Global Defence Aircraft Materials Market - Global Market Shares, Forecasts and Trends (2018 - 2023)
High Growth of Composite Materials Section
The global aircrafts composites market is expected to register a CAGR close to 7% during the forecast period. Demand for fuel efficient and long haul aircrafts, are the major driving factors for the carbon fiber composite industry. Use of carbon fiber composites in wings, can reduce the weight of the aircraft by 50,000 pounds. It offers superior strength to weight ratio, high chemical resistance, high stiffness, low thermal expansion, and its mechanical properties can be tailored based on application. The use of composite materials in commercial transport aircraft is attractive because reduced airframe weight enables better fuel economy, and therefore, lowers operating costs. Reduced maintenance and longer design life, fewer parts, and reduced tooling and assembly costs are some of the reasons, which drive the market for carbon fiber in the aerospace industry. Initially, composite materials were used only in secondary structure, but as knowledge and development of the materials has improved, their use in primary structure, such as wings and fuselages has increased. Thus, there is increasing penetration of carbon fiber in commercial aircraft (B787 and A380), wind turbine blades, and other aerospace applications. However, the strict performance requirements of composites in aerospace applications lead to certification barriers and tighter manufacturing tolerances than those associated with other composites applications. This in turn leads to higher prices for aerospace parts. The other restraints identified in the market include difficulty in test detection, need for specialized repair techniques.
Key Players – Constellium, ATI, AMG N.V., Airbus, SABIC's Innovative Plastics, Henkel, Aleris, Toray Industries among others.
Key Developments in the Market
February 2018: Toho Tenax launched high-tensile, highly shock-resistant hybrid prepreg combining carbon fiber and CNT technology.
January 2018: Toray planned to expand production facilities for Ultrasuede®
November 2017: ADEKA Corporation and GH Craft developed world's first fiber-to-composite direct molding process.
Reasons to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Detailed analysis on the product type that is expected to dominate the market
Detailed analysis on the regions that are expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
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