America Aerospace Composites Market Size
| Study Period | 2019-2029 |
| Market Size (2024) | USD 8.71 Billion |
| Market Size (2029) | USD 13.71 Billion |
| CAGR (2024 - 2029) | 9.50 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
America Aerospace Composites Market Analysis
The America Aerospace Composites Market size is estimated at USD 8.71 billion in 2024, and is expected to reach USD 13.71 billion by 2029, growing at a CAGR of 9.5% during the forecast period (2024-2029).
Aerospace composites provide superior performance characteristics, including resistance to corrosion, fatigue, and high-temperature environments. These advantages make composites an attractive choice for critical aerospace applications, ensuring the longevity and reliability of aircraft components. The market is primarily driven by the growth in demand for air travel and aerial connectivity in North America and Latin America, which has encouraged airlines to introduce new routes. This has driven airline operators to initiate fleet modernization and fleet expansion programs, thereby driving the demand for the integration of crucial components and aerostructures made from aerospace composites. Moreover, the development of advanced materials (lightweight), as well as the introduction of new manufacturing technologies like 3D and 4D printing into the aerospace sector, is anticipated to support the growth of the market. However, high capex requirements and stringent regulatory framework deter the entry of new players and also make the existing market players vulnerable to economic disruptions and cyclic revenue patterns.
America Aerospace Composites Market Trends
Commercial Aircraft Segment to have the Largest Market Share During the Forecast Period
According to the IATA report titled Airport Technology Roadmap to 2050, new commercial aircraft will still be revolutionary developments with a traditional tube-and-wing configuration. From 2035 onwards, the industry is expected to witness revolutionary changes in aircraft parts. The new designs include strut-braced wings, blended wing bodies, and battery-electric aircraft. The growth in demand for air travel in North America and Latin America for tourism, personal, and business travel has led to rapid growth in air passenger traffic in the region, which is fueling the expansion plans (fleet as well as route network) of various airlines. The fleet modernization plans of airlines are generating demand for newer generation commercial aircraft like Boeing 787, Boeing 777X, Airbus A320 family, and Airbus A350XWB, among others. The B787 is made of 50% composite materials (by weight), whereas the B777X will have the largest composite aircraft wings in the world. Also, the primary structures of the A320 are of composite construction with aramid fiber (AFRP), glass fiber (GFRP), and carbon fiber (CFRP) reinforced plastics, whereas the wing structures and fuselage of A350XWB are made of CFRP. The growing investments to decrease the weight of the aircraft to minimize the fuel burn are anticipated to increase the investments into composites in commercial aircraft. To achieve this goal, various component manufacturers of wing structures, thrust reversers, aircraft nacelles, and engine components are incorporating composite materials. For instance, in November 2021, Triumph Group was awarded a long-term contract with Boeing to manufacture air distribution system composite ducting and composite cockpit assemblies for the 777X aircraft. Additionally, Triumph Group will provide the thermal-acoustic primary insulation systems for the B737 MAX, B767 Freighter, and B777.
North America will Dominate the Market During the Forecast Period
The North American region currently dominates the market and is expected to continue its dominance during the forecast period. Fleet expansion and modernization plans, as well as an increase in operating routes by the airlines, are propelling new aircraft procurement. Also, under military fleet modernization plans, the US Air Force plans to acquire a wide range of military aircraft in the coming years. The US government in February 2020 announced its plan to acquire the F-15EX fourth-generation version of the F-15 fighter (F-15 airframe is made from 2% composites, which include boron/epoxy empennage skins and a carbon fiber/epoxy speed brake). These aircraft will complement the country’s fleet of F-35 fighter jet aircraft (approximately 40% made from composites), as well as combat drones planned to enter service in the coming years. In addition to these investments, the government is also investing in space exploration programs. For instance, in December 2022, Velocity Composites entered the US market with the signing of an agreement with GKN Aerospace. To support the expansion into US markets, Velocity Composites plans the development of a 40,000-square-foot advanced manufacturing facility near the GKN site in Alabama (US). The new facility will build and supply all the composite material kits for GKN’s aerostructures.
