Composite Insights’ Report Analyses Global Aerospace Composites Industry: Demand to Reach $4.7 Billion in 2019
Hyderabad, India, January 29, 2014 --(PR.com
)-- The demand for composite materials in global aerospace industry has increased significantly in 2013 - primarily attributable to the continued ramp up of new and existing large commercial aircraft production and increased build rates across the civil helicopters and certain aircrafts within the business jet market.
Overall the commercial aerospace industry continues to utilize a greater proportion of advanced composite materials with each new generation of aircraft. While the B787 was a key driver of growth in 2013, Composite Insights forecast the A350 to be a significant driver of growth for composite materials during the next several years. Commercial aircraft deliveries from the manufacturers are set to grow again in 2014 and beyond, with Airbus and Boeing each planning to continue their incremental build-up in reaction to market demand. Growing air travel demand regardless of economic conditions, coupled with increasing fuel prices will ensure the demand for newer and more efficient aircrafts.
New aircraft programs that are ramping up such as Comac-C-919, Bombardier-C Series, Mitsubishi-MRJ21, Comac-ARJ21, Sukhoi-Superjet-100 expect to contribute to the growing demand for composite materials in civil aerospace. The growth civil helicopter production that has occurred in recent years is expect to continue the same trend driving the demand for composite materials.
Some of the market segment in aerospace industry have been, to varying degrees, cyclical and have experienced downturns in the past. The broad aerospace industry for composite materials is highly competitive, and companies that focus on both specific sub-markets and specialty products within markets would gain competitive advantage. Depending upon the material and sub-markets, 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 $4.7 billion in 2019.
Composite Insights is a full service Custom and Syndicated Research firm based in Hyderabad, India. To find out more about our reports, please visit http://www.compositeinsights.com/intelligencecenter.html.