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Aerospace Composites Market

Aerospace Composites Market

Aerospace Composites Market Insights on Assessment of Demand Opportunity by Fiber Type, Matrix, Application, Manufacturing Process, Aircraft during 2021-2031

Aerospace Composites Market

Market Snapshot

Fact.MR’s aerospace composites industry analysis shows that the global market was valued at US$ 32 Bn in 2020, and is projected to top US$ 56 Bn by 2031, expanding at an impressive CAGR of 9% across forecast period. Sales of carbon fiber composites are projected to reach a valuation of around US$ 22 Bn, increasing at a CAGR of 9% through 2031, with that for glass composites surging at 8%.

Key Points Covered in Aerospace Composites Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • Assessment by Product Grade / Purity / Formulation Standards
  • Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
  • Leading Export - Import Destinations for Aerospace Composites
  • COVID-19 Impact on Sales of Aerospace Composites and How to Navigate
  • Recommendation on Key Winning Strategies

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Consumption Analysis of Aerospace Composites from 2016 to 2020 Vs Demand Outlook for 2021 to 2031

As per Fact.MR - a market research and competitive intelligence provider, the global market for aerospace composites valued at around US$ 32 Bn in 2020, and is expected to surge at a CAGR of 9% across the forecast period through 2031.

High demand for composite materials from the aerospace industry and rising need for fuel-efficient aircraft are some of the major factors propelling growth of the market.

Composite materials are used for different purposes in the aircraft industry. The benefit of composites is that they can sustain their identities and do not join completely with each other. On mixing, these materials create a hybrid material that has better structural properties, which can be used for aerospace components.

The aerospace industry has broadly adopted carbon fiber composites for various applications such as fuselage, floorboards, engine nacelles, fan casings, and interior parts. Evolution in the manufacturing technology of carbon fiber composite parts is also driving their use in aerospace applications.

Composite materials are also used extensively as sandwich structures in interior and exterior applications in the aerospace industry.

The low weight and high tensile strength of composites increase fuel efficiency, reduce maintenance costs, and allow OEMs (original equipment manufacturers) to comply with stringent environmental regulations in Europe and North America. Newer, advanced aircraft such as Airbus A350 XWB and Boing Dreamliner 787 consist of 50% weight of airframe made with composite materials.

It is owing to these factors that demand for aerospace composites is on the rise and is expected to surge further over the coming years.

What are the Key Opportunities on Offer for Aerospace Composite Manufactures?

Factors such as growing air passengers, rise in tourism, emergence of low-cost carriers, and growing need for aircraft fuel efficiency are expected to propel market demand for aerospace composites.

Manufacturers are heavily investing in research & development to innovate light-weight and cost-effective composites with high strength-to-weight ratio and excellent impact strength for the aerospace sector.

Increasing space and research activities have boosted the use of aerospace composites in making fuel tanks and the structural body of space-launching vehicles.

Composites find applications in spaceflight vehicles, satellites, and payloads, and the launch of vehicles that are used to get these to space. Solid rocket motors and pressure vessels for fuel and gas storage are typically reinforced with composites due to their superior strength and ability to withstand extreme temperature.

Huge expenditure by governments and continuous enhancements by aerospace composite manufacturers such as Toray Industries, Ltd. and Payload Aerospace S.L. are boosting the use of aerospace composites for the manufacturing of space craft.

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What are the Restraints being Encountered by Aerospace Composite Providers?

The aerospace composites industry is capital-intensive. Owing to the current pandemic, largest end users of aerospace composite materials such as commercial & business aircraft manufacturers, rotary aircraft manufacturers, and helicopter manufacturers have been witnessing slow progress. Some OEMs have low liquidity with minimal operating cash flows.

Furthermore, massive drop in market capitalization has led to industry consolidation. Without revenue, OEMs and their suppliers are expected to face a liquidity crunch soon. The biggest challenge for the aerospace industry would be to ensure undisrupted financial flow to avoid the liquidity crunch.

