Aerospace Composite Market Expansion Potential Areas for Strategic Entry

Aerospace Composite Industry Trends

Commercial aircraft held the largest market share in 2022, driven by environmental sustainability goals through fuel efficiency.

WILMINGTON, DELAWARE, UNITED STATES, July 8, 2024 /EINPresswire.com/ -- Allied Market Research recently published a report titled "Aerospace Composite Market¹," projecting substantial growth from 2023 to 2032. The global market, valued at $29.6 billion in 2022, is expected to reach $87.0 billion by 2032, with a CAGR of 11.5%. Key drivers include the demand for lightweight materials like carbon fibers, known for their strength-to-weight ratio, which enhances fuel efficiency in aerospace. However, the market faces challenges due to the high initial costs of composite materials. Opportunities abound with the increasing demand for next-generation aircraft.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/8085

The report segments the market by fiber type (carbon fiber, glass fiber, aramid fiber, and others), manufacturing process (ATL or AFP, filament winding, resin transfer molding, hand layup, and others), aircraft type (commercial aircraft, business & general aviation, civil helicopter, and others), and region. Carbon fibers dominated in 2022, accounting for over one-third of the market share, and are expected to maintain leadership, while aramid fibers are anticipated to grow fastest with a CAGR of 12.1%.

Manufacturing processes like Automated Tape Laying (ATL) or Automated Fiber Placement (AFP) are crucial, accounting for significant market share in 2022 and expected to lead through 2032. These processes allow for precise fiber orientations, optimizing component performance. The "other" segment, encompassing processes like injection molding and autoclave curing, is forecasted to grow the fastest at 12.2% CAGR, driven by their suitability for complex aerospace parts.

Automated Tape Laying (ATL) or Automated Fiber Placement (AFP) led the manufacturing processes in 2022, owing to their ability to tailor fiber orientations for optimized structural integrity. However, the "other" segment, including injection molding and autoclave curing, is expected to grow at the highest CAGR of 12.2% from 2023 to 2032, due to its suitability for complex aerospace components.

The report covers extensive details including market segmentation by fiber type (carbon fiber, glass fiber, aramid fiber, and others), manufacturing process (ATL or AFP, filament winding, resin transfer molding, hand layup, and others), aircraft type (commercial aircraft, business & general aviation, civil helicopter, and others), and region. Carbon fibers led the market in 2022 and are expected to maintain their dominance, while aramid fibers are anticipated to grow fastest with a CAGR of 12.1% due to their use in lightweight interior components.

Commercial aircraft held the largest market share in 2022, driven by environmental sustainability goals through fuel efficiency, while business & general aviation is expected to grow the fastest with a CAGR of 12.0% during the forecast period. North America led the market in 2022, but Asia-Pacific is set to exhibit the highest growth rate of 11.0% CAGR, driven by increasing adoption of aerospace composites across various applications.

Regionally, North America dominated the market in 2022, driven by technological leadership and heavy reliance on aerospace composites. Asia-Pacific is expected to exhibit the highest growth rate of 11.0% CAGR, reflecting increasing adoption across applications including commercial aircraft and military sectors.

Key players in the aerospace composite market include Bally Ribbon Mills, Hexcel Corporation, and Toray Industries Inc., employing strategies like new product launches and collaborations to maintain market leadership.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/aerospace-composite-market/purchase-options

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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¹ https://www.alliedmarketresearch.com/aerospace-composite-market-A07720