Aerospace Composite Materials - Market Scope
Aerospace Composite Materials are any material system consisting of two or more discrete materials that collectively provide properties that could not be exhibited by any of the constituent materials in isolation. Aerospace Composite Materials are made of a fibrous reinforcement such as carbon or glass fiber, which provide strength and stiffness, embedded in a matrix material to provide the overall shape, support, and toughness of the material. Aerospace Composite Materials are becoming increasingly important in the aerospace industry. Although several applications in the aerospace sector have shown significant growth in the forecast period. The nature of Aerospace Composite Materials and special problems in designing and working with them is then highlighted. Aerospace Composite Materials are utilized extensively across aircraft, with use becoming ever more widespread as materials and processes become more affordable and are better able to meet product requirements. The global aerospace composites market was valued at USD 11.5bn in 2015 and is expected to grow to USD 24.8bn by 2025 with a CAGR of 9.1%. The demand for the market is propelling to an extreme level in the forecast period.
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|Key Companies Profiled||Airbus (France), 3DFortify (United States), Arris Composites (United States), Rolls-Royce (United Kingdom), 9T Labs (Switzerland), Collins Aerospace (United States), Markforged (United States), Hexcel Corporation (United States), SMI Composites, LLC (United States), Kineco Limited (India), satsearch B.V (Netherlands), Hexagon AB (Sweden), Solvay (Belgium), PARK AEROSPACE CORP (United States) and Others|
The major and local companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The major players are exploring the new regions through expansions and acquisitions to avail a competitive advantage through combined synergies. The market is expected to grow in the aviation industry. Several companies such as are operating in the market to provide customers with better offers with various features & unique offerings. The market is a partially fragmented market with the presence of several market players and local players.
Airbus (France), 3DFortify (United States), Arris Composites (United States), Rolls-Royce (United Kingdom), 9T Labs (Switzerland), Collins Aerospace (United States), Markforged (United States), Hexcel Corporation (United States), SMI Composites, LLC (United States), Kineco Limited (India), satsearch B.V (Netherlands), Hexagon AB (Sweden), Solvay (Belgium), PARK AEROSPACE CORP (United States) and Others are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Aerospace Composite Materials - market , by Application (Airplanes, Helicopters and Others) and Region with country level break-up.On the basis of application, segment is dominating the market in the year 2021
On the basis of geography, the market of Aerospace Composite Materials - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2021.
Market Leaders and their expansionary development strategiesOn November 2021 Collins Aerospace has acquired Dutch Thermoplastic Components to deliver lighter, cost-efficient, and sustainable aircraft structures. The main aim of the acquisition will expand the use of advanced thermoplastics to make aircraft lighter and more fuel-efficient.
On July 2021 Markforged has Launches Two Composite Materials Designed for Aerospace and Other Highly-Regulated Industries. The main advantage of introducing new products in the portfolio is to expand its product portfolio.
- Increasing demand for new air vehicle architectures with more electric systems with lightweight composite structures is the main factor trending in the market over the forecast period.
- Aerospace Composite Materials are becoming increasingly important in the aerospace industry. Aerospace Composite Materials are fast gaining for the construction of aircraft and space crafts. So these are quite an extreme factor that is driving the market the growth. However at least 30-40 percent of modern airframes are now made of composites, and this percentage is increasing rapidly due to technological advances in the fieldfare-reinforced polymer Aerospace
- Rising demand for ATI will work to identify suitable opportunities across aerospace, with other national programs, and with other sectors for composite technologies that generate technology impact and economic benefit for the aerospace sector. The demand for ATI will coordinate relevant activities and disseminate insights to organizations positioned to deliver these requirements. So these are quite factors this crating another opportunity to the market
- On the other hand, challenges that the aviation sector faces are in the form of high manufacturing costs, diverse supply across states, need for an increase in government cooperation, inefficient financing, lack of consumer awareness, and an overall lack of uniform standards. Hence these are a quite challenging factor that is hampering the market demand
- Manufacturers are constantly concerned about raw materials. With another recession looming and a Unites States trade war heating up, volatile raw material prices posted significant challenges throughout 2020 and will continue to do so in the foreseeable future. These are quite an extreme factor that is hampering the market growth in the forecast period.
Key Target AudienceRegulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments, OEM (Original Equipment Manufacturer), Raw Material Supplier and End-use Industry
Frequently Asked Questions (FAQ):
1. What are the key segments playing vital role in Aerospace Composite Materials - Market?
The Aerospace Composite Materials - study can be customized to meet your requirements. The market size breakdown by type , by end use application [Airplanes, Helicopters and Others].
2. How big is the Aerospace Composite Materials - Market?
The Aerospace Composite Materials - Market is gaining popularity and expected to see strong valuation by 2027.