Global Aerospace Composites Market Overview
Aerospace Composites Market Size was valued at USD 21.2 billion in 2022. The aerospace composites market industry is projected to grow from USD 24.1192 Billion in 2023 to USD 67.699 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.77% during the forecast period (2023 - 2032). The presence of aerospace composites in the aerospace sector is growing quickly, and utilizing the uses of aerospace composites in unusual components is the key market driver enhancing market growth.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Aerospace Composites Market Trends
The presence of aerospace composites is driving the market growth.
In the composites market, the aerospace industry has quickly developed. The skins of the American F15 and F14 fighters' empennages were one of the first applications of contemporary composite materials in the aerospace sector in the 1970s. Composites were initially only used in a few secondary structures, but as knowledge and technology advanced, the aerospace industry saw a significant increase in the use of composites. Wings and fuselages are just two examples of the many primary structures that use composites today.
The aerospace industry uses a variety of material matrix composites, including fiber- and metal-particle-reinforced composites. Although the supply chain for manufacturing aerospace composite components is complicated, composite manufacturers guarantee a constant flow of these materials in various parts of the world despite numerous difficulties. The presence of aerospace composites in the aerospace sector is growing quickly. Aircraft manufacturers are utilizing aerospace composites in unusual components like the engine blade due to the advantages of flexibility in design, superior strength, and low weight. One example is the engine blades for the LEAP (Leading Edge Aviation Propulsion) in the Airbus A320neo. Some manufacturers have added composites to the seating material to make their products lighter and more enduring. For instance, one aerospace seat made by French company Explicit weighs only 4 Kg thanks to composite and titanium materials. It is the lightest seat to pass the crash test and saves about USD 400,000 in fuel annually in both the B737 and A320.
Long known for having a low combined net income margin of typically 2% to 3%, the aerospace sector. By releasing the 787 Dreamliner in 2011, made of more than 50% composite materials and selling the dream of the lucrative airline business, Boeing revolutionized the aerospace industry. Compared to the 767, this aircraft offers fuel savings of about 20 percent. Later, Airbus debuted the A350 XWB, which made similar claims about using composite materials and fuel efficiency. Additionally, the aerospace sector is quickly growing in Asia-Pacific's developing nations. Airlines must provide local customers with enticing deals and reasonably priced services to support and ensure the aerospace composites market in these nations grows properly. By reducing fuel costs and providing other benefits, composite has significantly aided airlines in maintaining and expanding their operations in these developing economies. Additionally, the high-performance standards for military aircraft have increased their use of composite materials. Modern fighters like the F16, Gripen JAS39, Eurofighter, Mirage 2000, Rafael, and many others contain various aerospace composites in the form of different aircraft components, contributing to their high performance and low operating costs per hour. Thus, driving the aerospace composites market revenue.
Aerospace Composites Market Segment Insights
Aerospace Composites Type Insights
The aerospace composites market segmentation, based on type, includes glass, carbon, and aramid fiber. The carbon fiber segment dominated the market, Aerospace applications frequently use carbon fiber composites because of their excellent strength-to-weight and anti-corrosive properties. The aerospace industry has widely adopted carbon fiber composites for various uses, including wing and fuselage construction, engine nacelles, fan housings, floorboards, and interior components. Due to a slowdown in the industry and aircraft manufacturers cutting back on deliveries in 2020, the COVID-19 pandemic would lower the demand for carbon fiber composites.
Aerospace Composites Applications Insights
Based on applications, the aerospace composites market segmentation includes commercial and military. The commercial category generated the most income. Because commercial aircraft producers like Airbus and Boing have a high demand. Large quantities of composite materials are used in the construction of commercial aircraft, whose airframes are made up to 50% of the total weight. The aramid honeycomb core's high tensile strength and lightweight quality increase fuel efficiency, lower maintenance costs, and enable OEMs to meet strict environmental regulations, particularly those outlined in Europe and North America. The need for aerospace composites in the airways is thereby further increased.
