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Global Aerospace Composite Market - Forecasts from 2020 to 2025

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  • September 2020
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 5174322

The global aerospace composite market was valued at US$2.814 billion in 2019 and is expected to grow at a CAGR of 10.87% over the forecast period to reach a total market size of US$5.228 billion in 2025. Composite materials have been gaining popularity across all key industrial sectors since their introduction to the market. The popularity these materials have gained so far, is majorly attributed to significant cost and performance benefits offered by them over the conventional materials used for respective applications. While the aerospace sector is known to run on a foundation of very stringent regulations set by regulators in order to mitigate any risk of mishap during operations, the adoption of these composites across this sector had, for long, remained slow. This was not the only reason which had been keeping these materials from penetrating this sector, as extreme conditions, the aircrafts operate in, make it necessary for manufacturers to choose materials which fit perfectly in all aspects pre-set by regulatory bodies. Over the past few decades, use of composites in aerospace sector was confined to non-safety critical applications since materials were not proven fit for use in security-critical applications.

However, over the past couple of years, composites have started penetrating applications which are critical, not only to aircraft performance, but also to safety. These applications include manufacturing of primary aircraft structures which include fuselage (or parts thereof) and wings along with many other components. Now struggling aerospace industry presents significant growth opportunities to the composite manufacturers across the globe and continues to promote development of materials and technologies by them. As composites are becoming more advanced and capable of coping with extreme environmental conditions, their applications are being tested across the entire sector. On a global level, the aerospace sector has been witnessing a drift from conventional use of metals for manufacturing parts and components to composites. This shift is being catalysed by increasing need among industry players to develop more efficient aircrafts. Since this can be achieved through the use of lighter and more efficient materials and products, which also align perfectly with laws and attitudes of global policy makers towards the impact of aerospace sector on the environment. Continuous improvements in designs made using composite materials, their ease of getting certification, and improving manufacturing efficiency are all fuels to driving the market growth. Not just this, ongoing improvements in engineering services, coupled with improvements in cost and efficiency of manufacturing systems can also be seen as keys to unlock capabilities which allow realising the growth opportunities which lie ahead of market players and aid composite manufacturers in thriving in this industry.

The aerospace composite market growth is majorly being fuelled by increasing flow of investments by aircraft and component manufacturers into research and development. Since improving efficiency continues to remain on top of their list of growth strategies, and switch to composites opens doors to immense growth opportunities in the long run, many companies, which seek to gain early mover advantage, are rigorously pumping investments into research and development. For instance, Rolls Royce, which is one of the major players in the aerospace ecosystem, is working on a good number of programmes in partnership with other companies in order to develop more advanced and efficient engine fan blades, and more robust engineering technology for containment casing along with making improvements to manufacturing technologies for demonstration of engines. For engine fans, the synergy of carbon and titanium is being tested for fan blades, and these will be critical for unlocking advanced engine design capabilities. With the use of new engine fan blades, reduction of around 20% in fuel consumption and carbon dioxide emission, as compared to those in first-generation aero engine designs, can be achieved.

With these composite-based engine fan blades and more efficient engine casings, which constitute the company’s next-generation CTI fan system, the company seeks to bring down the weight of the aircraft by around 1,500lbs. Interestingly, this weight is somewhat equivalent to the weight of seven average-sized passengers, which means the airliners can generate more revenue and profits per flight. In order to achieve this planned output, the company worked in partnership with the National Composites Centre (NCC) and the Manufacturing Technology Centre (MTC). The synergy also gave rise to an automated approach for manufacturing this advanced fan system based on composite materials. As these programs showed promising results, Rolls Royce has been investing rigorously into its new pre-production plant based in Bristol. Not only are composite solution manufacturers pumping investments into research and development, but also composite material providers are funnelling huge investments into research and development. For instance, Hexcel Corporation is making huge investments into expansion of its plant in Leicester. The company has invested in a next-generation machine for the development of carbon non-crimp fabrics along with making huge investments in advanced lab equipment for accelerating research and development. The company is working on a four-year Multi Axial Infused Materials (MAXIM) project with total funding of £7.4 million from the Industrial Strategy Challenge Fund (ISCF) as part of the ATI programme. This project is aimed at developing cost-effective and progressive materials and solutions which can align perfectly with the needs of large aerospace composite structures. Hexcel Corporation is working in close collaboration with the National Composites Centre in order to take advantage of their expertise in part processing and material handling. With this investment, Hexcel seeks to move ahead in this sector with key technologies that have the potential to offer a leading position in the efficient manufacturing of composite parts for customers in the aerospace landscape. Not just this, the project is also expected to support the research and development in the field of new and advanced materials that can be adopted by the aerospace industry while aligning perfectly with the expected high build rate requirements of projects.

