The Aerospace Composites Market is expected to grow at 8.5% during 2020-2025, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Aerospace Composites Market
Aerospace composites market is likely to witness an impressive CAGR of 8.5% during the forecast period. The prime factor that is contributing to the growth of the market is mainly the increasing usage of aerospace composite fabrics in various aircraft, such as commercial, regional, and military aircraft.
In terms of regions, North America is estimated to be the largest as well as the fastest-growing aerospace composites market during the forecast period, with lucrative growth opportunities. The growth of the market is driven by the increasing usage of composite material in the commercial and military aircraft. Further, the presence of a large number of aircraft manufacturers and mass production of aerospace parts using aerospace composites are bolstering the growth of the market in the North American region. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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Market Scope & Segmentation
Aerospace Composites Market Share: By Fiber Type
Based on the fiber type, the market is segmented as carbon fiber, ceramic fiber, glass fiber, and others. The carbon fiber segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The increasing demand for carbon fiber in the aerospace & defense industry is driving the growth of this segment. Carbon fiber possesses various properties such as high inherent strength, lightweight, weather-resistance, and offers a variety in surface textures.
Aerospace Composites Market Share: By Aircraft Type
Based on the aircraft type, the aerospace composites market is segmented as commercial aircraft, business and general aviation, civil helicopters, military aircraft, and others. The commercial aircraft segment dominates the market, as the latest aircraft program, A350XWB, uses a significantly larger amount of aerospace composite material, compared to older aircraft programs, which use only 2-5% of the material. Further, various factors such as high corrosion-resistance, low-maintenance cost, and lightweight are fueling the growth of the segment during the forecast period.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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