Aerospace Composites Market
accelerate the pace of gains for the global aerospace composites market. Using ultra lightweight composite materials can help aircrafts increase their payloads and fuel-carrying capacity. In the military sector, the features is considered indispensable to increase the mission duration and loiter time for aircrafts. In addition, using lightweight composites can help the sector tackle carbon emissions better.
“ The aerospace industry accounts for barely 3 % of the global carbon emission. However, there is forecast for the same to increase in the coming years, thus affecting the global climate,” said a lead TMR analyst.“ As composite materials are helpful in lowering carbon emission, they are increasingly preferred by aircraft manufacturers,” he added. Besides this, the market is gaining impetus from the rising number of airline passengers. The increasing demand from military and space technology sectors will boost the market as well.
High Cost of Manufacturing to Hinder Market
On the downside, the high cost of manufacturing composite materials is one of the leading causes restraining the market. Expenditure incurred in the process is especially high during designing and fabrication. In addition, the cost of carbon fiber composites, which are widely used across the aerospace industry, will continue remaining high due to the use of high-grade carbon fibers in them.
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Existing challenges of transferring knowledge and skills due to the steady decline in aerospace manufacturing employment will negatively impact the market as well. The growing shortage of trained individuals and aging of the existing workforce pose critical challenge to the overall aerospace composites market. Nevertheless, with advancements in manufacturing techniques and the recent developments of software tools will help the market pace up in the near future.
This review is based on a TMR report, titled“ Aerospace Composites Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016- 2024.”
The report segments the global aerospace composites market as: Aerospace Composites Market – Product Type Analysis
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