03-15-2019 11:04 AM CET - Advertising, Media Consulting, Marketing Research
Print

Opportunities in the Indian Aerospace Composites Market in Aerospace industry is likely to reach a value of US$ 302.5 million in 2023. – Stratview Research Market Report

Press release from: Stratview Research

The research studies Opportunities in the Indian Aerospace Composites Market in the trend period of 2012 to 2017 and forecasted period of 2018 to 2023 under given segments - by Opportunity Type (Export Opportunities and Indigenous Opportunities), by Aircraft Type (Civil Aviation, Military Aviation, and Space), by Resin Type (Epoxy Composites, Phenolic Composites, and Others), by Fiber Type (Carbon Fiber Composites, Glass Fiber Composites, and Aramid Fiber Composites), by Application Type (Exterior and Interior), and by Process Type (Hand Layup and Others), Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
The study finds –
 Carbon fiber composites are likely to remain the most dominant and fastest-growing fiber type segment of the market during the forecast period.
 The market is also segmented into epoxy composites, phenolic composites, and other composites. Most of the aerospace composite components are fabricated using epoxy resin not only in India but also in the global market.
 The Indian aerospace composites market is segmented into exterior and interior. The exterior segment is likely to remain dominant in the market during the forecast period.
 Civil aviation and military aviation are likely to remain the growth engines of the market in the foreseeable future.

Click here to read the detailed description: www.stratviewresearch.com/388/Indian-Aerospace-Composites...

Go through the TOC: www.stratviewresearch.com/toc/388/Indian-Aerospace-Compos...

Indian Aerospace Composites Market: Highlights

The next five years for the Indian aerospace composites market are going to be extremely vigorous with significant growth opportunities in both indigenous as well as export market. It is estimated that the market for aerospace composites in India including export potential is likely to reach a value of US$ 302.5 million in 2023. Currently, the market is relatively very small with the presence of a few local players, which possess good composite capabilities. However, it is expected that the Indian market is likely to evolve rapidly in terms of both demand as well as technology in order to cater to the huge indigenous demand for commercial as well as military aircraft.

Request a Sample here:- www.stratviewresearch.com/Request-Sample/388/Indian-Aeros...

Increasing defense budget coupled with the offset policy, increasing penetration of composites in the next-generation aircraft programs, increasing production rate of Light Combat Aircraft (LCA), increasing export opportunities for aerospace composites, make in India campaign, and availability of low-cost skilled manpower in India are some of the major factors proliferating the demand for composites in the Indian aerospace industry.

Increasing defense budget coupled with strong procurement plans of military and commercial aircraft are stimulating the global players to either open their branches or form JVs or partnerships with local companies in order to fulfill the offset obligation imposed by the Indian government. Major Indian conglomerates are eyeing this market and are forming strategic alliances with the global companies to develop defense capabilities targeting the growing indeginous market as well as export potential. On contrary, the excellent growth of the Indian aerospace industry is catching the interest of many global players.

Various leading global players are targeting India as their new revenue pocket and are eagerly eyeing various defense projects in the country. For instance, Airbus Group, which is sourcing composites from more than 45 Indian suppliers, has sourced about US$ 550 million of parts in the year 2017 and is actively looking for tie-ups with Indian companies to set-up base for composite parts manufacturing in India. Adani Group is one of the leading companies that has announced to set-up carbon composites aerostructure facility in India to cater to the OEMs, like Airbus Group.

As per Airbus Outlook 2018-2037, India may demand nearly 1,750 commercial aircraft worth US$ 255 billion from 2018-2037. In terms of air passenger traffic, India is one of the fastest-growing markets worldwide and is likely to mark more than 8% annual growth rate in the coming years. This, in turn, will make India the 3rd largest aviation market by 2019-2020.
Composite materials have a proven journey in the aerospace industry and are gradually becoming the materials of choice for the construction of critical aircraft components globally.

The penetration of composites would not cede here and is likely to increase further with the development of new composite products to address changing customer demands with evolving trends, rapid transformations in technologies, and intense market competition. This will correspond to an attractive growth opportunity for both existing as well as new players.

Another factor contributing to the growth of the market is the initiatives taken by the Indian government, such as Make in India, to promote the manufacturing industry by attracting investments from the global companies.
However, the road for growth is not as lucrative as it seems. The industry stakeholders have to efficiently eliminate the existing bottlenecks in order to reap the benefits in a profitable manner. For instance, the Indian aerospace industry currently lacks the presence of a large number of composite part molders that have the good capabilities to fabricate composite parts using advanced manufacturing processes. There is an immense requirement of such players that bring good composite technological capability in India and augment the overall composite capabilities for the Indian aerospace industry.

The Indian aerospace composites market is segmented based on the aircraft type as civil aviation, military aviation, and spacecraft. Civil aviation and military aviation are likely to remain the growth engines of the market in the foreseeable future. Majority of the demand for composite parts for the commercial aviation segment is mainly coming from the global market, whereas there is an impressive indigenous demand for composite parts in the military aviation segment.

Based on the application type, the Indian aerospace composites market is segmented into exterior and interior. The exterior segment is likely to remain dominant in the market during the forecast period. Composites are increasingly used in aircraft exterior with the purpose to leverage the potential of composites including lightweight, corrosion resistance, and abrasion resistance.

Based on the resin type, the market is also segmented into epoxy composites, phenolic composites, and other composites. Most of the aerospace composite components are fabricated using epoxy resin not only in India but also in the global market. Phenolic composites are well known for their excellent FST-resistant properties and are preferred choice for interior applications.

Based on the fiber type, the market is segmented into carbon fiber composites, glass fiber composites, and aramid fiber composites. Carbon fiber composites are likely to remain the most dominant and fastest-growing fiber type segment of the market during the forecast period. Lightweight coupled with high-performance benefits over rivalry materials has led to a massive adoption of carbon fiber composites in the aerospace industry.

The Indian aerospace composites market is fiercely competitive with the presence of a few active players at present. It is anticipated that the excellent growth of the market may attract global players to enter the Indian market in the near future to capture a larger chunk of the growing market.

Furthermore, it is also expected that the existing players may develop better technological capabilities in the coming time to remain competitive in the long run.

Some of the key players in the aerospace composites market in India are Tata Group, Hindustan Aeronautics Ltd. (HAL), Kineco Kaman Composites - India Private Ltd., Valeth High Tech Composites Pvt Ltd, Taneja Aerospace and Aviation Limited, and Adani Defense and Aerospace Group. Execution of joint ventures and partnership and development of new composite applications are the key strategies adopted by the major players in the Indian aerospace composites market.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum input to the entire value chain of BMI Prepreg. The key features of the report are -
 Market structure: Overview, industry life cycle analysis, supply chain analysis
 Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
 Market trend and forecast analysis
 Market segment trend and forecast
 Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
 Attractive market segments and associated growth opportunities
 Emerging trends
 Strategic growth opportunities for the existing and new players
 Key success factors.

Stratview follows a rigorous process for conducting business research from primary and secondary sources to understand the entire market ecosystem. It has several high value market reports in the Aerospace & defence industry. Please refer to the following link to browse through the reports:

Click Here for Other Reports from Stratview Research in the Aerospace & Defence Industry: www.stratviewresearch.com/market-reports/Aerospace-Defens...

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.
News-ID: 1656627 • Views: 232
More releasesMore releases

You can edit or delete your press release here: