Global Aerospace Composites Market Insights

The Business Research Company’s Aerospace Composites Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

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Market Overview: Ascending from $26.25 Billion to $29.95 Billion in 2023
The global aerospace composites market experienced robust growth, advancing from $26.25 billion in 2022 to $29.95 billion in 2023, showcasing a remarkable Compound Annual Growth Rate (CAGR) of 14.1%. As the market evolves, it is poised for sustained expansion, projecting a market size of $51.83 billion by 2027, with a CAGR of 14.7%.

The global aerospace composites market is soaring to new heights, characterized by diverse fiber types, aircraft categories, manufacturing processes, resin varieties, and applications:
1. By Fiber Type:
• Carbon Fiber Composites
• Ceramic Fiber Composites
• Glass Fiber Composites
• Others
2. By Aircraft Type:
• Commercial Aircraft
• Business & General Aviation
• Civil Helicopter
• Military Aircraft
• Others
3. By Manufacturing Process:
• AFP/ATL
• Lay-Up Process
• Resin Transfer Moulding Process
• Filament Winding Process
• Others
4. By Resin Type:
• Benzoxazine
• Cyanate Ester
• Bismalimide
• Ceramic and Metal Matrix
• Thermosetting Resins
• Polyester
• Others
5. By Application:
• Interior
• Exterior

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Driving Force: Demand for High-Strength, Lightweight Materials The surge in demand for high-strength and lightweight composite materials is steering the aerospace composites market forward. The pursuit of energy efficiency and reduced fuel consumption is achieved through the use of lightweight materials, minimizing the aircraft’s mass. This, in turn, leads to enhanced flight performance, structural strength, and stiffness, contributing to reduced carbon footprints. According to the ‘2020 State of the Industry Report’ by Composites Manufacturing Magazine, the US composite end products market is anticipated to reach $33.4 billion by 2025, with glass fiber-based composites dominating the market.

Key Players Shaping the Horizon Major players shaping the aerospace composites market include Solvay, Toray Industries Inc., Mitsubishi Chemical Holdings, Hexcel Corporation, Teijin Limited, SGL Group, Spirit AeroSystems, Materion Corporation, Owens Corning, Spirit AeroSystems Inc., LEE Aerospace Inc., Gurit Holding AG, General Electric Corporation, Rolls-Royce Motor Cars Ltd., Kineco-Kaman Composites, and Nippon Graphite Fiber Corporation. These industry leaders contribute to market dynamics and foster innovation in composite material and process technologies.

Innovation Trends: Technological Advancements and Consortium Initiatives Companies in the aerospace composites market are steering their focus towards technological advancements to accelerate the development of next-generation aircraft and future mobility. Technologically advanced and modern aircraft, equipped with increased payload capacities and cost-efficiency, are replacing outdated models. For instance, GKN Aerospace, a UK-based company, launched the ASCEND consortium to advance lightweight structures, positioning the UK as a technology leader in future aerospace technologies. This initiative contributes to reducing carbon emissions and energy consumption in the aerospace industry.

Explore detailed insights into market trends, innovations, and growth opportunities with the complete report:
https://www.thebusinessresearchcompany.com/report/aerospace-composites-global-market-report

Regional Dynamics: North America Takes the Lead in 2022
In 2022, North America emerged as the largest region in the aerospace composites market. As the market evolves, Asia-Pacific is poised to be the fastest-growing region, offering significant opportunities for market players. The regions covered in the aerospace composites market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Aerospace Composites Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Aerospace Composites Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on aerospace composites market size, aerospace composites market drivers and trends, aerospace composites market major players, competitors’ revenues, market positioning, and market growth across geographies. The aerospace composites market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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