Latest News- Aerospace Composite Market: Exteriors is expected to lead the Type segment during 2024-2028

The Aerospace Composite Market is being driven by Increasing demand for weight reduction and fuel efficiency in aircraft

The Aerospace Composite Market is expected to grow at a CAGR of 9.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 17.41 billion. The aerospace composite market is witnessing significant growth due to the increasing adoption of carbon fiber-reinforced polymer (CFRP) composites in aircraft manufacturing. CFRP composites offer a superior strength-to-weight ratio, making them an ideal choice for producing lightweight yet robust aircraft components. This feature not only enhances aircraft performance and fuel efficiency but also aligns with the aviation industry's focus on environmental sustainability. Furthermore, CFRP composites provide design flexibility, enabling the creation of intricate and aerodynamic structures. This flexibility allows aircraft manufacturers to optimize component design, leading to improved efficiency and reduced fuel consumption and emissions. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Exteriors
  • Interiors
• Application
  • Commercial aircraft
  • Military aircraft
  • Business and general aviation
  • Civil helicopters
• Fiber Type
  • Carbon Fiber
  • Glass Fiber
  • Aramid Fiber
  • Others
  • Carbon Fiber
  • Glass Fiber
  • Aramid Fiber
  • Others
• Manufacturing Process
  • ATL or AFP
  • Filament Winding
  • Resin Transfer Molding
  • Hand Layup
  • Others
  • ATL or AFP
  • Filament Winding
  • Resin Transfer Molding
  • Hand Layup
  • Others
• Geography
  • North America
    • US
  • Europe
    • Germany
    • France
  • APAC
    • China
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for weight reduction and fuel efficiency in aircraft
• Development of fuel-efficient aircrafts using composite materials
• Composite materials providing long-term opportunities for aerospace manufacturing

However, the market also witnesses some limitations, which are as follows:

• Complexity issues related to repair and maintenance of composite materials
• Limited flexibility in aircraft designing
• Lack of recyclability opportunities for composite materials

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Market Scope in Aerospace Composite Market Research Report

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Research Analysis Overview

The Aerospace Composite Market encompasses innovative technologies such as composite design software and simulation tools, ensuring quality control through process automation and industry standards, adherence to safety regulations, and advanced manufacturing techniques. Material characterization, failure analysis, damage tolerance, and fatigue life prediction are integral for enhancing composite performance. Surface treatment, finishing, joining technologies, and fastening systems optimize structural analysis, stress analysis, vibration analysis, acoustic analysis, and thermal analysis. Manufacturing cost, production efficiency, maintenance procedures, life cycle management, sustainability assessment, environmental impact, and carbon footprint are crucial considerations for the circular economy in this sector.

Market Research Overview

The aerospace composite market is a significant segment of the global aerospace and defense industry, which falls under the broader capital goods market. This market encompasses the production of carbon fiber, glass fiber, and aramid fiber composites, as well as epoxy resins, thermoset resins, thermoplastic resins, prepreg materials, and autoclave processing. The aerospace and defense sector includes manufacturers and providers of aerial platforms for commercial and general aviation, defense platforms for naval, land, and air domains, arms and ammunition, defense electronics, defense logistics equipment, and space platforms, equipment, and launch vehicles. Additionally, the market covers MRO activities related to these sectors. The global capital goods market size is determined by the revenue generated by industries such as aerospace and defense, building, construction and engineering, electrical equipment, industrial conglomerates, machinery, trading companies, and distributors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/