Global Aerospace Composites Market

$3,500.00

A composite material is any substance that has two or more constituent materials. These fundamental components come together to create a substance that differs from its source material in some ways. Thus, it is noticed that the physical and chemical properties of composites differ significantly from the materials originally utilized to construct them.

Description

Frequently Asked Questions of Aerospace Composites Market

  • Why composite materials are used in the aerospace industry?
    Composites are used because of their strength and lightweight property
  • How big is the composite industry?
    In 2023 composites market is expected to be worth $16.63 billion
  • What is the expected market growth of the composites market in the aerospace industry?
    The market is expected to grow at a CAGR of 4.86 percent from 2022-2032
  • Why is the North America aerospace composites market growing?
    The market is growing because of the increasing demand for composites in aerospace and defense applications.
  • What are the factors influencing the growth of the aerospace composites market?
    Some of the factors include increasing demand and an increasing range of applications
  • Any substance created from two or more constituent materials is referred to as a composite material. These constitutional elements are combined to produce a material with characteristics that are distinct from the material of origin. The physical, as well as chemical properties of composites, are hence noted to be vastly different from the materials that are originally used to construe the same.

    Composites are noted to find extensive applications across the aerospace and defense supply chain as well as the value chain. This is predominantly due to their high strength and stiffness-to-density ratios, as well as their exceptional physical qualities, composite materials are particularly appealing for use in aviation and aerospace applications.

    In a tough resin matrix, a combination of stiff and strong fibers makes up a composite material. As mentioned, the density to stiffness ratio varies with the application of choice.  Carbon- and glass-fiber reinforced plastic (CFRP and GFRP, respectively), are more well-known artificial composite materials used in aerospace and other industries. They are known to be predominantly composed of carbon and glass fibers and a polymer matrix. The properties of these materials form a perfect amalgamation of stiffness to density ratio thus increasing the malleability and ductility of these materials. The use of composites is hereby poised to reduce the number of aircraft components required owing to the increased flexibility offered by the material hence reducing both the assembly time as well as the propensity for human error.

    Major factors driving the growth of the market

    One of the main drivers of this market is the growing trend toward green technology and the adoption of practices to minimize carbon footprint. The production of lightweight components will consequently optimize fuel consumption and the emissions thereby produced, hence enabling the aerospace industry to successfully implement green initiatives. The use of composites is crucial for creating sturdy yet lightweight components, addressing problems like reducing an aircraft’s fuel consumption by reducing its overall weight and minimizing carbon dioxide emissions which are two of the main challenges encountered by the airline sector.

    The increased proliferation of technologies like 3D printing is another factor that is poised to drive the growth associated with the aerospace composites market. The use of this technology is anticipated to reduce human error and hereby automate the process associated with the production of components.

    Trends influencing the growth of the market

    As mentioned, composites can be shaped into complex structures as opposed to their metallic counterparts. This decreases the number of parts that make up a particular component as well as the requirement for fasteners and joints, which has the dual benefits of reducing the number of these parts while also decreasing the number of fasteners and joints, which can reduce assembly time. A rivet requires a hole, which is a stress concentration and potential crack-initiation site. Contrarily, the shorter assembly time can be offset by the time needed to make the component.

    Market Dynamics

    The International Civil Aviation Organization (ICAO) projects that both passenger and freight traffic should quadruple by 2035. An increase in middle-class disposable income and the emergence of low-cost airlines are two factors that have contributed to an increase in airline passengers. The demand for in-flight entertainment and connectivity services has grown significantly along with the increase in airline passengers. The number of passengers flying has increased in major nations like Canada, the United States, Brazil, Indonesia, the Philippines, China, Saudi Arabia, and India. When people seek to escape the monotonous routine that has emerged as the “new normal” in the wake of the coronavirus epidemic, this behavior is referred to as revenge travel or tourism. It also results from a condition known as “lockdown fatigue,” or exhaustion that worsens as a result of monotony. These factors significantly increase the demand for composites in aerospace market.

    Recent Developments

    Composites are also widely used across the aerospace domain as per the marketers. For instance, the lightweight of this material makes it particularly conducive to applications within the aerospace domain. The material has been extensively used in the design of cryogenic tanks which are identified as cost-effective alternatives for sending payloads into orbit.  Cryogenic tanks were previously made of metals or composite materials with metal linings. However, a 5.5m-diameter CFRP cryogenic tank has been developed by NASA and Boeing. It is among the biggest, lightest, and first, all-composite cryogenic tanks ever created.

    This innovation was a step toward creating an 8.4m-diameter tank, which was intended to optimize the weight of rocket tanks and save launch costs by 25%. The 8.4m-diameter tank was to be built using the out-of-autoclave method.

    Table of Contents

    Market Definition

     

    Market Segmentation of Aerospace Composites Market

    – By Region

    – By Aircraft Type

    – By Aircraft Size

     

    10 Year Market Outlook of Aerospace Composites Market

    The 10-year market outlook would give a detailed overview of changing dynamics, technology adoption overviews and the overall market attractiveness is covered in this chapter.

     

    Market Technologies of Aerospace Composites Market

    This segment covers the top 10 technologies that is expected to impact this market and the possible implications these technologies would have on the overall market.

     

    Global Market Forecast of Aerospace Composites Market

    The 10-year market forecast of this market is covered in detailed across the segments which are mentioned above.

     

    Regional Market Trends & Forecast of Aerospace Composites Market

    The regional market trends, drivers, restraints and Challenges of this market, the Political, Economic, Social and Technology aspects are covered in this segment. The market forecast and scenario analysis across regions are also covered in detailed in this segment. The last part of the regional analysis includes profiling of the key companies, supplier landscape and company benchmarking.

     

    North America

    – Drivers, Restraints and Challenges

    – PEST

    – Market Forecast & Scenario Analysis

    – Key Companies

    – Supplier Tier Landscape

    – Company Benchmarking

    Europe

    Middle East

    APAC

    South America

     

    Country Analysis of Aerospace Composites Market

    This chapter deals with the key defense programs in this market, it also covers the latest news and patents which have been filed in this market. Country level 10 year market forecast and scenario analysis are also covered in this chapter.

     

    US

    – Defense Programs

    – Latest News

    – Patents

    – Current levels of technology maturation in this market

    – Market Forecast & Scenario Analysis

    Canada

    Italy

    France

    Germany

    Netherlands

    Belgium

    Spain

    Sweden

    Greece

    Australia

    South Africa

    India

    China

    Russia

    South Korea

    Japan

    Malaysia

    Singapore

    Brazil

     

    Opportunity Matrix of Aerospace Composites Market

    The opportunity matrix helps the readers understand the high opportunity segments in this market.

     

    Expert Opinions of Aerospace Composites Market

    Hear from our experts their opinion of the possible outlook for this market.

     

    Conclusions

    About Aviation and Defense Market Reports

    Countries Covered in Aerospace Composites Market Report

    US

    Canada

    Italy

    France

    Germany

    Netherlands

    Belgium

    Spain

    Sweden

    Greece

    Australia

    South Africa

    India

    China

    Russia

    South Korea

    Japan

    Malaysia

    Singapore

    Brazil

    Regions Covered in Aerospace Composites Market Report

    North America

    South America

    Europe

    Middle East

    Asia

    Segments Covered in Aerospace Composites Market Report

    By Region

    By Aircraft Type

    By Aircraft Size