HYDERABAD, India, 4 April 2013. Demand for composite materials in the global aerospace industry achieved double-digit growth in 2012, driven by the continued ramp up of new and existing large commercial aircraft production and increased build rates across the military, civil helicopters, and certain business jet aircraft, according to custom & syndicated research firm Composite Insights.
The commercial aerospace industry continues to use a greater proportion of advanced composite materials with each new generation of aircraft. As Airbus and Boeing increase the production rates of their newest aircraft—including the A380, B787, and A350—the demand for composite materials is expected to grow rapidly through 2018.
New aerospace programs—including the Comac C-919, Bombardier C Series, Mitsubishi MRJ21, Comac ARJ21, and Sukhoi Superjet-100—are expected to contribute to the growing demand for composite materials in civil aerospace. The growth in military aircraft and helicopter production that has occurred in recent years will continue the same trend driving the demand for composite materials.
The broad aerospace industry for composite materials is highly competitive, and companies that focus on both specific submarkets and specialty products within markets would gain competitive advantage. Depending on the material and submarkets, relevant competitive factors include product approvals, technology, product performance, delivery, service, and pricing. Although growth rates for composite materials amongst the aerospace segments vary, the overall demand for composite materials is forecast to grow steadily to $4.2 billion in 2018.
Composite Insights, a full service, has conducted a market analysis on the industry and presents its findings in "Global Aerospace Composites Industry 2013-2018: Trend and Forecast Analysis." The report provides comprehensive analysis with accurate market size estimates for composite materials by market segments (commercial aircrafts, regional jets, military aircrafts, general aviation aircrafts, helicopters and spacecrafts).
For more information, visit http://www.compositeinsights.com.