Aerospace Composites Market Growth by Emerging Trends Analysis and Forecasts 2021-2026
The aerospace composites market research study is a detailed document that presents a gist of the global industry space in terms of numerous parameters. Some of these falls along the likes of the industry insights, growth drivers, industry segmentation, and trends worldwide. Also included in the research report is information pertaining to the companies partaking in the market share and the information pertaining to the regulatory norms that impact the commercialization landscape of this vertical.
The aerospace composites market is set to witness remarkable growth on account of increasing number of space exploration activities and rising defense expenditure. Lately, the defense and space sectors have observed increasing popularity, attracting numerous government fundings for initiating new projects. In 2018, the overall space economy was valued at almost USD 414 billion with over 60 space programs operating across the world.
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Aramid/Kevlar based aerospace composites are recording heavy demand as the material can endure high stress. The segment is projected to record a healthy CAGR of nearly 9% by 2026. These fibers generally have low weight properties and are high impact resistance. They are 40% lighter than glass fiber.
Business aircraft segment is likely to witness an exponential rise in demand in the forthcoming years. The U.S. has been at the forefront of the business aircraft segment, accounting for almost 70% of the global share. Rising use of aerospace composites to improve aircraft fuel efficiency while providing remarkable aerodynamic performance could enhance the outlook of business aircraft segment.
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On the geographical front, the Asia Pacific is considered as a lucrative market for aerospace composite companies. The region is estimated to account for almost one-fifth of the overall industry share over the forecast period.
APAC is likely to multiply its aircraft fleet in the upcoming decades as it is dominated by developing countries like China, India, and Japan. These countries are renowned for their proliferating commercial, space, and military aircraft industries.
Companies like ACT Aerospace, Owens Corning, Argosy International, Solvay, Cytec Industries, Hindustan Aeronautics, JPS Composite Materials, and LMI Aerospace are leading the aerospace composites market with their groundbreaking products and innovations.
Major Key Points from Table of Content:
Chapter 5. Aerospace Composites Market, By Resin
5.1. Global aerospace composites market product insights
5.2. Thermosetting
5.2.1. Global market estimates and forecasts, 2016 - 2026
5.2.2. Market estimates and forecast, by region, 2016 – 2026
5.2.3. Epoxy
5.2.4. Phenolics
5.2.5. Polyester
5.2.6. Polyimides
5.2.7. Others
5.3. Thermoplastic
5.3.1. Global market estimates and forecasts, 2016 - 2026
5.3.2. Market estimates and forecast, by region, 2016 – 2026
5.3.3. PEEK
5.3.4. PSU
5.3.5. PEI
5.3.6. Others
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