Aerospace Composites Market Size (2024 - 2029)

The aerospace composites market is experiencing growth due to the advantageous properties of composites, such as lightweight, high stiffness, and chemical resistance, which are increasingly being utilized in aerospace components and structures. This growth is driven by the need for reduced maintenance, longer design life, and lower costs in tooling and assembly. The demand for new-generation aircraft, spurred by rising passenger traffic and stringent emission regulations, has led to a focus on advanced material technologies like composites in the development of new aircraft models across commercial, military, and general aviation sectors.

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Market Size of Aerospace Composites Industry

Aerospace Composites Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 27.79 Billion
Market Size (2029) USD 43.47 Billion
CAGR (2024 - 2029) 9.36 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Aerospace Composites Market Major Players

*Disclaimer: Major Players sorted in no particular order

Aerospace Composites Market Analysis

The Aerospace Composites Market size is estimated at USD 27.79 billion in 2024, and is expected to reach USD 43.47 billion by 2029, growing at a CAGR of 9.36% during the forecast period (2024-2029).

The characteristics of composites, like temperature and chemical resistance, lightweight, high stiffness, dimensional stability, and flex performance, among others, made their use popular in various aerospace components and structural applications. Reduced maintenance, longer design life, fewer parts, and reduced tooling and assembly costs are some of the reasons that drive the aerospace composites market.

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.

Aerospace Composites Industry Segmentation

Aerospace composites are chosen for their ability to provide a combination of lightweight, high strength, corrosion resistance, and fatigue resistance. These characteristics make composites particularly suitable for applications where traditional materials like metals might be less efficient due to their weight or susceptibility to corrosion.

The aerospace composites market includes all applications of composites in military aircraft, commercial aircraft, general aviation aircraft, and spacecraft. Fiber type, application, and geography segment the aerospace composites market. By fiber type, the market is segmented into glass fiber, carbon fiber, ceramic fiber, and other fiber types. By application, the market is segmented into commercial aviation, military aviation, general aviation, and space. The report also covers the market sizes and forecasts for the aerospace composites market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).

Fiber Type
Glass Fiber
Carbon Fiber
Ceramic Fiber
Other Fiber Types
Application
Commercial
Military
General Aviation
Space
Geography
North America
United States
Canada
Europe
United Kingdom
France
Germany
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
South Africa
United Arab Emirates
Rest of Middle East and Africa
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Aerospace Composites Market Size Summary

The aerospace composites market is poised for significant growth, driven by the increasing demand for lightweight and high-performance materials in aircraft manufacturing. Composites are favored for their superior properties, such as temperature and chemical resistance, lightweight nature, and high stiffness, which contribute to reduced maintenance and longer design life. The market is experiencing a surge in demand due to the rise in passenger traffic and the need for new-generation aircraft that comply with stringent emission regulations. This has led to a focus on developing advanced aircraft models across commercial, military, and general aviation sectors, further propelling the adoption of composite materials. The commercial aircraft segment holds the largest market share, supported by the expansion of airline routes and the introduction of new airlines, alongside a growing air cargo market.

The Asia-Pacific region is emerging as a pivotal hub for the aerospace composites market, fueled by the rapid growth of civil aviation in countries like India and China. The region's increasing demand for air travel and military aviation, driven by geopolitical tensions and military spending, is contributing to the market's expansion. Major aerospace companies, including Airbus and Boeing, are delivering a significant portion of their aircraft to customers in this region, with a notable emphasis on engines utilizing composite materials. The market is semi-consolidated, with key players like Toray Industries, SGL Carbon, Hexcel Corporation, Solvay SA, and DuPont dominating the landscape. Strategic partnerships and investments in advanced composites for space applications are expected to create new opportunities and enhance market presence, as evidenced by recent collaborations and contracts in the industry.

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Aerospace 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 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      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

    1. 2.1 Fiber Type

      1. 2.1.1 Glass Fiber

      2. 2.1.2 Carbon Fiber

      3. 2.1.3 Ceramic Fiber

      4. 2.1.4 Other Fiber Types

    2. 2.2 Application

      1. 2.2.1 Commercial

      2. 2.2.2 Military

      3. 2.2.3 General Aviation

      4. 2.2.4 Space

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 United Kingdom

        2. 2.3.2.2 France

        3. 2.3.2.3 Germany

        4. 2.3.2.4 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Rest of Latin America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 South Africa

        2. 2.3.5.2 United Arab Emirates

        3. 2.3.5.3 Rest of Middle East and Africa

Aerospace Composites Market Size FAQs

The Aerospace Composites Market size is expected to reach USD 27.79 billion in 2024 and grow at a CAGR of 9.36% to reach USD 43.47 billion by 2029.

In 2024, the Aerospace Composites Market size is expected to reach USD 27.79 billion.

Aerospace Composites Market Report Snapshots

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