Aerospace Composites Market is Expected to Record CAGR of 9% By 2026

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Aerospace Composites Market 2020-2026 Growth
Forecast Industry Share Report
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Key Insights Aerospace Composites Market

• The aerospace composites market is set to witness
  remarkable growth on account of increasing number
  of space exploration activities and rising
  defense expenditure. Lately, the defense and
  space sectors have observed increasing
  popularity, attracting numerous government
  fundings for initiating new projects. In 2018,
  the overall space economy was valued at almost
  USD 414 billion with over 60 space programs
  operating across the world.
• Aerospace composites usually operate effectively
  in harsh environments as well as exhibits
  superior heat resistance ability, making it ideal
  for stabilizers, wings, and fuselages. Growing
  concerns over fuel-efficiency may support the use
  of these composites in exterior applications.
  Estimates have it that the exterior application
  segment could register a strong compound annual
  growth rate of 9.5 by 2026.

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Continued

• Growing demand for high stress enduring
  components have fostered the aramid/Kevlar-based
  aerospace composites market. The segment is
  projected to record a healthy CAGR of nearly 9
  by 2026. These fibers generally have low weight
  properties and offer high impact resistance. It
  is 40 lighter compared to glass fiber.
• Meanwhile, thermosetting resin segment is
  anticipated to register a CAGR of over 9 by
  2026. This growth can largely be attributed to
  the products low viscosity and ability to shape
  into complex designs. Epoxy-carbon based
  thermosetting composites are most commonly used
  in developing aircraft structural parts.

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Major Companies Aerospace Composites Market

• Cytec Industries
• Koninklijke Ten Cate Kaneka Corporation
• Argosy International
• Axioms Materials
• BASF SE
• E. I. du Pont de Nemours
• Gurit Holding AG

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Regional Aerospace Composites Market

• APAC is likely to multiply its aircraft fleet in
  the upcoming decades as it is dominated by
  developing countries like China, India, and
  Japan. These countries are renowned for their
  proliferating commercial, space, and military
  aircraft industries.
• Business aircraft are likely to witness
  exponential rise in demand, with the U.S. being
  at the forefront of the business aircrafts space,
  accounting for almost 70 of the global business
  airplanes. Rising use of aerospace composites to
  improve the fuel efficiency of business planes
  while providing remarkable aerodynamic
  performance will enhance the industry outlook
  over the predicted timeframe.

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