Geographically, the global aerospace composite market has been segmented into North America, South America, Europe, Middle East and Africa, and Asia Pacific. To give a clearer view, these regional markets have been further segmented into countries which account for a significant share in the market. North America and Europe, which hold the position of early adopters of new technologies across the globe, account for a major chunk in the overall market. Market growth in these two geographies is majorly being driven by the presence of state-of-the-art research infrastructure across them, which has been proving favourable for the growth of many advanced and new technologies. Since infrastructure available in countries across these regions is supportive, market players and aircraft part makers have been showing a high degree of inclination towards advanced aerospace composite materials. Furthermore, very strict laws in these regions regarding environmental protection, and very effective enforcement of all such laws by concerned agencies have all been contributing in driving aircraft manufacturers to adopt more sustainable materials and create more sustainable solutions for future.

This, coupled with presence of major aircraft manufacturers like Boeing and Airbus in these regions, is driving the market growth significantly. Although there are some challenges associated with the use of composites in this sector, on account of this being a fairly novel approach, these regions continue to dominate the global aerospace composite market. Asia Pacific can be seen as one of the most lucrative geographies for pouring investments since it holds a lot of potential for growth in this market, and companies can expect to get fairly high returns on the investments they funnel in. China, Japan and Singapore and other countries can be seen as promising markets for companies operating in this market. These countries have the availability of resources required to drive the market growth. Japan, being one of the most technologically advanced countries in the world, can be expected to show a good growth in this market over the projected period. This country is known for its robust chemical sector, which has been witnessing a continuous flow of investments by entities seeking to capitalize on the underlying growth potential. As many market players see this as a lucrative region, they are channelling investments into it, thus driving the regional market growth. Other regions like the Middle East and Africa, and South America, also offer some significant growth opportunities to market players. Saudi Arabia is one of the key aircraft part manufacturing countries in the world. Aerospace industry in this country has been showing a robust growth till now, and we expect this strong position of the country in this sector to contribute to the global aerospace composite market growth. However, these regions account for a relatively small share in the global market.

Competitive Insights

Prominent key market players in the global aerospace composite market include TEIJIN LIMITED, Rolls-Royce plc, Boston Materials, Inc., and Composites UK among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the portfolio management system market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.


By Aircraft Type

  • Wide-body
  • Single-Aisle
  • Regional Jets

By Application

  • Aerostructure
  • Nycelle & Pylon
  • Engine
  • Landing Gear

By Geography

  • North America
  • USA
  • Canada
  • Mexico
  • South America
  • Brazil
  • Argentina
  • Others
  • Europe
  • Germany
  • France
  • UK
  • Others
  • Middle East and Africa
  • Saudi Arabia
  • UAE
  • Others
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Others

Table of Contents

1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porters Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Competitive Rivalry in the Industry
4.5. Industry Value Chain Analysis
4.6. Market Attractiveness
5. Global Aerospace Composite Market Analysis, By Aircraft Type
5.1. Introduction
5.2. Wide-body
5.3. Single-Aisle
5.4. Regional Jets
6. Global Aerospace Composite Market Analysis, By Application
6.1. Introduction
6.2. Aerostructure
6.3. Nycelle & Pylon
6.4. Engine
6.5. Landing Gear
7. Global Aerospace Composite Market Analysis, By Geography
7.1. Introduction
7.2. North America
7.2.1. North America Aerospace Composite Market, By Aircraft Type, 2019 to 2025
7.2.2. North America Aerospace Composite Market, By Application, 2019 to 2025
7.2.3. By Country USA Canada Mexico
7.3. South America
7.3.1. South America Aerospace Composite Market, By Aircraft Type, 2019 to 2025
7.3.2. South America Aerospace Composite Market, By Application, 2019 to 2025
7.3.3. By Country Brazil Argentina Others
7.4. Europe
7.4.1. Europe Aerospace Composite Market, By Aircraft Type, 2019 to 2025
7.4.2. Europe Aerospace Composite Market, By Application, 2019 to 2025
7.4.3. By Country Germany France UK Others
7.5. Middle East and Africa
7.5.1. Middle East and Africa Aerospace Composite Market, By Aircraft Type, 2019 to 2025
7.5.2. Middle East and Africa Aerospace Composite Market, By Application, 2019 to 2025
7.5.3. By Country Saudi Arabia UAE Others
7.6. Asia Pacific
7.6.1. Asia Pacific Aerospace Composite Market, By Aircraft Type, 2019 to 2025
7.6.2. Asia Pacific Aerospace Composite Market, By Application, 2019 to 2025
7.6.3. By Country China India Japan South Korea Others
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.2. Rolls-Royce plc
9.3. Boston Materials, Inc.
9.4. Composites UK
9.5. DuPont de Nemours, Inc.
9.6. Hexcel Corporation
9.7. Toray Advanced Composites
9.8. Solvay
9.9. SGL Carbon

Companies Mentioned

  • Rolls-Royce plc
  • Boston Materials, Inc.
  • Composites UK
  • DuPont de Nemours, Inc.
  • Hexcel Corporation
  • Toray Advanced Composites
  • Solvay
  • SGL Carbon



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