Market Overview
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).
Global Aerospace Composites Market - Geographical Analysis
North American region, heading with the presence of several manufacturers of aerospace parts, would continue its dominance over the global aerospace composites market. Factors such as the increasing number of carbon fiber composites manufacturing plants led by the augmenting demand for carbon fiber composites are acting as a major driving force for the regional market. Countries such as the USA, Canada, and Mexico are projected to be key contributors to the growth of the aerospace composites market in the region.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/aerospace-composites-market-1242
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.
Industry/Innovation/ Related News:
May 22, 2019 ---- Carboman Group S A (France), one of the largest manufacturers of composite parts in Europe announced its collaboration with Aviation Aircraft (Israel), a global manufacturer of all-electric air mobility solutions for Aviation’s Alice, an all-electric aircraft structure that will debut at the 2019 Paris Air Show next month.
Carboman will be presenting its new carbon fiber composite fuselage for Alice. The goal, Carboman says, was to create the lightest possible carbon fiber composite airframe to provide a cost-effective 650-mile range for the aircraft, while using a sustainable, low noise and zero-emission electric propulsion system.