Market Overview
Global Aerospace Composites Market has been growing rapidly, mainly due to the flourishing aerospace industry that is continually registering an increasing demand. The use of composites in the making of aircraft is primarily to reduce the overall weight and corrosion in the aircraft body, which further drastically reduces the maintenance costs. As a result, the use of these composite materials has increased dramatically.
Today, nearly 55% of the new aircraft are manufactured using composite materials as compared to old aircrafts that used only 2–5% composites. The increasing uses of these materials have led to increasing the size of the market, creating a huge demand, and the investments for the production and the R&D activities. Resultantly, the aerospace composite market is garnering colossal traction on the global front.
Acknowledging the substantial growth that the market is witnessing, currently, Market Research Future (MRFR) in its recently published study analysis asserts that the global aerospace composites market is expected to accrue enormously by 2023, registering over 9% CAGR throughout the forecast period (2017-2023).
Also, there is an increasing demand for carbon fiber composites in the defense and aerospace sector. The reason behind this is properties that carbon composites render such as lightweight, high strength, weather-resistant finish, and different surface textures. The usage of carbon fiber composites is projected to account for nearly 75% of the total composites used in aircraft manufacturing.
Global Aerospace Composites Market - Segmentation
For ease of understanding, the analysis is segmented into three key dynamics:
• By Type: Glass Fiber, Carbon Fiber, and Aramid Fiber, among others.
• By Applications: Commercial and Military.
• By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Global Aerospace Composites Market - Competitive Analysis
Highly competitive, the global aerospace composites market appears to be fragmented with the presence of several well-established players. These players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and technology launch to gain a competitive advantage in this market.
Major Players:
Key players leading the global aerospace composites market include Solvay Group (Belgium), Owen Corning (US), Teijin Limited (Japan), Toray Industries, Ltd. (Japan), Royal Ten Cate (Netherlands), Hexcel Corporation (US), Kaman (US), SGL Group (Germany), General Electric (US), and Koninklijke Ten Cate BV (Netherlands) among others.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/aerospace-composites-market-1242