Aerospace Composites Is Expected to Reach a Valuation of Over US$ 56 Bn By 2031

Aerospace Composites Industry analysis shows that the global market was valued at US$ 32 Bn in 2020, and is projected to top US$ 56 Bn by 2031, expanding at an impressive CAGR of 9% across forecast period as per Fact.MR’s report. Sales of carbon fiber composites are projected to reach a valuation of around US$ 22 Bn, increasing at a CAGR of 9% through 2031, with that for glass composites surging at 8%.

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The Aerospace Composites Market research report assists companies in defining their own strategies for product creation, future product revisions, sales, marketing, promotion, and distribution in both the existing market and a potential novel market. Businesses may clearly understand what is already available, what the market presumes, the competitive climate, and what can be done to outperform the competition thanks to the research and analysis done for this study with the help of consistent knowledge. Businesses can better understand the various drivers and restraints affecting the market during the forecast period with the aid of the Aerospace Composites Market research study.

Competitive Landscape

Major players in the market are focused on adopting merger and acquisition (M&A) strategies to expand their product portfolios. Major companies are involved in adopting various inorganic and organic strategies to increase their foothold in the industry. Key manufacturers are also investing in research & development to innovate lightweight and cost-effective composites for the aerospace sector.

Some of the key developments are

  • In December 2019, Solvay and SGL Carbon entered into a joint development agreement (JDA) to bring to market the first composite materials based on large-tow intermediate modulus (IM) carbon fiber. These materials address the need to reduce costs and CO2 emissions, and improve the production process and fuel efficiency of next-generation commercial aircraft.
  • In January 2019, Teijin Limited entered into an agreement with Boeing for the supply of unidirectional pre-impregnated tape (TENAX TPUD). This helped the company in its medium-term growth in the aircraft business.
  • In February 2019, Teijin Limited acquired Renegade Materials Corporation, a supplier of highly heat-resistant thermoset prepreg for the aerospace industry in North America. This helped the company solidify its position as a leading provider of solutions for aerospace applications.

Key Market Segments Covered in Industry Analysis

  • On the Basis of Fibre:
    • Carbon Fibre
    • Ceramic Fibre
    • Glass Fibre
  • On the Basis of Matrix:
    • Polymer Matrix
    • Ceramic Matrix
    • Metal Matrix
  • On the Basis of Application:
    •  Interiors
    •  Exteriors
  • On the Basis of Manufacturing Process:
    • AFP (Automated Fibre Placement)/ATL (Automated Tape Layup)
    • Layup
    • Resin Transfer Moulding
    • Filament Winding
  • On the Basis of Aircraft:
    •  Commercial Aircraft
    •  Business & General Aviation
    •  Civil Helicopters
    •  Military Aircraft

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