Aeroengine Composites Market Size (2024 - 2029)

The Aeroengine Composites Market is projected to experience significant growth over the forecast period, driven by the increasing demand for new-generation aircraft and the development of advanced engine technologies. Despite the challenges posed by the COVID-19 pandemic, which temporarily disrupted the aviation industry and supply chains, the market is expected to expand as aircraft manufacturers focus on creating lighter and more efficient engines. The shift towards using composite materials is gaining momentum, with major engine manufacturers investing in in-house development to reduce reliance on external suppliers. This trend is anticipated to contribute to the overall growth and expansion of the market.

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Market Size of Aeroengine Composites Industry

Aeroengine Composites Market Size
Study Period 2019 - 2029
Market Size (2024) USD 3.39 Billion
Market Size (2029) USD 5.72 Billion
CAGR (2024 - 2029) 11.02 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Aeroengine Composites Market Major Players

*Disclaimer: Major Players sorted in no particular order

Aeroengine Composites Market Analysis

The Aeroengine Composites Market size is estimated at USD 3.39 billion in 2024, and is expected to reach USD 5.72 billion by 2029, growing at a CAGR of 11.02% during the forecast period (2024-2029).

The outbreak of the COVID-19 pandemic in 2020 severely impacted the entire aviation industry. It has resulted in several aircraft operators filing for bankruptcy, which reduced the demand for aircraft and aircraft engines. Reducing future defense spending may also hamper future military aircraft procurement plans, as countries are more focused on enhancing healthcare infrastructure. The shutdown of industries in several countries in 2020 halted the manufacturing of components and materials and impacted the supply chain associated with aircraft and engine manufacturing. Although situations improved in 2021, the demand is expected to continue to remain lower than the pre-COVID-19 levels in the near future.

The substantial rise in passenger traffic and the imposition of new emission regulations led to a significant increase in demand for new-generation aircraft purchases over the last decade, before the pandemic. Aircraft manufacturers are developing new aircraft models in the commercial, military, and general aviation sectors, requiring newer engines with better performance and low weight. As a result, the emphasis on newer material technologies like composites is increasing.

With the major engine manufacturers emphasizing their own in-house composite material development capabilities, the dependency on outsourced materials is expected to reduce over the years.

Aeroengine Composites Industry Segmentation

The study includes all aircraft engines in active production, with parts that include composites. Composites used in helicopter engines are excluded from the study.

The market is segmented by application into Commercial Aircraft, Military Aircraft, and General Aviation Aircraft. It is also segmented by component into Fan Blades, Fan Case, Guide Vanes, Shrouds, and Other Components. The other components segment includes the use of composites in the design and construction of nacelle components, such as thrust reversers, acoustic liners, cascades, blocker doors, radial drive fairings, and cowlings.

The report provides the market size and forecasts for all the major countries in various regions. The profiles of major players in the market are also covered, along with their market shares. The market size and forecast are provided by value (USD billion).

Application
Commercial Aircraft
Military Aircraft
General Aviation Aircraft
Component
Fan Blades
Fan Case
Guide Vanes
Shrouds
Other Components
Geography
North America
United States
Application
Canada
Application
Europe
United Kingdom
Application
France
Application
Germany
Application
Rest of Europe
Application
Asia-Pacific
China
Application
India
Application
Japan
Application
Rest of Asia-Pacific
Application
Latin America
Brazil
Application
Rest of Latin America
Application
Middle-East and Africa
Saudi Arabia
Application
United Arab Emirates
Application
Egypt
Application
Rest of Middle-East and Africa
Application
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Aeroengine Composites Market Size Summary

The aeroengine composites market is poised for significant growth over the forecast period, driven by the increasing demand for new-generation aircraft and the adoption of advanced material technologies. The market is recovering from the setbacks caused by the COVID-19 pandemic, which had a profound impact on the aviation industry, leading to reduced demand for aircraft and engines. However, the resurgence in passenger traffic and the introduction of stringent emission regulations have spurred the development of new aircraft models across commercial, military, and general aviation sectors. This has heightened the focus on composite materials, which offer improved performance and reduced weight, thereby enhancing engine efficiency. Major engine manufacturers are increasingly investing in in-house composite material development, reducing reliance on outsourced materials and bolstering their market positions.

The Asia-Pacific region is emerging as the fastest-growing market for aeroengine composites, fueled by robust aircraft procurement activities and a significant share of commercial aircraft deliveries to the region. The demand for narrowbody aircraft, such as the Airbus A220 and A320 families and Boeing 737 jets, is a key driver in the commercial sector. The region's growth is further supported by developments in composite applications in military aircraft engines, such as the F-35A Lightning II. Prominent industry players, including GE Aviation, Safran SA, and Solvay SA, are at the forefront of this market expansion, with strategic partnerships and investments in composite technologies. The increasing production rates of engines and the need for high-temperature-resistant composites are expected to sustain the market's growth momentum, offering lucrative opportunities for composite manufacturers and material suppliers.

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Aeroengine Composites Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Buyers/Consumers

      2. 1.4.2 Bargaining Power of Suppliers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size and Forecast by Value - USD billion, 2018 - 2027)

    1. 2.1 Application

      1. 2.1.1 Commercial Aircraft

      2. 2.1.2 Military Aircraft

      3. 2.1.3 General Aviation Aircraft

    2. 2.2 Component

      1. 2.2.1 Fan Blades

      2. 2.2.2 Fan Case

      3. 2.2.3 Guide Vanes

      4. 2.2.4 Shrouds

      5. 2.2.5 Other Components

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

          1. 2.3.1.1.1 Application

        2. 2.3.1.2 Canada

          1. 2.3.1.2.1 Application

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

          1. 2.3.2.1.1 Application

        2. 2.3.2.2 France

          1. 2.3.2.2.1 Application

        3. 2.3.2.3 Germany

          1. 2.3.2.3.1 Application

        4. 2.3.2.4 Rest of Europe

          1. 2.3.2.4.1 Application

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

          1. 2.3.3.1.1 Application

        2. 2.3.3.2 India

          1. 2.3.3.2.1 Application

        3. 2.3.3.3 Japan

          1. 2.3.3.3.1 Application

        4. 2.3.3.4 Rest of Asia-Pacific

          1. 2.3.3.4.1 Application

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

          1. 2.3.4.1.1 Application

        2. 2.3.4.2 Rest of Latin America

          1. 2.3.4.2.1 Application

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

          1. 2.3.5.1.1 Application

        2. 2.3.5.2 United Arab Emirates

          1. 2.3.5.2.1 Application

        3. 2.3.5.3 Egypt

          1. 2.3.5.3.1 Application

        4. 2.3.5.4 Rest of Middle-East and Africa

          1. 2.3.5.4.1 Application

Aeroengine Composites Market Size FAQs

The Aeroengine Composites Market size is expected to reach USD 3.39 billion in 2024 and grow at a CAGR of 11.02% to reach USD 5.72 billion by 2029.

In 2024, the Aeroengine Composites Market size is expected to reach USD 3.39 billion.

Aeroengine Composites Market Report Snapshots

Aeroengine Composites Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)