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Composite Repair Market worth $34.2 billion by 2028 | Key players Lufthansa Technik AG (Germany), Air France KLM E&M (France), and HAECO (U.S.), UpWind Solution (U.S.).

12-06-2023 03:59 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets

Composite Repair Market worth $34.2 billion by 2028 | Key players

According to recent market research the "Composite Repair Market by Type (Structural, Semi-Structural, Cosmetic), Process (Hand Lay-Up, Vacuum Infusion, Autoclave), End-Use Industry (Aerospace & Defense, Wind Energy, Automotive & Transportation, Marine), and Region - Global Forecast to 2028", is estimated at USD 18.6 billion in 2023 and is projected to reach USD 34.2 billion by 2028, at a CAGR of 13.0% from 2023 to 2028. The increasing use of composite repair in the aerospace & defense industry is one of the most significant factors projected to drive the growth of the composite repair market.

Browse 152 market data Tables and 54 Figures spread through 191 Pages and in-depth TOC on "Composite Repair Market - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/composite-repair-market-239819765.html

Structural repair is conducted if the damage has weakened the structure due to fiber fracture, delamination, or disbonding. This repair involves the replacement of the damaged fiber reinforcement, and core in sandwich structures, to restore the original mechanical properties. This repair restores full structural properties by forming a joint between the prepared repair area and the repair patch. Mostly, structural repair is done on parts of aerospace, boat, construction, and many others where part replacement is difficult and expensive.

Hand lay-up is an open molding method suitable for repairing a wide variety of composite structures, including boats, tanks, bath-ware, housing, transportation components, and architectural products. Gel coat is first applied to the mold using a spray gun for a high-quality surface. When the gel coat has cured sufficiently, roll stock fiberglass reinforcement is manually placed on the mold. Then, resins are impregnated by hand into fibers, which are in the form of woven, knitted, stitched, or bonded fabrics. The laminating resin is applied by pouring, brushing, spraying, or using a paint roller. Subsequent layers of fiberglass reinforcement are added to build laminate thickness. It is the simplest method offering low-cost tooling, simple processing, and a wide range of part sizes. Hand lay-up technique is also used in the standard wind turbine blades, boat hulls, decks, and architectural molding. This process is also used for repairing marine composite structures.

The use of composites is most widespread in aerospace & defense and hence there is a need of composite repair in case of damage due to lightning and collision with bird or some object. The use of composites in aerospace is increasing over the years to make it lighter, faster, and more fuel efficient. The new commercial passenger aircrafts such as Boeing 787 and Airbus A350 constitute more than 50% composites in their airframe structures. In addition, the aviation giants as well as aerospace organizations such as SpaceX and National Aeronautics and Space Administration (NASA) are using composites due to their high stiffness-to-weight ratio and resistance to fatigue and corrosion.

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Asia Pacific is expected to be the largest market for composite repairs. This is due to the growth of aerospace, wind energy, and automotive industries in the region, owing to availability of low-cost labor, and infrastructure development in this region. As the regions, economy is still in the developing stage, the expenditures made towards aerospace part manufacturing, and MRO is strategically important by the governments in the region. This coupled with huge investments made towards generation of cleaner energy, especially wind energy will play an important role in composite repair market. With the spending capacity of the population in the region increasing significantly over the years, the sales of personal vehicles in the region has seen a tremendous growth. This has led the automotive manufacturers to offer several cosmetic differences to stand out in the increasingly competitive market to attract customers. This will also have a significant effect over the composite repair market.

Some of the key players in the global composite repair market are such as Lufthansa Technik AG (Germany), Air France KLM E&M (France), and HAECO (U.S.), UpWind Solution (U.S.), Total Wind Group A/S (Denmark), and Technical Wind Services (Scotland), Citadel Technologies (U.S.), Milliken Infrastructure (U.S.), and T.D. Williamson (U.S.), West Systems (U.S.) and WR composites (U.K.), Fibrwraps (U.S.) and Concrete Repairs Ltd. (U.K.).

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=239819765

Lufthansa Technik (LHT), AG. is one the subsidiaries of Deutsche Lufthansa Group established in 1995, headquartered in Hamburg, Germany. Having experience of almost 20 years in MRO for commercial aircrafts using composite components, Lufthansa positioned itself very well in the composite repairs market. Lufthansa has also invested considerably in autoclave and automated processes and innovative repair technology to meet the increasing demand of MRO for airframe related components, Lufthanasa has expanded itself by providing ARC services in Tulsa (U.S.), Hamburg (Germany), and Shenzhen (China).

Hong Kong Aircraft Engineering Company Limited (HAECO) was established in November 1950 at Hong Kong. Its headquarters is located at Lantau Islands, Hong Kong. Among all its subsidiaries, Taikoo Spirit AeroSystems (Jinjiang), China provides services of repairs and overhauling of composite structures, formed in 2009 because of joint venture of HAECO and Spirit AeroSystems. With a self-sufficient facility, Taikoo Spirit is the largest supplier of aircraft components located in Asia.

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