Aerospace Composites Market 2018 Global Key Leaders: Owen Corning, Solvay Group, Royal Ten Cate, Toray Industries, Hexcel Corporation, General Electric, Koninklijke

Market Research Future Published a Cooked Research “Global Aerospace Composites Market Research Report - Forecast to 2023” - Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2023

Market Scenario:

Composite materials are used for various purposes in the aircraft industry. The advantage of composites is that they can sustain their identities and do not merge completely with each other. On mixing, the materials create a hybrid material that has better structural properties, which can be used for aerospace components. Composite materials used in aerospace industry consist of fiberglass, carbon fiber, and fiber-reinforced matrix systems or any combination of these materials. Aerospace composites are used in various aircraft frames, such as wings, aircraft interiors, and fuselage as these can sustain extreme operating conditions, including high temperature, high stress, shocks, and impact loads.

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The global aerospace composites market is expected to grow at a CAGR of over 9%, during the forecast period from 2017 to 2023.

Key Players

The key players for the global aerospace composites market are Owen Corning (U.S.), Solvay Group (Belgium), Teijin Limited (Japan), Royal Ten Cate (Netherlands), Toray Industries, Ltd. (Japan), Hexcel Corporation (U.S.), SGL Group (Germany), Kaman(U.S.), Koninklijke Ten Cate BV (Netherlands), and General Electric (U.S.).

Materials used in aircraft interior parts and components must have low flammability to withstand smoke and toxic gasses released during exposure to fire. The material should also be easy to process for high volume production, due to the need for high volume of parts for aircraft interiors. Many aircraft manufacturers and component OEMs are using composites for various aircraft interiors and components. For example, the aircraft seat manufacturers use the composites to reduce the seat weight. Also, in 2014, the composites accounted for about 25% of the aircraft interior component weight. As a result, it is expected that the usage of composites is expected to witness a surge by over 40%, in the forthcoming 10 years.

Intended Audience

Distributor & Supplier Companies
End-Users
Consultants and Investment Bankers
Government as well as Independent Regulatory Authorities

Regional Analysis

According to the analysis, at present, North America is the biggest market for aerospace composites across the globe. In addition, the market for aerospace composites in the North American region is likely to grow at the highest CAGR, during the forecast period, with respect to both volume and market value.

Growth of the North American aerospace composites market is mainly due to the presence of mass manufacturers of aerospace parts in the region. Due to the increased requirement of carbon fiber composites, most of the companies are focusing on setting up their carbon fiber composites manufacturing plants, in North America and Europe.

In Europe, the aerospace composites market is driving the aviation industry, the competition from high-speed trains, and other means of travel. In the past few years, a sudden rise in air passenger traffic and evolving global aircraft leaders in Asia Pacific have increased the growth of the aerospace composites market for this region.

In Latin America, the market is expected to have a strong growth due to the increased number of low-cost carriers and rising demand from Brazil. The presence of one of the dominant aircraft competitors, Embraer, will also enhance the market expansion in the region.

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