Global Aerospace Composites Market Segmentation, By Resin (Thermosetting and Thermoplastic), Fiber Type (Carbon Fiber Composites, Ceramic Fiber Composites, Glass Fiber Composites and Others), Matrix Type (Polymer Matrix, Ceramic Matrix and Metal Matrix), Application (Interior and Exterior), Manufacturing Process (Automated Tape Laying (ATL) and Automated Fiber Placement (AFP), Lay-Up, Resin Transfer Molding, Filament Winding and Others), Aircraft Type (Commercial Aircraft, Business and General Aviation, Civil Helicopter, Military Aircraft and Others) - Industry Trends and Forecast to 2031
Aerospace Composites Market Analysis
The aerospace composites market is experiencing significant growth, driven by the increasing demand for lightweight materials that enhance fuel efficiency and performance in aircraft. Composites, particularly carbon fiber and thermoplastics, are increasingly utilized in the manufacturing of aircraft components due to their superior strength-to-weight ratio and resistance to corrosion. Recent developments, such as advancements in manufacturing techniques such as automated fiber placement (AFP) and resin transfer molding (RTM), have improved production efficiency and reduced costs. Major players in the market, including Boeing and Airbus, are investing in innovative composite technologies to meet the rising requirements for more sustainable aviation solutions. In addition, the focus on reducing carbon emissions has prompted manufacturers to integrate aerospace composites in both commercial and military aircraft designs. As the aerospace industry continues to evolve, the adoption of advanced composites will play a crucial role in enhancing aircraft performance, safety, and environmental sustainability.
Aerospace Composites Market Size
The global aerospace composites market size was valued at USD 26.49 billion in 2023 and is projected to reach USD 56.16 billion by 2031, with a CAGR of 9.85% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
Aerospace Composites Market Trends
“Increasing Adoption of Bio-Based Composites”
The aerospace composites market is experiencing significant growth, driven by the increasing demand for lightweight materials that enhance fuel efficiency and performance in aircraft. One notable trend in the aerospace composites market is the increasing adoption of bio-based composites, driven by the aviation industry's push for sustainability and reduced environmental impact. These materials are derived from renewable resources and offer a lower carbon footprint compared to traditional petroleum-based composites. For instance, Boeing has started exploring the use of bio-composites in its aircraft interiors, such as the 787 Dreamliner, where natural fibers are integrated into the design to enhance sustainability while maintaining performance standards. This shift aligns with regulatory requirements for reduced emissions and responds to consumer demand for greener aviation solutions. Such trend highlights the industry's commitment to innovation and environmental responsibility, shaping the future of aerospace materials.
Report Scope and Aerospace Composites Market Segmentation
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Attributes
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Aerospace Composites Key Market Insights
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Segments Covered
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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dsm-firmenich (Netherlands), TEIJIN LIMITED (Japan), TORAY INDUSTRIES, INC. (Japan), Honeywell International Inc. (U.S.), DuPont (U.S.), Solvay (Belgium), Gurit Services AG (Switzerland), Morgan Advanced Materials plc (U.K.), Southern States, llc (U.S.), Barrday Inc. (Canada), Plastic Reinforcement Fabrics Ltd (U.K.), Gaffco Ballistics (U.S.), M Cubed Technologies (U.S.), Roihu Inc. (Finland), MKU Limited (India), ArmorSource, LLC. (U.S.), Elmon (Turkey), JPS Composite Materials (U.S.), and ITT INC. (U.S.)
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Market Opportunities
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Value Added Data Infosets
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include import export analysis, production capacity overview, production consumption analysis, price trend analysis, climate change scenario, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
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Aerospace Composites Market Definition
Aerospace composites refer to advanced materials used in the construction of aircraft and spacecraft, primarily consisting of a combination of reinforcing fibers and a matrix material. The reinforcing fibers, such as carbon fiber or glass fiber, provide strength and stiffness, while the matrix, often made of thermosetting or thermoplastic polymers, binds the fibers together and transfers loads between them. These composites are engineered to offer a high strength-to-weight ratio, corrosion resistance, and thermal stability, making them ideal for aerospace applications.
