Aerospace Composites Market 2018 expected to grow at a CAGR of above 9% | Industry Key Players: Owen Corning, Hexcel Corporation, Royal Ten Cate, Toray Industries, Koninklijke Ten Cate BV, Kaman

Aerospace Composites Market Report Information by Type (Glass Fiber, Carbon Fiber, Aramid Fiber, and Others), by Applications (Commercial and Military), and by Region - Forecast to 2023.

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

Major Key Players
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.).

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.

The Middle East & Africa is also likely to have significant growth due to the presence of aircraft competitors and growing number of maintenance, repair, and operational activities of aircraft in the region. Similarly, Central Europe and Russia would have high growth rates for the aerospace composites market, during the forecast period.

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

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This release was published on openPR.