Aerospace Composites Market Revenue Drivers | Business Opportunities | Risks Assessment

Felton, Calif., USA, Nov. 25, 2020 — /EPR Network/ —

The global Aerospace Composites Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready, data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

The aerospace composites market is expected to witness market growth at a CAGR of above 4% over the forecast period from 2015 to 2020 on account of continuing market thrust in Asia Pacific regions and Latin America with budding low cost carriers. Strong demand is anticipated to prevail in North America and European Markets in commercial as well as defence sector. The Middle East airlines industry is growing with lifestyle shifts and business growth in the region coupled with introduction of low cost airlines has led to a boost in overall airlines market.

Prominent Players:

• Cytec Industries Inc.
• Hexcel Corporation
• I. Du Pont De Nemours
• Toray industries
• SGL Group
• Owens Corning

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Growth Drivers:

Key factors supporting the growth of aerospace composites are their applications in aircraft interiors such as ceiling panels, galleys, cabin linings, cargo floor panels, ceiling panels, overhead compartments, lavoratories, partitions, and bars. Aerospace composites are also used in exterior equipment such as landing gear, doors, winglets ,fins, and trailing edges.

With abundant availability and technological advancements of composites, it is now possible to manufacture light weight air craft components on a mass scale leading to improved fuel efficiency. Composites also provide added advantage of ease of design and production over their metal counterparts.

Aerospace composites are highly cost effective on account of parts integration, reduced manufacturing and assembly time and consequent labour expenses, making significant number of drag inducing fasteners redundant. Maintenance frequency is reduced as composites are corrosion free, better strength retention and improved power to mass ratio leading to reduced operating costs, improved operating efficiency and performance.

The market can be segmented according to product into fiber reinforced composites, carbon fiber reinforced composites, aramid composites ,ceramic matrix and metal matrix composites .Glass fiber enforced composites are expected to generate high demand owing to characters such as light weight, increased fuel efficiency, high corrosion resistance and short maintenance cycles.

Carbon fiber reinforced polymer (CFRP) structures are tougher than aluminium counterparts of the same length ensuring more passive safety and greater resistance to impact damage. Ceramic Matrix composites are used in manufacturing of engines as they can sustain high temperatures and are thus fire resistant and durable.

Application Outlook:

• Commercial Aircrafts
• Business and General Aviation
• Defence Aircrafts
• Helicopters
• Spacecrafts

Commercial aircrafts are expected to emerge as one of the key application domains. Growth in commercial aircrafts is presumed to be fuelled by military applications given the rising concern over security issues, which translates into increased spending on capacity building. Business and general aviation are expected to witness increased use of composites because of the increased demand for business jets, single aisle and twin aisle aircraft.

Regional Outlook:

Key regional markets include developed nations such as the U.S., Canada and European countries such as France, Germany and UK. Asia Pacific countries such as are China, India and Singapore are witnessing considerable demand, which can be attributed to the combination of the swift growth in composite processing and need for aircraft production at higher profitability.

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