Global Aerospace Composites Market Projected to Surpass $70.55 Billion by 2029 with 14.2% Annual Growth

What combination of drivers is leading to accelerated growth in the aerospace composites market?
The aerospace composites market is projected to be driven by the surging demand for strong, lightweight composite materials. The use of such materials can enhance energy efficiency and minimize fuel consumption by lessening the aircraft's weight, which in turn reduces the necessary lift force and thrust during flight. Benefits of a lightweight design include a decrease in carbon emissions, enhanced structural strength and rigidity, improvements in flight performance such as increased acceleration, and improved safety measures. For example, Composites United e.V. Germany, a non-profit consortium, reported in May 2023 that the global composites industry's volume in 2022 was 12.7 million metric tons, showing an increase from 2021. Consequently, the rising utilization of lightweight materials is contributing favorably to the growth of the aerospace composites market.

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What is the projected compound annual growth rate (CAGR) of the aerospace composites market from 2025 to 2034, and what factors influence it?
In recent times, the aerospace composites market has experienced substantial growth. The market value, which stands at $35.59 billion in 2024, is projected to escalate to $41.45 billion in 2025, growing at a compound annual growth rate (CAGR) of 16.5%. This remarkable growth during the historical period can be attributed to several factors such as regulatory modifications, environmental worries, the global reach of the market, the aging aircraft fleet, and the increase in the number of commercial and defense aircraft.

The market size of aerospace composites is anticipated to experience quick expansion in the coming years. The market valuation is projected to touch $70.55 billion by 2029, growing at a compound annual growth rate (CAGR) of 14.2%. This growth during the forecast period can be credited to factors such as economic development, modernization of aircraft fleets, initiatives centered on recycling and sustainability, consolidation in the aerospace industry, and an increasing demand for passenger and cargo aircraft production. Key trends expected during this forecast period comprise of digitized twins and simulation, the application of additive manufacturing, engineered fiber structures, green and environmentally friendly composites, and progression in composite materials.

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How are the latest trends influencing the growth of the aerospace composites market?
Technological progression is at the forefront of the aerospace composites market, especially in the development of composite material and process technologies for MRO structural film adhesive. This adhesive is a highly resilient substance used to bond parts together during maintenance and repair, especially within the aerospace industry. For example, Park Aerospace Corp, a U.S. based company, launched Aeroadhere FAE-350-1 in July 2023. It's an advanced structural film adhesive made specifically for use in aerospace maintenance, repair and overhaul (MRO) situations. This epoxy-based adhesive, which cures at 350°F, is designed to bond composite, metal, and honeycomb materials exceptionally well. With attributes such as robust temperature resistance, adaptability in a variety of bonding applications, and long shelf life, Aeroadhere FAE-350-1 targets to fulfil the stringent requirements of the aerospace industry. It is produced at Park's newly expanded AS9100 and Nadcap-certified facility and is expected to increase the durability and efficacy of aerospace structures.

What are the major segments of the aerospace composites market and their role in driving growth?
The aerospace composites market covered in this report is segmented -

1) By Fiber Type: Carbon Fiber Composites, Ceramic Fiber Composites, Glass Fiber Composites, Others
2) By Aircraft Type: Commercial Aircraft, Business & General Aviation, Civil Helicopter, Military Aircraft, Others
3) By Manufacturing Process: AFP/ATL, Lay-Up Process, Resin Transfer Molding Process, Filament Winding Process, Others
4) By Resin Type: Benzoxazine, Cyanate Ester, Bismaleimide, Ceramic and Metal Matrix, Thermosetting Resins, Polyester, Others
5) By Application: Interior, Exterior

Subsegments:
1) By Carbon Fiber Composites: Continuous Carbon Fiber Composites, Short Carbon Fiber Composites, Carbon Fiber Reinforced Polymers (CFRP)
2) By Ceramic Fiber Composites: Oxide Ceramic Composites, Non-Oxide Ceramic Composites, Ceramic Matrix Composites (CMC)
3) By Glass Fiber Composites: E-glass Fiber Composites, S-glass Fiber Composites, Glass Fiber Reinforced Plastics (GFRP)
4) By Others: Aramid Fiber Composites, Natural Fiber Composites, Hybrid Fiber Composites, Specialty Fiber Composites

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Which regions are key players in the growth of the aerospace composites market?
North America was the largest region in the aerospace composites market in 2024. Asia-Pacific is expected to be the fastest-growing region in the aerospace composites market share during the forecast period. The regions covered in the aerospace composites market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the key firms paving the way for growth in the aerospace composites market?
Major companies operating in the aerospace composites market include Solvay SA, Toray Industries Inc., Mitsubishi Chemical Holdings Corporation, Hexcel Corporation, Teijin Limited, SGL Carbon SE, Materion Corporation, Owens Corning, Spirit AeroSystems Inc., LEE Aerospace Inc., Gurit Holding AG, General Electric Corporation, Rolls-Royce Motor Cars Ltd., Kineco-Kaman Composites, Nippon Graphite Fiber Corporation, Lockheed Martin Corporation, Raytheon Technologies Corporation, The Boeing Company, Airbus SE, Northrop Grumman Corporation, Safran SA, Leonardo S.p.A., Honeywell International Inc., L3Harris Technologies Inc., Dassault Aviation SA, Arconic Corporation, Aviation Industry Corporation of China, Triumph Group Inc., Harris Corporation

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What Is Covered In The Aerospace Composites Global Market Report?

•Market Size Forecast: Examine the aerospace composites market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the aerospace composites market for a structured understanding.
•Key Players Overview: Analyze major players in the aerospace composites market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the aerospace composites market.
•Segment Contributions: Evaluate how different segments drive overall growth in the aerospace composites market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the aerospace composites market.
•Industry Challenges: Identify potential risks and obstacles affecting the aerospace composites market.
•Competitive Landscape: Review strategic developments in the aerospace composites market, including expansions, agreements, and new product launches.

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