Composite Materials in Aerospace to Top $35.8 Billion by 2018
Despite the global economic downturn, significant opportunities continue to exist for composites in the global aerospace market, according to “Opportunities for Composites in the Global Aerospace Market, 2009-2028,” a new market study conducted by Lucintel.
Composites demand is expected to grow during next 10 years due to the need for fuel-efficient, durable and low-maintenance aircraft. According to the report, the total demand for composites in commercial aerospace, regional jets, defense, general aviation, helicopter and other segments of the aerospace market is expected to be worth $35.8 billion during 2009-2018.
In the aerospace market, the commercial sector will drive the growth of composites demand due to new programs such as Boeing 787, Airbus 380 and Airbus 350, which have significant usage of composites. The defense and general aviation markets are expected to see an increase in penetration of composite materials, though demand for composites is lower in these areas than in commercial aerospace.
This study also reveals that, while composite materials currently represent a relatively small segment of the aerospace industry, the potential exists for composite materials to become a more integral component within the industry in the future. Although aluminum is currently the predominant material used in the overall aerospace industry, aerospace companies are showing increased interest in composite materials because of a desire for more fuel-efficient and corrosive-resistant aircraft.
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