Aerospace Composites Market Valued at USD 29.2 Billion in 2024, Projected to Reach USD 99.5 Billion by 2035, Expanding at a CAGR of 11.8%Aerospace Composites Market Valued at USD 29.2 Billion in 2024, Projected to Reach USD 99.5 Billion by 2035, Expanding
The global aerospace composites market is undergoing a remarkable transformation driven by advances in lightweight materials, sustainability goals, and manufacturing innovations. In 2024, the market was valued at US$ 29.2 billion, and it is poised to grow exponentially, reaching US$ 99.5 billion by 2035. Aerospace composites-primarily composed of carbon fiber, glass fiber, and aramid fiber-are increasingly adopted in both commercial and defense aviation to enhance fuel efficiency, reduce emissions, and improve aircraft performance. The shift toward electric and hybrid aircraft, combined with increased aircraft production rates, has further reinforced demand for advanced composite solutions across the aerospace value chain.
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Market Segmentation
The aerospace composites market can be segmented by fiber type, resin type, aircraft type, and manufacturing process.
By Fiber Type: Carbon fiber composites dominate the market due to their superior strength-to-weight ratio and fatigue resistance. Glass fiber composites maintain a stable share in secondary structures, while aramid fibers are used in ballistic applications for defense aircraft.
By Resin Type: Epoxy resin remains the leading matrix material, offering excellent mechanical properties and chemical resistance. However, thermoplastic composites are gaining traction due to recyclability and rapid processing capabilities.
By Aircraft Type: The commercial aviation segment leads global demand, followed by military aircraft and business jets. The increasing use of composites in rotorcraft and spacecraft also contributes to market diversification.
By Manufacturing Process: Automated processes such as Automated Fiber Placement (AFP), Automated Tape Laying (ATL), and Resin Transfer Molding (RTM) are increasingly preferred for precision and scalability, supporting high-rate production lines.
Regional Analysis
North America currently dominates the global aerospace composites market, owing to the presence of key aerospace OEMs such as Boeing, Lockheed Martin, and Northrop Grumman, along with advanced composite manufacturers like Hexcel Corporation and Syensqo (formerly Solvay). Europe follows closely, driven by Airbus's large-scale integration of composite materials and the region's strong focus on sustainability and circular economy models. Asia-Pacific is emerging as the fastest-growing region, fueled by rapid industrialization, increasing defense budgets, and expanding commercial aviation infrastructure in countries like China, India, and Japan. Middle East and Africa are expected to witness steady growth due to rising investments in aerospace manufacturing hubs, while Latin America continues to evolve as a key supplier of composite parts and raw materials.
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Competitive Landscape
The aerospace composites market is highly competitive, with a mix of established global players and emerging regional suppliers. Key companies include Hexcel Corporation, Syensqo, Toray Industries, Teijin Limited, SGL Carbon, Mitsubishi Chemical Group, Gurit Holding AG, and Spirit AeroSystems. These players are investing heavily in R&D, automation, and sustainability initiatives to maintain their market leadership. Strategic collaborations, mergers, and acquisitions continue to define the competitive dynamics, as companies seek to strengthen their supply chains and technological capabilities. For example, Hexcel's new material innovations and Syensqo's sustainability-driven partnerships highlight the industry's dual focus on performance and circularity.
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