Aerospace Composites Market Rising demand, Applications & Forecast 20 Aerospace PDF Format

Global Aerospace Composites Market forecast &
competitive market share, 2016 - 2024: Global Market
Insights, Inc.
Global Aerospace Composites Market size will witness robust growth from 2016 to 2024.
High growth in aviation industry worldwide, increased spending in space exploration
projects and defense sectors by countries will propel the market in the coming years.
According to International Air Transport Association (IATA), the number of air passengers
will likely double from its present value of around 3.8 billion in 2016 to more than 7 billion in
2035. Global air traffic will also grow by around 4% annually during the forecast period
requiring around 30,000 new aircrafts.
Aerospace composites market will also grow due to the increased spending by countries in
their defense sectors, mostly in military aviation. Due to growing instability in many regions
of the world, countries are spending more on defense R&D and manufacturing. U.S. tops the
world in terms of defense spending and is followed by China.
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