Aerospace Composites Market Size, Share, Growth Analysis, By Fiber type (Carbon Fibre Composites), By Matrix type (Polymer Matrix, Ceramic Matrix) By Manufacturing Process (AFP/ATL, Lay-up), By Region - Industry Forecast 2024-2031

Global Aerospace Composites Market size was valued at USD 26.59 billion in 2022 and is poised to grow from USD 29.7 billion in 2023 to USD 80.4 billion by 2031, growing at a CAGR of 11.7% in the forecast period (2024-2031).

Composites are commonly used in the aviation industry. They are utilised in aircraft parts such as wings, ribs, spars, frames, longerons, and fuselage stiffeners. A composite is made up of two or more components that, when mixed, create a new substance with better qualities that differ greatly from those present in the individual basis materials. Metals, aluminium alloys, polymers, and other materials have traditionally been utilised in the production of aircraft. With greater knowledge and technology. The market is expanding rapidly due to the increasing usage of composites in military and commercial aircraft. Other factors driving the growth of the Aerospace Composites Market include growing aircraft deliveries, replacing aged aircraft with new coming models, and developing fuel-efficient aircraft. In the aerospace business, a wide variety of composites are used. Composites are used in commercial aircraft, defence aircraft, helicopters, launchers, and engines. Furthermore, the drop in manufacturing and assembly costs had a beneficial impact on market growth. By lowering fuel costs and providing other benefits, composite has greatly helped airlines sustain and grow their business in emerging markets.

US Aerospace Composites Market is poised to grow at a sustainable CAGR for the next forecast year.