Aerospace Composites Market Dynamics
Drivers
- Increasing Aircraft Production Rates
Increased aircraft production rates are a significant driver in the aerospace composites market, primarily due to the surge in global air travel, which is projected to double by 2037, according to the International Air Transport Association (IATA). This growth is particularly pronounced in emerging markets such as Asia-Pacific, where air passenger numbers are expected to reach 3.3 billion by 2037, necessitating the construction of more commercial aircraft. Aerospace composites are integral to this production, as they are used in key components such as wings, fuselage sections, and tail assemblies, providing the lightweight and high-strength properties necessary for modern aircraft. Furthermore, military demand is also on the rise, with countries expanding their fleets to enhance defence capabilities. As a result, the increasing production rates drives the aerospace composites market and contribute to advancements in materials technology and manufacturing processes.
- Growing Demand for Lightweight Materials
The growing demand for lightweight materials is a significant driver in the aerospace composites market, largely fueled by the aviation industry's emphasis on fuel efficiency and carbon emissions reduction. According to the International Air Transport Association (IATA), the aviation sector accounts for approximately 2.5% of global CO2 emissions, and improving fuel efficiency is vital for minimizing this impact. Aerospace composites, such as carbon fiber-reinforced polymers (CFRP), have a strength-to-weight ratio that is often several times greater than that of traditional aluminum. Such shift towards lightweight composites enhances aircraft performance and aligns with the industry’s sustainability goals, making it a critical focus for manufacturers aiming to meet regulatory pressures and consumer expectations for greener travel options, ultimately driving the market growth.
Opportunities
- Increasing Advancements in Manufacturing Techniques
Advancements in manufacturing techniques, particularly through innovations such as automated fiber placement (AFP) and 3D printing, are revolutionizing the production of complex composite structures in the aerospace industry. AFP allows for the precise and automated laying of composite fibers, enabling the creation of intricate geometries that were previously difficult to achieve using traditional methods. Such technology significantly streamlines production processes, reducing manual labor and the potential for human error, which leads to enhanced quality and consistency in the final products. Similarly, 3D printing technologies, such as fused deposition modeling (FDM) and selective laser sintering (SLS), enable rapid prototyping and the production of lightweight, customized parts on demand. As a result, these techniques are increasingly being adopted across the aerospace sector, creating further opportunities and development in aerospace composites manufacturing.
- Increasing Use of Composites in Military Applications
The increasing use of composites in military applications reflects a growing demand for advanced materials that enhance the performance and durability of military aircraft. Defense organizations are prioritizing the development of aircraft that meet stringent performance criteria and offer operational advantages such as reduced weight and increased stealth capabilities. Composites are particularly well-suited for these requirements due to their superior strength-to-weight ratio and inherent resistance to environmental degradation. For instance, the F-35 Lightning II, a fifth-generation stealth fighter developed by Lockheed Martin, incorporates a significant amount of composite materials in its structure, which enhances its stealth capabilities by reducing radar cross-section and improving overall performance. In addition, the use of composites helps lower maintenance requirements, as they are less susceptible to corrosion compared to traditional metals, resulting in reduced downtime and lifecycle costs. As military organizations continue to invest in next-generation aircraft and upgrade existing fleets, the demand for composite materials is expected to rise, further driving innovation and creating opportunities in the market.
Restraints/Challenges
- High Production Costs
High production costs represent a significant challenge for the aerospace composites market, as the initial expenses for manufacturing these materials can be considerably higher than those for traditional materials such as metals. This discrepancy stems from the complexities associated with composite production, which involves the use of specialized raw materials, advanced manufacturing techniques, and specialized equipment, such as automated fiber placement machines and autoclaves. For intsance, the cost of carbon fiber, a commonly used composite material in aerospace instance, is substantially higher than that of aluminum or steel. In addition, the intricate processes required to create composite structures such as precise layering, curing, and quality control further escalate production costs. These financial barriers can deter smaller manufacturers or new entrants from adopting composite materials, limiting their ability to compete in a market increasingly leaning toward advanced materials. As a result, the high production costs may inhibit innovation and slow down the widespread adoption of aerospace composites.
- Stringent Regulations and Certification Processes
Regulatory hurdles present a significant challenge in the aerospace composites market, as the industry is governed by stringent regulations and certification processes aimed at ensuring the safety and reliability of all materials used in aircraft manufacturing. For instance, the Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA) impose rigorous certification protocols for composite materials, necessitating thorough evaluations of their mechanical properties, durability, and long-term performance under extreme conditions. This meticulous certification process can lead to delays in product development and market entry, as manufacturers must allocate significant time and resources to meet these stringent requirements. Such regulatory complexities can deter innovation and slow the adoption of advanced composite materials, particularly among smaller manufacturers who may lack the necessary resources to navigate the certification landscape effectively.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Aerospace Composites Market Scope
The market is segmented on the basis of resin, fiber type, matrix type, application, and aircraft type. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Resin
- Thermosetting
- Thermoplastic
Fiber Type
- Carbon Fiber Composites
- Ceramic Fiber Composites
- Glass Fiber Composites
- Others
Matrix Type
- Polymer Matrix
- Ceramic Matrix
- Metal Matrix
Application
- Interior
- Exterior
Manufacturing Process
- Automated Tape Laying (ATL)
- Automated Fiber Placement (AFP)
- Lay-Up
- Resin Transfer Molding
- Filament Winding
- Others
Aircraft Type
- Commercial Aircraft
- Business and General Aviation
- Civil Helicopter
- Military Aircraft
- Others
Aerospace Composites Market Regional Analysis
The market is analysed and market size insights and trends are provided by country, resin, fiber type, matrix type, application, and aircraft type as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America leads the aerospace composites market, driven by a surge in demand from the defence sector and heightened trade activities within the region. The U.S. government's focus on modernizing military capabilities and enhancing national security has significantly boosted the need for advanced composite materials in aerospace applications. In addition, the presence of major industry players, such as Boeing and Lockheed Martin, further strengthens North America's position, fostering innovation and competitiveness in the aerospace composites sector.
The Asia-Pacific region is anticipated to achieve the highest compound annual growth rate (CAGR) in the aerospace composites market, fuelled by a surge in research and development initiatives. Countries such as India and China are witnessing a rise in tourism, which drives the demand for modern aircraft and, consequently, advanced composite materials. In addition, the robust economic growth in emerging nations, coupled with the abundant availability of raw materials, further enhances the region's attractiveness for aerospace composite manufacturing and innovation.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Aerospace Composites Market Share
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Aerospace Composites Market Leaders Operating in the Market Are:
- dsm-firmenich (Netherlands)
- TEIJIN LIMITED (Japan)
- TORAY INDUSTRIES, INC. (Japan)
- Honeywell International Inc. (U.S.)
- DuPont (U.S.)
- Solvay (Belgium)
- Gurit Services AG (Switzerland)
- Morgan Advanced Materials plc (U.K.)
- Southern States, llc (U.S.)
- Barrday Inc. (Canada)
- Plastic Reinforcement Fabrics Ltd (U.K.)
- Gaffco Ballistics (U.S.)
- M Cubed Technologies (U.S.)
- Roihu Inc. (Finland)
- MKU Limited (India)
- ArmorSource, LLC. (U.S.)
- Elmon (Turkey)
- JPS Composite Materials (U.S.)
- ITT INC. (U.S.)
Latest Developments in Aerospace Composites Market
- In March 2024, Hexcel Corporation and Arkema entered into a strategic partnership for the development of high-performance thermoplastic composite structures. The high-performance thermoplastic composite structure was designed and manufactured using HexPly thermoplastic tapes. This innovative demonstrator was successfully developed within the collaborative project HAICOPAS which is led by Hexcel and Arkema
- In January 2024, Materion Beryllium & Composites (subsidiary of Materion Corporation) partnered with Liquidmetal Technologies Inc. Materion Beryllium & Composites, in partnership with Liquidmetal and other Certified Liquidmetal Partners, will use their alloy production technologies to provide high-quality products and support services to their customers
- In August 2023, Spirit AeroSystems, Inc. and Oak Ridge National Laboratory entered into a strategic agreement. Both players collaboratively explore advances in high-temperature in-situ process monitoring techniques and predictive modeling capability for microstructure-based performance and certification of carbon and ceramic composites and additively manufactured alloys
- In July 2023, NASA granted an USD 800,000 Phase II Small Business Technology Transfer (STTR) contract to AnalySwift LLC, a U.S.-based firm, to develop a Design Tool for Advanced Tailorable Composites (DATC), with plans for launch by 2025
- In December 2022, Velocity Composites, a leading supplier of aerospace composite material kits, announced its entry into the U.S. aerospace market through a partnership agreement with GKN Aerospace, projected to generate over USD 100 million in revenue over the next five years
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