Although composite materials are widely used in the aerospace industry, high manufacturing cost for their production has hampered the growth of the market. Difficulty in repairing composites compared to metallic structures is also restraining the growth of market.

In addition, carbon fibre-reinforced composites are non-biodegradable and do not decompose in landfills. Recycling carbon fiber composites is very difficult and requires a lot of energy. Thus, long-lasting composite scraps badly impact the environment and act as a restraint for the growth of market.

Which Region Offers the Largest Opportunity for Aerospace Composite Suppliers?

North America holds over 40% revenue share for aerospace composites owing to the presence of a mature aerospace industry in the region. Factors such as significant R&D investments, high air travel frequency, cheaper air travel rates, and presence of major aerospace companies such as Boeing and Lockheed Martin boost market revenue in the region.

In Europe, the market for aerospace composites is expected to rise at a CAGR of 7% across forecast period. This high demand can be attributable to the presence of big aerospace and defence companies in the region. Countries such as France, Germany, and the UK are major aircraft component manufacturers.

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Country-wise Analysis

Why is the U.S. Expected to Drive Most Demand for Aerospace Composites?

In the U.S., aerospace composites revenue was estimated at around US$ 9 Bn in 2020. Demand is expected to surge further across the forecast period.

Increasing demand for aerospace composites from commercial aircraft coupled with rising defence activities has been driving the market in the country. Increasing investments in R&D and rising air travel will further nudge growth of aerospace composites revenue.

What are the Growth Opportunities for Aerospace Composite Suppliers across China?

In China, revenue from aerospace composites is expected to top US$ 10 Bn by 2031, expanding at a CAGR of 8%.

China has shown significant growth in the aerospace composites market, owing to their use in the manufacturing of aircraft. Boeing forecasted that China's carriers will need 8,090 new planes through 2038, further raising demand for aerospace composites.

Increase in the number of aircraft will boost demand for aerospace composites, and the industry will enter a new phase of development over the coming years.

Category-wise Analysis

Why is Demand for Carbon Fiber Aerospace Composites High?

Carbon fibre composites account for 40% market share, mainly attributed to its high tensile strength, excellent stiffness, low weight, high chemical resistance, and low thermal expansion.

Carbon fibre composites are prominently used in the manufacturing of fuselages, wings & winglets, and vertical & horizontal stabilizers. These factors make carbon fibre composites the most demanded across regions.

Why Do Commercial Aircraft Hold the Largest Market Share for Aerospace Composites among End Uses?

Commercial aircraft dominated global aerospace composites revenue due to high demand from commercial aircraft manufacturers such as Airbus and Boing.

Commercial aircraft use composite materials in large quantities. Lightweight property combined with high tensile strength of the aramid honeycomb core increases fuel efficiency, reduces maintenance costs, and allows OEMs to comply with the stringent environmental regulations, especially those stipulated in Europe and North America.

These factors will further increase demand for aerospace composites from commercial aircraft manufacturers over the coming years.

Why Does Exterior Application of Aerospace Composites Accounts for Major Share in Terms of Value?

Owing to their superior attributes, such as strength, flexibility, durability, stability, low weight, and resistance to heat, temperature, and moisture, aerospace composites are mainly used in exterior applications.

Aerospace composites such as carbon fibre composites are used to make airframe structures such as landing gear, leading and trailing edges, engine nacelles, undercarriage components, fuselages, and wings. Besides this, aerospace composites are also used in engine components and propulsion systems of aircraft.

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Competitive Landscape

Major players in the market are focused on adopting merger and acquisition (M&A) strategies to expand their product portfolios. Major companies are involved in adopting various inorganic and organic strategies to increase their foothold in the industry. Key manufacturers are also investing in research & development to innovate lightweight and cost-effective composites for the aerospace sector.

