Aerospace Plastics Market Growth forecast 2017 to 2022; Industry Trends report

Aerospace Plastics Marketis anticipated to hit USD 15.74 billion by 2022, growing at CAGR of 12% over 2015-2022.

Aerospace Plastics Market is set to carve out a profitable roadmap in the years ahead, subject to the numerous benefits that plastics offer, such as corrosion endurance, light weight, and impact resistance. The use of plastics for manufacturing aircraft components has multiplied four times since the last 45 years.

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Global MArket Insights Inc. has full report titled "Aerospace Plastics Market Size By End User (Military Aircrafts, Commercial & Freighter Aircrafts, General Aviation, Rotary Aircrafts), By Application (Wings & Rotor Blades, Airframe & Fuselage, Empennage, Cabin Areas, Flight Deck & Cockpit), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2015 – 2022".

This market is quite consolidated, for the top four players accounted for more than 67% of the total revenue share in 2014. Companies that manufacture aircraft composites have also been making efforts to ante up the product development, innovation, and regional expansion to diversify their business across the globe. For instance, Toray Industries, the world leader in global aerospace plastic market, recently announced its plans of consolidating its operations in America. As per the company’s officials, this move is expected to strengthen the presence of the company in the U.S., innovate better products, and ensure overall consumer satisfaction.

Plastic materials have been widely used since the early 19th century, however, their utilization in the manufacturing process of aircraft components was brought about only post the Second World War. Having begun their journey into the aircraft manufacturing space as a substitute for rubber, plastics came to be extensively used in the construction of helicopters and airplanes in the years ahead. Today, they are one of the most durable, strong, and dependable material used for manufacturing navigation and structural elements in commercial and military aircrafts, thereby propelling global aerospace plastics market.

Carbon fiber reinforced plastic (CFRP) is one of the main products used to make aircraft elements. It possesses the properties of high strength, light weight, circumvention of radar detection, subject to which this material is extensively used in military applications. This will spur aerospace plastics market from military aircrafts. Military applications are touted to be a major revenue generating segment across various geographies, as is evident from the statistics.

APAC aerospace plastics market, having held more than 13% of the global revenue in 2014, will register huge gains over 2015-2022, pertaining to the high demand for commercial and military aircrafts across countries such as India and China. In fact, China is heavily involved in the construction of aircraft 787 – the country manufactures components such as wing-to-body fairing panels, rudders, leading edge for vertical fins, and other components, which will rapidly stimulate APAC aerospace plastics industry.

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Pertaining to a strict regulatory framework designed for the aviation industry, Europe aerospace plastics market is anticipated to register a significant CAGR over 2015-2022, with a revenue estimation of USD 6.5 billion by 2022. Germany and France are touted to be the key revenue contributors. In fact, France houses numerous institutions that provide aviation training and engineering programs. In addition, most of the French aviation companies pour back more than 15% of their annual earnings back into the company’s research & development activities. Such initiatives undertaken by other European countries will undeniably stimulate Europe aerospace plastics market.

The latest trend in aerospace plastics market is that of utilizing polymers as raw material. Manufacturers have begun to use polymers on a large scale owing to their excellent properties that help enhance fuel economy and reduce the overall weight of the finished component. These polymers are being excessively used for manufacturing commercial aircrafts. Pertaining to this factor, aerospace plastics market size from commercial & freighter aircrafts industry is likely to cross USD 10 billion by 2022, having held a revenue of more than USD 5.6 billion in 2014.

Business and private jets are a thing of the present, especially with the world’s elite wanting to fly across the globe for major business travel or black tie events. With the rising prominence of exclusive private planes and the increasing number of commercial planes by the day, aerospace plastics market from general aviation is likely to observe a fairly modest growth over the next five years, having held more than 10% of the overall demand in 2014.

Source Report: https://www.gminsights.com/industry-analysis/aerospace-plastics-market

The high quality and enhanced sophistication of European airplanes must also be credited to the efficient construction of cabin areas, which demand the utilization of plastics for various elements such as decorative closeouts, food trays, trim strips, and arm rests. In response to this fact, Europe aerospace plastics industry size from cabin area application is projected to be more than USD 1.5 billion by 2022.

Polymer Blog: https://polymersindustry.tumblr.com

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