The aerospace composites market is expected to grow from USD 24.2 billion in 2020 to USD 60.34 billion by 2028, at a CAGR of 12.1% during the forecast period 2021-2028.
The composites that are used in the aerospace industry for the manufacturing of commercial aircraft, helicopters, defense aircraft, and launchers and engines are known as aerospace composites. The various characteristics of aerospace composites include durability, lightweight, flexibility, fire-resistant, and various others. The composites used in the aerospace also helps in weight reduction and decrease in the consumption of fuel. They are versatile and used for structural applications and components in all space crafts and aircraft.
The factors driving the market are the development of fuel-efficient aircraft, growing air passengers, increasing investment in research and development for the innovation of cost-effective and lightweight composites, and rising concern for aircraft fuel efficiency. The factors restraining the market growth are lower production capacity utilization because of the COVID-19 pandemic, a decrease in the supply chain, and a reduction in the cost of carbon fiber.
This study delivers a comprehensive analysis of fiber, aircraft type, resin, application, and region. The fiber segment includes carbon/graphite, aramid, glass, ceramic, and others. The carbon/graphite fiber segment holds the largest market share of 29.64% in the year 2020, owing to the low weight, low thermal expansion, high tensile strength, good stiffness, and high chemical resistance. On the basis of aircraft type, the market is segmented into business and general aviation, military aircraft, commercial aircraft, and a civil helicopter. The commercial aircraft segment holds the largest market share of 34.7% in the year 2020 due to high demand from commercial aircraft manufacturers, reduced maintenance costs, high tensile strength, and lightweight property. The resin segment includes thermoplastic and thermosetting. The thermoplastic segment is further sub-segmented into polysulfones, polyether ether ketone, polyetherimide, and others. The thermosetting segment is further segmented into phenolic, polyimides, epoxy, phenolic, and others. The thermosetting segment held the largest share of 59.2% in the year 2020. This growth is attributed to the low viscosity, ease of impregnation, high mechanical strength, and low weight. The epoxy segment dominates the market from the thermosetting segment due to its chemical resistance, high strength, and durability. Based on application, the market is segmented into exterior and interior. The exterior segment holds the largest share of 64.6% in the year 2020, owing to the excellent strength-to-weight ratio, better resistance, and high stiffness.
The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America accounted for the largest share of 39.8% in the year 2020. This growth is ascertained to the lower travel rates, growing R&D investments, increased carbon fiber composites requirements, and the presence of key manufacturers in the market. Europe region is anticipated to witness significant growth, owing to the increasing demand from defence and aerospace companies. In the region, Germany, UK, and France have the major aircraft components manufacturers.
Some of the notable players in the market are Toray Industries, Inc., Kaneka Corporation, Hexcel Corporation, Mitsubishi Chemical Holdings, Argosy International, Spirit AeroSystems, Solvay, Teijin Limited, and SGL Group. In January 2019, Teijin Limited had an agreement with Boeing for the supply of unidirectional pre-impregnated tape. This agreement will help the company in its medium-term growth in the aircraft business.
Aerospace Composites Market Analysis and Forecast, Fiber
Aerospace Composites Market Analysis and Forecast, Aircraft Type
Aerospace Composites Market Analysis and Forecast, Resin
Aerospace Composites Market Analysis and Forecast, Application
Aerospace Composites Market Analysis and Forecast, Region
Report Description:
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Fiber
4.3.2. Market Attractiveness Analysis By Aircraft Type
4.3.3. Market Attractiveness Analysis By Resin
4.3.4. Market Attractiveness Analysis By Application
4.3.5. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Development of fuel efficient aircraft
