Industry Background:
Aerospace composites are made up of carbon and glass fiber. They have exceptional strength and stiffness to density ratio and are widely used in aerospace and others industries. of late, there has been great emphasis on making the aircraft fuel efficient which requires aircraft to be light in weight, which in turn has led to wide adoption of composites materials in aerospace. Boeing 787, a recently designed aircraft has over 50% composites by weight.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Solvay Group (Belgium), Hexcel Corp. (United States), Royal Tencate N.V (Netherlands), Teijin Limited (Japan), Toray Industries (Japan), SGL Group (Germany), Owens Corning (United States), Materion Corporation (United States), Mitsubishi Rayon Co. Ltd. (Japan), Renegade Materials Corporation (United States), Gurit (Switzerland), General Electric (United States) and Rolls Royce (United Kingdom) |
This growth is primarily driven by Rise in Number of Aircraft Deliveries and Focus on Developing Fuel Efficient Aircraft.
Globally, a noticeable market trend is evident Focus on Getting Maximum Weight-Strength-Stiffness Ratio
The Aerospace & Defense sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Solvay Group (Belgium), Hexcel Corp. (United States), Royal Tencate N.V (Netherlands), Teijin Limited (Japan), Toray Industries (Japan), SGL Group (Germany), Owens Corning (United States), Materion Corporation (United States), Mitsubishi Rayon Co. Ltd. (Japan), Renegade Materials Corporation (United States), Gurit (Switzerland), General Electric (United States) and Rolls Royce (United Kingdom), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Aerospace Composites is a fragmented market due to the presence of a large number of established competitors. The key players focus on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions to help them sustain themselves in the market and maintain their competitive edge.
Key Developments in the Market:
In March 2021, the leading North American supplier of composites materials and value-added services, has completed its purchase of the Process Materials business from the Solvay Composites Materials Global Business. The acquisition is a unique opportunity for the company to add international manufacturing and sales capabilities in specialized materials used in a variety of vacuum-assisted composite manufacturing processes.
In April 2022, Hexcel showcased a series of product innovations for aerospace and urban air mobility customer applications during JEC World 2022 in Paris from May 3-5. These latest innovations demonstrate the company's leadership in developing advanced composites technologies for the aerospace market.
Influencing Trend:
Focus on Getting Maximum Weight-Strength-Stiffness Ratio and Growing Focus on Providing Effective Vibration Damping keeping Passengers Comfort in Minds
Market Growth Drivers:
Rise in Number of Aircraft Deliveries and Focus on Developing Fuel Efficient Aircraft
Challenges:
Developments of Low Cost Technology, Bridging the Gap Between Supply and Demand and Environmental Impact Associated with the Use and Production of Aerospace Composites
Restraints:
Problems Associated with Recyclability and Issue Related with Maintenance, Repair and Operational (MRO)
Opportunities:
Potential Cost Reduction in Carbon Fiber and Developments in Software Tools for Advance Aerospace Composites
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Aerospace Composites Market
- Analysis about New Entrants in Aerospace Composites Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Aerospace Composites Study Sheds Light on
The Aerospace Composites Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Aerospace Composites industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Aerospace Composites industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.