Global Aerospace Composites Market Size from Exterior Applications To Expand US$ 3Bn By 2024

Aerospace composites market from exterior applications is expected to cross USD 3 billion over the next eight years. High usage of composites in exterior applications of aircraft structures will support the industry growth. Use of aerospace composites lead to weight reduction by 20% coupled with high damage tolerance and low production time. Interior applications are set to grow at over 8% CAGR till 2024 owing to assurance of high passenger comfort and increased fuel efficiency.

Complete digitization of the aerospace industry is one of the key innovations in aerospace composites market. This digitization includes high-tech enabled engines & equipment and real-time resource planning & allocation that notify the maintenance operation centers and staff during aircraft issues.

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Aerospace composites market share is slated to extensively proliferate in the commercial sector, given the extensive use of carbon fibers in these aircrafts. As per estimates, aerospace composites market share from commercial aircrafts generated revenue over USD 1.4 billion in 2016, and is further projected to dominate the industry landscape, holding 52% of the overall share in the coming seven years. The increasing demand for commercial aircrafts due to rise in passenger traffic travelling by air, especially across the Asia Pacific belt have carved a lucrative roadmap for the regional aerospace composite industry.

In addition, the robust urbanization & industrialization trends across the continent, along with increase in income levels of mass population have further led to considerable upsurge in the APAC aerospace composites market demand. Besides commercial projects, the regional government & private entities are also witnessed making huge investments in the defense and civil aerospace sector for upgradation. Backing with an instance, the military aviation sector of India is likely to capitalize USD 35 billion in the timespan of next twenty years, to refurbish the aircrafts with technical requirements, quality control, and safety features. This is set to generate huge demand for aerospace composites for renovating or manufacturing interior & exteriors of aircrafts. With India, China, and Japan at the forefront, Asia Pacific aerospace composites industry is expected to register an annual growth rate of 8.5% over 2017-2024.

North America aerospace composites market is expected to capture over 40% revenue share, surpassing USD 2 billion. Constant ageing of aircrafts along with high consumer spending will primarily drive the regional growth over the next eight years. Additionally, heavy investments in defense sector in established countries including U.S. will induce immense potential to the industry across the region. Asia Pacific will showcase highest CAGR over the coming years due to rising commercial aircrafts demand, especially in the developing countries such as China.

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Boeing, Airbus, Lee Aerospace, Hindustan Aeronautics, E. I. du Pont de Nemours, and BASF are among the prominent players in the aerospace composites market. Other notable participants include Gurit Holding AG, ACT Aerospace, Teijin Ltd., Cytec Industries, Axioms Materials, and Hexcel.

Glimpse of Table of Content (ToC)

Chapter 3.   Aerospace Composites Market Industry Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2013 – 2024

3.3.  Industry ecosystem analysis

3.3.1. Raw material suppliers

3.3.2. Manufacturers

3.3.3. Distribution channel analysis

3.3.4. Vendor matrix

3.4. Technology landscape

3.4.1. Nano-modified aerospace composites

3.4.2. Composite wing spars

3.4.3. Automated Composite Manufacturing Pilot Plant

3.4.4. Thermoplastics at The Forefront of Composite Technology

3.4.5. Composite Engine Components Driving Efficiency in Aviation

3.5. Raw material analysis

3.5.1. Carbon

3.5.2. Glass

3.5.3. Ceramic

3.5.3.1.    Electrical Applications

3.5.3.2.    Structural Applications

3.5.3.3.    Turbine Applications

3.5.4. Aramid

3.6. Benefits of aerospace composites

3.6.1. Provide Strength to weight ratio

3.6.2. Increases durability

3.6.3. Ability to create complex designs

3.6.4. Increases thermal conductivity

3.7. Future of composites in aerospace

3.7.1. Materials development

3.7.2. Carbon fiber availability

3.7.3. Recycling

3.8. Regulatory landscape

3.8.1. North America

3.8.2. Europe

3.8.3. Asia Pacific

3.8.4. Latin America

3.8.5. MEA

3.9. Industry best practices & key buying criteria

3.10.   Pricing analysis

3.10.1.  Regional pricing

3.10.2.  North America

3.10.3.  Europe

3.10.4.  Asia Pacific

3.10.5.  Latin America

3.10.6.  MEA

3.10.7.  Cost structure analysis, 2016

3.11.   Industry impact forces

3.11.1.  Growth drivers

3.11.2.  Industry pitfalls & challenges

3.12.   Innovation & sustainability

3.13.   Growth potential analysis

3.14.   Porter’s analysis

3.14.1.  Supplier power

3.14.2.  Buyer power

3.14.3.  Threat of new entrants

3.14.4.  Threat of substitutes

3.14.5.  Internal rivalry

3.15.    Competitive landscape, 2016

3.15.1.     Strategic dashboard

3.16.   PESTEL analysis

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