Aircraft AFP/ATL Composites Market Worth US$ 4,005.1 million in 2024

Stratview Research has published a new research report on Aircraft AFP/ATL Composites Marke. This extensive 255-page report by Stratview Research analyses the growth of Aircraft AFP/ATL Composites Market over the trend period of 2013 to 2018 and forecast period of 2019 to 2024 under the following segments -
● by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, and Others)
● by Application Type (Airframe, Flight Control Surfaces, and Others)
● by Fiber Type (Glass Fiber Composites, Carbon Fiber Composites and Others).
● by Automation Type (Automated Fiber Placement and Automated Tape Layup)
● and by Region (North America, Europe, Asia-Pacific, and RoW)

Go through the detailed scope: https://www.stratviewresearch.com/toc/442/Aircraft-AFP-ATL-Composites-Market.html

Or

Get a free sample of the report: https://www.stratviewresearch.com/Request-Sample/442/Aircraft-AFP-ATL-Composites-Market.html

Success story of aerospace composites

Composite materials have earned a reputed image in the aerospace industry owing to their excellent track record of more than five decades. Due to such incredible properties of composites compared to other materials, Boeing and Airbus scrupulously started investing in these materials in the critical section of an aircraft including airframe. As a result, the next-generation aircraft: B787 and A350XWB, contain composites in more than 50% of the total structural weight. Composites industry stakeholders are trying to capitalize on the success story of aerospace composites for other industries as well. Several advancements in technologies and materials have gradually been brought in place in order to increase the penetration of composites to such a high level in the next-generation aircraft. Among many advancements, we believe, automation in the layup process is of paramount importance as a skilled technician can only lay up 2.5 lbs. of prepreg manually in an hour, whereas, with the help of AFP/ATL process, prepreg can be laid at more than 50 lbs. per hour.

Best-selling aircraft with a greater composites content

The aircraft AFP/ATL composites market is projected to grow at an impressive rate over the next five years to reach US$ 4,005.1 million in 2024. Increasing production rates of the next-generation composite-rich aircraft A350XWB, B787, and F-35; introduction of fuel-efficient variants of the best-selling aircraft with a greater composites content:, A320neo and B737 max; Increasing preference of AFP/ATL process for fabricating critical aerospace composite parts; superior benefits of AFP/ATL over the hand layup process; and rising demand for faster production of composite parts in order to produce a large number of aircraft to meet huge order backlogs are giving an impetus to the growth of AFP/ATL composites in the aerospace industry.

AFP/ATL process enables companies to develop lightweight components with increased durability and shorter processing time. Additionally, AFP/ATL-based composite components also do not get damaged easily; thus, help aircraft manufacturers as well as tier players to reduce their repair cost. These advantages are bolstering the demand for AFP/ATL composites which are continuously replacing traditional hand laid composite parts or metal-cast and stamped parts.

Strategically been raising the production rates

Airbus and Boeing, the two aircraft industry giants, are enjoying a huge order backlog of their major aircraft platforms. Boeing and Airbus had a combined order backlog of 13,379 commercial aircraft by the August 2018. This huge pile of order backlogs will allow both the airframers to roll out their aircraft continuously for the next nine years at current build rates. However, they have strategically been raising the production rates of their key commercial aircraft programs in order to deliver aircraft to their widespread clients at a shorter period.

This is generating enormous pressure in the supply chain including tier players to develop parts swiftly in order to meet the expectation of OEMs. Here, AFP/ATL proves to be a game-changing technology as it helps laying up prepregs at a very fast rate with excellent dimensional control; helping tier players to develop parts in stipulated time. It is being noted that all the major tier players have been switching towards AFP/ATL process.

Another trend, which will have a mammoth impact on the supply chain of the market is the recent announcement made by Boeing and Airbus about developing major parts in-house. This is likely to draw a significant impact on the business of tier players in the long run. For instance; Boeing’s upcoming wide-body aircraft B777x’s wings spars will be manufactured by Boeing itself.

Wide-body aircraft to remain the growth engines

The aircraft AFP/ATL composites market is segmented based on the aircraft type as Narrow-Body Aircraft, Wide-Body Aircraft, Regional Aircraft, General Aviation, Helicopter, and Military Aircraft. Wide-body aircraft are likely to remain the growth engines of the market during the forecast period. Increasing production rates of the next-generation aircraft programs A350XWB and B787 and increasing penetration of composites in newer variants of aircraft, such as B777x, are driving the wide-body aircraft segment. Military aircraft segment is driven by Lockheed Martin F-35 aircraft whose production rate is also increasing with a target of 160 aircraft per annum by 2023.

Airframe to remain the most dominant segment

Based on the application type, airframe is likely to remain the most dominant segment during the forecast period, whereas engine components are likely to remain the fastest-growing segment in the same period. Increasing composite content in the latest turbofan engines will continue to drive the demand for lightweight AFP/ATL composites in the engine segment in the foreseen future. Similarly, fuselage and wing sections of both next-generation aircraft (B787 and A350XWB) are made using advanced composites fabricated through AFP/ATL process.

Carbon fiber composite is projected to remain the most dominant

Based on the fiber type, carbon fiber composite is projected to remain the most dominant as well as the fastest-growing fiber type market over the next five years. Carbon fiber composite offers numerous advantages, such as high strength-to-weight ratio, high tensile and compressive strength, low coefficient of thermal expansion, and high fatigue resistance at lower weight over counterpart glass fiber composites.

North America to remain the largest market

Based on regions, North America is projected to remain the largest as well as the fastest-growing market during the forecast period, driven by the world’s largest aircraft OEM, Boeing. The USA is likely to remain the growth engine of the region’s market during the forecast period, driven by all the assembly plants of Boeing as well as Lockheed Martin in the country.

Europe is also likely to witness a healthy growth momentum in the coming eons as Airbus, the leading commercial aircraft maker, has incessantly been raising the production rates of A320 and A350XWB. Also, the region has a good capacity of producing helicopters with the presence of Airbus Helicopters and Russian Helicopters. France, Germany, Russia, and the UK are likely to remain the powerhouses of the region’s market in the coming years.

Asia-Pacific currently represents a relatively small growth opportunity; however, is subjected to grow at a handsome rate in the coming years, driven by China, Japan, and India. China and Japan are projected to remain the major markets in the region; however, India is anticipated to be the new growth engine of the region’s market. Major Indian conglomerates are increasingly participating in the market with an aim to get the leadership position in India.

Top market players

The supply chain of this market comprises raw material suppliers, prepreg suppliers, AFP/ATL component manufacturers, tier player, aircraft OEMs, airlines, aircraft leasing companies, and MRO companies. Some of the key players in the aircraft AFP/ATL composites market are Spirit AeroSystems, Premium Aerotech, Kawasaki Heavy Industries, Leonardo S.p.A, Triumph Aerostructures, Mitsubishi Heavy Industries, The Boeing Company, Airbus Group, GKN Aerospace, Bombardier Aerospace, and UTC Aerospace System. The key aircraft OEMs include Boeing, Airbus, Bombardier, Embraer, COMAC, Lockheed Martin, Dassault Aviation, and Gulfstream Aerospace.

Why Stratview Research

Our report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
● Aircraft AFP/ATL Composites Market overview, industry life cycle analysis, supply chain analysis
● Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
● Market trend (2013 – 2018) and forecast analysis (2019-2024) of each segment.
● Competitors’ market share, product portfolio and new launches.
● Growth opportunities in each segment.
● Emerging trends which will decide the future course of development.
● Strategic growth opportunities for the existing and new players
● Key success factors.

Click Here for Other Reports from Stratview Research in the Aerospace & Defence Industry: https://www.stratviewresearch.com/market/report/Aerospace-Defense.html

Stratview Research is a global market intelligence firm offering a wide range of services including syndicated market reports, consulting, sourcing intelligence, and customer research.

400 Renaissance Center,
Suite 2600,
Detroit, Michigan, MI 48243
United States of America
Phone No. +1-313-307-4176
Email-sales@stratviewresearch.com

This release was published on openPR.