Aerospace & Defense Thermoplastic Composites Market is Forecast to Reach US$ 840 Million in 2028, Says Stratview Research.
The Aerospace & Defense Thermoplastic Composites Market is likely to grow at a significant CAGR of 18.6% during 2023-2028, to reach US$ 840 Million in 2028, states Stratview Research.
DETROIT, Dec. 21, 2023 /PRNewswire/ — Stratview Research, a global market research firm has launched a report on the Aerospace & Defense Thermoplastic Composites Market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.
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Market Size in 2028
US$ 840 Million in 2028
18.6% during 2023-2028
Number of Segments Covered
Number of Tables & Graphs
Country-Level Market Assessment
Segment Insights on Aerospace & Defense Thermoplastic Composites Market
The Aerospace & Defense Thermoplastic Composites Market is segmented based on Aircraft Type, Resin Type, Application Type, Fiber Type, Consolidation Type, and Region.
Based on aircraft type – Stratview Research has first segmented the A&D thermoplastic composites market based on the aircraft type into commercial aircraft, general aviation, military aircraft, and others. Commercial aircraft is expected to remain the largest segment of the market over the next five years and is also expected to experience the highest growth during the same period. Within the A380 airframe, thermoplastic composites account for more than 1,000 individual part numbers, representing a mass of more than 5,000 lb/2.27 metric tons or about 7.5% of the aircraft’s total composite airframe flyaway weight. Thermoplastic composites are also used to provide localized reinforcement between some of the fuselage frames, in the form of shear webs, on the 787 (about 150 per aircraft). On average, about 8,000 clips are used in an A350XWB aircraft, whereas there are 10,000 to 15,000 such clips and cleats in a B787 aircraft.
Based on the resin type – The A&D thermoplastic composites market is segmented into PPS-based composites, PEEK-based composites, PEI-based composites, and other composites. PEEK is estimated to maintain its huge dominance in the market. Key advantages that drive its usage in the A&D industry are weight reduction, excellent strength, and chemical resistance at elevated temperatures, and lower brittleness than PPS resin. PEEK is often used with carbon fiber to fabricate clips, cleats, brackets, clamps, and connectors.
Based on the application type – The market is segmented into interior, airframe, and others. Airframe holds a giant share of the market with a good level of thermoplastic composite penetration in the application segment. Key application areas in the airframe segment are clips, cleats, leading edges, panels for the fuselage, shear webs, stringers, ribs, rudders, and elevators. There is also growing interest in thermoplastic composites in interiors with floor panels, brackets, profiles, and seat backs being key applications.
Based on the fiber type – The market is segmented into carbon fiber composites and glass fiber composites. Carbon fiber composite is estimated to maintain its huge dominance in the market in the foreseen future. Excellent weight reduction, a high strength-to-weight ratio, a high tensile and compressive strength, a low coefficient of thermal expansion, and high fatigue resistance are some key advantages that drive the segment’s market. On the other hand, glass fiber composite holds a niche market with good prevalence in interior applications where it meets desired performance.
Based on the process type – The market is segmented as compression molding, bagging, and injection molding. Compression molding is expected to remain the dominant process type in the market during the forecast period. Compression molding offers faster part cycle time, reduced part waste, and reduced defects, which overall lead to lower costs. By monitoring the temperature during the molding process, quality and process consistency also improve.
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Which Region Offers the Best Opportunity and Growth?
The report suggests that Europe is expected to remain the largest market over the next five years.
This growth is majorly attributed to the following –
- Germany, France, and the UK are the leading markets in the region.
- Airbus is the major consumer of thermoplastic composites.
- Major tier players have set up manufacturing plants in high proximity to Airbus’ assembly plants to fulfill their emerging requirements for its next-generation aircraft programs.
Likewise, North America also holds a reasonable share in the A&D thermoplastic composites market. Boeing and Gulfstream Aerospace are the key OEMs, which are creating a healthy demand for thermoplastic composite parts in the region.
Aerospace & Defense Thermoplastic Composites Market Drivers
Some of the key drivers listed in the report are given below.
- Increasing penetration of composites in modern aircraft programs.
- Low processing costs coupled with the advantage of recyclability of thermoplastic composites over thermoset composites.
- The recovering Aerospace & Defense industry.
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Top 5 Companies in the Aerospace & Defense Thermoplastic Composites Market?
The market is fairly consolidated with the presence of some global and regional players. Stratview Research has identified the following companies as the top market players.
- GKN Aerospace
- Premium AEROTEC GmbH
- Dutch Thermoplastic Composites B.V.
- Avanco Group
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Aerospace & Defense Thermoplastic Composites Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Competitive landscape analysis, Market share analysis
How complex is the business environment?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirements?
10% free customization
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SOURCE Stratview Research