Aerospace Composites Market 2020: Global Segments, Recent Trends, Sales Revenue, Competitive Landscape and Top Key Players Embraer, Saab, GE Aviation, Rolls-Royce, Boeing, Airbus, Bombardier, Lockheed Martin Analysis by Forecast to 2024

Aerospace composites market is anticipated to be driven by growing demand from defense sector and commercial aircrafts owing to superior product properties. Increase in air passenger traffic along with expansion of the aerospace industry will impact the market growth over 2016-2024. Moreover, the aerospace industry is striving to reduce its environmental footprint and achieve light weighting in aerospace components, which is further favoring the usage of composites.

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Rising government spending in aerospace industry is estimated to create a favorable environment for the industry expansion. Moreover, increased budgets allocation on aerospace sector in various economies across the world is likely to foster aerospace composites market growth. As per estimates, global aerospace composites demand will exceed 70 kilo tons by 2024.

Commercial aircrafts segment is estimated to hold over 50% of aerospace composites market share over the analysis period. Extensive utilization of composites, primarily carbon fibers in aircraft interiors is positively impacting business outlook.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. The Boeing Company
2. Airbus
3. Bombardier
4. Lockheed Martin
5. Embraer
6. Saab Group
7. GE Aviation
8. Bell Helicopter
9. Honeywell Aerospace
10. Rolls-Royce
11. Solvay
12. SGL Group
13. Lee Aerospace
14. BASF
15. Hexcel

Rising expenditure in defense sector across major economies of the world will further generate demand for military aircrafts, hence fostering aerospace composites market size. For instance, Indian military aviation sector is estimated to invest close to USD 35 billion over the next two decades.

Carbon fiber composites are likely to contribute around 75% to global revenue. These composites experience high demand owing to advantageous product attributes, such as high temperature resistance, fatigue strength, enhanced finishing, and corrosion & solvent resistance. Expansive utilization of carbon fibers in aircrafts is likely to lead to generation of over 52 thousand tons of composites by 2024.

North America aerospace composites market is forecast to hold over 40% revenue in the overall market share and exceed the revenue mark of USD 2 billion by the end of the analysis period. Constant deterioration or ageing of aircrafts is creating massive demand for new aircrafts across the region, which will positively impact aerospace composites industry growth over the coming years. Moreover, high consumer spending on air travels paired with heavy investments in defense sector is estimated to offer lucrative growth potential for North America market over the forecast timespan.

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Extensive usage of carbon fiber and growing focus towards commercialization of aircrafts are the key trends followed by prominent industry participants, which is augmenting aerospace composites market growth. For instance, Boeing and Airbus are focused upon commercialization of advanced passenger airplanes and are widely utilizing carbon fibers in their aircraft structures.

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