Aerospace Composites Market Worth 42.97 Billion USD by 2022 – PR Newswire (press release)

PUNE, India, November 13, 2017 /PRNewswire/ —

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The report Aerospace Composites Market by Fiber Type (Carbon, Glass, Ceramic), Resin Type (Epoxy, Phenolic, Polyester, Polyimides, Thermoplastics, Ceramic and Metal Matrix), Aircraft Type, Manufacturing Process, Application, Region – Global Forecast to 2022″ published by MarketsandMarkets™, the market is projected to reach USD 42.97 Billion by 2022 from USD 26.87 Billion in 2017, at a CAGR of 9.85% from 2017 to 2022. The major factors fueling the growth of the Aerospace Composites Market across the globe are the increasing use of aerospace composites in commercial and military aircraft.

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Browse 76 Market Data Tables and 55 Figures spread through 159 Pages and in-depth TOC on Aerospace Composites Market

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Increasing use of aerospace composites in the commercial aircraft segment is expected to drive the growth of the Aerospace Composites Market from 2017 to 2022. 

The use of aerospace composites in the commercial aircraft has gained momentum during the past few decades. Up to 53% of the latest Airbus aircraft A350XWB is made using aerospace composite materials as compared to old aircraft models, which used only 2-5% aerospace composites. The main reasons for the growing use of aerospace composites in commercial aircraft are the reduction in the weight of aircraft and high resistance offered against corrosion. Moreover, the maintenance costs for aircraft manufactured using aerospace composites are lower in comparison to the maintenance costs for aircraft manufactured using traditional materials.

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Among fiber types, the carbon fiber composites segment is projected to lead the Aerospace Composites Market during the forecast period in terms of both, volume and value. 

Carbon fibers account for over 70% of the

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