Aerospace Composites Market by Research Nester to Reach USD 50 Billion by 2033 Globally
Research Nester assesses the growth of global aerospace composites market over the forecast period, i.e., 2023-2033, and evaluates its future prospects. Rising aerospace and defense industry across the globe to drive market growth. The U.S aerospace industry holds second place with a 5.3% growth rate over the past 10 years as per the U.S International Trade Administration.
Research Nester’s recent market research analysis on “Aerospace Composites Market: Global Demand Analysis & Opportunity Outlook 2033” delivers a detailed competitors analysis and a detailed overview of the global aerospace composites market in terms of market segmentation by fiber type, matrix type, aircraft type, and by region.
Growing Concern for Corrosion of Metal Components in Airplanes to Drive Growth of Global Aerospace Composites Market
The global aerospace composites market is estimated to grow majorly on account of the increased corrosion issues caused by metal parts. The use of composite materials is estimated to reduce corrosion problems by 100%. The replacement of aluminum parts with the aerospace composites such as carbon fibers is expected to hike the market growth. For instance, in an experimental project, a company utilized over 1000 composite parts to replace 10,000 metal parts in a helicopter.
The market research report on global aerospace composites encompasses an in-depth analysis of the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends. These analyses help organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. Additionally, the growth opportunities exposed by the market is poised to gain significant momentum in the next few years.
By aircraft type, the global aerospace composites market is segmented into commercial aircraft, business and general aviation, civil helicopter, and military aircraft. The commercial aircraft segment is to garner the highest revenue by the end of 2033 by growing at a significant CAGR over the forecast period.
Rising developments in the civilian aerospace segment and rising composites utilization in midsize aircraft manufacturing are estimated to hike the market growth in the coming years. By 2040, the need for airplanes around the globe is estimated to project by more than 40,000 as per the observations.
By region, the North America aerospace composites market is estimated to generate the highest revenue by the end of 2033. This growth is anticipated by increasing demand for aerospace and defense companies in the region. As of 2019, North America with more than 15,500 registered aircraft is the largest jet fleet in the world. The U.S accounts for more than 90% of jet production across the globe.
This report also provides the existing competitive scenario of some of the key players of the global aerospace composites market which includes company profiling of Owens Corning, Hexcel Corporation, LMI Aerospace, Inc., Toray TCAC Holding B.V, Teijin Aramid B.V., Solvay S.A., Mitsubishi Chemical Corporation, VX Aerospace Corporation, SGL Carbon, Unitech Group, and others.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global aerospace composites market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
