Press release
Global Aerospace Plastics Market to Rise at a 9.63% CAGR During 2016 – 2025
Aerospace Plastics
Report Overview:
The global Aerospace Plastics Market was worth USD 11.34 million in the year 2016, and is expected to garner around USD 25.94 billion by 2025, while registering itself at a compound annual growth rate (CAGR) of 9.63% during the forecast period. The growing requirement for plastic in various applications of aerospace that includes empennage, cabin interiors, fuselage and airframe is anticipated to boost the market in the consecutive years.
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The performance and the efficacy of airplanes in directly influence by the reduction of its weight. Additionally, with the contraction of a kilogram in the weight of the airplane is anticipated to revoke costs of operating related to fuel for a commercial airplane. Plastics are extensively utilized in place of aluminum and steel as they are extremely durable and lightweight which leads to increased implementation of plastic.
Key players in Market:
Hyosung Corp
Mitsubishi Heavy Industries
Kaman Corp
Hexcel
Composite Holding Comp
Cytec Industries
HITCO Carbon Composites
Regional Outlook:
Due to increased prices of fuel, the aerospace market of North America is anticipated to encounter a rising demand for aircrafts that are fuel-efficient. Growth in the rate of replacement, majorly in regional aircrafts is boosting growth in the North American industry of Aerospace plastics. The desire to replace the aircrafts that are inefficient with the ones that are efficient is expected to spur the growth of the aerospace plastic market significantly. The aerospace plastics market in Europe encountered substantial growth in the year of 2016 and is anticipated to witness considerable growth in consecutive years due to surplus investments witnessed in research and development and the availability of qualified engineers.
The Aerospace plastics market is segmented as follows-
By Application
Satellites
Equipment, systems & support
Propulsion systems
Aerostructure
Construction and insulation components
Cabin interiors
Components
By End Users
General aviation
Commercial & freighter aircrafts
Rotary aircrafts
Military aircrafts
Others
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