Global aerospace composites market is expected to witness significant growth on account of increased aircraft production as a result of the booming aviation industry. The aerospace sector contributes to a major chunk of the composites market due to increased use of lightweight materials for interior and exterior parts. Increased air traffic coupled with number of upcoming low cost carriers in emerging economies of Asia Pacific and Latin America to facilitate air travel are expected to be key drivers for the aviation industry which in turn will result in aerospace composites market growth. Furthermore, improving standard of living coupled with laissez-faire aerospace industry in the Middle East has resulted in increased demand for low cost air travel which is expected to positively impact aerospace composites market over the forecast period.
Airlines are opting for new airplanes to replace the current lot owing to lightweight materials used in construction coupled with technology advancement in terms of fuel efficiency. Composites also provide ease of design as compared to metals which is expected to further drive market demand. Aerospace composites demand is expected to be high within the civil aviation sector namely in business jet, single aisle and twin aisle mainline aircraft. As of 2013, Boeing produced five 787 Dreamliners per month comprising composite horizontal stabilizer components. Airbus A380 and Boeing 787 comprise of over 40 ton of composites along with the latter consisting of over 50% of composites. The aerospace composites market is expected to have positive outlook with the introduction of next generation aircraft comprising higher amount of composites.
Aerospace composites market is expected to grow on account of high demand from commercial & military aircraft, helicopters, business jet, general aviation and spacecraft manufacturing. Increasing demand for lightweight and efficient airplanes is expected to provide immense opportunities for the composite parts, material and frame manufacturers over the forecast period. Continuous technological advancement in terms of component and structural applications in airplanes is expected to result in high aerospace composites demand. With growing demand for aircraft coupled with existing high order backlogs has resulted in increased need for improved production rates which is expected to be a key reason for aerospace composites penetrating the market. Establishment of Nation Composites Center is in line with UK government long term strategy, the NCC has expertise in design and manufacture of composites.
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