A wide range of composites are used in aerospace Industry. Commercial aircrafts, defense aircrafts, helicopters, launchers and engines are made-up of composites. Aerospace composites help to lighten the weight of the components and increase the efficiency of the engines. Aerospace composites help in weight reduction subsequently decreasing the fuel consumption. Low weight and durability of components are of huge importance in aerospace and aircraft Industry. The Industry for aerospace composites is classified as: carbon fiber reinforced composites, glass fiber reinforced composites, metal matrix composites, foam core materials and ceramic matrix composites among others. Aerospace composites are used in interiors as well as exterior of the aircrafts. In addition, to this ceramic matrix composites are used in manufacturing of engines, which sustains at higher temperatures. Moreover, aerospace composites provides various characteristics to the components such as fire resistance, durability, flexibility and lighter weight among others.
Aerospace composites Industry is expected to grow on account of high demand from commercial & military aircraft, helicopters, business jet, general aviation and spacecraft manufacturing. Increasing demand for lightweight and efficient airplanes is expected to provide immense opportunities for the composite parts, material and frame manufacturers over the forecast period. Continuous technological advancement in terms of component and structural applications in airplanes is expected to result in high aerospace composites demand. With growing demand for aircraft coupled with existing high order backlogs has resulted in increased need for improved production rates which is expected to be a key reason for aerospace composites penetrating the Industry. Establishment of Nation Composites Center is in line with UK government long term strategy, the NCC has expertise in design and manufacture of composites.
The aerospace composites Industry is projected to grow from an estimated USD 29.53 Billion in 2018 to USD 57.02 Billion by 2025, at a CAGR of 9.9% between 2018 and 2025. The growth of the aerospace composites Industry can be attributed to increased use of aerospace composites commercial and military aircraft, as these offer a high strength-to-weight ratio and increased heat resistance. Moreover, these are lightweight, which increases the fuel efficiency of the aircraft and provides structural stability.
Aerospace Composites Industry Share by 2018 -2025 (USD Million)
The aerospace composites Industry has been segmented based on fiber type, resin type, aircraft type, manufacturing process, application, and region.
Among manufacturing processes, the AFP/ATL manufacturing process segment led the aerospace composites Industry in 2016, in terms of both value as well as volume. The growth of this segment is attributed to the ease of manufacturing complex structures which is not possible in any other manufacturing process.
North America is the largest consumer of aerospace composites across the globe, in terms of both value and volume. The growth of the North America aerospace composites Industry is driven by the increasing consumption of aerospace composites in exterior and interior parts in commercial and military aircraft. The US is the largest consumer of aerospace composites globally, in terms of value and volume and is expected to strengthen its position further during the forecast period. The growth of the US aerospace composites Industry is attributed to the presence of giant players such as Boeing and GE along with the establishment of several new carbon fiber production plants in the country.
Among fiber types, the carbon fiber composites segment is projected to lead the aerospace composites Industry, in terms of both value and volume during the forecast period, as carbon fiber composites are lightweight and strong and are therefore used in a wide range of applications in various industries.
Among resin types, the aerospace thermoplastic resin composites segment accounted for the largest share of the aerospace composites Industry in terms of value as well as volume in 2016. The large share of this segment can be attributed to increased use of these resins in interiors of aircraft parts. These do not expand under high-heat and moist conditions and are also recyclable, making them suitable for highly corrosive and high-temperature applications.
Major market players in Aerospace Composites industry are SGL Group (Germany), Solvay Group (Belgium), Hexcel Corporation, Gurit Holding Co., Cytec Industries, Royal Tencate, Toray Industries Inc. and GKN Plc among others.
Aerospace Composites Industry Segmentation:
Aerospace Composites Industry, By Fiber Type:
Aerospace Composites Industry, By Resin Type:
Aerospace Composites Industry, By Manufacturing Process:
Aerospace Composites Industry, By Aircraft Type:
Aerospace Composites Industry, By Application:
Aerospace Composites Industry Overview, By Region
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa