The global aeroengine composites market size is expected to grow from $1.61 billion in 2021 to $1.83 billion in 2022 at a compound annual growth rate (CAGR) of 14.10%. The global aeroengine composite market size is expected to reach $3.08 billion in 2026 at a CAGR of 13.85%.
What is the Global Aeroengine Composites Market?
The aero-engine composites market consists of sales of aero-engine composites by entities (organizations, sole traders, and partnerships) that refer to materials made up of two or more constituent parts used in the manufacture of various aerospace engines. Aeroengine composites help in reducing the overall weight of the aircraft and increase fuel efficiency. They offer high strength, thermal stability, and impact resistance. The aero-engine composites are easy to assemble and are resistant to fatigue or corrosion.
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What drives the Global Aeroengine Composites Market?
The constant demand for low-fuel engines is expected to propel the growth of the aero-engine composites market. The aircraft engines with low fuel consumption will not only reduce carbon dioxide emissions but also reduce the operational costs of airline companies. The growing demand for oil across the globe and dwindling reserves are responsible for the increase in oil prices which triggers the need for fuel-efficient engines. Using less fuel through improved fuel efficiency helps in saving a considerable amount of money for the airlines. The use of aero-engine composites will reduce the overall weight of the aircraft and improve its fuel efficiency. For instance, The International Air Transport Association (IATA), a trade association that supports the aviation industry across the globe for airline security, safety, sustainability, and efficiency, adopted a set of ambitious targets to reduce 50% carbon dioxide emissions in net aviation by 2050. Therefore, the demand for low-fuel engines is driving the growth of the aero-engine composites market.
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Global Aeroengine Composites Market Segments
The global aeroengine composites market is segmented:
By Type: Polymer Matrix Composites, Ceramic Matrix Composites, Metal Matrix Composites
By Component: Fan Blades, Fan Case, Guide Vanes, Shrouds, Others
By Application: Commercial Aircraft, Military Aircraft, General Aviation Aircraft
By Geography: The regions covered in the aeroengine composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Aeroengine Composites Global Market Report 2022provides market size and growth forecasts for the global aeroengine composites market, global aeroengine composites market share, aeroengine composites market segments and geographies, aeroengine composites market competitive landscape including leading competitors’ revenues, profiles and market shares. The aeroengine composites market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Aeroengine Composites Industry Playersinclude Solvay SA, Meggitt PLC, Hexcel Corporation, Albany Engineered Composites Inc, FACC AG, General Dynamics Corporation, E.I. DuPont de Nemours, LMI Aerospace, BASF SE, Pratt & Whitney, Godrej Group, Triumph Group Inc, and ZOLTEK Corporation. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