America Aerospace Composites Industry Overview
The American aerospace composites market is consolidated and dominated by a handful of players, including Hexcel Corporation, SEKISUI CHEMICAL CO. LTD, Solvay SA, Precision Castparts Corp., and COTESA GmbH. Avcorp Industries Inc. and Hexcel Corporation support the majority of military and commercial aircraft programs. Additionally, COTESA GmbH provides composite parts to all commercial, military, and space programs of Airbus. Companies are entering into partnerships for the development of lightweight and high-strength materials for aerospace applications. For instance, in August 2023, the US Air Force awarded a USD 1.6 million contract to Machina Labs to accelerate the development of the company’s robotic technology for the high-rate production of composites. Machina Labs will focus on creating metal tooling for fast-cure, out-of-autoclave composite processing. The US Air Force is looking for ways to increase output and decrease the cost of composite parts for both manned and unmanned aircraft. Machina Labs developed a ground-breaking robotic process to produce large, complex sheet metal parts without expensive dies in less than a week.
America Aerospace Composites Market Leaders
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Hexcel Corporation
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Precision Castparts Corp.
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COTESA GmbH
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SEKISUI CHEMICAL CO., LTD.
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Solvay SA
*Disclaimer: Major Players sorted in no particular order
America Aerospace Composites Market News
Mar 2023: Travis Airforce Base partnered with Engineering and Engineering Support contractors to modify aerodynamic fairing for a C-5M Super Galaxy with new printed 3D parts. Printed blocks and wedges are supplied by the USAF Rapid Sustainment Office to support the C-5 hump panel, which allows proper aerodynamics over the wing. Travis Airforce Base used a 3D Printed thermoplastic material, Antero 800NA, for aircraft replacement.
Nov 2022: The US Air Force Research Laboratory awarded a contract to Collins Aerospace, a part of RTX Corporation, to build an advanced high-impact resistant, F-16 ventral fin using Collins’ thermoplastic welding technology. The aim is to significantly reduce the weight and cost of the current design. Collins planned to invest approximately USD 100 million over the next five years toward the advancement of its thermoplastic technology and manufacture of thermoplastic materials for both military and commercial use.
America Aerospace Composites Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Application
5.1.1 Commercial Aircraft
5.1.2 Military Aircraft
5.1.3 General Aviation Aircraft
5.1.4 Space
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.2 Latin America
5.2.2.1 Mexico
5.2.2.2 Brazil
5.2.2.3 Rest of Latin America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Solvay SA
6.1.2 Hexcel Corporation
6.1.3 EKISUI CHEMICAL CO., LTD.
6.1.4 Precision Castparts Corp.
6.1.5 COTESA GmbH
6.1.6 DuPont de Nemours, Inc.
6.1.7 SGL Carbon
6.1.8 Materion Corporation
6.1.9 Renegade Materials Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
America Aerospace Composites Industry Segmentation
Aerospace composites are engineered materials typically composed of reinforced fibers, such as carbon or glass, embedded in a matrix of resin. These lightweight, high-strength composites play a crucial role in enhancing the structural integrity, fuel efficiency, and overall performance of aerospace components, including fuselages, wings, and interiors. The study includes various types of composites, like glass fiber, carbon fiber, and ceramic fiber, among others. Further, the report includes the following aspects:
The American Aerospace Composites Market is Segmented by Application (Commercial Aircraft, Military Aircraft, General Aviation Aircraft, Space) and Geography (North America and Latin America). The report offers the market size in value terms in USD for all the abovementioned segments.
| Application | |
| Commercial Aircraft | |
| Military Aircraft | |
| General Aviation Aircraft | |
| Space |
| Geography | |||||
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America Aerospace Composites Market Research FAQs
How big is the America Aerospace Composites Market?
The America Aerospace Composites Market size is expected to reach USD 8.71 billion in 2024 and grow at a CAGR of 9.5% to reach USD 13.71 billion by 2029.
What is the current America Aerospace Composites Market size?
In 2024, the America Aerospace Composites Market size is expected to reach USD 8.71 billion.
Who are the key players in America Aerospace Composites Market?
Hexcel Corporation, Precision Castparts Corp., COTESA GmbH, SEKISUI CHEMICAL CO., LTD. and Solvay SA are the major companies operating in the America Aerospace Composites Market.
Which is the fastest growing region in America Aerospace Composites Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in America Aerospace Composites Market?
In 2024, the North America accounts for the largest market share in America Aerospace Composites Market.
What years does this America Aerospace Composites Market cover, and what was the market size in 2023?
In 2023, the America Aerospace Composites Market size was estimated at USD 7.88 billion. The report covers the America Aerospace Composites Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the America Aerospace Composites Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
America Aerospace Composites Industry Report
Statistics for the 2024 America Aerospace Composites market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. America Aerospace Composites analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
America Aerospace Composites Market Report Snapshots
