The global aeroengine composites market size reached US$ 2.8 Billion in 2023. Looking forward, the market is projected to reach US$ 7.8 Billion by 2032, exhibiting a growth rate (CAGR) of 12.06% during 2023-2032. The burgeoning aviation industry, rising air passenger traffic, and technological advancements in aircraft represent some of the key factors driving the market.
Aeroengine composites are less corrosive, lighter-weight, and less susceptible to fatigue failure as compared to traditionally used aluminum. They improve fuel efficiency and the ability to accommodate more cargo, which assists in lowering overall operational costs. They offer a high strength-to-weight ratio that decreases the weight of an aircraft while improving crash safety. They provide enhanced dimensional stability to maintain their shape in hot, cold, wet, or dry weather. At present, there is a rise in the demand for aeroengine composites as they offer high durability, improved chemical resistance, enhanced impact strength, and design flexibility.
Besides this, the growing demand for aeroengine composites due to high fuel efficiency, thrust, thermal stability, and performance is positively influencing the market. Moreover, key manufacturers are introducing narrowbody aircraft with 3D woven carbon fiber composite fan blades and fan cases. They are also focusing on utilizing ceramic matrix composites (CMC) to build the turbine shrouds of the engine. Apart from this, governing agencies of several countries are implementing stringent regulations to reduce greenhouse gas emissions and air pollution. They are also undertaking several measures to increase fuel economy, which is propelling the growth of the market.
Additionally, there is an increase in the demand for operational engines with higher fuel efficiency and lower operating expenses on account of the growing number of commercial flights across the globe. This, coupled with technological advancements in the aviation industry to enhance weather resistance and control responsiveness of the engine and airframe systems, is bolstering the growth of the market. Other growth-inducing factors are high defense expenditure, rising air passenger traffic, and the growing number of airports worldwide.
Aeroengine composites are less corrosive, lighter-weight, and less susceptible to fatigue failure as compared to traditionally used aluminum. They improve fuel efficiency and the ability to accommodate more cargo, which assists in lowering overall operational costs. They offer a high strength-to-weight ratio that decreases the weight of an aircraft while improving crash safety. They provide enhanced dimensional stability to maintain their shape in hot, cold, wet, or dry weather. At present, there is a rise in the demand for aeroengine composites as they offer high durability, improved chemical resistance, enhanced impact strength, and design flexibility.
Aeroengine Composites Market Trends
The increasing demand for aeroengine composites to manufacture advanced engines with high precision, production yields, and operational durability and repairability represents one of the key factors supporting the growth of the market. In addition, there is a rise in the demand for aeroengine composite engineering design and manufacturing solution that supports the end-to-end design of load-bearing composite components, assess in-service performance, and develop restoration processes. This, along with the thriving aviation industry across the globe, is strengthening the growth of the market.Besides this, the growing demand for aeroengine composites due to high fuel efficiency, thrust, thermal stability, and performance is positively influencing the market. Moreover, key manufacturers are introducing narrowbody aircraft with 3D woven carbon fiber composite fan blades and fan cases. They are also focusing on utilizing ceramic matrix composites (CMC) to build the turbine shrouds of the engine. Apart from this, governing agencies of several countries are implementing stringent regulations to reduce greenhouse gas emissions and air pollution. They are also undertaking several measures to increase fuel economy, which is propelling the growth of the market.
Additionally, there is an increase in the demand for operational engines with higher fuel efficiency and lower operating expenses on account of the growing number of commercial flights across the globe. This, coupled with technological advancements in the aviation industry to enhance weather resistance and control responsiveness of the engine and airframe systems, is bolstering the growth of the market. Other growth-inducing factors are high defense expenditure, rising air passenger traffic, and the growing number of airports worldwide.
Key Market Segmentation
This report provides an analysis of the key trends in each segment of the global aeroengine composites market, along with forecasts at the global, regional, and country level from 2024-2032. The report has categorized the market based on component, composite type, and application.Component Insights:
- Fan Blades
- Fan Case
- Guide Vanes
- Shrouds
- Others
Composite Type Insights:
- Polymer Matrix Composites
- Ceramic Matrix Composites
- Metal Matrix Composites
Application Insights:
- Commercial Aircraft
- Military Aircraft
- General Aviation Aircraft
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global aeroengine composites market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies include Albany International Corp., GKN Aerospace Services Limited, Hexcel Corporation, Meggitt Plc (Parker Hannifin Corporation), Rolls-Royce Plc, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
- How has the global aeroengine composites market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global aeroengine composites market?
- What is the impact of each driver, restraint, and opportunity on the global aeroengine composites market?
- What are the key regional markets?
- Which countries represent the most attractive aeroengine composites markets?
- What is the breakup of the market based on the component?
- Which is the most attractive component in the aeroengine composites market?
- What is the breakup of the market based on the composite type?
- Which is the most attractive composite type in the aeroengine composites market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the aeroengine composites market?
- What is the competitive structure of the global aeroengine composites market?
- Who are the key players/companies in the global aeroengine composites market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Aeroengine Composites Market
6 Market Breakup by Component
7 Market Breakup by Composite Type
8 Market Breakup by Application
9 Market Breakup by Region
10 Drivers, Restraints, and Opportunities
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Albany International Corp.
- GKN Aerospace Services Limited
- Hexcel Corporation
- Meggitt Plc (Parker Hannifin Corporation)
- Rolls-Royce Plc
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 2.8 Billion |
| Forecasted Market Value ( USD | $ 7.8 Billion |
| Compound Annual Growth Rate | 12.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
