Aerospace Polymer Composites Market to Develop Rapidly by 2025
Light
weight, high reliability, superior aerodynamic performance, stealth,
and all weather operation are important requirements of aerospace
structures such as spacecraft, commercial aircraft, business
aircraft, and specific military aircraft. Composite materials are the
ideal choice of materials that meet the demands of the aerospace
industry. Recent advancements and developments in composite
technology, which uses fiber reinforced polymer composites, have
positively affected the aviation sector.
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Fiber-reinforced
polymer composites are technically advanced materials, which are
resistant to fatigue and corrosion. They are also light in weight.
Polymer composites provide high strength-to-weight and
stiffness-to-weight ratios. Thus, aerospace engineers and aircraft
designers increasingly prefer polymer composite materials over other
composite materials, as these make aircraft much stronger, lighter,
and more fuel efficient.
Unfolding
superior properties and advantages of strong and stiff reinforcements
such as carbon fiber along with recent advancements in polymer
research to manufacture high performance resins as matrix materials
have helped overcome the challenges presented by the complex designs
of modern aircraft. Advanced polymer composites are employed on a
large scale in R&D initiations by major OEMs. Governments across
the world are also increasingly funding the development of military
fighter aircraft, general aviation, helicopters, satellites, launch
vehicles, and missiles. This highlights the immense potential of
polymer composite materials in the aerospace industry.
Based
on fiber, the aerospace polymer composites market can be segmented
into carbon, glass, ceramic, and aramid. In terms of matrix, the
market can be bifurcated into thermoplastic (PPS, PEEK) and
thermosets (epoxies, phenolic, polyesters, and polyimides). Based on
aircraft type, the aerospace polymer composites market can be
segregated into general aviation, defense aircraft, space, and
helicopters. In terms of structure, the market can be classified into
laminate composites and sandwich composites. Based on application,
the aerospace polymer composites market can be split into interior
and exterior.
Increased
military expenditure across major economies such as U.S., China,
Western Europe and UAE, is one of the major drivers for aerospace
polymer composites market. And also the robust growth of aerospace
industry due to increasing demand for air transportation are expected
to drive the growth of aerospace polymer composites market in coming
years. Technological advancements and significant investments in R&D
by OEMs for the manufacture of aerospace structural parts are
expected to boost the aerospace polymer composites market.
In
terms of geography, North America holds large share of the global
aerospace polymer composites market due to the presence of major
aircraft fleet such as AIRBUS, Boeing, and Lockheed Martin. Growth of
the fleet is anticipated to directly increase the consumption of
aerospace polymer composites. Asia Pacific and Europe are also key
regions of the market. The aerospace polymer composites market in
Asia Pacific is anticipated to expand significantly during the
forecast period owing to the expansion in the aerospace industry and
rise in demand for various types of aircraft in countries such as
India and China. Latin America and Middle East & Africa are
estimated to account for relatively small share of the global
aerospace polymer composites market.
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Key
players operating in the global aerospace polymer composites market
include AIRBUS, BOEING, Hexcel, and ATC Aerospace.
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