seobhushan (66)

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Aerospace Composites Market is projected to reach
CAGR 7.3 by 2027
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Key Insights from Aerospace Composites Market

• The dynamically increasing product demand is
  expected to strengthen the business space for
  aerospace composites market over the foreseeable
  future. The emerging concept of space tourism and
  exploration, in addition to the rising demand for
  commercial as well as defense aircraft has
  tremendously increased the demand for highly
  efficient aerospace composite materials. The
  growing consumer preference for fuel-efficient
  and safer aircrafts has instigated the demand for
  these materials. Various manufacturers of
  aerospace composite materials are now focusing on
  delivering products with effective vibration
  damping to offer a better airplane ride
  experience to pilots and passengers.
• Aerospace composites are largely available in the
  form of resins, fibers, and thermoplastics. Of
  these, aramid fibers are gaining massive traction
  owing to their high impact resistance, low
  weights, and high strength which makes them ideal
  for the aerospace industry. Apart from their high
  strength, aramid fibers are also resistant to
  chemicals which is further impelling its demand.
  With the growing product demand, the segment is
  anticipated to observe a substantial CAGR of
  around 6.5 through 2027.

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Regional Insights in Aerospace Composites Market

• The market, on the regional terrain, is recording
  substantial gains from Asia Pacific and is
  expected to capture a sizeable share of over 20
  by 2027. This can be ascribed to the rising
  demand for commercial and private jets in the
  region, driven by the growing population and
  increasing air travel in the region. The regional
  countries, especially, China, Japan, and India
  are expected to triple their fleet in the coming
  two decades. They also are witnessing strong
  demand from the defense aerospace industry. The
  ongoing improvements in the product efficiency
  with the application of advanced composites is
  positively influencing the market growth.

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Major Companies in Aerospace Composites Market

• Hexcel
• E.I. DuPont de Nemours
• LMI Aerospace
• Solvay Group
• BASF SE.

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Industry Coverage

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