Aerospace Composites Market Rising demand, Applications & Forecast 20 Aerospace PDF Format | Page 2

Aerospace composites market is also poised to grow due to increasing space exploration
projects by countries.
By product, aerospace composites market is segmented into carbon composites, metal
composites and others. Carbon composites are used due to their strength and light weight.
Metal composites finds its use owing to their hardness and strength.
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By end users, aerospace composites market is divided into three sectors viz. aviation, space
exploration, and defense.
Defense and space exploration industries share will increase in the forecast period because
of the growth witnessed in these sectors and heavy spending by many countries in
upgrading their defense capabilities.
Aviation industry has a substantial share in the market and will witness decent growth
owing to several factors such as expanding fleet size by airliners, emergence of low cost
carriers and increasing air cargo delivery.
North America aerospace composites market has a noteworthy share because of increasing
demand for the product from aircraft manufacturers and defense sectors.
Europe also has a considerable share in this market owing to high defense spending in
countries of western Europe. Aerospace composites market in Latin America will witness
considerable growth in the future because of emergence of low cost carriers in that region.
The presence of large aircraft manufacturing companies like Boeing and Lockheed Martin in
the U.S. is also increasing demand.in this region Asia Pacific has a substantial share of the
aerospace composites market owing to increasing demand for aircraft and helicopter parts,
mostly in China, India, and Singapore. Increasing defense spending by countries in this
region will drive the market in the future.
Key players in aerospace composites market are Hexcel Corporation, BASF SE, Huntsman
International LLC, Cytec Solvay Group, Finmeccanica, LMI Aerospace, Toray Industries, Ltd.,
Teijin Ltd., Toray Industries Inc., SGL-The Carbon Company, HITCO Carbon Composites, LEE
Aerospace, Argosy International LLC, and Koninklijke TenCate.
Source Report:
https://www.gminsights.com/industry-analysis/aerospace-composites-market
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