The Market of Aerospace Prepreg to grow beyond US$ 4.9 billion by 2024

The new report of Stratview Research analyses the Aerospace Prepreg market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.

Salient Features of the Report

The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
• Strategic segmentation
• Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Detailed Competitive Rivalry landscaping
• Market trend and forecast analysis
• Future Growth Boulevards

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An overview of the prepreg market

The prepreg market is expected to grow at a healthy rate over the next five years to reach an estimated value of US$ 4.9 billion in 2024. Currently, aerospace alone accounts for more than 70% of the total prepreg market and it is expected to gain further share in the years to come, propelled by an incessant increase in the penetration of composites in the upcoming aircraft programs with prepreg being the material of choice.

Composite materials have been witnessing the most disruptive journey especially in the aerospace & defense industry where the penetration of advanced composites has reached up to 53% of the total structural weight of the next-generation aircraft programs, such as A350XWB and B787, in order to make the aircraft lightweight yet durable with an ultimate aim to enhance fuel efficiency. Prepreg is an intermediate material and is one of the most common forms of composite materials in which the reinforcement material is pre-impregnated with either thermoplastic or thermoset resin system in a predefined ratio. It is one of the most preferred materials used for fabricating different parts and components in the aerospace industry as it enables consistent resin/matrix ratio in the finished product, thus delivering uniform mechanical and physical properties throughout the final part or component.

Commercial aircraft: The growth engine

The market is segmented based on the platform type as commercial aircraft, military aircraft, general aviation, spacecraft, UAVs, and regional aircraft. Commercial aircraft is expected to remain the largest and fastest-growing segment of the market during the forecast period. Increasing production rates of key programs, such as B787, and A350XWB supported by an incessant increase in the demand for fuel-efficient aircraft; market entry of new players, such as COMAC and Irkut; introduction of variants of existing best-selling aircraft programs, such as B737 max, A320neo, and B777X; and rising commercial aircraft fleet across regions are the key factors propelling the demand for prepregs in the commercial aircraft segment.

Dominance of: Epoxy prepreg and Autoclave

Based on resin type, the market is segmented as epoxy, polyimide (PI), bismaleimide (BMI), polyphenylene sulfide (PPS), cyanate ester, polyether ether ketone (PEEK), polyetherimide (PEI), and others. Epoxy prepreg is expected to remain the most widely used resin system in the market during the forecast period. Epoxy resins bond well with reinforcement materials, such as carbon fiber and glass fiber. Further, they also offer excellent interlaminar strength and mechanical properties, good chemical resistance, and high electrical insulation, which make them a preferred resin system for a wide array of applications including fuselage, wings, control surfaces, as well as interior applications.

Based on the curing type, the market is segmented as autoclave, out of the autoclave, and others. Autoclave is expected to remain the largest segment of the market during the forecast period. Autoclave curing have decades of excellent track record in the aerospace composites market and is projected to remain one of the most vital curing systems in the aerospace industry. Autoclave curing leads to an excellent surface finish with low void content as well as high pressure ensures good mechanical properties, which make it the most preferred curing process.

A highly/moderately/fragment consolidated Market

The key players in the aerospace prepreg market are Hexcel Corporation, Cytec Solvay Group, Toray Industries, Teijin Group, and Gurit Holdings, AG. Execution of mergers & acquisitions, development of new applications, advancements in prepregs are the key strategies adopted by the major players to gain a competitive edge in the market.

Regional Hegemony of North America

In terms of regions, North America is expected to remain the largest market for aerospace prepreg during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, raw material suppliers, and part fabricators. Most of the major prepreg manufacturers have their presence in the region to address the emergent needs of the OEMs in order to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.

Asia-Pacific is likely to witness the highest growth during the same period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic; the opening of assembly plants of Boeing and Airbus in China for B737, A320 and A330 aircraft programs; upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ); rising aircraft fleet size and increasing military spending by countries such as China and India.

Comprehensive Market Coverage

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

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This release was published on openPR.