The aerospace composites market market is projected to grow from USD 29.1 billion in 2024 to USD 52.1 billion by 2029, at a CAGR of 12.3% during the forecast period. Aerospace composites are a subset of composite materials used in aircraft and spacecraft applications. These composites are formed by combining at least two different materials, such as carbon fiber, glass fiber, or aramid fiber, with epoxy, creating a new material with properties that are a blend of the component materials. Aerospace composites are distinguished by their high strength and quality standards, as well as the rigorous procedures involved in designing, manufacturing, and testing them. These materials are crucial in aerospace engineering due to their lightweight, strong, and durable properties, making them ideal for various aerospace components like engine blades, brackets, wings, and fuselage sections.
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Aerospace Composites Companies
The major players active in the aerospace composite market are based in Asia Pacific, North America and Europe region. Solvay (Belgium), Toray Industries, Inc. (Japan), Mitsubishi Chemical Group Corporation (Japan), Hexcel Corporation (US), Teijin Limited (Japan), SGL Carbon (Germany), Spirit AeroSystems (US), Materion Corporation (US), Lee Aerospace (US), General Dynamics Corporation (US), Absolute Composites (India), FDC Composites Inc. (Canada), Avior Produits Intégrés Inc. (Canada), Collins Aerospace (US), Aernnova Aerospace S.A (Spain). are among a few leading players operating in the aerospace composites market market. Major focus was given to the development of new manufacturing processes for aerospace composites market and recent deals due to the changing requirements across the world. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the aerospace composites market market further.
Solvay (Belgium)
Solvay offers high-quality aerospace composite materials that comply with European and international standards. The company possesses a strong product portfolio in the aerospace composites market. It develops innovative products like carbon fiber tapes to maintain its competitive edge. The strong product portfolio has helped the company maintain its competitive edge in the market. It has grown gradually by anticipating market trends, delivering quality materials on time, providing excellent technical help, and various proprietary products to meet the changing needs of its customers. Solvay specialty chemicals lead manufacturing chemical intermediates through scale and technology to develop applications and technologies to reduce costs. The company efficiently provides aerospace composite materials, giving it a strong foothold in the market.
The company has focused on the adoption of organic and inorganic strategies to cement its position as the market leader in the aerospace composites market. This includes the various product launches and developments and acquisitions, which have been supported by several contracts, collaborations, and partnerships with businesses from across the world.
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Toray Industries, Inc. (Japan)
Toray Industries, Inc. is a leading supplier to the aerospace industry, providing advanced thermoset and thermoplastic composite materials to produce lightweight general aviation, military, and unmanned aircraft. It is a leading supplier of composite materials to the satellite, space exploration, and launch industries. The company’s products are widely used in urban air mobility, defense, commercial, and industrial sectors. The company provides aerospace composite materials through its subsidiary, Toray Advanced Composites. Toray Industries Inc.’s operations are spread across 29 countries, mainly in Asia Pacific, Europe, and North America. The company outlines long term agreement as one of the key practices for growing its aerospace composites market business.
Hexcel Corporation (US)
Hexcel Corporation is a key player in the aerospace composites business, specializing in providing carbon fiber composites to major aircraft manufacturers like Boeing and Airbus for their range of jets. Approximately half of Hexcel’s revenue comes from supplying these composite parts to the aerospace industry, with a significant focus on the defense sector as well. The company’s expertise in aerospace composites extends to commercial and military fixed-wing aircraft, helicopters, business jets, UAVs, and spacecraft, showcasing a strong track record of performance in the aerospace and defense contracts. Hexcel’s composite structures are known for being lightweight, high-strength, resistant to rust and corrosion, and capable of being molded into complex shapes, offering enhanced toughness and strength for extended durability. Additionally, Hexcel’s joint venture in Malaysia, Aerospace Composites Malaysia (ACM), plays a crucial role in producing cost-effective, high-performance composite parts primarily for Boeing programs, utilizing cutting-edge manufacturing technologies and efficiency principles.
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