Overview of the global aerospace composite market

Technavio’s global aerospace composite industry report predicts the market to grow at a modest CAGR of close to 7% during the forecast period. Much of this market’s growth can be attributed to the high demand for fuel-efficient aircraft. Composite materials are lighter and much stronger than traditional materials like metal alloys and offer weight savings of up to 50%. Due to fluctuations in global oil prices, the aerospace composite market demand will increase as it helps to lower fuel usage and increase operational efficiency. Companies like Boeing and Airbus have been able to reduce aircraft weight by 20% by switching over to composites. The ability of composites to increase an aircraft’s payload capacity will lead to its increased demand during the forecast period.

In this industry research report, the analysts have also considered the impact of factors like production automation to estimate this market’s growth potential. Automation helps to reduce the time required to produce all kinds of materials, including composites, by standardizing the process. Automated production also helps in reducing labor costs by streamlining the overall manufacturing process. Rapid advances in the field of automated production of composites, such as automated fiber placing, automated tape laying, infusion molding, pultrusion, and filament winding, will lead to the high preference for automation during the forecast period.

What's your takeaway?

Technavio's industry research report on the global aerospace composite market 2016-2020 help you-

• Identify latent opportunities and explorative solutions in the global aerospace composite market: research report
• Identify your key competition, and what's making them tick?
• Help you build a comprehensive marketing plan, applicable across 50+ countries

Next step: Download FREE sample report | Talk to us

Application-based segmentation of the aerospace composite market

• Glass fiber
• Carbon fiber
• Aramid fiber

The carbon fiber segment dominates the global aerospace composite market and is expected to grow at a CAGR of close to 9% during the forecast period. Carbon fibers are now being used in place of aluminum due to advantages like its lightweight, high tensile strength, and fire resistance properties in numerous parts like the fuselage and wings. An increase in the global demand for airplanes will result in the strong growth of this market segment over the next few years.

Geographical segmentation of the aerospace composite market

• Americas
• APAC
• EMEA

In this market study, analysts have estimated that the APAC region will account for approximately 41% of the total market share by 2020. The increased adoption of automated manufacturing solutions has brought about technological progress in the aerospace composite industry and has also helped Asian vendors differentiate themselves by their sophisticated production methods. Greater use of such advanced production techniques will have a positive impact on market growth during the forecast period.

Competitive landscape and key vendors

The global aerospace composite market has quite a few well-diversified international, medium-sized, and small vendors. The market is also very competitive and is expected to register a rise in product extension as well as technological innovations. The competitive environment may result in international players taking over smaller companies through M&As as it will help them to grow organically. End users in this market are shifting their focus from quantity to quality. Trying to maintain a balance between quality and costs while providing retrofit solutions and upgrades to meet military needs, can present significant challenges to vendors.

Key vendors in this market are -

• Cytec Industries
• Hexcel
• Koninklijke Ten Cate(TenCate)
• Mitsubishi Rayon
• Owens Corning

Other prominent vendors in this market are Hartzell Aerospace, Hyosung, Kaman, SGL Group, and Teijin Aramid.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global aerospace composite market?
• What are the key market trends impacting the growth of the global aerospace composite market?
• What are the challenges to market growth?
• Who are the key vendors in the global aerospace composite market?
• What are the market opportunities and threats faced by the vendors in the global aerospace composite market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global aerospace composite market?