Aerospace Composites Market Growth at 7.1% CAGR to 2019.

 
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New York (AirGuide - Inside Air Travel) Tue, Dec 16, 2014 - The aerospace composite market size is projected to register a CAGR of 7.1% between 2014 and 2019 to reach $4,993.1 million in terms of value. The commercial aircrafts application segment holds 62.7% market share by volume and thus constitutes a significant part of the overall aerospace composite market. However, the military application segment is projected to grow at a high CAGR of 9.7% by 2019. The high growth can be attributed to the rise in global security issues and increased defense budgets of certain countries, such as the U.S. and Russia. Among different aerospace composite types, glass fiber reinforced composites occupied the highest market share in terms of value in 2013. Carbon fiber reinforced composites is the fastest-growing type due to growing consumption in commercial, business, and military aircrafts. The rise in demand of fuel-efficient aircrafts and robust economic growth are the two main drivers of the market. Although the high cost of carbon fibers is projected to inhibit the growth to some extent, the long-terms benefits of using them are undeniable. Efforts are being made by companies for the profitable mass production of carbon fibers. This is chiefly due to the growing demand for fuel-efficient aircrafts and certain environmental norms, such as EPA regulations and ACARE emission targets. Composite materials in aerospace are used primarily because they have higher strength to weight ratio than metals. Thus, they help save fuel and also aid to decrease the harmful fuel emissions. The various types of aerospace composites that have been included in this report are: glass fiber reinforced composites, carbon fiber reinforced composites, metal matrix composites (MMC), aramid fiber composites, and ceramic matrix composites (CMC). The notable market player in aerospace composites market includes Cytec Industries Inc, E. I. DU PONT DE Nemours, Gurit Holding AG, Hexcel Corporation, Mitsubishi Rayon Co. Ltd, Owens Corning, SGL Group a the Carbon Company, Teijin Limited, Tencate and Toray Industries. Order a copy of this report at http://www.reportsnreports.com/purchase.aspx?name=320081 . The report analyzes the aerospace composites market trends and forecasts till 2019. The market size has been provided in terms of market volume (KT) and value ($million). The report also identifies prominent players and provides analysis for each player in terms of company overview...

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