Aerospace Composite Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Global Aerospace Composite Market Size and Forecasts (2021-2031), Global and Regional Growth Opportunity Analysis, and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00004844
  • Category : Chemicals and Materials
  • No. of Pages : 150
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The aerospace industry is focusing on the use of innovative materials that helps in designing and developing durable, fuel-efficient, and lightweight components used in aircraft. These components are known as aerospace composites. Fiberglass, carbon fiber, and aramid are the three most used fiber types in manufacturing aerospace composites. These components display varied chemical compositions at both molecular and microscopic fiber levels. The various applications of these composite materials in the aerospace industry include interiors, rotors, engine blades, wide-body wings, brackets, nacelles, and single-aisle wings.


The aerospace composite market is expected to grow substantially during the forecast period. The growth can be attributed to its increasing applications in both commercial and military aircraft. Commercial and military aircrafts require durable and lightweight components. Composites are lightweight and exhibit great strength, which makes is suitable for a wide range of applications in aircraft production. In addition, the aerospace composite market is fueled by factors including high-impact resistance and weight reduction. Also, the enormous use of aerospace composites in exterior and interior applications is predicted to bolster the market growth. Although, the aerospace composite market growth may be obstructed by factors such as high cost of composites together with safety limitations. The aerospace composite’s raw material costs, manufacturing, and processing are high as compared to the traditional materials, which may slightly restrain the aerospace composite market growth.


The “Global Aerospace Composite Market Analysis to 2030” is a specialized and in-depth study with a major focus on the global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed market segmentation by product type, application, and geography. The global aerospace composite market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of aerospace composite worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the aerospace composite market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in aerospace composite market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global aerospace composite market, which helps understand the entire supply chain and various factors affecting the market growth.


The global aerospace composite market is segmented on the basis of product type and application. Based on product type, the aerospace composite market is segmented into carbon fiber composites, glass fiber composites, and others. The market is classified as commercial and general and commercial aircraft, military aircraft, helicopters, and others on the basis of application.

Based on product type, carbon fiber composites accounted for a significant share which can be attributed to their extensive use in aerospace applications. The characteristics of carbon fiber composites, including anti-corrosion, low thermal expansion, high stiffness, high tensile strength, as well as high strength-to-weight ratio, are fueling its demand in the aerospace industry. Carbon fiber composites are generally used in various aerospace applications such as engine nacelles, wings, floorboards, fan casings, fuselage, and interior components. The use of carbon fiber composites in aerospace helps in reducing the weight of the aircraft components while maintaining the required strength. This further helps in saving time and helps in weight reduction.


The report provides a detailed overview of the global aerospace composite market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. North America is foreseen to account for a substantial share of the market. In aerospace manufacturing, this region is one of the leaders, with the presence of significant commercial and military aircraft manufacturing players in the US and Canada. Further, the region has the presence of technologically-advanced infrastructure, which further accelerates the growth of the market. In Europe, France is a major aerospace manufacturer which also accounts for a major portion of the global aerospace composite market share.

The Asia Pacific is forecasted to show prominent growth during the forecast period. The region is experiencing high growth in its commercial aviation industry due to an increase in the number of air passengers. The region includes a number of developing countries experiencing high growth in the aviation sector. China and India are expected to exhibit high demand during the forecast period with both countries undertaking work to increase the size of their aircraft fleet


Some of the key players operating in the aerospace composite market include, General Electric, Hexcel Composites, SGL Carbon, Solvay S.A., Toray Advanced Composites, Teijin Limited, Owens Corning, VX Aerospace Corporation, Unitech Aerospace, Albany Engineering Composites, Mitsubishi Chemical Holdings, Spirit AeroSystems, Honeywell International Inc., Toho Tenax and Morgan Advanced Materials, among others.

May, 2023: Munich-based Lilium company received funding worth US$ 35 million to prepare for serial production. The Lilium Jet is constructed using carbon fiber composites and is planned to begin operating regionally from 2025.

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.


Global Aerospace Composite Market Report Analysis

Global Aerospace Composite Market

  • CAGR (2023 - 2031)
  • Market Size 2023
    US$ XX Million
  • Market Size 2031
    US$ XX Million

Report Coverage

  • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Key future trends
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Industry landscape and competition analysis & recent developments
  • Detailed company profiles
  • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

  • General Electric
  • Hexcel Corporation
  • Materion Corporation
  • Mitsubishi Rayon Co. Ltd
  • Renegade Materials Corporation
  • Royal Ten Cate
  • SGL Group
  • Solvay Group
  • Teijin Ltd.

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Global Aerospace Composite Market Report Scope

Report Attribute Details
Market size in 2023 US$ XX Million
Market Size by 2031 US$ XX Million
Global CAGR (2023 - 2031) XX%
Historical Data 2021-2022
Forecast period 2024-2031
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • General Electric
  • Hexcel Corporation
  • Materion Corporation
  • Mitsubishi Rayon Co. Ltd
  • Renegade Materials Corporation
  • Royal Ten Cate
  • SGL Group
  • Solvay Group
  • Teijin Ltd.
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    This text is related
    to segments covered.

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    This text is related
    to country scope.

    The List of Companies

    1. General Electric
    2. Hexcel Corporation
    3. Materion Corporation
    4. Mitsubishi Rayon Co. Ltd
    5. Renegade Materials Corporation
    6. Royal Ten Cate
    7. SGL Group
    8. Solvay Group
    9. Teijin Ltd.
    10. Toray Industries Ltd.

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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