Aerospace Composites Market Size Worth US$ 73.36 Billion by 2032 | CAGR: 12.3%

The global aerospace composites market size is expected to reach USD 73.36 billion by 2032, according to a new study by Polaris Market Research. The report “Aerospace Composites Market Size, Share, Trends, Industry Analysis Report – By Fiber Type (Glass Fiber, Carbon Fiber, Ceramic Fiber, and Others), By Matrix Type, By Manufacturing Process, By Aircraft Type, and By Region; Segment Forecast, 2023–2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The growing expansion of the aerospace industry propels the aerospace composites market, driven by increasing demand for high-quality and effective aerospace composites in the marketplace. In January 2023, Hexcel, a composite materials supplier, announced a 29% rise in the fourth quarter sales when compared with the same month of the previous year due to the increasing consumption of aerospace composites.

The rising disposable income and increasing demand for national and international air travel, driven by growing road traffic, affordability, and availability of established infrastructure, drive aircraft production, supporting the aerospace composites market growth. In April 2024, ARRE Solutions acquired USD 34 million in its fundraising session. The investment is expected to boost its strategic expansion activities in aerospace and consumer merchandise.

The potential to reduce emissions and promote engine performance by lowering the weight of aerospace composites is anticipated to stimulate their adoption by aircraft manufacturers. In November 2023, Merlinhawk Aerospace Pvt. Ltd. announced that it had signed a joint venture agreement with Vega Composites S.r.l., Italy to establish a facility in the defense corridor in Tamil Nadu, India for the design and manufacturing of advanced composites material-based products.

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The growing adoption of higher operational shelf-life composites and lightweight equipment for effective aerospace performance is projected to facilitate the aerospace composites market growth in the coming years. The changing industrial needs are encouraging firms to design and manufacture effective, functioning aerospace equipment. In January 2024, the NABUCCO project developed user-friendly and buckling-based composite aerospace structures.

The rising focus of industrial players on developing sustainable and operationally efficient aerospace composites is stimulating investments, which can assist in designing advanced aerospace equipment. In August 2023, Aerospace Composites Solutions expanded its business in Kentucky with an investment of nearly USD 16.8 million.

Aerospace Composites Market Report Highlights

• In terms of fiber type, the carbon fiber segment is anticipated to witness the highest growth rate during the forecast period due to its potential applications in interior and aircraft structures.
• Based on matrix type, the polymer matrix composites segment accounted for the largest market share in 2023, owing to the rising demand for sustainable and fuel-efficient aircraft.
• The commercial segment, by aircraft type, is projected to experience the largest share in 2023, due to the increasing demand for aviation and the growing tourism industry.
• Asia Pacific is projected to register the highest growth rate during the forecast period, attributable to the rising disposable income.
• Absolute Composites, Aernnova Aerospace, Avior Produits Intégrés, Collins Aerospace, FDC Composites, and General Dynamics are among the global market players.

Polaris Market Research has segmented the aerospace composites market report on the basis of fiber type, matrix type, manufacturing process, aircraft type, and region.

By Fiber Type Outlook (Revenue – USD billion, 2019–2032)

• Glass Fiber
• Carbon Fiber
• Ceramic Fiber
• Other Fiber Types

By Matrix Type Outlook (Revenue – USD billion, 2019–2032)

• Polymer Matrix Composite
• Metal Matrix Composite
• Ceramic Matrix Composite

By Manufacturing Process Outlook (Revenue – USD billion, 2019–2032)

• AFP/ATL
• Lay-up
• Resin Transfer Molding
• Filament Winding
• Other Processes

By Aircraft Type Outlook (Revenue – USD billion, 2019–2032)

• Commercial
• Business & General
• Civil Helicopter
• Military Aircraft
• Others

      By Regional Outlook (Revenue – USD billion, 2019–2032)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Aerospace Composites Market Report Scope