5.2.2. Rising concern for aircraft fuel efficiency
5.3. Restraints
5.3.1. Lower production capacity utilization because of the COVID-19 pandemic
5.4. Opportunities
5.4.1. Technological advancements for aerospace composites
6. Global Aerospace Composites Market Analysis and Forecast, By Fiber
6.1. Segment Overview
6.2. Carbon/Graphite
6.3. Aramid
6.4. Glass
6.5. Ceramic
6.6. Others
7. Global Aerospace Composites Market Analysis and Forecast, By Aircraft Type
7.1. Segment Overview
7.2. Business and General Aviation
7.3. Military Aircraft
7.4. Commercial Aircraft
7.5. Civil Helicopter
8. Global Aerospace Composites Market Analysis and Forecast, By Resin
8.1. Segment Overview
8.2. Thermoplastic
8.2.1. Polysufones
8.2.2. Polyether Ether Ketone
8.2.3. Polyetherimide
8.2.4. Others
8.3. Thermosetting
8.3.1. Phenolic
8.3.2. Polyimides
8.3.3. Epoxy
8.3.4. Others
9. Global Aerospace Composites Market Analysis and Forecast, By Application
9.1. Segment Overview
9.2. Exterior
9.3. Interior
10. Global Aerospace Composites Market Analysis and Forecast, By Regional Analysis
10.1. Segment Overview
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.3. Europe
10.3.1. Germany
10.3.2. France
10.3.3. U.K.
10.3.4. Italy
10.3.5. Spain
10.4. Asia-Pacific
10.4.1. Japan
10.4.2. China
10.4.3. India
10.5. South America
10.5.1. Brazil
10.6. Middle East and Africa
10.6.1. UAE
10.6.2. South Africa
11. Global Aerospace Composites Market-Competitive Landscape
11.1. Overview
11.2. Market Share of Key Players in Global Aerospace Composites Market
11.2.1. Global Company Market Share
11.2.2. North America Company Market Share
11.2.3. Europe Company Market Share
11.2.4. APAC Company Market Share
11.3. Competitive Situations and Trends
11.3.1. Material Launches and Developments
11.3.2. Partnerships, Collaborations, and Agreements
11.3.3. Mergers & Acquisitions
11.3.4. Expansions
12. Company Profiles
12.1. Toray Industries Inc.
12.1.1. Business Overview
12.1.2. Company Snapshot
12.1.3. Company Market Share Analysis
12.1.4. Company Product Portfolio
12.1.5. Recent Developments
12.1.6. SWOT Analysis
12.2. Kaneka Corporation
12.2.1. Business Overview
12.2.2. Company Snapshot
12.2.3. Company Market Share Analysis
12.2.4. Company Product Portfolio
12.2.5. Recent Developments
12.2.6. SWOT Analysis
12.3. Hexcel Corporation
12.3.1. Business Overview
12.3.2. Company Snapshot
12.3.3. Company Market Share Analysis
12.3.4. Company Product Portfolio
12.3.5. Recent Developments
12.3.6. SWOT Analysis
12.4. Mitsubishi Chemical Holdings
12.4.1. Business Overview
12.4.2. Company Snapshot
12.4.3. Company Market Share Analysis
12.4.4. Company Product Portfolio
12.4.5. Recent Developments
12.4.6. SWOT Analysis
12.5. Argosy International
12.5.1. Business Overview
12.5.2. Company Snapshot
12.5.3. Company Market Share Analysis
12.5.4. Company Product Portfolio
12.5.5. Recent Developments
12.5.6. SWOT Analysis
12.6. Spirit AeroSystems
12.6.1. Business Overview
12.6.2. Company Snapshot
12.6.3. Company Market Share Analysis
12.6.4. Company Product Portfolio
12.6.5. Recent Developments
12.6.6. SWOT Analysis
12.7. Solvay
12.7.1. Business Overview
12.7.2. Company Snapshot
12.7.3. Company Market Share Analysis
12.7.4. Company Product Portfolio
12.7.5. Recent Developments
12.7.6. SWOT Analysis
12.8. Teijin Limited
12.8.1. Business Overview
12.8.2. Company Snapshot
12.8.3. Company Market Share Analysis
12.8.4. Company Product Portfolio
12.8.5. Recent Developments
12.8.6. SWOT Analysis
12.9. SGL Group
12.9.1. Business Overview
12.9.2. Company Snapshot
12.9.3. Company Market Share Analysis
12.9.4. Company Product Portfolio
12.9.5. Recent Developments
12.9.6. SWOT Analysis
List of Table
1. Global Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
2. Global Carbon/Graphite, Aerospace Composites Market, By Region, 2020-2028 (USD Billion)
3. Global Aramid, Aerospace Composites Market, By Region, 2020-2028 (USD Billion)
4. Global Glass, Aerospace Composites Market, By Region, 2020-2028 (USD Billion)
5. Global Ceramic, Aerospace Composites Market, By Region, 2020-2028 (USD Billion)
6. Global Others, Aerospace Composites Market, By Region, 2020-2028 (USD Billion)
7. Global Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
8. Global Business and General Aviation, Aerospace Composites Market, By Region, 2020-2028 (USD Billion)
9. Global Military Aircraft, Aerospace Composites Market, By Region, 2020-2028 (USD Billion)
10. Global Commercial Aircraft, Aerospace Composites Market, By Region, 2020-2028 (USD Billion)
11. Global Civil Helicopter, Aerospace Composites Market, By Region, 2020-2028 (USD Billion)
12. Global Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
13. Global Thermoplastic, Aerospace Composites Market, By Region, 2020-2028 (USD Billion)
14. Global Thermosetting, Aerospace Composites Market, By Region, 2020-2028 (USD Billion)
15. Global Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
16. Global Exterior, Aerospace Composites Market, By Region, 2020-2028 (USD Billion)
17. Global Interios, Aerospace Composites Market, By Region, 2020-2028 (USD Billion)
18. North America Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
19. North America Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
20. North America Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
21. North America Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
22. U.S. Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
23. U.S. Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
24. U.S. Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
