Aerospace Composite Market: Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Fiber Type, Resin Type and Aircraft Type

The Aerospace Composite Market size was valued at USD 26697.05 Million in 2023 and the total Aerospace Composite Market revenue is expected to grow at a CAGR of 5.77 % from 2024 to 2030, reaching nearly USD 39536.74 Million.

Aerospace composites are advanced materials used in construction of aircraft and spacecraft. They are composed of two or more constituent materials with significantly different physical or chemical properties, which remain separate and distinct within finished structure. Common types of aerospace composites include carbon fiber reinforced polymers (CFRP), glass fiber reinforced polymers (GFRP), and aramid fiber reinforced polymers (AFRP). These materials offer superior strength-to-weight ratios, stiffness, and resistance to fatigue and corrosion compared to traditional materials like aluminum and steel. Aerospace composite market is experiencing robust growth, driven by increasing demand for lightweight, durable, and fuel efficient materials in aerospace industry.

Composites are essential in reducing weight of aircraft, which directly translates to improved fuel efficiency and lower emissions, aligning with industrys sustainability goals. Aerospace Composite Market includes a wide range of applications, including commercial aircraft, military aircraft, helicopters, and spacecraft. Primary drivers of aerospace composite market are need to reduce weight of aircraft. Composites are significantly lighter than traditional materials, which leads to improved fuel efficiency and reduced operational costs. Aviation industry is under constant pressure to reduce its carbon footprint, and use of composites plays a crucial role in achieving this goal.

Growth in air travel, particularly in emerging economies, has led to a surge in demand for commercial aircraft. Manufacturers in Aerospace Composite Market are increasingly using composite materials to enhance performance and efficiency of new aircraft models. For instance, Boeing 787 Dreamliner and Airbus A350 XWB are both designed with a high percentage of composite materials. Military sector also drives demand for aerospace composites due to their superior performance characteristics. Composites are used in various applications, including fighter jets, helicopters, and unmanned aerial vehicles (UAVs). Need for advanced materials that offer high strength, durability, and stealth capabilities is a significant growth factor in this segment.

Solvay and Spirit AeroSystems have strengthened their research and technology relationship by becoming strategic partners at Spirits Aerospace Innovation Centre (AIC) in Prestwick, Scotland. This collaboration focuses on developing advanced composite aerostructures to meet performance, cost, and production rate requirements of future Aerospace Composite Market. Partnership aims to innovate in composite fabrication, automation, and assembly technologies to shorten development cycles and de risk projects. ARRIS, a leader in advanced manufacturing of fiber reinforced composites, secured $34 million in funding to expand its operations and accelerate adoption in Aerospace Composite Market. This investment supports development of high performance composite materials at scale, which are critical for next-generation aerospace applications.To know about the Research Methodology:-Request Free Sample Report
Market Dynamics:
Technological Advancements in Composite Materials

Advancements in composite materials are a significant driver for growth in aerospace composite market. For instance, Toray Industries' development of TORAYCA T1200, world’s highest strength carbon fiber, demonstrates push towards creating stronger, lighter, and more efficient materials. This Fiber Type enhances performance of aerospace components by reducing weight and improving strength, leading to better fuel efficiency and reduced emissions. Similarly, innovations such as Hexcel's carbon fiber prepreg for Dassault's Falcon 10X emphasize benefits of advanced materials in enhancing aircraft performance. These technological improvements enable development of next generation aircraft with superior structural integrity and reduced operational costs, driving Aerospace Composite Market growth.

Aerospace industry's increasing focus on reducing aircraft weight to improve fuel efficiency is a key Aerospace Composite Market driver. RAMPF Composite Solutions’ initiative to develop ultra-lightweight composite propeller blades for Urban Air Mobility (UAM) and Unmanned Aerial Vehicles (UAVs) illustrates this trend. Lightweight composites help in lowering overall weight of aircraft, leading to improved fuel efficiency and extended service life. Use of lightweight composite structural parts by Dufour Aerospace for its Aero2 aircraft highlights demand for materials that offer strength without adding weight. These advancements cater to aerospace industry's need for enhanced performance and operational efficiency, fueling market growth.

