins
3.11.3 Innovation in cores
3.11.4 Innovation in composites technology
3.11.5 Future trends including COVID-19 impact
3.11.5.1 Production trends
3.11.5.2 Demand trends
3.12 Growth potential analysis
3.13 Porter’s analysis
3.13.1 Supplier power
3.13.2 Buyer power
3.13.3 Threat of new entrants
3.13.4 Threat of substitutes
3.13.5 Industry rivalry
3.14 Competitive landscape
3.14.1 Company market share analysis, 2020
3.14.2 Strategy landscape
3.15 PESTEL analysis
Chapter 4 Aerospace Composites Market, By Fiber
4.1 Global aerospace composites market fiber insights
4.2 Glass
4.2.1 Global market estimates and forecasts, 2017 - 2027
4.2.2 Market estimates and forecast, by region, 2017 - 2027
4.3 Carbon/graphite
4.3.1 Global market estimates and forecasts, 2017 - 2027
4.3.2 Market estimates and forecast, by region, 2017 – 2027
4.4 Ceramic
4.4.1 Global market estimates and forecasts, 2017 - 2027
4.4.2 Market estimates and forecast, by region, 2017 - 2027
4.5 Aramid
4.5.1 Global market estimates and forecasts, 2017 - 2027
4.5.2 Market estimates and forecast, by region, 2017 - 2027
4.6 Others
4.6.1 Global market estimates and forecasts, 2017 - 2027
4.6.2 Market estimates and forecast, by region, 2017 - 2027
Chapter 5 Aerospace Composites Market, By Resin
5.1 Global aerospace composites market product insights
5.2 Thermosetting
5.2.1 Global market estimates and forecasts, 2017 - 2027
5.2.2 Market estimates and forecast, by region, 2017 – 2027
5.2.3 Epoxy
5.2.3.1 Global market estimates and forecasts, 2017 - 2027
5.2.3.2 Market estimates and forecast, by region, 2017 – 2027
5.2.4 Phenolics
5.2.4.1 Global market estimates and forecasts, 2017 - 2027
5.2.4.2 Market estimates and forecast, by region, 2017 – 2027
5.2.5 Polyester
5.2.5.1 Global market estimates and forecasts, 2017 - 2027
5.2.5.2 Market estimates and forecast, by region, 2017 – 2027
5.2.6 Polyimides
5.2.6.1 Global market estimates and forecasts, 2017 - 2027
5.2.6.2 Market estimates and forecast, by region, 2017 – 2027
5.2.7 Others
5.2.7.1 Global market estimates and forecasts, 2017 - 2027
5.2.7.2 Market estimates and forecast, by region, 2017 – 2027
5.3 Thermoplastic
5.3.1 Global market estimates and forecasts, 2017 - 2027
5.3.2 Market estimates and forecast, by region, 2017 – 2027
5.3.3 PEEK
5.3.3.1 Global market estimates and forecasts, 2017 - 2027
5.3.3.2 Market estimates and forecast, by region, 2017 – 2027
5.3.4 PSU
5.3.4.1 Global market estimates and forecasts, 2017 - 2027
5.3.4.2 Market estimates and forecast, by region, 2017 – 2027
5.3.5 PEI
5.3.5.1 Global market estimates and forecasts, 2017 - 2027
5.3.5.2 Market estimates and forecast, by region, 2017 – 2027
5.3.6 Others
5.3.6.1 Global market estimates and forecasts, 2017 - 2027
5.3.6.2 Market estimates and forecast, by region, 2017 – 2027
Chapter 6 Aerospace Composites Market, By Aircraft
6.1 Global aerospace composites market aircraft insights
6.2 Commercial aircraft
6.2.1 Global market estimates and forecasts, 2017 - 2027
6.2.2 Market estimates and forecast, by region, 2017 - 2027
6.3 General Aviation
6.3.1 Global market estimates and forecasts, 2017 - 2027
6.3.2 Market estimates and forecast, by region, 2017 – 2027
6.3.3 Piston airplanes
6.3.3.1 Global market estimates and forecasts, 2017 - 2027
6.3.3.2 Market estimates and forecast, by region, 2017 – 2027
6.3.3.3 Single-engine piston
6.3.3.3.1 Global market estimates and forecasts, 2017 - 2027
6.3.3.3.2 Market estimates and forecast, by region, 2017 – 2027
