Aerospace & Defense Thermoplastic Composites Market is Forecasted to Reach US$ 870 million in 2030, Says Stratview Research

The global aerospace & defense thermoplastic composites market is projected to witness a growth rate of 14.8% annually from 2024 to 2030, with an anticipated size of US$ 870 million by 2030, according to an analysis by Stratview Research.

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

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Report Highlights:
Market Size in 2030: US$ 870 million
Growth (CAGR): 14.8% during 2024-2030
Forecast Period: 2024-2030
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 6
Number of Tables & Graphs: 100+

Segment Insights on the Aerospace & Defense Thermoplastic Composites Market:
The global aerospace & defense thermoplastic composites market is segmented based on aircraft type, resin type, application type, fiber type, consolidation type, and region.

Based on aircraft type - The A&D thermoplastic composites market is segmented into commercial aircraft, general aviation, military aircraft, and others. Commercial aircraft are expected to remain dominant as well as the fastest-growing aircraft type in the market during the forecast period. On the B787 aircraft, thermoplastic composites are used to provide localized reinforcement between some of the fuselage frames, in the form of shear webs (about 150 per aircraft). On average, about 8,000 clips are used in an A350XWB aircraft, whereas there are 10,000 to 15,000 such clips and cleats in a B787 aircraft. Both Airbus and Boeing aircraft have undergone a massive transformation in their aircraft material mix over the years. The latest aircraft have ≥50% composites. They are used on the fuselage, wings, and stabilizers, making the aircraft incredibly strong and yet much lighter. Over the years, Airbus has progressively used thermoplastic materials and welding on structural applications on several aircraft: A340, A380, A350, and military applications.

Based on the resin type - The market is segmented into PPS-based composites, PEEK-based composites, PEI-based composites, and other composites. PEEK-based composites are expected to remain the dominant and fastest-growing resin of the market during 2024-2030. PEEK composites offer an exceptional combination of benefits aiding aerospace OEMs, designers, and processors to attain cost savings, quality, and performance. They help lower weight, improve buy-to-fly ratios, and provide design freedom to optimize the design. PEEK is often used with carbon fiber to fabricate clips, cleats, brackets, clamps, and connectors. Clean Sky 2's OUTCOME project has tested and validated a sustainable manufacturing process for producing a stiffened thermoplastic composite upper skin for the external wing box of Airbus C-295 aircraft.

Based on the application type - For airframe, PPS resin is the most widely used resin and carbon fiber is the most widely used reinforcement, whereas; for interior PEI and glass fiber are the preferred resin and reinforcement types, respectively. Airframe is expected to remain the most attractive application of the market by 2030. Key application areas in the airframe segment are clips, cleats, leading edges, panels for the fuselage, shear webs, stringers, ribs, rudders, and elevators. There is also growing interest in thermoplastic composites in interiors with floor panels, brackets, profiles, and seat backs being key applications. Ardent efforts toward leveraging the full potential of thermoplastic composites for structural applications are likely to give a thrust to the segment's growth. In 2020, Victrex Collaborated with Daher to produce a 176-ply laminate structural aircraft panel, a thickness of 32 mm. utilizing VICTREX AETM 250 LMPAEK composite. This may offer key advantages for the industry in primary structural applications.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Europe is anticipated to remain at the forefront throughout the forecast period, whereas North America is likely to grow at the highest rate by 2030. This growth outlook is majorly attributed to the following-
- Europe to hold its unassailable lead in the coming years (56.1% share, value basis, in 2023).
- Airbus surpassed Boeing in terms of deliveries, winning the deliveries crown for the fifth consecutive year.
- This ultimately fuels the European market. Key players: GKN Aerospace (Fokker Aerostructure), Premium Aerotec, Daher, and Dutch Thermoplastic Composites (now part of Collins Aerospace).
- The A350XWB is using a huge amount of thermoplastic composite parts, mainly in the fuselage.
- The increase in the footprint of European players in the USA is driving North America's market.
- Daher is making its presence by developing a relationship with Gulfstream Aerospace for supplying thermoplastic parts for the wing and fuselage for some of the programs.

Aerospace & Defense Thermoplastic Composites Market Drivers:

Some of the key drivers listed in the report are given below.
- Increasing demand for weight reduction to improve fuel economy and reduction in carbon emissions in the aerospace industry.
- Increasing penetration of composites in modern aircraft programs.
- Low processing cost coupled with the advantage of recyclability of thermoplastic composites over thermoset composites.

Top Companies in the Aerospace & Defense Thermoplastic Composites Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• GKN Aerospace
• Premium AEROTEC GmbH
• Daher
• Collins Aerospace
• Avanco Group

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Aerospace & Defense Thermoplastic 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?

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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.