Aerospace Composites Market Trend, Share, Growth, Size Analysis and Forecast 2032

The global Aerospace Composites Market size accrued earnings worth approximately USD 32.31 Billion in 2023 and is predicted to gain revenue of about USD 71.94 Billion by 2032, is set to record a CAGR of nearly 9.3% over the period from 2024 to 2032.

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Global Aerospace Composites Market Overview

Aerospace market is one of the most important and largest markets for the composite industry. All the military aircrafts, commercial aircrafts, helicopters, and spacecrafts use composite materials both for indoor and outdoor applications. These composite materials, also called advanced polymer matrix composites, are generally determined by high-strength fibers that have high elasticity and stiffness and are bounded together with weaker matrices. The composites materials are important for the aerospace industry, as they provide better structural strength as compared to metallic alloys.

Aerospace Composites Growth Dynamics

The increase in the demand for lightweight composite materials is due to their requirement in manufacturing aircrafts, which is the primary factor that is likely to contribute to the aerospace composites market growth in the future. Additionally, the development of fuel-efficient aircrafts is another factor that is expected to drive this market. However, the lack of standardization in manufacturing technologies might hamper this market in the upcoming years. Furthermore, the increase in the number of aircraft deliveries worldwide is likely to open alluring opportunities for the market players.

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The report provides a transparent outlook on the aerospace composites market. We have included a detailed competitive scenario and portfolio of leading vendors operative in the aerospace composites market. To understand the competitive landscape in the aerospace composites market, an analysis of Porter’s Five Forces model for the aerospace composites market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their general attractiveness, market size, and their growth rate.

The report provides company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, product, and regional expansion of major participants involved in the market on a regional basis.

Aerospace Composites Market: Report Scope

Aerospace Composites Market: Segmentation Analysis

The study provides a crucial view of the aerospace composites by segmenting the market based on resin, aircraft, application, and region. All these segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Based on resin, the aerospace composites market is classified into epoxy, phenolic, polyester, thermoplastics, polyimides, ceramic, and metal matrix. Resins held the largest market share in 2023, owing to the increased product use for manufacturing interior parts of aircrafts. Commercial aircraft, single engine piston, helicopters, military aircraft, and spacecraft form this market’s aircraft segment. Commercial aircrafts dominated the aerospace composites market in 2023 and are expected to dominate over the projected years as well.

By fiber type, the market is classified into carbon fiber composites, ceramic fiber composites, glass fiber composites, and others. Interior and exterior comprise the application segment of the aerospace composites market.

By region, North America held the largest share in the aerospace composites market in 2023 globally, due to the increased consumption of composites for interior and exterior parts in military and commercial aircrafts. Europe is expected to witness noticeable growth in the upcoming years, owing to the high composites materials’ demand in the manufacturing of high-speed trains. The Asia Pacific market is estimated to be the fastest growing over the forecast time period, due to increased air passenger traffic.

The regional segmentation comprises the current and forecast demand for the Middle East and Africa, North America, Europe, Latin America, and Asia Pacific with its further division into major countries including the U.S., France, UK, Germany, China, India, Japan, and Brazil.

Some key players of the aerospace composites market are

• Solvay Group
• Royal Tencate N.V.
• Hexcel Corp.
• Toray Industries, Inc.
• Teijin Limited
• SGL Group—The Carbon Company
• Materion Corporation
• Owens Corning
• Mitsubishi Rayon Co. Ltd.
• Gurit
• General Electric
• Rolls Royce
• Honeywell International
• Advanced Composites
• Kineco-Kaman
• Nippon Graphite Fiber
• Quantum Composites
• Hyosung
• Hexion
• Renegade Materials Corporation
• and E. I. Du Pont Nemours & Co., among others.

This report segments the global aerospace composites market into:

Global Aerospace Composites Market: Resin Analysis

• Epoxy
• Phenolic
• Polyester
• Polyimides
• Thermoplastics
• Ceramic 
• Metal Matrix

Global Aerospace Composites Market: Aircraft Analysis

• Commercial Aircraft
• Single Engine Piston
• Military Aircraft 
• Helicopters
• Spacecraft

Global Aerospace Composites Market: Fiber Type Analysis

• Carbon Fiber Composites
• Ceramic Fiber Composites 
• Glass Fiber Composites 
• Others

Global Aerospace Composites Market: Application Analysis

• Interior 
• Exterior

Global Aerospace Composites Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa