According to
a new market report published by Lucintel, the future of the global aerospace
composite materials market looks attractive with opportunities in commercial
aircraft, regional aircraft, general aviation, helicopter, and military
aircraft markets. The global aerospace composite materials market is expected
to reach an estimated $3.8 billion by 2024 with a CAGR of 4.5% from 2019 to 2024.
The global aerospace composites end product market is expected to reach an
estimated $17.2 billion by 2024. Major drivers for this market are the growing
demand for lightweight materials to increase fuel efficiency and growth of
aircraft with high composites penetration such B787, A350WXB, and A380.
In this
market, 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 is expected to witness
the highest growth 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 2019 to 2024.
Within
aerospace composite market, commercial aircraft will remain the largest market
by value and volume consumption 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, by reinforcement type,
manufacturing process, type of structure, by component, and region, and has
compiled a comprehensive research report entitled “Growth
Opportunities for Composites in the Global Aerospace Market 2019-2038: Trends,
Forecast and Opportunity Analysis.” The Lucintel report serves as a
catalyst for growth strategies as it provides a comprehensive data and analysis
on trend, 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 2013 to 2038]:
- Commercial Aircraft
- Military Aircraft
- Regional Aircraft
- General Aviation
- Helicopter
- Others
By
Reinforcement Type [Volume (M lbs) from 2013 to 2024]:
- Carbon Composites
- Glass Composites
- Aramid Composites
- Others
By
Manufacturing Process [Volume (M lbs) from 2013 to 2024]:
- AFP/ALT
- RTM
- Compression Molding
- Injection Molding
- Hand Layup
- Others
By
Type of Structure [Volume (M lbs) and Value ($ Million) from 2013 to 2024]:
- Primary Structure
- Interior
- Engine
- Others
By
Component [Volume (M lbs) from 2013 to 2024]:
- Wings
- Fuselage
- Empennage
- Engine
- Interior
- Radome
- Rotor Blade
- Landing Gear
- Others
By
Region [Volume (M lbs) and Value ($ Million) from 2013 to 2024]:
- North America
- Europe
- Asia Pacific
- ROW
This
304-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 helpdesk@lucintel.com. Lucintel
offerings include aerospace
report, defense
market report, strategic
growth consulting, market research due
diligence and business
strategy consulting.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers 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 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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