Figure 1: Aerospace Composites Market, by Applications, 2022 & 2032 (USD billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Aerospace Composites Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American aerospace composites market will dominate this market, the region's ability to produce complex aerospace components, thanks to the presence of large aircraft manufacturers and the availability of advanced technology. For instance, of the four fuselage sections of the Boeing 787, two are produced in the United States (the nose section in Kansa and the rear section in Charleston), one is produced by Kawasaki Heavy Industries in Japan, and two are produced in Italy. These pieces are together and connected in Everett, Washington, and the United States. Due to its extensive use of composite materials, the United States also has the world's largest fleet of military aircraft. Several US military aircraft, such as the B2 bomber, Gripen JAS39, F22 Raptor, F16, AV-8B, and F18 Hornet, have a sizable proportion of composite materials.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: AEROSPACE COMPOSITES MARKET SHARE BY REGION 2022 (%)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s aerospace composites market accounts for the second-largest market share. The area's main users of aerospace composites are commercial and military aircraft. Airbus is one of the area’s biggest composites consumers and uses them primarily for the A350. In France, Spain, and Germany, different fuselage parts are produced. Some of the region's top aerospace buyers in the military aircraft market include Dassault Aviation, BAE group (Airbus Group), Russian Aircraft Corporation MiG, JSC Sukhoi Company, and others. Further, the German aerospace composites market held the largest market share, and the UK aerospace composites market was the fastest-growing market in the European region.
The Asia-Pacific Aerospace Composites Market is expected to grow at the fastest CAGR from 2023 to 2032. The demand for mid-sized commercial aircraft has increased significantly to support the expansion of the aerospace industry in emerging economies like China and India. Furthermore, the rising military budget and expenditure on fighter jets in countries like India are also expected to create lucrative growth opportunities for the stakeholders in the market. Moreover, China’s aerospace composites market held the largest market share, and the Indian aerospace composites market was the fastest-growing market in the Asia-Pacific region.
By automating and optimizing its cutting and kitting processes at the primary manufacturing plant of the business, Plataine (Waltham, Massachusetts, U.S.) has announced that it has delivered rapid results for a major aircraft manufacturer in Middle East. The Middle Eastern firm, which makes composite-based aerostructures, was eager to investigate the most recent AI technologies in order to further optimize its production processes, boost output, and decrease material waste. Plataine's AI-based solution enables the aerospace company to more effectively utilize its current inventory by automatically generating optimized production plans based on the incoming work orders, accessible inventory, and production constraints. This entails using scraps & short material rolls in addition to trimming plies around flaws and utilizing rolls of material to the fullest amount possible.
The technology in lightweight composites & mobility solutions that Sekisui Aerospace (Renton, Washington, U.S.) has created demonstrate its dedication to pushing limits and creating standards of excellence. Through digital transformation, sustainability, safety, customer happiness, and aviation breakthroughs, the organization hopes to better the sector. Sekisui Aerospace rebuilding a 787 blocker door to demonstrate the idea, constructed a rib-stiffened, one-piece, thermoplastic blocker door using their QForge technology.
NASA Awardees will create sustainable composite technology for aviation. 14 organizations will share $50 million in grants from NASA to create production techniques and cutting-edge composite materials for the aircraft structures. These environmentally friendly methods might aid in lowering carbon emissions from flying. The grants are part of NASA's Hi-Rate Composite Aircraft Manufacturing effort, which aims to lower the price and boost the output of composite structures produced in the United States. Airlines will save fuel and cut emissions with more lightweight, and composite airframes in use, improving the sustainability of commercial flying. U.S. competitiveness in the commercial aviation sector is driven by sustainability, cost, & aircraft production rate.
Aerospace Composites Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the aerospace composites market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The aerospace composites products industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the aerospace composites industry to benefit clients and increase the market sector. The aerospace composites industry has offered some of the most significant advantages in recent years. Major aerospace composites market players, including Toray Industries Ltd. (Japan), Solvay Group (Belgium), Teijin Limited (Japan), Owen Corning (U.S.), Royal Ten Cate (Netherlands), SGL Group (Germany), Kaman (U.S.), Hexcel Corporation (U.S.), General Electric (U.S.), Koninklijke Ten Cate BV (Netherlands) and others, are attempting to increase market demand by investing in research and development operations.
