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Aerospace Composites Market Growth Analysis | 2023-2028
Aerospace Composites Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2023-2028
The aerospace composites market was estimated at USD 29.40 billion in 2022 and is likely to grow at a CAGR of 11.7% during 2023-2028 to reach USD 57.11 billion in 2028.
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Composite materials are used in various applications in the aerospace & defense industry. They possess various properties such as lightweight, high strength, weather-resistant finish, and different surface textures.
Composite materials also offer a host of other advantages, such as excellent fatigue and corrosion-resistant properties, high strength-to-weight ratio, and the ability to withstand high-impact load.
Lightweighting for Fuel Efficiency & Emission Reduction: The aviation sector faces mounting pressure to cut carbon emissions without compromising performance. By utilizing composite materials, we can achieve a weight reduction of 20–50% compared to conventional materials like aluminum, resulting in decreased fuel consumption. NASA reports that cutting an aircraft's weight by 1,000 pounds can save around 15,000 gallons of fuel annually. For instance, Boeing’s 787 Dreamliner, which comprises about 50% composite materials by weight, demonstrates a fuel efficiency improvement of 20% compared to other aircraft of similar size. This strategic use of advanced composites has become a crucial element in modernizing fleets around the world.
Stringent Environmental Regulations and Sustainability Goals: Governments and regulatory bodies are enforcing emission caps and incentivizing green aviation technologies. Composites help OEMs meet stricter fuel-efficiency standards and support the move toward sustainable aviation. The European Union's "Flightpath 2050" targets a 75% reduction in CO? emissions per passenger kilometer by 2050. The Clean Sky 2 initiative, backed by the EU, has funded multiple aerospace composite research projects, including carbon fiber-reinforced thermoplastics that are recyclable and reduce lifecycle emissions.
Increased Use of Composites in Military & Space Applications: Military and space agencies are demanding high-performance, radar-absorbing, heat-resistant, and structurally efficient materials—making advanced composites an essential component in defense platforms and spacecraft. The U.S. Department of Defense highlights composites as strategic materials in the National Defense Industrial Strategy, focusing on their application in stealth technology and drone airframes. Lockheed Martin’s F-35 Lightning II incorporates 35% composite materials, enhancing both maneuverability and radar stealth.
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Based on the fiber type, the market is segmented as carbon fiber, ceramic fiber, glass fiber, and others.
The carbon fiber segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. The increasing demand for carbon fiber in the aerospace & defense industry is driving the growth of this segment. Carbon fiber possesses various properties such as high inherent strength, lightweight, and weather resistance, and offers a variety of surface textures.
Based on the aircraft type, the market is segmented as commercial aircraft, business and general aviation, civil helicopters, military aircraft, and others.
The commercial aircraft segment dominates the market, as the latest aircraft program, A350XWB, uses a significantly larger amount of aerospace composite material, compared to older aircraft programs, which use only 2-5% of the material. Further, various factors such as high corrosion resistance, low maintenance cost, and lightweight are fueling the growth of the segment during the forecast period.
North America is estimated to be the largest as well as the fastest-growing market during the forecast period, with lucrative growth opportunities.
The growth of the market is driven by the increasing usage of composite material in commercial and military aircraft. Further, the presence of a large number of aircraft manufacturers and mass production of aerospace parts using aerospace composites are bolstering the growth of the market in the North American region. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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Some of the major players in the market are:
Note: The above list does not necessarily include all the top players in the market.
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This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace composites market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our aerospace composites market report from the industry stakeholders, we have tried to further accentuate our research scope to the aerospace composites market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The aerospace composites market is segmented into the following categories:
By Fiber Type
By Resin Type
By Aircraft Type
By Manufacturing Process Type
By Application Type
By Region
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With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
Custom Research
Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].
FEB 2025: India’s Composite Industry Gets a Boost with JBI Aerospace & VIK-COMPOSITE Partnership: JBI Aerospace has teamed up with Germany's VIK-COMPOSITE GmbH to launch a cutting-edge composite manufacturing facility in India. This partnership is set to boost the aerospace, space, wind energy, and defense sectors by driving down costs, speeding up lead times, and strengthening local composite manufacturing capabilities. The focus of this collaboration will be on manufacturing processes, material innovations, and strategic market approaches to enhance the composite industry in India. It also aims to support and elevate the local composite sector while fostering indigenous manufacturing through creative solutions and teamwork.
NOV 2024: Toray Expands CFRT Capabilities with Strategic Acquisition of Gordon Plastics: Toray Advanced Composites has recently expanded its continuous fiber reinforced thermoplastic (CFRT) offerings by acquiring the assets, technology, and intellectual property of Gordon Plastics, located in Englewood, Colorado. This acquisition is a significant move to strengthen Toray's capabilities in developing, testing, and producing CFRT unidirectional tapes, specifically for higher melting temperature polymer systems. The 47,000 sq. ft. facility in Englewood will serve as a satellite R&D and production site, enhancing Toray's ability to meet the increasing demands in various sectors, including sporting goods, oil and gas, and industrial markets. The plant will manufacture CFRT tapes using a variety of matrices, such as PEI (Ultem™), PPS, PES, PESU, PA6, and PA11, and will be reinforced with different types of glass and carbon fibers.
TAI to Launch World’s 4th Largest Aerospace Composites Plant: Turkish Aerospace Industries (TAI) is developing a state-of-the-art composite materials factory at its Kahramankazan campus in Ankara, with an investment of $181 million. Covering an impressive 95,000 square meters, it will be Turkey’s largest composite production facility and the fourth-largest worldwide. This innovative plant will specialize in manufacturing structural components for aircraft and helicopters, catering to both domestic initiatives and major global clients, including Airbus and Boeing. With cutting-edge technologies like AI-driven robotic systems, the factory aims to ensure high-precision and error-free production. When fully operational, the facility is projected to create over 1,000 jobs for engineers and technicians, contributing around 2% to the global demand for aerospace structural composites. This venture demonstrates TAI's dedication to strengthening Turkey's aerospace sector and enhancing its position within the international aerospace supply chain.
The aerospace composites market is likely to grow at a CAGR of 11.7% during 2023-2028.
The aerospace composites market was estimated at USD 29.40 billion in 2022.
The aerospace composites market is likely to reach USD 57.11 billion in 2028.
Some of the major players in the market are- Solvay S.A., Hexcel Corporation, Royal Tencate N.V., Teijin Limited, Toray Industries, Inc., SGL Group—The Carbon Company, Owens Corning, Materion Corporation, Mitsubishi Rayon Co. Ltd., and Renegade Materials Corporation.
North America is estimated to be the largest market during the forecast period.
The aerospace composites market is driven by several key factors, including: growth in commercial aviation, increased demand for military aircraft, growing demand for unmanned aerial vehicles (UAVs), and technological advancements.
The commercial aircraft segment dominates the market, as the latest aircraft program, A350XWB, uses a significantly larger amount of aerospace composite material, compared to older aircraft programs, which use only 2-5% of the material.
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