Carbon fiber reinforced polymer (CFRP) structures are tougher than aluminium counterparts of the same length
ensuring more passive safety and greater resistance to impact damage. Ceramic Matrix composites are used in
manufacturing of engines as they can sustain high temperatures and are thus fire resistant and durable.
Application-wise, the market can be segmented into commercial aircrafts, business and general aviation,
defence aircrafts, helicopters, and spacecrafts. Commercial aircrafts are expected to emerge as one of the key
application domains. Growth in commercial aircrafts is presumed to be fuelled by military applications given the
rising concern over security issues, which translates into increased spending on capacity building. Business and
general aviation are expected to witness increased use of composites because of the increased demand for
business jets, single aisle and twin aisle aircraft.
Key regional markets include developed nations such as the U.S., Canada and European countries such as France,
Germany and UK. Asia Pacific countries such as are China, India and Singapore are witnessing considerable
demand, which can be attributed to the combination of the swift growth in composite processing and need for
aircraft production at higher profitability.
Key players that operate in the industry are Cytec Industries Inc., Hexcel Corporation, E.I. Du Pont De Nemours,
Toray industries, SGL Group, Owens Corning .The players are focusing on expansion as a key objective in order
to boost the market share and penetration in emerging economies. Other strategies in the sector include new
product development, partnerships, joint ventures, technology agreements and collaborations for research
purposes.
See More Reports of this Category by Million Insights @
https://www.millioninsights.com/industry/technology