During The Forecasted Period, The Aeroengine Composites Market Is Expected To Expand Globally At A CAGR Of 12.6% || Solvay SA, Meggitt PLC, Hexcel Corporation, Albany Engineered Composites Inc

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Aeroengine Composites Market Size, Growth Rate, And Forecast

The global aeroengine composites market size grew from $1.81 billion in 2022 to $2.01 billion in 2023 at a compound annual growth rate (CAGR) of 11.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aeroengine composites market size is expected to grow to $3.23 billion in 2027 at a CAGR of 12.6%.

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Aeroengine Composites Market Drivers

The constant demand for low-fuel engines is expected to propel the growth of the aero-engine composites market. The aircraft engines with low fuel consumption will not only reduce carbon dioxide emissions but also reduce the operational costs of airline companies. The growing demand for oil across the globe and dwindling reserves are responsible for the increase in oil prices which triggers the need for fuel-efficient engines. Using less fuel through improved fuel efficiency helps in saving a considerable amount of money for the airlines. The use of aero-engine composites will reduce the overall weight of the aircraft and improve its fuel efficiency. For instance, The International Air Transport Association (IATA), a trade association that supports the aviation industry across the globe for airline security, safety, sustainability, and efficiency, adopted a set of ambitious targets to reduce 50% carbon dioxide emissions in net aviation by 2050. Therefore, the demand for low-fuel engines is driving the growth of the aero-engine composites market.

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Aeroengine Composites Market Segments

• By Type: Polymer Matrix Composites, Ceramic Matrix Composites, Metal Matrix Composites

• By Component: Fan Blades, Fan Case, Guide Vanes, Shrouds, Other Components

• By Application: Commercial Aircraft, Military Aircraft, General Aviation Aircraft

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the aeroengine composites market .

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Aeroengine Composites Market Key Players
Major competitors in the aeroengine composites market are Solvay SA, Meggitt PLC, Hexcel Corporation, Albany Engineered Composites Inc., FACC AG, General Dynamics Corporation, E.I. DuPont de Nemours, LMI Aerospace, BASF SE.

The Business Research Company's "Global Aeroengine Composites Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.

The Table Of Content For The Aeroengine Composites Market Include:
1. Executive Summary
2. Aeroengine Composites Market Characteristics
3. Aeroengine Composites Market Trends And Strategies
4. Aeroengine Composites Market - Macro Economic Scenario
5. Aeroengine Composites Market Size And Growth
………………
27. Aeroengine Composites Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Aeroengine Composites Market
29. Aeroengine Composites Market Future Outlook and Potential Analysis
30. Appendix

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