Aerospace Composites Market 2024 Global Analysis By key Players - Hexcel, E.I. DuPont de Nemours, LMI Aerospace, Solvay Group, and BASF

Commercial aircraft is expected to dominate the aerospace composites market with 52% revenue share over the next eight years owing to rising usage of composites, especially carbon fiber in these aircrafts. Increasing expenditure in defense will support the high revenue generation till 2024. Military aircrafts will grow exponentially owing to the rising investments in military aviation across the globe. For instance, the military aviation sector in India is expected to invest approximately USD 35 billion over the next 20 years.

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Aerospace Composites Market size is estimated to surpass USD 5 billion by 2024. Global aerospace composites are expected to cross 70 thousand tons till 2024. Continuously rising demand for commercial aircrafts along with growing defense sector will primarily drive the growth over the forecast timespan. Rising passenger traffic travelling by air across the globe will also have a positive impact on the aerospace composites market size.

Huge investments by various governments in aerospace business will spur the aerospace composites market growth till 2024. The economies that are witnessing rapid growth in aerospace industry are forecasted to possess robust growth prospects over the coming years. These investments will contribute significantly towards the high revenue generation over the next eight years. However, complex manufacturing processes may hamper the aerospace composites market growth.

Advanced fiber recycling, especially for carbon fiber will be witnessed as an emerging trend over the coming years. The significant potential demand of reclaimed fibers can be attributed to their high value, recovered high strength, and high modulus aerospace grade fibers that retain better properties. One of the key innovations is the complete digitization of the aerospace industry. This includes real-time resource planning & allocation and high-tech enabled equipment and engines that notify the maintenance staff & operations centers during issues in the aircrafts.

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Carbon fiber will account for highest revenue share in the industry crossing USD 3.5 billion till 2024. Rising demand from commercial airline operators for their external structural operations will support the aerospace composites market dominance. These external operations are the primary & secondary aircraft structures that include wings, fuselage, undercarriage, and propulsion systems. Reduction in the raw material cost for production of carbon fiber will further escalate the aerospace composites market growth.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Cytec Industries
2. Hexcel
3. Koninklijke Ten Cate
4. Argosy International
5. Axioms Materials
6. BASF
7. E. I. du Pont de Nemours
8. Gurit Holding AG
9. Huntsman International
10. Owens Corning
11. Teijin Ltd.
12. Toray Industries
13. JPS Composite Materials
14. Lee Aerospace
15. ACT Aerospace
16. LMI Aerospace
17. Hindustan Aeronautics
18. SGL Group
19. Solvay

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North America aerospace composites market is anticipated to cross USD 2 billion, capturing almost 40% revenue share till 2024. Higher consumer spending along with the constant ageing of commercial aircraft are among the primary factors influencing the overall product penetration in the region. Additionally, huge investments in defense sector in developed countries such as U.S. will induce immense potential to the regional growth. Asia Pacific aerospace composites market will witness highest growth rate over the forecast timeframe owing to rising demand of commercial aircrafts across the region, especially in the emerging economies including China.

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