Aerospace Composites Market expected to cross 70 thousand tons till 2024
Aerospace Composites Market players focus on aircraft commercialization and extensive utilization of carbon fiber for their product enhancement. For instance, Boeing and Airbus are shifting their focus on commercialization of their advanced passenger aircrafts with wide body that use considerable amount of carbon fiber in their structures, therefore escalating the aerospace composites market demand. Aerospace Composites Market size is estimated to surpass USD 5 billion by 2024; according to a new research report by Global Market Insights, Inc.Global aerospace composites are expected to cross 70 thousand tons till 2024. Continuously rising demand for commercial aircrafts along with growing defense sector will primarily drive the growth over the forecast timespan. Rising passenger traffic travelling by air across the globe will also have a positive impact on the aerospace composites market size.
Huge investments by various governments in aerospace business will spur the aerospace composites market growth till 2024. The economies that are witnessing rapid growth in aerospace industry are forecasted to possess robust growth prospects over the coming years. These investments will contribute significantly towards the high revenue generation over the next eight years. However, complex manufacturing processes may hamper the aerospace composites market growth.
Request For Sample Copy Of This Report @
https://www.gminsights.com/request-sample/detail/1358
Advanced fiber recycling, especially for carbon fiber will be witnessed as an emerging trend over the coming years. The significant potential demand of reclaimed fibers can be attributed to their high value, recovered high strength, and high modulus aerospace grade fibers that retain better properties. One of the key innovations is the complete digitization of the aerospace industry. This includes real-time resource planning & allocation and high-tech enabled equipment and engines that notify the maintenance staff & operations centers during issues in the aircrafts.
Carbon fiber will account for highest revenue share in the industry crossing USD 3.5 billion till 2024. Rising demand from commercial airline operators for their external structural operations will support the aerospace composites market dominance. These external operations are the primary & secondary aircraft structures that include wings, fuselage, undercarriage, and propulsion systems. Reduction in the raw material cost for production of carbon fiber will further escalate the aerospace composites market growth.
Aramid fiber will grow at over 7% CAGR from 2017 to 2024 owing to the provision of all-weather operation of commercial aircrafts and an enhanced vision system. Moreover, the features such as temperature stability and durability will further support the aerospace composites market growth over the coming years.
Browse Complete Report Summary@
https://www.gminsights.com/industry-analysis/aerospace-composites-market
Thermosetting resins is anticipated to dominate the industry with over 75% revenue share and will generate over 52 thousand tons till 2024. The high revenue generation can be attributed to numerous benefits such as resistance to high temperatures, fatigue strength, enhanced finishing, excellent adhesion, and resistance to solvents & corrosives. High usage of Epoxy and Phenolics in aircraft internal structures will further support the aerospace composites market dominance. Thermoplastics will exhibit approximately 9% CAGR over the forecast timeframe owing to higher shelf life as compared to its counterpart. Less requirement of curing time and easy molding into various shapes will further escalate the growth of aerospace composites market.
Commercial aircraft is expected to dominate the aerospace composites market with 52% revenue share over the next eight years owing to rising usage of composites, especially carbon fiber in these aircrafts. Increasing expenditure in defense will support the high revenue generation till 2024. Military aircrafts will grow exponentially owing to the rising investments in military aviation across the globe. For instance, the military aviation sector in India is expected to invest approximately USD 35 billion over the next 20 years.
Exterior applications will account for over USD 3 billion over the forecast timeline owing to the extensive usage of aerospace composites in exterior structural aircraft applications. The use of composites enables for 20% weight reduction along with low production time and higher damage tolerance during the production. Interior application will grow at over 8% CAGR from 2017 to 2024. Increased fuel efficiency and higher passenger comfort are among the key factors fueling the growth of aerospace composites market from interior application.
Inquire Before Buying This Report@
https://www.gminsights.com/inquiry-before-buying/1358
North America aerospace composites market is anticipated to cross USD 2 billion, capturing almost 40% revenue share till 2024. Higher consumer spending along with the constant ageing of commercial aircraft are among the primary factors influencing the overall product penetration in the region. Additionally, huge investments in defense sector in developed countries such as U.S. will induce immense potential to the regional growth. Asia Pacific aerospace composites market will witness highest growth rate over the forecast timeframe owing to rising demand of commercial aircrafts across the region, especially in the emerging economies including China.
Airbus, Boeing, BASF, E. I. du Pont de Nemours, Huntsman International, Lee Aerospace, and Hindustan Aeronautics are among the prominent players in the aerospace composites market. Other notable players include ACT Aerospace, Gurit Holding AG, Hexcel, Cytec Industries, Teijin Ltd, and Axioms Materials.