Some of the key developments are

  • In December 2019, Solvay and SGL Carbon entered into a joint development agreement (JDA) to bring to market the first composite materials based on large-tow intermediate modulus (IM) carbon fiber. These materials address the need to reduce costs and CO2 emissions, and improve the production process and fuel efficiency of next-generation commercial aircraft.
  • In January 2019, Teijin Limited entered into an agreement with Boeing for the supply of unidirectional pre-impregnated tape (TENAX TPUD). This helped the company in its medium-term growth in the aircraft business.
  • In February 2019, Teijin Limited acquired Renegade Materials Corporation, a supplier of highly heat-resistant thermoset prepreg for the aerospace industry in North America. This helped the company solidify its position as a leading provider of solutions for aerospace applications.

Aerospace Composites Market Report Scope

Report Attribute


Forecast Period


Historical Data Available for


Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Countries Covered

  • USA
  • Canada
  • Germany
  • France
  • the UK
  • Russia
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Australia
  •  Middle East
  • Latin America

Key Market Segments Covered

  • Fibre
  • Matrix
  • Application
  • Manufacturing Process
  • Aircraft
  • Region

Key Companies Profiled

  • Solvay
  • Toray Industries, Inc.
  •  Mitsubishi Chemical Holdings
  • Hexcel Corporation
  • Teijin Limited
  • SGL Group
  • Spirit AeroSystems

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Key Market Segments Covered in Aerospace Composites Industry Analysis

  • On the Basis of Fibre:

    • Carbon Fibre Aerospace Composites
    • Ceramic Fibre Aerospace Composites
    • Glass Fibre Aerospace Composites
  • On the Basis of Matrix:

    • Polymer Matrix
    • Ceramic Matrix
    • Metal Matrix 
  • On the Basis of Application:

    • Aerospace Composites for Interiors
    • Aerospace Composites for Exteriors
  • On the Basis of Manufacturing Process:

    • AFP (Automated Fibre Placement)/ATL (Automated Tape Layup)
    • Layup
    • Resin Transfer Moulding
    • Filament Winding
  • On the Basis of Aircraft:

    • Aerospace Composites for Commercial Aircraft
    • Aerospace Composites for Business & General Aviation
    • Aerospace Composites for Civil Helicopters
    • Aerospace Composites for Military Aircraft

Aerospace Composites Market- Scope of Report

A recent study by Fact.MR on the aerospace composites market offers a 10-year forecast for 2021 to 2031. The study analyses crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering aerospace composites.

The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies manufacturing aerospace composites, along with their product portfolios, key strategies, and SWOT Analysis, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including revenue growth, and revenue generation across the globe.

A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the revenue of aerospace composites market during the forecast period.

Key Questions Answered in Report

  • Which are the most lucrative markets for aerospace composites?
  • Which factors will impact the growth of aerospace composites market?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the aerospace composites industry?
  • What are the winning strategies of stakeholders in the market?

Market Size Evaluation

The market has been analysed for each market segment in terms of volume (`000units), and value (US$ Mn).

Market estimates at global and regional levels for aerospace composites are available in terms of “US$ Mn” for value and in ‘’’000 units for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the revenue perspective in the global aerospace composites market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.

Country-specific valuation on revenue for aerospace composites has been offered for each regional market, along with market scope estimates and forecasts, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value for key countries has also been included in the report.

Competition Analysis

The report sheds light on leading manufacturers of aerospace composites, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering aerospace composites has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the aerospace composites market.

- FAQs -

The global aerospace composites market topped US$ 32 Bn in 2020, and is expected to reach a valuation of over US$ 56 Bn by 2031.

Key factors driving demand for aerospace composites are growing aviation industry coupled with rising demand for fuel-efficient aircraft, and propelling space exploration and defence industry

Ratings on the basis of market share, market reach, clientele, etc., reveal that major players manufacturing aerospace composites include Cytec Industries, Hexcel, Owens Corning, Solvay, Kaneka Corporation, and Argosy International.

North America, with the highest market share of 40%, will significantly contribute to revenue growth of aerospace composites over the coming years.

China’s market for aerospace composites is estimated to expand at a CAGR of 8% across forecast period.

Demand for aerospace composites in the U.S. was estimated at around US$ 9 Bn in 2020.

Carbon fibre composites account for 40% market share across the globe.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.