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Aerospace Composite market Analysis
Aerospace composites offer excellent resistance to corrosion and fatigue, leading to longer service life for components.
WILMINGTON, DE, UNITED STATES, November 25, 2024 /EINPresswire / -- Allied Market Research recently published a comprehensive report titled“Aerospace Composite Market by Fiber Type (Carbon Fiber, Glass Fiber, Aramid Fiber, and Others),
manufacturing Process (ATL or AFP, Filament Winding, Resin Transfer Molding, Hand Layup, and Others), Aircraft (Commercial Aircraft, Business & General Aviation, Civil Helicopter, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.”
The report highlights the impressive growth trajectory of the global aerospace composite market, valued at $29.6 billion in 2022 and projected to reach $87.0 billion by 2032, registering a robust CAGR of 11.5% from 2023 to 2032.
Download Sample Pages of Research Overview:
Key Market Insights
Growth Drivers:
- Demand for lightweight materials to enhance fuel efficiency in aerospace.
- Integration of nanotechnology in composite development.
Opportunities:
- Increased adoption of aerospace composites in next-generation aircraft.
Restraints:
- High initial costs of composite materials.
Segment Analysis
By Fiber Type:
- Carbon Fiber: Dominated with over one-third of the market revenue in 2022, primarily due to its use in constructing fuselage sections to reduce weight while maintaining structural integrity.
- Aramid Fiber: Poised for the highest CAGR of 12.1% during the forecast period, driven by its application in lightweight, durable aircraft interiors such as seat structures and panels.
By Manufacturing Process:
- Automated Tape Laying (ATL) or Automated Fiber Placement (AFP): Led the market in 2022, contributing over a quarter of the revenue. These technologies optimize structural performance and are widely used in manufacturing aircraft skins and wing panels.
- Other Processes: Including injection molding and autoclave curing, this segment is projected to grow at the highest CAGR of 12.2% due to its efficiency in creating intricate components.
By Aircraft Type:
- Commercial Aircraft: Accounted for around one-third of the revenue in 2022, owing to the industry's focus on fuel efficiency and environmental sustainability.
- Business and General Aviation: Expected to grow at a CAGR of 12.0% due to the rising emphasis on lightweight materials for fuel-efficient aviation.
By Region:
- North America: Dominated the market with a 40% share in 2022, led by the U.S., a global hub for aerospace innovation.
- Asia-Pacific: Forecasted to grow at the fastest CAGR of 11.0%, fueled by increasing adoption of aerospace composites in commercial, military, and space applications.
Leading Players
The market features prominent players such as Bally Ribbon Mills, DuPont, Hexcel Corporation, Solvay, Spirit AeroSystems, and Toray Industries. These companies employ strategies like product launches, collaborations, and expansions to strengthen their market positions.
Report Features
- Pages: 300
- Coverage: Fiber Type, Manufacturing Process, Aircraft Type, and Region
- Key Insights: Market dynamics, competitive landscape, and strategic developments
Want to Access the Statistical Data and Graphs, Key Players' Strategies:
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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