6.3.3.4 Multi-engine piston
6.3.3.4.1 Global market estimates and forecasts, 2017 - 2027
6.3.3.4.2 Market estimates and forecast, by region, 2017 – 2027
6.3.4 Turboprop airplanes
6.3.4.1 Global market estimates and forecasts, 2017 - 2027
6.3.4.2 Market estimates and forecast, by region, 2017 – 2027
6.3.4.3 Single-engine turboprops
6.3.4.3.1 Global market estimates and forecasts, 2017 - 2027
6.3.4.3.2 Market estimates and forecast, by region, 2017 – 2027
6.3.4.4 Multi-engine turboprops
6.3.4.4.1 Global market estimates and forecasts, 2017 - 2027
6.3.4.4.2 Market estimates and forecast, by region, 2017 – 2027
6.3.5 Helicopters
6.3.5.1 Global market estimates and forecasts, 2017 - 2027
6.3.5.2 Market estimates and forecast, by region, 2017 – 2027
6.3.5.3 Piston helicopters
6.3.5.3.1 Global market estimates and forecasts, 2017 - 2027
6.3.5.3.2 Market estimates and forecast, by region, 2017 – 2027
6.3.5.4 Turbine helicopters
6.3.5.4.1 Global market estimates and forecasts, 2017 - 2027
6.3.5.4.2 Market estimates and forecast, by region, 2017 – 2027
6.4 Military aircraft
6.4.1 Global market estimates and forecasts, 2017 - 2027
6.4.2 Market estimates and forecast, by region, 2017 – 2027
6.5 Space
6.5.1 Global market estimates and forecasts, 2017 - 2027
6.5.2 Market estimates and forecast, by region, 2017 – 2027
6.6 Others
6.6.1 Global market estimates and forecasts, 2017 - 2027
6.6.2 Market estimates and forecast, by region, 2017 - 2027
Chapter 7 Aerospace Composites Market, By Application
7.1 Global aerospace composites market application insights
7.2 Interior
7.2.1 Global market estimates and forecasts, 2017 - 2027
7.2.2 Market estimates and forecast, by region, 2017 - 2027
7.3 Exterior
7.3.1 Global market estimates and forecasts, 2017 - 2027
7.3.2 Market estimates and forecast, by region, 2017 - 2027
Chapter 8 Aerospace Composites Market, By Region
8.1 Global aerospace composites market regional insights
8.2 North America
8.2.1 Market estimates and forecast, 2017 - 2027
8.2.2 Market estimates and forecast by fiber, 2017 – 2027
8.2.3 Market estimates and forecast by resin, 2017 - 2027
8.2.4 Market estimates and forecast by aircraft, 2017 – 2027
8.2.5 Market estimates and forecast by application, 2017 - 2027
8.2.6 U.S.
8.2.6.1 Market estimates and forecast, 2017 - 2027
8.2.6.2 Market estimates and forecast by fiber, 2017 – 2027
8.2.6.3 Market estimates and forecast by resin, 2017 - 2027
8.2.6.4 Market estimates and forecast by aircraft, 2017 - 2027
8.2.6.5 Market estimates and forecast by application, 2017 - 2027
8.2.7 Canada
8.2.7.1 Market estimates and forecast, 2017 - 2027
8.2.7.2 Market estimates and forecast by fiber, 2017 – 2027
8.2.7.3 Market estimates and forecast by resin, 2017 - 2027
8.2.7.4 Market estimates and forecast by aircraft, 2017 – 2027
8.2.7.5 Market estimates and forecast by application, 2017 - 2027
8.3 Europe
8.3.1 Market estimates and forecast, 2017 - 2027
8.3.2 Market estimates and forecast by fiber, 2017 – 2027
8.3.3 Market estimates and forecast by resin, 2017 - 2027
8.3.4 Market estimates and forecast by aircraft, 2017 – 2027
8.3.5 Market estimates and forecast by application, 2017 - 2027
8.3.6 Germany
8.3.6.1 Market estimates and forecast, 2017 - 2027
8.3.6.2 Market estimates and forecast by fiber, 2017 – 2027
8.3.6.3 Market estimates and forecast by resin, 2017 - 2027
8.3.6.4 Market estimates and forecast by aircraft, 2017 – 2027
8.3.6.5 Market estimates and forecast by application, 2017 – 2027
