The Aerospace Composite Market is segmented by Type (Exteriors and Interiors), Application (Commercial aircraft, Military aircraft, Business and general aviation, and Civil helicopters), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 17.41 billion, at a CAGR of 9.5% during the forecast period. There are several companies that are contributing to the market as per this report. Rising adoption of carbon fiber-reinforced plastic composites in aircraft components .
In the aerospace industry, composites have become a vital component in enhancing the exterior structures of aircraft, leading to increased efficiency, performance, and durability. Carbon fiber-reinforced composites, specifically, are extensively utilized in fuselage structures due to their superior strength-to-weight ratio. This attribute reduces the overall aircraft weight, thereby improving fuel efficiency. Boeing's 787 Dreamliner exemplifies this trend, featuring a predominantly composite fuselage. Furthermore, composites are integral to wings and wing components, as seen in Airbus A350 XWB's wings, which contain a substantial percentage of these materials. This application provides the necessary structural strength while maintaining lightweight wings, ultimately contributing to improved overall performance and fuel efficiency. Additionally, composites are extensively used in aircraft tail sections, including horizontal and vertical stabilizers, due to their structural advantages, which significantly enhance overall aircraft performance and fuel efficiency.
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The North American region dominates the global aerospace composite market, with countries like the United States and Canada leading the adoption of composite materials. This trend is driven by the focus on lightweight, high-performance composites in the construction of aircraft, resulting in improved fuel efficiency and enhanced performance. Key industry players, such as Boeing and Lockheed Martin, based in the US, significantly contribute to the regional market. Boeing, for instance, extensively utilizes composite materials in its advanced aircraft, including the B787 Dreamliner, which showcases superior fuel efficiency and performance benefits. The North American aerospace industry is at the forefront of technological innovation in the application of composites.
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The aerospace composite market is experiencing significant growth due to the increasing demand for lightweight and high-performance materials in commercial aviation. With the continuous rise in passenger traffic and aircraft purchases, the need for fuel-efficient and durable aerospace components has become essential. Composites, including carbon fibers and Aramid honeycomb cores, are increasingly being used in structural applications such as tail skins, wing boxes, wing skins, fuselages, and other aerospace components. Manufacturers are leveraging Advanced Fiber Placement (AFP) and Automated Tape Laying (ATL) technologies to produce composite parts for wings, fuselages, undercarriages, engine nacelles, and landing gears. Ethiopian Airlines and Malaysian Airlines, among others, have already integrated composite materials in their new aircraft, leading the way for the industry's transition towards more sustainable and efficient solutions. Propulsion systems and wings are also benefiting from the use of composites, contributing to improved fuel efficiency and reduced emissions. Overall, the aerospace composite market is poised for continued growth as commercial aviation continues to expand.
The global aerospace composite market is a significant segment of the broader global capital goods market, specifically the aerospace and defense sector. This market includes companies and products related to the manufacturing of aerial platforms for commercial and general aviation, as well as defense platforms for naval, land, and air applications. Additionally, it covers arms and ammunition, defense electronics, defense logistics equipment, space platforms, and related launch vehicles. Technavio's calculation of the global capital goods market size encompasses the revenues generated by industries such as aerospace and defense, building and construction, electrical equipment, industrial conglomerates, machinery, trading companies, and distributors. Furthermore, the global aerospace and defense market extends to maintenance, overhaul, and repair (MRO) activities for both commercial and defense sectors. - The Aerospace Composite Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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