Aerospace industry is increasingly influenced by regulatory requirements focused on sustainability and environmental impact. GE Aerospaces $68.1 million contract with NASA for Hybrid Thermally Efficient Core (HyTEC) project highlights push towards integrating ceramic matrix composites to improve fuel efficiency. Such regulations drive adoption of advanced composite materials that meet environmental standards while enhancing performance. Compliance with these regulations often necessitates use of innovative composites that support lower emissions and better fuel efficiency, thus propelling Aerospace Composite Market.
Growth of Urban Air Mobility (UAM) and UAV Markets:
Growth of Urban Air Mobility (UAM) and Unmanned Aerial Vehicle (UAV) sectors is boosting demand for advanced composite materials. Development of ultra lightweight composite propellers by RAMPF Composite Solutions specifically for UAM and UAV Resin Types highlights this trend. These sectors require high performance composites to ensure efficiency and reliability. As UAM and UAV technologies advance, need for specialized composites that offer high strength-to-weight ratios becomes critical. This growth is further supported by collaborative efforts between companies like Hexcel and FACC AG to integrate composites into next generation aircraft.

Collaborations between aerospace companies and composite material suppliers are enhancing innovation and accelerating Aerospace Composite Market growth. For example, partnership between Solvay and Spirit AeroSystems aims to advance composite aerostructures and manufacturing technologies. Such collaborations facilitate development of new composite solutions that meet evolving demands of aerospace industry. By pooling resources and expertise, these partnerships drive forward adoption of cutting edge composites that offer improved performance and cost efficiencies. This collective effort contributes to overall growth of aerospace composite market by fostering innovation and accelerating Fiber Type integration.

Significant investments in aerospace research and development are accelerating innovations in composite materials. ARRIS Fiber Type’s recent $34 million funding round exemplifies sector commitment to advancing manufacturing technologies for fiber reinforced composites. Such investments enable development of new composite technologies that can be scaled for commercial use, thereby improving performance and reducing costs. Additionally, U.S. Department of Defense's $3.7 million award to Qarbon Aerospace for developing advanced lightweight composite structures underscores importance of R&D funding in driving aerospace composite market forward.

Aerospace Composite Market Segment Analysis
Based on Fabric Type, the Aerospace Composite Market was dominated by glass fibers with a 75% share in 2023, primarily due to their versatility and adaptability across various composite materials and applications. Glass fibers are extensively used in aircraft structures, including fuselage panels and wing components, owing to their cost effectiveness and strength. Carbon fibers, holding a 15% share, are preferred for high performance applications that require superior strength-to-weight ratios and stiffness. These fibers are critical in manufacturing of advanced aerospace components like airframes and propellers, where weight reduction is paramount. Ceramic fibers, making up 8% of market, are utilized in specialized applications, particularly in high temperature environments and for thermal protection systems. Their adoption is seen in engine components and heat shields, where their resistance to extreme temperatures and lightweight properties provide significant advantages. Differential adoption of these fibers is driven by their unique properties and specific application requirements within Aerospace Composite Market.
Aerospace Composite Market Regional Insights:
Aerospace Composite Market was predominantly led by North America, capturing a significant 35% market share in 2023. This dominance is attributed to region's robust aerospace and defense industry, presence of major aircraft manufacturers like Boeing, and extensive research and development activities focused on advanced composite materials. North Americas leadership in aerospace composites is further bolstered by strong investments in military aircraft, commercial aviation, and space exploration programs. region’s well-established supply chain and technological advancements also contribute to its leading position in Aerospace Composite Market.

Europe follows with a 27% market share in 2023, driven by presence of key players such as Airbus and numerous aerospace component manufacturers. The region's commitment to sustainable aviation and lightweight materials has spurred adoption of composites to enhance fuel efficiency and reduce emissions. Europe’s stringent environmental regulations and ambitious aerospace projects, including Clean Sky initiative, are significant drivers of growth in the Aerospace Composite Market. collaboration between government bodies, research institutions, and private companies in Europe further supports innovation and market growth.

Asia Pacific holding a 24% market share, is observed to be fastest growing region in aerospace composite market. The rapid growth is propelled by increasing demand for commercial aircraft due to rising air passenger traffic and economic growth in countries like China and India. The regions aerospace industry is witnessing substantial investments in manufacturing facilities and technological upgrades to meet growing demand. Companies in Asia Pacific are also focusing on enhancing their production capacities and entering strategic partnerships to leverage advanced composite technologies. The establishment of aerospace hubs, particularly in China, and regions integration into global supply chain are critical factors contributing to its swift Aerospace Composite Market growth.


