Ocean View, DE -- (SBWIRE) -- 06/15/2020 -- The aerospace composites market is projected to witness exponential growth on account of increasing number of space exploration projects and developments in the defense sector. The space and military sector have observed massive rise in popularity, with governments worldwide willing to invest more in space programs. In fact, in 2018, the overall space economy was valued at almost USD 414 billion with over 60 space programs operating across the world.

The Major Key Players in the aerospace composites market are as follows: Cytec Industries, Koninklijke Ten Cate Kaneka Corporation, Argosy International, Axioms Materials, BASF SE, E. I. du Pont de Nemours, Gurit Holding AG, Huntsman International, Owens Corning, Teijin Ltd., Toray Industries, JPS Composite Materials, Lee Aerospace, ACT Aerospace, LMI Aerospace, Hindustan Aeronautics, SGL Group, and Solvay

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Several developing as well as developed economies are ramping up their defense budgets to own the most advanced military vehicles. This could significantly boost the adoption of aerospace composites market over the forthcoming years.

Growing concerns over fuel-efficiency could propel the use of aerospace composites on exterior applications. Estimates have it that the exterior application segment in aerospace composites market could register a strong compound annual growth rate of 9.5% by 2026.

Asia Pacific is considered as a lucrative market for aerospace composite companies. The region is estimated to account for almost one-fifth of the overall industry share over the forecasted timeframe. APAC is likely to multiply its fleet in the coming two decades as it is dominated by developing countries like China, India, and Japan. These countries are mainly renowned for their proliferating commercial, space, and military aircraft industries.

Growing prevalence of aramid/Kevlar based aerospace composites for components that are subjected to high stress could drive the demand for aramid composite. The aerospace composites market segment is projected to record a healthy CAGR of nearly 9% by 2026. These fibers generally have low weight properties and are high impact resistance, as it is 40% lighter than glass fiber.

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Business aircraft are likely to witness an exponential rise in demand, with the U.S. being at the forefront of this segment, accounting for almost 70% of the global business airplanes. Rising use of aerospace composites to improve the fuel efficiency while providing a remarkable aerodynamic performance could enhance the business outlook of business aircraft segment over the predicted timeframe.

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Chapter 4. Aerospace Composites Market, By Fiber
4.1. Global aerospace composites market fiber insights
4.2. Glass
4.2.1. Global market estimates and forecasts, 2016 - 2026
4.2.2. Market estimates and forecast, by region, 2016 - 2026
4.3. Carbon/graphite
4.3.1. Global market estimates and forecasts, 2016 - 2026
4.3.2. Market estimates and forecast, by region, 2016 – 2026
4.4. Ceramic
4.4.1. Global market estimates and forecasts, 2016 - 2026
4.4.2. Market estimates and forecast, by region, 2016 - 2026
4.5. Aramid
4.5.1. Global market estimates and forecasts, 2016 - 2026
4.5.2. Market estimates and forecast, by region, 2016 - 2026
4.6. Others
4.6.1. Global market estimates and forecasts, 2016 - 2026
4.6.2. Market estimates and forecast, by region, 2016 - 2026

Chapter 5. Aerospace Composites Market, By Resin
5.1. Global aerospace composites market product insights
5.2. Thermosetting
5.2.1. Global market estimates and forecasts, 2016 - 2026
5.2.2. Market estimates and forecast, by region, 2016 – 2026
5.2.3. Epoxy
5.2.4. Phenolics
5.2.5. Polyester
5.2.6. Polyimides
5.2.7. Others
5.3. Thermoplastic
5.3.1. Global market estimates and forecasts, 2016 - 2026
5.3.2. Market estimates and forecast, by region, 2016 – 2026
5.3.3. PEEK
5.3.4. PSU
5.3.5. PEI
5.3.6. Others

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