8.3.7 UK
8.3.7.1 Market estimates and forecast, 2017 - 2027
8.3.7.2 Market estimates and forecast by fiber, 2017 – 2027
8.3.7.3 Market estimates and forecast by resin, 2017 - 2027
8.3.7.4 Market estimates and forecast by aircraft, 2017 – 2027
8.3.7.5 Market estimates and forecast by application, 2017 - 2027
8.3.8 France
8.3.8.1 Market estimates and forecast, 2017 - 2027
8.3.8.2 Market estimates and forecast by fiber, 2017 – 2027
8.3.8.3 Market estimates and forecast by resin, 2017 - 2027
8.3.8.4 Market estimates and forecast by aircraft, 2017 – 2027
8.3.8.5 Market estimates and forecast by application, 2017 - 2027
8.3.9 Italy
8.3.9.1 Market estimates and forecast, 2017 - 2027
8.3.9.2 Market estimates and forecast by fiber, 2017 – 2027
8.3.9.3 Market estimates and forecast by resin, 2017 - 2027
8.3.9.4 Market estimates and forecast by aircraft, 2017 – 2027
8.3.9.5 Market estimates and forecast by application, 2017 – 2027
8.3.10 Spain
8.3.10.1 Market estimates and forecast, 2017 - 2027
8.3.10.2 Market estimates and forecast by fiber, 2017 – 2027
8.3.10.3 Market estimates and forecast by resin, 2017 - 2027
8.3.10.4 Market estimates and forecast by aircraft, 2017 – 2027
8.3.10.5 Market estimates and forecast by application, 2017 - 2027
8.3.11 Poland
8.3.11.1 Market estimates and forecast, 2017 - 2027
8.3.11.2 Market estimates and forecast by fiber, 2017 – 2027
8.3.11.3 Market estimates and forecast by resin, 2017 - 2027
8.3.11.4 Market estimates and forecast by aircraft, 2017 – 2027
8.3.11.5 Market estimates and forecast by application, 2017 – 2027
8.3.12 Russia
8.3.12.1 Market estimates and forecast, 2017 - 2027
8.3.12.2 Market estimates and forecast by fiber, 2017 – 2027
8.3.12.3 Market estimates and forecast by resin, 2017 - 2027
8.3.12.4 Market estimates and forecast by aircraft, 2017 – 2027
8.3.12.5 Market estimates and forecast by application, 2017 - 2027
8.3.13 Netherlands
8.3.13.1 Market estimates and forecast, 2017 - 2027
8.3.13.2 Market estimates and forecast by fiber, 2017 – 2027
8.3.13.3 Market estimates and forecast by resin, 2017 - 2027
8.3.13.4 Market estimates and forecast by aircraft, 2017 – 2027
8.3.13.5 Market estimates and forecast by application, 2017 - 2027
8.3.14 Sweden
8.3.14.1 Market estimates and forecast, 2017 - 2027
8.3.14.2 Market estimates and forecast by fiber, 2017 – 2027
8.3.14.3 Market estimates and forecast by resin, 2017 - 2027
8.3.14.4 Market estimates and forecast by aircraft, 2017 – 2027
8.3.14.5 Market estimates and forecast by application, 2017 - 2027
8.4 Asia Pacific
8.4.1 Market estimates and forecast, 2017 - 2027
8.4.2 Market estimates and forecast by fiber, 2017 – 2027
8.4.3 Market estimates and forecast by resin, 2017 - 2027
8.4.4 Market estimates and forecast by aircraft, 2017 – 2027
8.4.5 Market estimates and forecast by application, 2017 - 2027
8.4.6 China
8.4.6.1 Market estimates and forecast, 2017 - 2027
8.4.6.2 Market estimates and forecast by fiber, 2017 – 2027
8.4.6.3 Market estimates and forecast by resin, 2017 - 2027
8.4.6.4 Market estimates and forecast by aircraft, 2017 – 2027
8.4.6.5 Market estimates and forecast by application, 2017 - 2027
8.4.7 India
8.4.7.1 Market estimates and forecast, 2017 - 2027
8.4.7.2 Market estimates and forecast by fiber, 2017 – 2027
8.4.7.3 Market estimates and forecast by resin, 2017 - 2027
8.4.7.4 Market estimates and forecast by aircraft, 2017 – 2027
8.4.7.5 Market estimates and forecast by application, 2017 - 2027
8.4.8 &nbs