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Opportunities for composites in the global aerospace market to reach $3.3 billion by 2025
According to a new market report published by
Lucintel, the future of the global aerospace composites material market looks promising
with opportunities in commercial aircraft, regional aircraft, general aviation,
helicopter, and military aircraft industries. The global aerospace composites materials market is expected to decline in 2020 due to
global economic recession led by COVID-19. However, market will witness
recovery in the year 2021 and it is expected to reach an estimated $3.3 billion
by 2025 with a CAGR of 2% to 3% from 2019 to 2025. The major drivers for this
market are growing demand for lightweight materials to increase fuel efficiency
and growth of aircraft with high composites penetration such B787 and A350WXB.
In this market, various fibers such as carbon
fiber, glass fiber, and aramid fiber are used to fabricate various aircraft
components. On the basis of our comprehensive research, Lucintel forecasts that
carbon fiber based composites will remain the largest segment during the
forecast period. Increasing penetration of carbon composites in commercial
aircraft, such as B787 and A350XWB is expected to drive the demand for this
segment over the forecast period from 2020 to 2025.
Within the aerospace composites market,
commercial aircraft will remain the largest market over the forecast period by
aircraft type followed by military aircraft.
By type of structure, primary structure will
remain the largest market by value and volume due to higher composite
consumption.
North America will remain the largest region
during the forecast period due to a higher demand for newer aircraft and the
ongoing replacement of an aging fleet.
An emerging trend, which has a direct impact
on the dynamics of the industry, includes the recycling of advanced composites.
Hexcel, Cytec Solvay Group, Toray, Gurit, and Teijin are among the major
suppliers of aerospace composites materials.
Lucintel, a leading global strategic
consulting and market research firm, has analyzed growth opportunities for
composites in the global aerospace market by aircraft type, reinforcement type,
manufacturing process, type of structure, component, and region. Lucintel has
compiled a comprehensive research report titled “Growth
Opportunities for Composites in the Global Aerospace Market 2020-2039: Trends,
Forecast and Opportunity Analysis”.
The Lucintel report serves as a catalyst for growth strategy, as it
provides comprehensive data and analysis on trends, key drivers, and
directions. The study includes a forecast of the growth opportunities for the
composites in the global aerospace market by aircraft type, reinforcement type,
manufacturing process, type of structure, component, and region as follows:
By Aircraft
Type [Volume (M lbs) and Value ($ Million) from 2014 to 2039]:
- Commercial Aircraft
- Military Aircraft
- Regional Aircraft
- General Aviation
- Helicopter
- Others
By Reinforcement
Type [Volume (M lbs) from 2014 to 2025]:
- Carbon Composites
- Glass Composites
- Aramid Composites
- Others
By Manufacturing
Process [Volume (M lbs) from 2014 to 2025]:
- AFP/ALT
- RTM
- Compression Molding
- Injection Molding
- Hand Layup
- Others
By Type
of Structure [Volume (M lbs) and Value ($ Million) from 2014 to 2025]:
- Primary Structure
- Interior
- Engine
- Others
By Component
[Volume (M lbs) from 2014 to 2025]:
- Wings
- Fuselage
- Empennage
- Engine
- Interior
- Radome
- Rotor Blade
- Landing Gear
- Others
By
Region [Volume (M lbs) and Value ($ Million) from 2014 to 2025]:
- North America
- Europe
- Asia Pacific
- ROW
This 311-page research report will
enable you to make confident business decisions in this globally competitive
marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or email us at helpdesk@lucintel.com. Lucintel offerings
include Aerospace
Report, Defense
Market Report, Opportunity
Screening and Analysis, Capital
Investment Feasibility and SWOT Analysis.
About Lucintel
Lucintel,
the premier global management consulting and market research firm, creates winning
strategies for growth. We offer market assessments, competitive analysis,
opportunity analysis, growth consulting, M&A, and due diligence services to
executives and key decision-makers in a variety of industries. For further
information, visit www.lucintel.com.
This
report answers the following 11 key questions:
Q. 1. How big are the opportunities for composites
in the global aerospace market by aircraft type (commercial aircraft, regional
aircraft, general aviation, helicopter, military aircraft, others), by
reinforcement type (carbon composites, glass composites, aramid composites, others)),
manufacturing process (hand lay-up, AFP/ATL, RTM, injection molding, compression
molding, others), type of structure (primary structure interior, engine, others),
component (wing, fuselage, empennage, engine, interior, rotor blade, radome,
landing gear, others), and region (North America, Europe, Asia Pacific, and the
Rest of the World)?
Q. 2. Which product segments will grow at a
faster pace and why?
Q. 3. Which region will grow at a faster pace
and why?
Q.4. What are the key factors affecting market
dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and
competitive threats in this market?
Q.6. What are the emerging trends in this
market and the reasons behind them?
Q.7. What are some of the changing demands of
customers in the market?
Q.8. What are the new developments in the
market and which companies are leading these developments?
Q.9. Who are the major players in this market?
What strategic initiatives are being taken by key companies for business
growth?
Q.10. What are some of the competing products
in this market and how big of a threat do they pose for loss of market share by
product substitution?
Q. 11. What M&A activity has occurred in
the last have years and what has its impact been on the industry?
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