Dublin, Nov. 16, 2023 (GLOBE NEWSWIRE) -- The "Aerospace Composites Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering.
Overall world revenue for the Aerospace Composites Market in terms of value is forecast to surpass US$35 billion in 2024, with strong revenue growth predicted through to 2034. The report identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
Redefining Flight Dynamics, One Gram at a Time
One of the primary driving factors for the global aerospace composites market is the aviation industry's pursuit of lightweight materials. Composite materials, being significantly lighter than traditional metals, reduce overall aircraft weight, enhancing fuel efficiency and reducing operational costs. For instance, the Boeing 787 Dreamliner extensively utilizes carbon-fiber composites, enabling it to be 20% more fuel-efficient than older models, showcasing the transformative impact of lightweight composites on modern aircraft
Sustainable Solutions Soaring to New Heights
The urgent need for environmental sustainability has propelled the aerospace industry towards composites. Lighter aircraft consume less fuel, leading to reduced carbon emissions. Governments and environmental agencies worldwide are pushing for greener aviation, incentivizing the adoption of composites. Manufacturers like Airbus's A350 XWB, with its extensive use of composites, significantly contribute to reduced greenhouse gas emissions, aligning with global efforts for a more sustainable aviation future.
Market Dynamics
Market Driving Factors
- High Demand for Composite Materials from the Aerospace Industry
- The Growing Global Middle-Class Population and Increased Air Travel Demand Drive the Need for More Aircraft
- The Defence Sector's Demand for Advanced Composites in Military Aircraft and Equipment Is a Driving Factor
Market Restraining Factors
- Higher Material Costs Hinder the Market Growth
- Lack of Skilled Personnel Hinder the Market Growth
- Recycling Composite Materials in the Aerospace Industry Poses a Significant Challenge
Market Opportunities
- Advances in Manufacturing and Production Technologies Opportunities for the Market
- Expanding into Emerging Markets Opportunities for the Market Growth
- The Development of Novel Composite Materials with Enhanced Properties
Segments Covered in the Report
Market Segment by Carbon Fibre Type
- Carbon Fibre Reinforced Polymers (CFRP)
- Carbon Fibre Reinforced Metals (CFRM)
Market Segment by Fibre Type
- Carbon Fibre Composites
- Glass Fibre Composites
- Aramid Fibre Composites
Market Segment by Aircraft Type
- Commercial Aircraft
- General Aviation
- Military Aircraft
- Helicopters
Market Segment by Application
- Interior Components
- Exterior Components
- Engine Components
- Structural Components
- Other Applications
Market Segment by Resin Type
- Epoxy
- Phenolic
- Polyester
- Polyimide
- Thermoplastic
- Other Resin Type
The report also includes profiles and for some of the leading companies in the Aerospace Composites Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies and the potential for market growth
- Albany Engineered Composites
- General Electric Company
- Hexcel Corporation
- Kineco Kaman Composites
- Lee Aerospace, Inc.
- Materion Corporation
- Mitsubishi Chemical Group Corporation
- Nippon Graphite Fibre Corporation
- Owens Corning
- PRF Composite Materials
- Rolls-Royce Limited
- Spirit AeroSystems Holdings
- Teijin Limited
- Toray Industries, Inc.
- Victrex
Key Questions Answered in the Report:
- How is the aerospace composites market evolving?
- What is driving and restraining the aerospace composites market?
- How will each aerospace composites submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2034?
- How will the market shares for each aerospace composites submarket develop from 2024 to 2034?
- What will be the main driver for the overall market from 2024 to 2034?
- Will leading aerospace composites markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2034 and which geographical region will lead the market in 2034?
- Who are the leading players and what are their prospects over the forecast period?
- What are the aerospace composites projects for these leading companies?
- How will the industry evolve during the period between 2024 and 2034? What are the implications of aerospace composites projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the aerospace composites market?
- Where is the aerospace composites market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
For more information about this report visit https://www.researchandmarkets.com/r/2hh5u2
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