As the global aerospace market continues to expand and grow, the composites industry is seeing a direct correlation as overall sales continue to increase. According to Research and Markets’ latest report, Opportunities for Composites in the Global Aerospace Market 2013-2032, the advanced composite materials market and its volumes and associated market value, is expected to reach $4.5 billion by 2022.
The launch of Boeing’s 787 Dreamliner, which is roughly 50 percent composite materials, is an example of the trend toward a greater use of composites in all aircraft. However, composites usage continues to vary between aircraft types. A growing order backlog and an increasing production rate for commercial aircraft, as well as high composites penetration, are the main drivers for significant demand.
Research and Market predicts that the fastest growing segments are expected to be the 200 to 350 seat twin-aisle sector, large regional jets and very light business jets. The company’s analysis provides technical information regarding composites applications and processes used in the manufacturing of various aircraft components. It also includes a directory of the main players and manufacturers in the industry.
The global aerospace market is not the only market continuing to see an increase in the use of composite materials. The demand for high-performance composite materials is expected to grow for the automotive, defense and safety, energy, consumer and construction markets approximately 15 percent a year for the next four years, according to The Freedonia Group.