Aerospace Plastics Market
Aerospace Plastics Market By Polymer Type (Polyetheretherketone (PEEK), Polyphenyl Sulfide (PPS), Polycarbonate (PC)), By Aircraft Type (Military Aircraft, Rotary Aircraft, General Aviation), By Application & By Region - Global Market Insights 2023 to 2033
Analysis of Aerospace Plastics Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Aerospace Plastics Market Outlook (2023 to 2033)
Expanding at a steady CAGR of 6%, the global aerospace plastics market is estimated to increase from a valuation of US$ 15 billion in 2023 to US$ 27 billion by the end of 2033.
Polyetheretherketone (PEEK) polymer is an excellent substitute for metals such as steel and aluminum due to its extraordinary strength and rigidity. Numerous aircraft components such as valve seats and pump gears are made of polyetheretherketone. Since this material is resistant to hydrolysis and can sustain high radiation exposure, it can likely withstand strong steam and water pressures without degrading.
Aerospace plastics are polymers that are applied in a variety of aerospace applications. Plastics are widely employed in the aerospace sector because of their lightweight, high strength, and durability. These polymers have a high level of added value and unique qualities, including crystallinity and thermal stability.
The weight and balancing system is used with great care in the design of aircraft. To ensure an easy and safe flight, high mechanical strength and proper weight distribution are needed. The market is anticipated to be driven by rising demand for aerospace plastics that are lower in weight but have high strength.
In addition, airplanes are subjected to a variety of conditions such as bad weather, extreme heat, UV radiation, turbulence, and others. These plastics exhibit high resistance to corrosive substances, radiation, heat, and chemicals. This is expected to have a favorable effect on consumer demand for aircraft plastics and further fuel market expansion.
The aerospace plastics market is expanding rapidly due to the surging need for lighter and more efficient aircraft. A prominent factor supporting market growth is the replacement of outdated aircraft and modernization of existing aircraft, together with rising demand for passenger aircraft in emerging areas. The increasing need for low-cost airlines, as well as an increase in aircraft deliveries and air passenger traffic, are all contributing to market expansion for aerospace plastics.
Modern, lightweight materials with excellent strength are gradually replacing conventional materials in the aerospace sector. This is due to the goal of improving fuel efficiency, cutting down on material usage, and lowering emissions. Manufacturers can decrease aircraft weight while increasing technical flexibility and creativity by incorporating lightweight plastics into their manufacturing processes.
The market for aerospace plastics will expand due to the increasing demand for both general aviation and commercial aviation. The need for high-performance plastics is projected to expand over the coming years as lightweight aircraft are used to improve the performance and efficiency of aircraft.
It is anticipated that rising middle-class disposable income along with a growth in low-cost carriers will fuel demand for aerospace plastics. Rapid commercialization of the aviation industry and the desire to lower carrier operating costs may present profitable opportunities for market participants.
Plastics are a secure material for use in airplane applications because they may effectively lower the risk of explosion in fuel tanks and other life-saving equipment. Plastics provide solutions that satisfy crucial safety requirements, such as fire prevention.
Aerospace Plastics Market Size (2023)
US$ 15 Billion
Projected Market Value (2033)
US$ 27 Billion
Global Market Growth Rate (2023 to 2033)
Market Share of Commercial & Freighter Aircraft
Key Companies Profiled
What is Driving Aerospace Plastics Market Potential?
“Increasing Need for Fuel Efficiency Pushing Demand for Aerospace Plastics”
The pressure from aviation authorities to curb carbon emissions for reducing the environmental impact of aircraft manufacturing is driving the global demand for aerospace plastics. For instance, the Advisory Council of Aeronautics Research in Europe (ACARE) warrants a 50% reduction in CO2 emissions and an 80% reduction in nitrogen oxide emissions from original equipment manufacturers in the aviation industry.
Advancements in material science further this adoption with superior product characteristics such as durability, weight-to-strength ratio, and electrical conductivity. On the back of such favorable trends, the global market is expected to grow during the forecast period.
The proliferation of air traveling in developing countries is propelling the demand for commercial aircraft fleets. Modern aircraft rely on high-performance plastics to deliver fuel efficiency and enhanced safety & security.
The adoption of advanced air traffic control systems is creating a need for high-speed data transmission, which is fueling the demand for satellite and construction & insulation applications of aerospace plastics. The introduction of in-flight entertainment is contributing to market growth. As components and cabin interiors are made from aerospace plastics, manufacturers reap the benefits of product application versatility.
“Rising Adoption of Additive Manufacturing Techniques”
The aerospace plastics sector is regarded as one of the global leaders in the early adoption of advanced technology, and additive manufacturing is no exception. Using computer-aided design files as input, additive manufacturing enables the direct conversion of raw materials into intricate 3D forms.
Aerospace and defense together are currently the top consumers of additive manufacturing due to the growing use of 3D printing to construct aircraft from designing to producing complex parts. New developments have also made it possible for additive manufacturing to produce a wide range of polymers, metals, and ceramic materials, giving aircraft manufacturers a great deal of material choice flexibility.
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What Can Adversely Affect the Demand for Aerospace Plastics?
“High Production Costs of Aerospace Plastics and Availability of Substitutes”
The high production costs of aerospace plastics will impede market expansion, as per pricing trends. Low annual production levels, fluctuations in crude oil prices, and the availability of substitutes such as silicon elastomer are hampering market value.
