Global Aerospace Composites Strategic Intelligence Report, 2022-2024 and 2030: Nanocomposites Evolve into Advanced Solutions, Strong Growth on the Cards for Ceramic Matrix Composite

News provided by

Feb 21, 2024, 12:45 ET

DUBLIN, Feb. 21, 2024 /PRNewswire/ -- The "Aerospace Composites - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Aerospace Composites Market to Reach $59.4 Billion by 2030

The global market for Aerospace Composites estimated at US$28.8 Billion in the year 2022, is projected to reach a revised size of US$59.4 Billion by 2030, growing at a CAGR of 9.5% over the analysis period 2022-2030. Carbon, one of the segments analyzed in the report, is projected to record a 10.4% CAGR and reach US$23.1 Billion by the end of the analysis period. Growth in the Ceramic segment is estimated at 9.7% CAGR for the next 8-year period.

The report focuses on the development and adoption of new materials, which serves as the cornerstone for the growth of aerospace composites. It explores how advancements in materials continue to drive transformation and advancement within the aerospace composites market. Additionally, it provides a forecast of the global market for advanced materials, projecting values for the years 2023, 2025, 2027, 2029, and 2031.

An overview of the global economic landscape is presented, highlighting key trends and factors impacting the aerospace composites market. The competitive landscape is analyzed, including the market share of key competitors in 2023 and an assessment of their market presence as strong, active, niche, or trivial.

The U.S. Market is Estimated at $9.2 Billion, While China is Forecast to Grow at 11.8% CAGR

The Aerospace Composites market in the U.S. is estimated at US$9.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$7.7 Billion by the year 2030 trailing a CAGR of 11.8% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7% and 8.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 9.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4.9 Billion by the year 2030.

MARKET TRENDS & DRIVERS

Improving Outlook for the Aerospace Industry Bodes Well for Growth in the Market
Growing Volume of Aircraft Retirement Drives Parallel Opportunity for New Aircraft Orders & Increased Demand for Composite Systems in the OEM Market
Expansion in Global Fleet to Create Parallel Opportunity for Aerospace Composites in Aircraft Manufacturing
New Route Expansion Signals a Good Return to Business & a Strong Business Case for New Aircraft Orders & Deliveries
Growing Need for Global Fleet Upkeep Drives the MRO Market, Creating Parallel Demand for Composites in Replacement Parts Production
Strong Demand for MRO Translates Into an Exciting Outlook for Aftermarket Replacement Parts & Components Manufacturing
Aging Aircraft & the Ensuing Need to Ensure Airworthiness of Older Airplanes to Spur Opportunities for Aftermarket Replacement Propeller Systems
Focus on Aircraft Lightweighting Drives Demand for Composites
As the World Steps Up Military Spending Amid Rising Global Political Conflicts, It is Uninterrupted Growth for OEMs in the Military Aircraft Supply Chain
Robust Defense Spending Amid the Unfortunate State of Global Geo-Political Affairs Opens Opportunities for Spending on Military Aircraft
Here's Why Composites Remains the Dominant Aerospace Material Category
Advanced Composites Storm into the Spotlight
Nanocomposites Evolve into Advanced Solutions in Aircraft Construction
Carbon Continues to Make Gains as Best-in-Class Aerospace Composites Material
Focus on Sustainability & the Ensuing Pressure for Zero Carbon Flying to Drive New Opportunities for Sustainable Composites
Compliance Standards for Reducing Emissions from Aviation to Become Stricter, Post Pandemic & Push Aircraft Retirements & Replacements
Composite Aircraft Propellers Storm Into the Spotlight
Strong Growth on the Cards for Ceramic Matrix Composites
Composites Made of Thermoplastic Resins Gain Traction
Despite Volatility, Expectations of Future Price Declines of Carbon Fiber Bodes Well for Increased Adoption of Carbon Fiber Composites in Aircraft
Composite Recycling Storms Into the Spotlight

FOCUS ON SELECT PLAYERS (Total 104 Featured)

Advanced Composites, Inc.
Dow, Inc.
DuPont de Nemours, Inc.
General Electric Company
Gurit Holding AG
Hexcel Corporation
Hexion Inc.
Honeywell International, Inc.
Hyosung Corporation
Kineco Kaman Composites
Koninklijke Ten Cate BV
Materion Corporation
Mitsubishi Rayon Co., Ltd.
Nippon Graphite Fiber Corporation
Owens Corning
Quantum Composites, Inc.
Renegade Materials Corporation
Rolls-Royce Holdings PLC
SGL Group - The Carbon Company
Solvay SA
Teijin Ltd.
Toray Industries, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/6psuk4

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets