Aerospace Plastics Market Analysis By Application (Aerostructure, Components, Cabin Interiors, Propulsion Systems, Satellites), By End-use, And Segment Forecasts, 2018 - 2025

Industry Insights

The global aerospace plastics market size was valued at USD 690.3 million in 2016. The increasing demand for plastics in several aerospace applications including cabin interiors, airframe, fuselage and empennage is expected to drive market over the next eight years.

Reduction in overall airplane weight directly impacts the performance and efficiency. In addition, with reduction of one kilogram (kg) weight is estimated to nullify lifetime operating costs associated with fuel, for a commercial airplane. Plastics being lightweight and highly durable, they are used as an alternative to aluminum and steel components, increasing their share in the overall structure of an airplane.

North America aerospace plastics market by application, 2014 - 2025 (USD million)

Aerostructure accounted for the majority of the volume share in 2016. The increasing use of reinforced plastics in manufacturing airframes, door fairings, fuselage and wings is expected to be the key aspect for growing market share of plastics in aerostructure application. Furthermore, the use of plastics in cabin interiors in their pure form is expected to aid market growth.

The market is expected to grow prosperously in the next eight years on account of the growing demand across the aviation industry coupled with the upcoming advancements in the engineered polymers industry.

Application Insights

Aircraft frame contains the maximum amount of carbon fiber reinforced plastic and composites reducing the weight by 20%. The extended use of composites and plastics in the high-tension loaded environment of the fuselage reduces the maintenance primarily due to fatigue. Moreover, the use of engineered polymers in fuselage enables part count reductions with the use of fasteners and integral clips.

Equipment, systems, and supplies accounted for the second largest share in terms of volume followed by cabin interiors. Aerospace plastics are anti-corrosive, lightweight, and resistant to chemicals and act as an efficient alternative to conventional materials such as aluminum and steel. One of the major advantages of polymers is that they can be assembled into large structures through bonding rather than riveting.

Aerostructure is the most important part of the airplane as it forms the basis for the shape and size of the aircraft. PEEK and POM have widely used polymers in this application owing to the durability and corrosion and heat resistance. As the demand for general aviation and commercial aviation is rising, the demand for the two polymers is projected to grow significantly.

The demand for polymers such as PTFE is growing at a rapid pace in satellite applications. A new breed of aircraft, designed as an affordable substitute for satellites has been developed recently, which may foster greater opportunities for plastics in its construction. PTFE has numerous advantageous properties such as high stiffness and chemical resistance, which has fostered its application in satellites in recent years.

End-use Insights

Commercial aircraft have been a major end user segment for aerospace plastics owing to the emergence of several service providers in air transport industry. Military aircraft segment has also been lucrative, its utilization attributed to growing security and defense concerns. Inclination towards niche air transportation options has led to the exploration of rotary aircraft and gliders for special travel purposes.

Freight and large passenger aircraft are one of the major application areas for plastics in the aerospace industry. Utilization of polymers in aircraft aids in reducing operating cost by reducing the weight and lowers the occurrence of maintenance issues. This has encouraged aircraft manufacturers to potentially increase plastic content in commercial as well as freighter aircraft.

Global aerospace plastics market volume by end-use, 2016 (%)

Manufacturers of military aircraft have been using plastics to reduce the overall weight and improve the fuel efficiency. Military aircraft are often treated as the testing grounds for innovative aerospace structures, and the advancements in the application of plastics are often witnessed in military aircraft where demand for the polymers is high.

Aerospace plastics provide a high degree of freedom in the designing of complicated components of an aircraft. As a result, the percentage of aerospace plastics utilized in manufacturing commercial and military airplane has increased significantly over the past couple of decades.

Regional Insights

North America is expected to witness a growing demand for fuel-efficient aircraft in the next eight years on account of the rising fuel prices. High replacement rate mainly for regional aircraft is driving the growth in the matured North American aerospace plastics industry. The urge to modify/replace the existing inefficient aircraft with fuel-efficient airplane is expected to augment market growth.

The European market witnessed significant growth in 2016 and is expected to continue its growth on account of the availability of skilled engineers and glut of investments seen in research and development. The presence of aircraft manufacturing companies in France including European consortiums along with French participants (ATR, EADS, etc.), has bolstered the European aerospace polymers market.

Constant change in the economic environment of Asia Pacific has significantly impacted the airline industry during past five years. However, emerging economies in Asia Pacific including China, India, and Japan are largely fueling the aerospace polymers market owing to emergence airplane manufacturing industry in the region.

The supportive policies of the Middle East government have contributed significantly to market growth in recent years since the aerospace industry has received a boost in terms of imported materials and impetus for regional manufacturing. As per the statistics of IATA (International Air Transport Association), the BRIC nations (Brazil, Russia, India and China) have experienced a substantial growth in domestic air travel in 2016, which in turn is expected to aid market growth.

Competitive Insights

The market is fragmented and highly competitive with the presence of a number of multinational companies across the major economies. The companies lay high emphasis on increasing the area of operation in order to increase the market share and drive the revenues of the company. This provides the companies with the different business portfolio that accounts for an increase in the sales of the companies.

The market is fragmented with the presence of few manufacturers catering to the local market as well as international markets. The companies enter into a long-term contract with the raw material suppliers to ensure a constant supply. However, the availability of raw materials and raw material suppliers is expected to decrease the competitive edge of the manufacturers.

Report Scope

Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global aerospace plastics market on the basis of application, end-use and region:

• Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

  • Aerostructure

  • Components

  • Equipment, systems & support

  • Cabin interiors

  • Propulsion systems

  • Satellites

  • Construction and insulation components

• End-Use Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

  • Commercial & freighter aircrafts

  • Military aircrafts

  • Rotary aircrafts

  • General aviation

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

  • North America

  • Europe

  • Asia Pacific

  • Rest of World (RoW)