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Global Aero Engine Composite Material Market Size To Worth

New York, United States , May 29, 2024 (GLOBE NEWSWIRE) — The Global Aero Engine Composite Material Market Size to Grow from USD 2.9 Billion in 2023 to USD 6.1 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 7.72% during the forecast period.

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The market for aero engine composite materials is quickly developing, driven by technological advancements, rising demand for fuel-efficient aircraft, and the aerospace industry’s emphasis on reducing weight and emissions. Composite materials are lighter than traditional materials like metals, which improves fuel efficiency and reduces pollution. As airlines and aircraft manufacturers strive to meet stringent environmental regulations while cutting operational costs, the demand for composite materials in aero engines is rising. The growing need for commercial and military aircraft, spurred by increased air travel and defence budget, is driving the development of new materials for aero engines.

Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the “Global Aero Engine Composite Material Market Size By Application (Commercial Aircraft, Military Aircraft, and General Aviation Aircraft), By Component (Fan Blades, Guide Vanes, Shrouds, Engine Casing, Engine Nacelle, and Other Cold End Parts), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033”.

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Insights by Application

The commercial aircraft segment accounted for the largest market share over the forecast period 2023 to 2033. The commercial aviation industry dominated the Aero Engine Composites Market, owing to rising demand for narrowbody aircraft and increased orders from key manufacturers such as Airbus and Boeing. The use of composite materials in commercial aviation engines, such as 3-D woven carbon fibre composite fan blades and casings, is a significant trend that is contributing to the segment’s growth. Companies such as GE are actively developing novel composite technologies for engines such as the GE9X, which is designed for Boeing’s 777X aircraft, hence contributing to the growth of the commercial aircraft segment in the Aero Engine Composite Material Market.

Insights by Component

The engine casing segment is dominating the market with the largest market share over the forecast period 2023 to 2033. Engine casings are critical components of aircraft engines, and there is an increasing demand for lightweight materials like composite engine casings to increase fuel efficiency and overall performance. As the aerospace industry focuses on developing revolutionary composite materials for engine components, the engine casing segment is predicted to grow rapidly, driven by the advantages these materials give in terms of weight reduction and operating efficiency. Furthermore, major market players such as GE Aviation and Rolls-Royce are introducing and upgrading advanced aero engine composite material processing technologies, which will help to drive the growth of the engine casing segment in the Aero Engine Composite Material Market.

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North America is anticipated to dominate the Aero Engine Composite Material Market from 2023 to 2033. The Aero Engine Composite Material Market in North America is an important section of the worldwide aerospace sector. North America is the largest market for aero engine composites, with a focus on fuel efficiency, environmental sustainability, and operational performance driving demand for lightweight composite materials. Advancements in composite production methods, including as resin infusion and automated lay-up, have improved Aero Engine Composites’ capabilities and applications. Furthermore, the North American market benefits from the presence of major engine manufacturers like as GE Aviation and Pratt & Whitney, which are essential players driving innovation and development in the aerospace industry.

Asia Pacific is witnessing the fastest market growth between 2023 to 2033. The Asia-Pacific region’s need for Aero Engine Composites is being driven by expanding air passenger traffic, improved economies, and increased defence spending in nations such as India. Furthermore, the Asia-Pacific market is seeing developments in aerospace technology, with engine designs evolving to necessitate materials that can resist the demands of modern aviation, where Aero Engine Composites play an important part in overcoming these challenges. The Asia-Pacific Aircraft Engine Market, which comprises the Aero Engine Composite Material segment, is predicted to increase significantly, reflecting the region’s increasing prominence in the worldwide aerospace industry.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Players in the Global Aero Engine Composite Material Market includes Materion Corporation, Royal Ten Cate, Hexcel Corporation, Owen Corning, Solvay, Teijin, SGL Group, Mitsubishi Rayon Co., Renegade Materials Corporation, Toray Industries, and other key vendors.

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 Recent Market Developments

  • In July 2022, Hexcel acknowledged the successful first flight of the Airbus 321XLR. Hexcel provides complex composite materials for the A321XLR airframe and CFM International LEAP-1A engine, which power modern aircraft.

Major players in the market

  • Materion Corporation
  • Royal Ten Cate
  • Hexcel Corporation
  • Owen Corning
  • Solvay
  • Teijin
  • SGL Group
  • Mitsubishi Rayon Co.
  • Renegade Materials Corporation
  • Toray Industries

Market Segmentation

This study forecasts revenue at global, regional, and country levels from 2023 to 2033.

Aero Engine Composite Material Market, Application Analysis

  • Commercial Aircraft
  • Military Aircraft
  • General Aviation Aircraft

Aero Engine Composite Material Market, Component Analysis

  • Fan Blades
  • Guide Vanes
  • Shrouds
  • Engine Casing
  • Engine Nacelle
  • Other Cold End Parts

Aero Engine Composite Material Market, Regional Analysis

  • North America
  • Europe
    • Germany
    • Uk
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of Middle East & Africa

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements. 


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