Read Our Blog:
http://www.thecampingcanuck.com/
http://marketsizeforecast.blogspot.com
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com/
Social Media: Google+ | LinkedIn | Twitter | Facebook
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Aerospace Composites Market expected to cross 70 thousand tons till 2024 here
News-ID: 903627 • Views: …
More Releases from Global Market Insights Inc.
Latest Research Report On Agricultural Adjuvants Market 2021. Major Players Incl …
The agricultural adjuvants market is expected to observe noteworthy growth on account of increasing demand for high-quality crops. Adjuvants commonly act as an additive in pesticides that increase its effectiveness and smoothen its mixing application.
The demand for plant protection products in countries like Bangladesh, India, and Vietnam has surged considerably in recent years. Ever-increasing population across developing economies has forced farmers to produce large quantities of high-quality yields. Citing…
U.S. Minoxidil Market 2021 Growth Opportunities and Competitive Landscape 2027 - …
The U.S. minoxidil industry has been impacted by the COVID-19 pandemic in the form of increased stress amid job losses and health issues, creating rising incidences of hair fall and associated problems. The industry is expected to gain commendable proceeds on account of an upsurge in research studies concerned with the effectiveness of minoxidil.
Citing one such instance, in January 2021, a study published in the Dermatologic Therapy supported the efficacy…
Global Sulfosuccinate Market 2021 Future Growth With Technology and Current Tren …
Owing to these factors, estimates have revealed that the global sulfosuccinate market size will exceed USD 475.7 million in annual estimation by 2024.
Increasing adoption of high-performance materials that meet application-specific requirements across various industries, including pharmaceuticals will stimulate the need for sulfosuccinate compounds. The surging disposable incomes of consumers mainly across the developing nations have also fueled their spending capacities on household and personal care.
Sulfosuccinates are mainly a mild type…
By 2026, Graphene Market will register over 35% CAGR | Applied Nanotech, Inc, an …
The global Graphene Market is slated to gain significant momentum over the forthcoming years, as a result of the growing product consumption in the electronics sector, particularly in developing countries. This high consumption can be attributed to its superior qualities such as high electrical conductivity, durability, and toughness.
Request a sample of this research report @
https://www.gminsights.com/request-sample/detail/233
Top Key Players in The Market are:
Graphenea S.A., Applied Graphene Materials plc, ACS…
More Releases for Aerospace
Aerospace Composites Market Future Growth Insight And Competitive Outlook 2025 | …
The Global Aerospace Composites Market is expected to reach USD 57.04 billion by 2025, from USD 26.90 billion in 2017, growing at a CAGR of 9.4% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2015 & 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.Global Aerospace Composites Market, By Fibre Type (Carbon, Glass, Ceramic),…
Aerospace Lavatory System Market Outlook to 2027 - Jamco, Yokohama Aerospace Ame …
An aircraft lavatory is a type of small room in flights which have toilet and sink for crew members and passengers. These offers necessary services and amenities while travelling. Factors responsible to drive the growth of aerospace lavatory system is increase in the number of passengers has raised the demand for more commercial aircraft equipped with advance lavatory system. This factor is accountable to drive the aerospace lavatory system market…
Aerospace Evacuation Market 2025 By Top Key Players UTC Aerospace Systems, Zodia …
Asia Pacific will witness a significant growth rate in the aerospace evacuation market place over the forecast timeframe. This is attributed to the increasing air travel coupled with investments in aviation industry across the region. International Air Transport Association (IATA) estimates that the region will have around 3.5 billion passengers by 2036.
Europe aircraft evacuation market holds substantial share with the expansion of airlines. In August 2018, Wizz Air announced expansion…
Aerospace Lavatory System Market Outlook to 2027 - Percival Aviation, Zodiac Aer …
The Aerospace Lavatory System Market research report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive Poter's five forces analysis.
Factors responsible to drive the growth of aerospace lavatory system is increase in the number of passengers has raised the demand for more commercial aircraft equipped…
Aerospace Control Surface Market - Spirit AeroSystems, Aernnova Aerospace, GKN A …
North America aerospace control surface market size is expected to lead owing to presence of key manufacturers in the region. Europe led by Germany, France, UK and Russia is estimated to witness significant growth in aerospace control surface market during the forecast timeframe. Advancement in technology with implementation of light weight composites allowing improved efficiency of aircraft will support the overall industry demand.
Aerospace control surface market can be segmented based…
Global Aerospace & Defense C-Class Parts Market 2017 -Lisi Aerospace, LMI Aerosp …
Apex Research, recently published a detailed market research study focused on the "Aerospace & Defense C-Class Parts Market" across the global, regional and country level. The report provides 360° analysis of "Aerospace & Defense C-Class Parts Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Aerospace & Defense C-Class Parts industry, and…