General Electric (U.S.), GE’s diverse and committed workforce, operates with the utmost integrity and dedication to fulfill its mission and satisfy its clients. The Board and our leadership team are dedicated to achieving this goal. GE brings cutting-edge solutions to the market, providing vital infrastructure for the energy, healthcare, and transportation sectors. We strive to operate with the highest standards of integrity, compliance culture, and respect for human rights while minimizing our technology's negative environmental effects. In this unprecedented period, we still do everything possible to support our clients and staff. We are extremely proud of how GE employees responded to the challenge globally. The General Electric Company (GE) is a American corporation. GE has created the industrial future for more than 125 years. Today, GE is best known for its work in the healthcare, aviation, power, and renewable energy sectors.
SGL Group (Germany), Future-defining industries, are interested in our distinctive graphite and composite materials and products. Among them are automotive, aerospace, solar, and wind energy businesses and semiconductors, LEDs, and lithium-ion battery producers. We also create ground-breaking solutions for various industrial and chemical applications. Unlike a material manufacturer, we offer more services. We see ourselves as a partner in development and a trendsetter. Our dependable solutions are built around the needs of our clients, and our clients profit from our in-depth knowledge of materials, engineering, and applications. We provide goods at every stage of the production process, from raw materials and intermediates to final components, for specialty graphites and composites. As a result, from the initial concept to mass production, high-quality customized solutions are now feasible.
Key Companies in the aerospace composites market include.
Aerospace Composites Industry Developments
- Toray Industries Ltd. (Japan)
- Solvay Group (Belgium)
- Teijin Limited (Japan)
- Owen Corning (U.S.)
- Royal Ten Cate (Netherlands)
- SGL Group (Germany)
- Hexcel Corporation (U.S.)
- General Electric (U.S.)
- Koninklijke Ten Cate BV (Netherlands)
For Instance, March 2022 c-m-p GmbH, a German manufacturer of Carbon Fiber Prepreg, has been targeted for acquisition by Mitsubishi Chemical Corporation, a manufacturer of numerous chemicals and materials with headquarters in Japan. This is anticipated to strengthen the company's position in the carbon fiber composites market.
For Instance, January 2022 Teijin Limited, a Japanese manufacturer of diverse fibers and other materials, recently announced an agreement to acquire Renegade Materials Corporation, a US-based producer of composite materials for the aerospace sector.
Aerospace Composites Market Segmentation
Aerospace Composites Type Outlook
Aerospace Composites Application Outlook
Aerospace Composites Regional Outlook
- Glass Fiber
- Carbon Fiber
- Aramid Fiber
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Latin America
Aerospace Composites Report Scope
|Market Size 2022
|USD 21.2 billion
|Market Size 2023
|USD 24.1192 billion
|Market Size 2032
|USD 67.699 billion
|Compound Annual Growth Rate (CAGR)
|Market Forecast Period
|Market Forecast Units
|Value (USD Billion)
|Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
|Type, Application, and Region
|North America, Europe, Asia Pacific, and the Rest of the World
|The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
|Key Companies Profiled
|Toray Industries Ltd. (Japan), Solvay Group (Belgium), Teijin Limited (Japan), Owen Corning (U.S.), Royal Ten Cate (Netherlands), SGL Group (Germany), Kaman (U.S.), Hexcel Corporation (U.S.), General Electric (U.S.), Koninklijke Ten Cate BV (Netherlands)
|Key Market Opportunities
|Presence of aerospace composites in the aerospace sector is growing quickly
|Key Market Dynamics
|Advantages of flexibility in design, superior strength, and low weight
Aerospace Composites Market Highlights:
Frequently Asked Questions (FAQ) :
The aerospace composites market size was valued at USD 21.2 Billion in 2022.
The market is projected to grow at a CAGR of 13.77% during the 2023-2032.
North America had the largest share of the market
The key players in the market are Toray Industries Ltd. (Japan), Solvay Group (Belgium), Teijin Limited (Japan), Owen Corning (U.S.), Royal Ten Cate (Netherlands), SGL Group (Germany), Kaman (U.S.), Hexcel Corporation (U.S.), General Electric (U.S.), Koninklijke Ten Cate BV (Netherlands).
The carbon fiber composites category dominated the market in 2022.
The commercial had the largest share in the market.
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