The lack of standardization in production technologies, as well as the restricted range of material options and the dearth of trained personnel, may act as major inhibitors to market growth. The high maintenance, repair costs, and overhaul services may pose a threat to market expansion.
Which Regional Market is the Most Profitable for Producers of Aerospace Plastics?
“Well-developed Aviation Industry Fueling Market Revenue Growth in Europe”
Europe accounts for over 40% share of the total market value. Europe has emerged as the most remunerative region for market players. This can be accredited to regular lobbying of aircraft production activities by the Advisory Council of Aeronautics Research.
The market is expanding as a result of the well-developed aviation industry and a rise in funding for updating or replacing the current airplanes with more fuel-efficient models.
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What Allows the United States to Hold a Prominent Market Share of Aerospace Plastics?
“Increase in Aviation Traffic across the United States”
The market in the United States is anticipated to have many potential prospects because of the increase in aviation traffic, ongoing investments to expand fleet and passenger capacity, and growing emphasis on improving the travel experience for passengers. Aircraft modification and the incorporation of aerospace plastics into various components are essential due to the growing usage of aircraft for a variety of defense and security objectives.
How is the Market for Aerospace Plastics Progressing in Germany?
“Availability of Professional Expertise to Design & Create Complex Aerospace Structures”
Market growth in Germany is attributed to the availability of professional expertise to design and create complex aerospace structures, an increase in the local supply of raw materials, and growing government investments in R&D.
Why are Providers of Aerospace Plastics Investing in Japan?
“Huge Demand for Fuel-efficient Aircraft in Japan”
Prevalent aircraft manufacturing trends such as enhanced consumer safety and the addition of attractive cabin designs collectively contribute to market expansion in Japan. Major international aircraft manufacturers have partnered with local aircraft producers in the country to further access the aerospace business.
The existence of numerous aircraft manufacturers in the country has increased the demand for aerospace composites. The market is being driven by huge demand for fuel-efficient aircraft, which would aid in lowering fuel consumption.
Which Aircraft Type will Reinforce Aerospace Plastics Industry Growth?
“Aerospace Plastics Widely Used in Commercial & Freighter Aircraft for Lowering Operating Costs and Preventing Maintenance Problems”
Based on aircraft type, the market is divided into commercial & freighter aircraft, military aircraft, rotary aircraft, general aviation, and others. Commercial & freighter aircraft account for 70% share of the global market.
Increasing adoption of air transport to reduce the time-to-market of products and expand global footprint generates demand for freighter aircraft. The uptake in domestic air traveling in developing countries creates an increasing need for commercial aircraft. Aerospace design challenges can be overcome because of the special properties of plastics that allow them to keep the desired shape.
One of the main areas of use for plastics in the aerospace industry is a freight and large passenger airplanes. By reducing weight and lowering the frequency of maintenance problems, the use of polymers in aircraft helps to minimize operating costs. Due to this, commercial and cargo airplanes could contain more plastic, according to aircraft producers.
Which Application is Expected to Generate Huge Revenue for Market Players?
“Introduction of Premium Airline Travel Fueling Demand for Aerospace Plastics in Cabin Interior Applications”
Based on application, the market is classified into cabin interiors, aerostructure, satellites, components, equipment, systems & support, propulsion systems, and construction & insulation components. The adoption of aerospace plastics in cabin interiors is increasing due to the huge demand for better, more user-friendly, and more aesthetically pleasing interiors. Several cabin components, including air ducts, cabin partitions, floor panels, and overhead luggage bins, are designed and produced using plastics.
Old airplane cabins can be retrofitted in a variety of ways, from individual seats to full cabins. As an alternative to buying new aircraft, operators are increasingly modifying current fleets. They are working to strike the ideal balance between price and beauty as a result. These considerations encourage the use of plastics in cabin applications because they provide financial and safety advantages that make them suitable for use in these settings.
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Top producers of aerospace plastics are making investments in the creation of advanced systems for integration in modern aircraft to supplement or improve their performance qualities, including safety. These initiatives subject businesses to various risks related to design accountability, the creation of new manufacturing equipment, increased capital and financial commitments, delivery timetables, and particular contractual requirements.
Major businesses are emphasizing quality control of novel products, supply chain management, and expanding their geographic reach to increase market share and boost revenues. Several methods are being used by major businesses, including strategic partnerships, enhancing product standards, as well as the creation, testing, and introduction of more efficient aerospace plastics following safety regulations.
- In March 2021, a carbon fiber reinforced plastic (CFRP) prepreg with outstanding flame retardancy and comparable mechanical qualities was invented by Toray Industries Inc.
Key Segments of Aerospace Plastics Industry Research
By Polymer Type :
- Polyetheretherketone (PEEK)
- Polyphenyl Sulfide (PPS)
- Polycarbonate (PC)
- Acrylonitrile Butadiene Styrene (ABS)
- Polymethyl Methacrylate (PMMA)
By Aircraft Type :
- Commercial & Freighter Aircraft
- Military Aircraft
- Rotary Aircraft
- General Aviation
By Application :
- Equipment, Systems & Support
- Cabin Interiors
- Propulsion Systems
- Construction & Insulation Components
By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- FAQs -
Increasing demand for new aircraft as part of fleet expansion is a major factor boosting aerospace plastics market expansion.
Europe accounts for 40% share of the global market for aerospace plastics.
Sales of aerospace plastics are forecasted to increase at a CAGR of 6% through 2033.
Worldwide demand for aerospace plastics is valued at US$ 15 billion in 2023.
The aerospace plastics market is estimated to reach US$ 27 billion by 2033.