+1-888-308-5802     
News Contact Us

Aerospace Composites Market Size in Aramid Fiber Is Estimated to Grow At A CAGR Of 7% over 2024

Author : Ronak Bora | Published Date : 2019-06-03 

The features such as temperature stability and durability will further support the aerospace composites market growth over the coming year. Aramid fiber will grow at over 7% CAGR from 2017 to 2024 owing to the provision of all-weather operation of commercial aircrafts and an enhanced vision system.

In addition, the robust urbanization & industrialization trends across the continent, along with increase in income levels of mass population have further led to considerable upsurge in the APAC aerospace composites market demand. Besides commercial projects, the regional government & private entities are also witnessed making huge investments in the defense and civil aerospace sector for upgradation. Backing with an instance, the military aviation sector of India is likely to capitalize USD 35 billion in the timespan of next twenty years, to refurbish the aircrafts with technical requirements, quality control, and safety features. This is set to generate huge demand for aerospace composites for renovating or manufacturing interior & exteriors of aircrafts.

Request for Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/1358

Moreover, the growing preferences toward cost effective, lightweight, and sturdy components with exceptional processing efficiency have further enhanced the scalability of composites in aerospace applications – a trend that is phenomenally driving the commercialization matrix of aerospace composites industry. As per a report by Global Market Insights, Inc., in 2016, aerospace composites market was estimated to be worth USD 2.5 billion and is further projected to cross a valuation of USD 5 billion by 2024.

Powered by the improving economic stability and heavy government investments in improving the aircraft infrastructure, global aerospace composites market has witnessed a rather commendable growth over the recent years. The perpetually rising demand for commercial & military aircrafts has massively propelled the use of composites in the aircrafts, both in the interior as well as the exterior applications.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/1358

Aerospace composites market share is slated to extensively proliferate in the commercial sector, given the extensive use of carbon fibers in these aircrafts. As per estimates, aerospace composites market share from commercial aircrafts generated revenue over USD 1.4 billion in 2016, and is further projected to dominate the industry landscape, holding 52% of the overall share in the coming seven years. The increasing demand for commercial aircrafts due to rise in passenger traffic travelling by air, especially across the Asia Pacific belt have carved a lucrative roadmap for the regional aerospace composite industry.

Speaking along similar lines, such innovations and advancements in aerospace materials are anticipated to be the chief parameters underlining the strategic landscape of aerospace composites market in the coming years. In terms of volume, industry experts claim global aerospace composites industry size to exceed 70.5 kilo tons by 2024.

In 2016, the company also launched its all-carbon composite rocket plane know as SpaceShipTwo or VSS Unity. Recently, the company was also in news for having unveiled & flown its first of two new experimental aircrafts called Model 401. Allegedly, with reference to this project, the company demonstrated advanced and low-cost manufacturing techniques to other industry partners as well the US government.

Speaking of prominent players, Scaled Composites, one of the renowned names in aerospace composites market, is currently developing Stratolaunch – the world’s largest aircraft by wingspan. As per sources, the entire aircraft structure is developed with carbon composites components, to enable the aircraft to be of high strength, yet lightweight.

Airbus, Boeing, BASF, E. I. du Pont de Nemours, Huntsman International, Lee Aerospace, and Hindustan Aeronautics are among the prominent players in the aerospace composites market. Other notable players include ACT Aerospace, Gurit Holding AG, Hexcel, Cytec Industries, Teijin Ltd, and Axioms Materials.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

Related News

Bitumen Market will experience considerable growth up to 2025

Published Date: 2019-11-13         Author: Ronak Bora

Global Market Insights has recently published a study titled ‘Global Bitumen Market Research Report’. in this report, analysts have provided a detailed evaluation of the global Bitumen market. the report is inclusive of a completely comprehensive study of the Bitumen market alongside all... Read More

Fluorspar Market Growth Between 2019 to 2024 - By Type, Raw Material, Application, Companies, Region-Forecasts

Published Date: 2019-11-13         Author: Ronak Bora

Global Market Insights has recently published a study titled ‘Global Fluorspar Market Research Report’. in this report, analysts have provided a detailed evaluation of the global fluorspar market. the report is inclusive of a completely comprehensive study of the fluorspar market alongsi... Read More

Phosphate Rock Market: What are the main applications and challenges?

Published Date: 2019-11-12         Author: Ronak Bora

The research study on ‘Modest recovery in Global Phosphate Rock Market’ is inclusive of a detailed summary of this industry. A highly focused approach on the subjective research has been undertaken, with the description of product scope and elaborate industry insights and outlook until 2... Read More

© 2019 Fractovia. All Rights Reserved