Aerospace Composites Market is Forecasted to Reach US$ 57.11 Billion in 2028, Says Stratview Research

The global aerospace composites market is projected to witness a growth rate of 11.7% annually from 2023 to 2028, with an anticipated size of US$ 57.11 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global aerospace composites market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 57.11 billion
Growth (CAGR): 11.7% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 6
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Aerospace Composites Market:

The global aerospace composites market is segmented based on fiber type, resin type, aircraft type, manufacturing process type, application type, and region.

Based on fiber type - The carbon fiber segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. The increasing demand for carbon fiber in the aerospace & defense industry is driving the growth of this segment. Carbon fiber possesses various properties such as high inherent strength, lightweight, and weather resistance, and offers a variety of surface textures.

Based on aircraft type - The commercial aircraft segment dominates the market, as the latest aircraft program, A350XWB, uses a significantly larger amount of aerospace composite material, compared to older aircraft programs, which use only 2-5% of the material. Further, various factors such as high corrosion resistance, low maintenance cost, and lightweight are fueling the growth of the segment during the forecast period.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/858/aerospace-composites-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is estimated to be the largest as well as the fastest-growing market during the forecast period. This growth outlook is majorly attributed to the following-

• The growth of the market is driven by the increasing usage of composite material in commercial and military aircraft.
• Further, the presence of a large number of aircraft manufacturers and mass production of aerospace parts using aerospace composites are bolstering the growth of the market in the North American region.
• Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.

Aerospace Composites Market Drivers:

Some of the key drivers listed in the report are given below.
• Growth in commercial aviation: The growth of the commercial aviation industry is a major driver of demand for aerospace composites. As air travel continues to increase, airlines are investing in new aircraft that utilize more composites to improve fuel efficiency and reduce maintenance costs.

• Increased demand for military aircraft: The increased demand for military aircraft is also driving the demand for aerospace composites. Military aircraft require high-performance materials that can withstand harsh conditions, and composites are well-suited for these applications.

• Growing demand for unmanned aerial vehicles (UAVs): The growing demand for UAVs, also known as drones, is also driving the demand for aerospace composites. UAVs are increasingly being used for a variety of applications, including military reconnaissance, commercial surveillance, and agriculture.

• Technological advancements: Technological advancements in composite materials and manufacturing processes are making it possible to produce more affordable and high-performance aerospace composites. This is further driving the adoption of composites in the aerospace industry.

Top Companies in the Aerospace Composites Market:

Stratview Research has identified the following companies as the top market players.
• Owen Corning
• Solvay S.A.
• Hexcel Corporation
• Royal Tencate N.V.
• Teijin Limited
• Toray Industries Inc.
• SGL Group-The Carbon Company
• Materion Corporation
• Mitsubishi Rayon Co. Ltd.
• Renegade Materials Corporation

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Aerospace Composites Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Metal Matrix Composite Market: https://www.stratviewresearch.com/798/metal-matrix-composite-market.html
• Carbon Fiber Market: https://www.stratviewresearch.com/3032/carbon-fiber-market.html

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About Us:
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.