Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 15.70 Billion | USD 25.90 Billion | 8.70% | 2021 |
FrequentlyAsked Questions
The demand for fuel-efficient aeroplanes, as well as the booming space and defense industries, are major factors boosting the market for aerostructure composites.
The aerostructure composite market was worth around USD 15.70 billion in 2021 and is estimated to grow to about USD 25.90 billion by 2028, with a compound annual growth rate (CAGR) of approximately 8.70% over the forecast period.
North America leads the global market of aerostructure composites strongly backed by the presence of major aircraft manufacturers and the availability of technological advancement required for manufacturing aerostructure component in the region.
Key players functioning in the aerostructure composite market include LMI Aerospace, Inc., Owens Corning, Hexcel Corporation , Solvay S.A., Toray Advanced Composites, Teijin Limited, SGL Carbon, Mitsubishi Chemical Corporation, VX Aerospace Corporation , Unitech Aerospace and Others
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