Composite Repair Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 8.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Composite Repair Market Analysis
The composite repair market is expected to register a CAGR over 8%, during the forecast period. Factors, such as rising investment in rehabilitation of old structures and cost saving associated with composite structure repair, are driving the composite repair market, globally.
- Increasing usage of composites in the aerospace and defense industry is expected to drive the demand for the market, during the forecast period.
- Introduction of self-healing composites is likely to hinder the market growth.
- Automation of composite repair is projected to act as an opportunity for the market, in the future.
Composite Repair Market Trends
This section covers the major market trends shaping the Composite Repair Market according to our research experts:
Aerospace and Defense to Lead the Growth of the Composite Repair Market
- Composite material is witnessing rapidly increasing demand from the aerospace industry. The use of composite materials in commercial transport aircraft is massive, as thereduced airframe weight enables better fuel economyand, therefore, lowers operating costs.
- Increasing composite content in new generation commercial aircraft, such as Boeing 787 Dreamliner and Airbus A350, is likely to drive the composite repair market in the coming years. In Boeing 787, composite materials constitute almost 50%, by weight.
- The rising air traffic in the Middle East and Asia-Pacific regions is also likely to spur the demand for commercial and passenger aircrafts, with increasing focus on tourism and travel.
- The consumption of aramid fiber has increased not only in aerospace, but also in the defense vertical. Owing to the increasing investments in the defense industry, the growth in consumption of these fibers is expected to continue at a significant rate, in the next 10 years. Countries, like China, the United States, Russia, Saudi Arabia, India, Japan, and France, are gradually increasing their aerospace anddefense budgets, due to the resurgence of global security threats.
- Due to aforementioned factors, aerospace and defense is expected to drive the demand for composite repair over the forecast period.
Asia-Pacific Region to Dominate the Composite Repair Market
- Asia-Pacific has been projected to lead the composite repair market, due to strong government initiatives focusing on a cleaner environment, therebyimplanting wind energy turbines.
- Asia-Pacific is likely to invest up to USD 250 billion on solar and wind energy projects, by 2025.
- In India, defense manufacturing has improved, and the country has increased its export of defense equipment, including Cheetah helicopters, to countries, such as Afghanistan, Indonesia, Nepal, Vietnam, South Korea, Myanmar, Israel, Russia, etc. The ISRO is also rapidly developing space crafts.
- This is likely to drive the composite repair market in the Asia-Pacific region, during the forecast period. With multinational companies taking interest in the countries in Asia-Pacific, and the governments supporting the aerospace industry, the demand for composite repair is likely to flourish in this region.
- These factors are likely to boost the composite repair market in the Asia-Pacific region.
Composite Repair Industry Overview
The composite repair market is partially fragmented. Key players in the market include Lufthansa Technik AG, Air France KLM Group, Boeing Company, and Hong Kong Aircraft Engineering Company Limited (HAECO), among others.
Composite Repair Market Leaders
-
Lufthansa Technik AG
-
Air France KLM Group
-
Boeing Company
-
Hong Kong Aircraft Engineering Company Limited
*Disclaimer: Major Players sorted in no particular order
Composite Repair 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 Drivers
-
4.1.1 Rising Investment in Rehabilitation of Old Structures
-
4.1.2 Cost Saving Associated with Composite Structure Repair
-
4.1.3 Increasing Use of Composites in the Aerospace and Defense Industry
-
-
4.2 Restraints
-
4.2.1 Introduction of Self-healing Composites
-
4.2.2 Other Restraints
-
-
4.3 Value Chain/Supply Chain Analysis
-
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
-
-
4.5 Patent Analysis
-
-
5. MARKET SEGMENTATION
-
5.1 Product Type
-
5.1.1 Structural
-
5.1.2 Semi-structural
-
5.1.3 Cosmetic
-
-
5.2 Process
-
5.2.1 Hand Lay-up
-
5.2.2 Vacuum Infusion
-
5.2.3 Autoclave
-
5.2.4 Other Processes
-
-
5.3 End-user Industry
-
5.3.1 Aerospace and Defense
-
5.3.2 Wind Energy
-
5.3.3 Automotive
-
5.3.4 Marine
-
5.3.5 Construction
-
5.3.6 Other End-user Industries
-
-
5.4 Geography
-
5.4.1 Asia Pacific
-
5.4.1.1 China
-
5.4.1.2 India
-
5.4.1.3 Japan
-
5.4.1.4 South Korea
-
5.4.1.5 Rest of Asia-Pacific
-
-
5.4.2 North America
-
5.4.2.1 United States
-
5.4.2.2 Canada
-
5.4.2.3 Mexico
-
-
5.4.3 Europe
-
5.4.3.1 Germany
-
5.4.3.2 United Kingdom
-
5.4.3.3 France
-
5.4.3.4 Italy
-
5.4.3.5 Rest of Europe
-
-
5.4.4 South America
-
5.4.4.1 Brazil
-
5.4.4.2 Argentina
-
5.4.4.3 Rest of South America
-
-
5.4.5 Middle-East and Africa
-
5.4.5.1 Saudi Arabia
-
5.4.5.2 South Africa
-
5.4.5.3 Rest of Middle-East and Africa
-
-
-
-
6. COMPETITIVE LANDSCAPE
-
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
-
6.2 Market Share Analysis**
-
6.3 Strategies Adopted by Leading Players
-
6.4 Company Profiles
-
6.4.1 Air France KLM Group
-
6.4.2 Boeing Company
-
6.4.3 Composite Technology Inc.
-
6.4.4 Clock Spring Company Inc.
-
6.4.5 Crawford Composites LLC
-
6.4.6 Hong Kong Aircraft Engineering Company Limited (HAECO)
-
6.4.7 Lufthansa Technik AG
-
6.4.8 Milliken Infrastructure Solutions LLC
-
6.4.9 Team Inc.
-
6.4.10 The IKM Group
-
6.4.11 TD Williamson Inc.
-
6.4.12 WR Composites
-
- *List Not Exhaustive
-
-
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
-
7.1 Automation of Composite Repair
-
Composite Repair Industry Segmentation
The composite repair market report includes:
| Product Type | |
| Structural | |
| Semi-structural | |
| Cosmetic |
| Process | |
| Hand Lay-up | |
| Vacuum Infusion | |
| Autoclave | |
| Other Processes |
| End-user Industry | |
| Aerospace and Defense | |
| Wind Energy | |
| Automotive | |
| Marine | |
| Construction | |
| Other End-user Industries |
| Geography | |||||||
| |||||||
| |||||||
| |||||||
| |||||||
|
Composite Repair Market Research FAQs
What is the current Composite Repair Market size?
The Composite Repair Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)
Who are the key players in Composite Repair Market?
Lufthansa Technik AG, Air France KLM Group, Boeing Company and Hong Kong Aircraft Engineering Company Limited are the major companies operating in the Composite Repair Market.
Which is the fastest growing region in Composite Repair Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Composite Repair Market?
In 2024, the Asia Pacific accounts for the largest market share in Composite Repair Market.
What years does this Composite Repair Market cover?
The report covers the Composite Repair Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Composite Repair Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Composite Repair Industry Report
Statistics for the 2024 Composite Repair market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Composite Repair analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
