Aerospace Composites Global Market Report 2022

Aerospace Composites Global Market Report 2022 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global aerospace composites market.

This report focuses on aerospace composites market which is experiencing strong growth. The report gives a guide to the aerospace composites market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.

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Where is the largest and fastest growing market for the aerospace composites? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Aerospace Composites market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider aerospace composites market, and compares it with other markets.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
• Market segmentations break down market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
• The aerospace composites market section of the report gives context. It compares the aerospace composites market with other segments of the aerospace composites market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, aerospace composites indicators comparison.

Scope

Markets Covered: 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

Companies Mentioned: Solvay; Toray Industries Inc.; Mitsubishi Chemical Holdings; Hexcel Corporation; Teijin Limited

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Executive Summary

Major players in the aerospace composites market are 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.

The global aerospace compsites market is expected to grow from $23.03 billion in 2021 to $25.79 billion in 2022 at a compound annual growth rate (CAGR) of 11.98%. The market is expected to grow to $43.33 billion in 2026 at a CAGR of 13.84%.

The aerospace composites market consists of sales of aerospace composites by entities (organizations, sole traders, and partnerships) which are used to enhance the performance of commercial and military aircraft. Aerospace composites have superior physical properties and exceptional strength and stiffness-to-density ratios. Composites can be manufactured in different shapes which reduce corrosion resistance and material wastage.

The main types of aerospace composites include carbon fiber composites, ceramic fiber composites, glass fiber composites, and others. Carbon composites are a broad class of materials in which carbon structures are spread throughout a material. They offer strength and stiffness while keeping them relatively lightweight. Ceramic composites offer excellent temperature stability, damage-tolerant fracture behavior, low density, good corrosion, high hardness and wear resistance. Glass fiber composites offer flexibility, high strength stiffness, and durability. Aerospace composites are mainly used in commercial aircraft, business and general aviation, civil helicopter, military aircraft, and others. Two major types of applications of aerospace composites are interior and exterior. Aerospace composites are manufactured through AFP/ATL, lay-up process, resin transfer moulding process, filament winding process, and other processes. Resins used for aerospace composites include benzoxazine, cyanate ester, bismalimide, ceramic and metal matrix, thermosetting resins, polyester, and others.

North America was the largest region in the aerospace composites market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing demand for high strength and lightweight composite materials is expected to drive the aerospace composites market. Energy efficiency can be increased and fuel consumption can be reduced by using lightweight materials and thereby reducing the mass of aircraft, as a lower mass requires less lift force and thrust during flight. Lightweight design helps in reducing the carbon footprint, higher structural strength and stiffness, flight performance improvements such as better acceleration, and better safety performance. For instance, according to Tech Briefs, in 2019, when Boeing 787 used 20% weight savings, it was able to achieve a considerable 10 to 12% improvement in fuel efficiency. The extensive use of lightweight materials is helpful and can be used for increasing energy efficiency. Therefore, increasing use of lightweight materials positively impacts the aerospace composites market growth.

Companies in the aerospace composites market are focusing on technological advancement to accelerate and develop composite material and process technologies for the next generation of energy efficient aircraft and future mobility. Airlines are trying to replace outdated aircraft with technologically advanced and modern airplanes. These new aircrafts are equipped with increased payload capacities and cost-efficiency. As a result of this, there is widespread adoption of aerospace composites across the globe. For example, in March 2021, GKN Aerospace, a UK-based company involved in automotive and aerospace components business, launched a consortium called ASCEND (aerospace and automotive supply chain enabled development). With this launch, the UK has become a technology leader in future lightweight structures. It also helps to reduce carbon emissions and energy consumption in the aerospace industry.

In September 2020, private investment firm Architect Equity acquired the Aerospace Composites Division of AAR Corp., a company engaged in providing aerospace and defense aftermarket solutions, for an undisclosed amount. Through this acquisition, Architect is expected to design and manufacture complex aerospace products with AAR Corp, and pursue new opportunities in the composites manufacturing space. The aerospace composites division will do business as Aeromatrix Composites. Aeromatrix is a US-based company that designs, fabricates, and assembles composite products and solutions for customers in the commercial aerospace and defense industries.

The countries covered in the Aerospace Composites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.