Aerospace Composites Market By Fiber Type (Ceramic Fiber, Carbon Fiber, Glass Fiber), By Matrix Type (Metal Matrix, Polymer Matrix, Ceramic Matrix), By Application (Interiors, Exteriors), By Manufacturing Process (Resin Transfer Molding, AFP/ATL, Layup, Filament Winding), By Aircraft Type (Commercial Aircraft, Business & General Aviation, Civil Helicopters, Military Aircrafts), and by Region; Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the Aerospace Composites Market was valued at USD 38.1 billion in 2023-e and will surpass USD 94.6 billion by 2030; growing at a CAGR of 8.6% during 2024 - 2030.

The aerospace composites market is expected to experience significant growth from 2024 to 2030, driven by the increasing demand for lightweight, high-strength materials in the aerospace industry. Composites, which are materials made from two or more constituent materials with different physical or chemical properties, offer numerous advantages over traditional materials like metal, including enhanced fuel efficiency, reduced weight, and superior durability. Aerospace composites are primarily used in aircraft structures, interiors, and propulsion systems, where these properties are critical for performance, cost efficiency, and safety. The global aerospace composites market is projected to grow at a healthy CAGR during the forecast period, fueled by the increasing production of both commercial and military aircraft, advancements in materials technology, and the growing push for sustainability in aviation.

This market is also benefiting from the rising demand for eco-friendly alternatives to traditional materials and the rapid adoption of composite materials in aircraft production. Composites not only reduce the weight of aircraft, leading to lower fuel consumption and emissions, but they also enhance structural integrity and reduce the need for frequent maintenance. As both established and emerging aerospace companies increasingly invest in the development of new composite materials and manufacturing processes, the aerospace composites market is poised for robust growth.

Carbon Fiber Reinforced Polymer (CFRP) Segment is Largest Owing to High Demand in Commercial Aircraft

The carbon fiber reinforced polymer (CFRP) segment is the largest within the aerospace composites market, owing to its widespread adoption in commercial aircraft manufacturing. CFRP composites are known for their superior strength-to-weight ratio, making them ideal for use in key components like wings, fuselages, and tail assemblies. The demand for CFRP has surged as aerospace companies look for ways to reduce aircraft weight while maintaining or improving performance. For example, Boeing’s 787 Dreamliner and Airbus’s A350 XWB are examples of next-generation aircraft that utilize CFRP extensively in their structure to reduce weight and improve fuel efficiency.

As commercial airlines focus on cutting operational costs by improving fuel efficiency, CFRP’s ability to reduce aircraft weight while ensuring the required strength and safety standards has positioned it as the material of choice for new aircraft models. Furthermore, advancements in CFRP manufacturing technologies, such as automated fiber placement and resin transfer molding, have made production more cost-effective and scalable. With these advantages, the CFRP segment is expected to remain the dominant player in the aerospace composites market for the foreseeable future.

Glass Fiber Reinforced Polymer (GFRP) Segment is Fastest Growing Owing to Aerospace Interior Applications

The glass fiber reinforced polymer (GFRP) segment is the fastest growing in the aerospace composites market, driven by increasing demand for lightweight, durable materials in aircraft interiors. GFRP composites are being increasingly utilized in non-structural components such as cabin panels, seating, and overhead bins, where reducing weight without compromising strength and durability is essential. The material’s lower cost compared to CFRP, along with its ability to meet stringent safety and regulatory requirements, makes it an attractive choice for aircraft interior applications. As airlines continue to invest in upgrading and enhancing passenger comfort and safety, the use of GFRP composites in interior components is expected to increase significantly.

The ability of GFRP composites to offer high resistance to corrosion and maintain their structural integrity under varying temperatures is another key factor contributing to their growing popularity in aerospace interiors. Additionally, the increasing emphasis on reducing the weight of non-structural elements to improve fuel efficiency is a driving force behind the growth of this segment. With continued technological advancements and cost reductions, GFRP is expected to be a key growth driver in the aerospace composites market over the next several years.

