Aerospace Composites Market to Reach US$ 98.1 Billion by 2033 Amid Demand for Lightweight and Fuel-Efficient Materials

The global aerospace composites market was valued at $38.0 billion in 2022 and is projected to expand at a CAGR of 9.0%, reaching approximately $98.1 billion by 2033. Aerospace composites are engineered materials made by combining rigid resin matrices with high-strength fibers such as carbon, glass, or ceramics.

These materials offer an exceptional combination of stiffness, strength, toughness, and lightweight properties, making them ideal for modern aircraft construction and performance enhancement.

Composite materials are increasingly critical to aerospace component manufacturing, primarily due to their lightweight nature and superior performance.

With growing environmental concerns and the rising cost of aviation fuel, aircraft manufacturers are turning to high-performance composites to reduce weight and improve fuel efficiency.

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Carbon Fiber Composites Lead the Way

Among the various fiber types, carbon fiber composites dominate the market due to their high tensile strength, high modulus, and low thermal expansion. These properties make them ideal for use in critical aircraft components.

Market Growth Supported by Expanding Aviation Sector

Key factors fueling market expansion include a surge in global air travel, increased tourism, and the emergence of low-cost airlines. The growing demand for fuel-efficient aircraft is further accelerating the adoption of aerospace composites.

Beyond commercial aviation, these advanced materials are also essential in spacecraft, satellites, and payload systems. Their strength and ability to withstand extreme temperatures make them well-suited for use in solid rocket motor reinforcement and high-pressure fuel and gas storage tanks.

Key Market Insights:

1. The aerospace composites market is forecasted to register a 9.0% CAGR through 2033.
2. The industry grew at a rate of 6.5% from 2018 to 2022.
3. Carbon fiber held a market value of US$ 15.2 billion in 2022 under the fiber type segment.
4. North America led the global market in 2022, accounting for 27.1% of the overall share.
5. Demand is projected to grow notably in Europe and East Asia, with expected CAGRs of 9.3% and 8.9%, respectively.

A Fact.MR analyst stated, "The soaring aviation industry is a key driver of global aerospace composites demand, with fuel efficiency and performance remaining top priorities for manufacturers."

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Market Development:

Leading manufacturers of aerospace composites are AeroSystem, Hexcel Corporation, Mitsubishi Chemical Holdings, SGL Group Spirit, Solvay, Teijin Limited, Toray Industries, Inc. and others are strategically integrating forward to enhance their market coverage area and to strengthen their market position.

Manufacturers are investing in research & development and collaborating with the raw material manufacturers to meet the specific requirement of the aircraft. Also, interest from the government has supported the use of aerospace composites in aircraft component manufacturing.

In August 2022, Solvay joined hands with Wichita State University's National Institute for Aviation Research (NIAR) and opened a manufacturing innovation center. This innovation center will be a testing station to explore the advantages of new composite materials forms and manufacturing technologies that will lead to the development of lighter, safer, and sustainable aircraft.

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More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the Aerospace Composites Market, presenting historical data for 2020 to 2024 and forecast statistics for 2025 to 2035.

The aerospace composites industry is segmented by fiber into carbon fiber, ceramic fiber, and glass fiber. By matrix, it includes polymer, ceramic, and metal matrices.

Applications are divided into interiors and exteriors, while manufacturing processes include AFP/ATL, layup, resin transfer molding, and filament winding. By aircraft type, it covers commercial, business & general aviation, civil helicopters, and military aircraft. Regionally, the market spans North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA.

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This release was published on openPR.