Aerospace Composite Industry Ecosystem
Competitive Landscape
The collaborations and investments in composite manufacturing are set to drive substantial Aerospace Composite Market growth. Solvay and Spirit AeroSystems' partnership will advance composite aerostructures, enhancing manufacturing technologies and efficiency for future aircraft. ARRIS’s $34 million funding will accelerate global scaling of its advanced composites platform, expanding its market reach in aerospace and consumer Resin Types. Moreover, Dufour Aerospace's choice of Aerolite for producing lightweight, high-quality Aero2 components highlights increasing demand for efficient, durable parts in aviation. These developments collectively foster innovation and growth in Aerospace Composite Market.

On June 21, 2023, Solvay and Spirit AeroSystems strengthened their partnership by making Solvay a strategic partner at Spirit’s Aerospace Innovation Centre (AIC) in Prestwick, Scotland. This collaboration focuses on advancing composite aerostructures, aiming to enhance sustainable aircraft technologies and processes. By developing advanced manufacturing concepts, both companies seek to improve composite fabrication, automation, and assembly technologies, thereby reducing development cycles and aligning on future innovation opportunities to meet demands of future aircraft.

On April 30, 2024, ARRIS a leader in advanced manufacturing of fiber reinforced composites, announced it secured $34 million in new funding. This investment round, supported by both new and existing investors like ST Engineering, Zebra Technologies and Bosch Ventures, aims to accelerate ARRIS's growth and expand its presence in aerospace and consumer markets. The funding will support ARRIS's global scaling of its next gen manufacturing platform, which promises to enhance adoption of high-performance composites across key sectors.

On July 14, 2023, Dufour Aerospace selected Aerolite AG as main supplier for composite structural parts for Aero2 aircraft. Aerolite will manufacture nacelles and tail components at its Horw, Switzerland facility. This partnership focuses on leveraging Aerolites expertise in producing lightweight, durable parts essential for aviation efficiency. Simon Bendrey from Dufour Aerospace praised Aerolite's established aerospace manufacturing experience and certifications, which will contribute significantly to high quality production and assembly of Aero2 components.
Aerospace Composites Market Scope: Inquire before buying



Global Aerospace Composites Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
USD 26697.05 Million.


Forecast Period 2024 to 2030 CAGR:
5.77%
Market Size in 2030:
USD 39536.74 Million.


 Segments Covered:
by Fibre Type
Glass fibre
Carbon Fibre
Ceramic Fibre
Others


by Matrix Type
Polymer Matrix Composite
Metal Matrix Composite
Ceramic Matrix Composite


by End-User Industry
Commercial Aircraft
Business And General Aviation Aircraft
Military Aircraft
Civil Helicopter
Others



Aerospace Composites Market, by Region:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Aerospace Composite Market, Key Players:
1. ACP Composites Inc.
2. Advanced Composites Inc
3. Argosy International LLC
4. ATLAS COMPOSITE TECHNOLOGIES
5. Avior Produits Intégrés Inc.
6. Axiom Materials
7. Collins Aerospace
8. Cutting Dynamics
9. DuPont
10. Hexcel Corporation
11. Huntsman International LLC
12. Hyosung Advanced Materials Co Ltd
13. Materion Aerospace Metal Composites
14. Mitsubishi Chemical Carbon Fiber and Composites (MCCFC)
15. PARK AEROSPACE CORP
16. Plastic Reinforcement Fabrics Ltd
17. Renegade Materials Corporation
18. SGL Carbon
19. Solvay
20. ST Advanced Composites Pvt Ltd,
21. Syensqo
22. Tata Advanced System Limited
23. Teijin Limited
24. Toray Composite Materials America, Inc.
25. VX Aerospace

FAQs:
1. What are the growth drivers for the Aerospace Composite Market?
Ans. Technological Advancements in Composite Materials is expected to be the major driver for the Aerospace Composite Market.

2. What is the major opportunity for the Aerospace Composite Market growth?
Ans. Growth of Urban Air Mobility (UAM) and UAV Markets are expected to be the major opportunity in the Aerospace Composite Market.

3. Which country is expected to lead the global Aerospace Composite Market during the forecast period?
Ans. North America is expected to lead the Aerospace Composite Market during the forecast period.

4. What is the projected market size and growth rate of the Aerospace Composite Market?
Ans. The Aerospace Composite Market size was valued at USD 26697.05 Million in 2023 and the total Aerospace Composite Market revenue is expected to grow at a CAGR of 5.77 % from 2024 to 2030, reaching nearly USD 39536.74 Million.

5. What segments are covered in the Aerospace Composite Market report?
Ans. The segments covered in the Aerospace Composite Market report are by Fiber Type, Resin Type, End-User Industry and Region.