Aerospace Composites Market is Largest in North America Due to Strong Aerospace Industry Presence

The North American region dominates the aerospace composites market, owing to the strong presence of major aerospace manufacturers like Boeing, Lockheed Martin, and Raytheon Technologies. The United States is a global leader in both commercial and military aerospace production, with significant investments in aerospace R&D and manufacturing. The demand for lightweight, fuel-efficient aircraft in North America, along with government initiatives to support the aerospace sector, has been a major driver of the region's dominance in the aerospace composites market.

Additionally, the rapid adoption of advanced composite materials in military aircraft, such as the F-35 fighter jet, which extensively uses CFRP and other composite materials, contributes to the region's leadership. The increasing production of next-generation commercial aircraft, coupled with rising passenger travel demand, further strengthens North America’s position in the aerospace composites market. The region is expected to continue leading the market through 2030, supported by ongoing investments in technological innovation, infrastructure, and regulatory support for the aerospace industry.

Asia-Pacific is Fastest Growing Region Owing to Growing Aerospace Production

While North America remains the largest market, the Asia-Pacific region is expected to be the fastest growing for aerospace composites during the forecast period. The region is experiencing rapid growth in its aerospace manufacturing capabilities, driven by the increasing production of commercial aircraft, military aircraft, and spacecraft. Countries like China, India, Japan, and South Korea are making substantial investments in their aerospace industries, focusing on enhancing domestic production capabilities and increasing exports.

China, in particular, has emerged as a significant player in the global aerospace market, with initiatives aimed at boosting its indigenous aircraft production capacity. The growth in demand for lighter, more fuel-efficient aircraft is spurring the adoption of composite materials across the region. The rising demand for air travel in emerging economies and increasing investments in military aerospace are expected to accelerate the use of aerospace composites in the region. As such, Asia-Pacific is set to experience the fastest growth in the aerospace composites market from 2024 to 2030.

Competitive Landscape and Leading Companies

The aerospace composites market is highly competitive, with several key players driving innovation, expanding production capacities, and investing in new technologies to maintain their market positions. Leading companies in the market include Hexcel Corporation, Toray Industries, Mitsubishi Chemical Corporation, SGL Carbon, Solvay Group, and Teijin Limited. These companies are recognized for their extensive portfolios of advanced composite materials, including carbon fiber, glass fiber, and resin systems, which are critical in the manufacturing of both commercial and military aerospace components.

To maintain a competitive edge, these companies are focusing on technological advancements in composite manufacturing processes, such as automated fiber placement and resin infusion, which improve efficiency and reduce production costs. Strategic partnerships, joint ventures, and acquisitions are also common among industry players to expand their market presence and leverage the growing demand for aerospace composites in emerging economies.

As the aerospace industry increasingly turns to advanced materials to meet the challenges of weight reduction, fuel efficiency, and performance enhancement, leading companies in the aerospace composites market are positioning themselves as innovators and key players in shaping the future of aviation. With continued investments in R&D, manufacturing capabilities, and sustainability, the competitive landscape is expected to evolve with new entrants and shifting dynamics in both commercial and military aerospace sectors.

Report Objectives

The report will help you answer some of the most critical questions in the Aerospace Composites Market. A few of them are as follows:

1. What are the key drivers, restraints, opportunities, and challenges influencing the market growth?
2. What are the prevailing technology trends in the aerospace composites market?
3. What is the size of the aerospace composites market based on segments, sub-segments, and regions?
4. What is the size of different market segments across key regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa?
5. What are the market opportunities for stakeholders after analysing key market trends?
6. Who are the leading market players and what are their market share and core competencies?
7. What is the degree of competition in the market and what are the key growth strategies adopted by leading players?
8. What is the competitive landscape of the market, including market share analysis, revenue analysis, and a ranking of key players?

Report Scope: