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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