The latest report on Aerospace Composites Market by Infinium Global Research gives complete coverage of the Aerospace Composites Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Aerospace Composites such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Rising Fuel Costs, Environmental Regulations and an Increase in Airline Traffic are Driving the Increasing Use of Composite Materials
The aerospace market is one of the largest and the most important to the composites industry. Composites are versatile, used for both structural applications and components, in all aircraft and spacecraft, from hot air balloon gondolas and gliders to passenger airliners, fighter planes, and the Space Shuttle. Composite materials have been used in aerospace in applications such as engine blades, interiors, brackets, single-aisle wings, nacelles, propellers/rotors, wide body wings.
The rising fuel costs, environmental regulations and an increase in airline traffic are driving the increasing use of composite materials in the aerospace industry. Furthermore, the growing demand for advanced composites for commercial and military applications is also favoring the growth of the market. The increasing demand for reducing the weight of the aircraft to improve fuel efficiency fuels the growth of the aerospace composites market.
These materials are used as a substitute for metals and also provide OEMs the opportunity to produce lightweight structures thereby reducing fuel consumption and reducing emissions. Furthermore, growing environmental regulations have led to a significant increase in the use of aerospace composites in aerospace structures.
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Oems the Opportunity to Produce Lightweight Structures thereby Reducing Fuel Consumption and Reducing Emissions
However, due to the robust fabrication and manufacturing process of these composite materials, the cost of the composite materials increases, which hampers the growth of the aerospace composites market. Moreover, the emergence of supersonic and hypersonic flight vehicles is anticipated to create a huge demand for advanced aerospace composites over the forecast period.
Geographically, North America held the maximum market share in the aerospace composites market and is expected to remain dominant over the forecast period owing to the increasing demand for lightweight and durable advanced composite materials for aerospace applications. Europe is the second largest region owing to the increasing imposition of environmental regulations and the growth of the automotive industry in this region.
The Asia Pacific region is set to grow at the fastest rate owing to the growth in defense budgets of key nations in the Asia Pacific such as China and India and a continuing increase in passenger travel demand. Furthermore, it is estimated that Asia Pacific’s fleet will triple to about 13,222 aircraft by 2034.
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- Comprehensive analysis of global as well as regional markets of the Aerospace Composites.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.