25. U.S. Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
26. Canada Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
27. Canada Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
28. Canada Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
29. Canada Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
30. Mexico Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
31. Mexico Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
32. Mexico Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
33. Mexico Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
34. Europe Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
35. Europe Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
36. Europe Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
37. Europe Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
38. Germany Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
39. Germany Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
40. Germany Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
41. Germany Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
42. France Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
43. France Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
44. France Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
45. France Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
46. U.K. Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
47. U.K. Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
48. U.K. Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
49. U.K. Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
50. Italy Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
51. Italy Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
52. Italy Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
53. Italy Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
54. Spain Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
55. Spain Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
56. Spain Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
57. Spain Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
58. Asia Pacific Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
59. Asia Pacific Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
60. Asia Pacific Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
61. Asia Pacific Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
62. Japan Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
63. Japan Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
64. Japan Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
65. Japan Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
66. China Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
67. China Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
68. China Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
69. China Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
70. India Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
71. India Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
72. India Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
73. India Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
74. South America Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
75. South America Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
76. South America Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
77. South America Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
78. Brazil Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
79. Brazil Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
80. Brazil Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
81. Brazil Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
82. Middle East and Africa Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
83. Middle East and Africa Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
84. Middle East and Africa Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
85. Middle East and Africa Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
86. UAE Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
87. UAE Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
88. UAE Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
89. UAE Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
90. South Africa Aerospace Composites Market, By Fiber, 2020-2028 (USD Billion)
91. South Africa Aerospace Composites Market, By Aircraft Type, 2020-2028 (USD Billion)
92. South Africa Aerospace Composites Market, By Resin, 2020-2028 (USD Billion)
93. South Africa Aerospace Composites Market, By Application, 2020-2028 (USD Billion)
List of Figures
1. Global Aerospace Composites Market Segmentation
2. Global Aerospace Composites Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Aerospace Composites Market Attractiveness Analysis By Fiber
9. Global Aerospace Composites Market Attractiveness Analysis By Aircraft Type
10. Global Aerospace Composites Market Attractiveness Analysis By Resin
11. Global Aerospace Composites Market Attractiveness Analysis By Application
12. Global Aerospace Composites Market Attractiveness Analysis By Region
13. Global Aerospace Composites Market: Dynamics
14. Global Aerospace Composites Market Share by Fiber (2021 & 2028)
15. Global Aerospace Composites Market Share by Aircraft Type (2021 & 2028)
16. Global Aerospace Composites Market Share by Resin (2021 & 2028)
17. Global Aerospace Composites Market Share by Application (2021 & 2028)
18. Global Aerospace Composites Market Share by Regions (2021 & 2028)
19. Global Aerospace Composites Market Share by Company (2020)
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