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Global Aero Engine Composite Material Market to reach USD 4.95 billion by the end of 2029

Global Aero Engine Composite Material Market Size study & Forecast, by Application (Commercial Aircraft, Military Aircraft, General Aviation Aircraft), by Component (Fan Blades, Guide Vanes, Shrouds, Engine Casing, Engine Nacelle, Other Cold End Parts), by Composite Type (Polymer Matrix Composites, Carbon Matrix Composites, Metal Matrix Composites), by Fiber Type (Carbon Fibers, Ceramic Fibers, Glass Fibers) and Regional Analysis, 2022-2029

Product Code: ALTAMC-49315047
Publish Date: 10-04-2023
Page: 200

Global Aero Engine Composite Material Market is valued at approximately USD 2.53 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.76 % over the forecast period 2022-2029. Composite materials have been used in the aerospace industry for many years, mainly in non-safety critical applications and more recently as essential structures, including such as fuselage and wing structures on the latest aircraft from Boeing, Airbus, and Bombardier. The aircraft engine is one of the most paradoxical and demanding environments for any material system. These aero-engine designs are geared at lower fuel consumption, higher thrust, and reduced weight for improved fuel economy. Furthermore, the adoption of modern aero-engine composite materials necessitates intense and advanced development initiatives. The Aero Engine Composite Material Market is expanding because of factors such as the increasing commercial aircraft composites production rate and new emission regulations that have been implemented by government agencies.

According to Statista, the aeroplane engine sector was valued at almost $80 billion in 2019. As global interconnection grows, it is expected to surpass 97 billion US dollars by 2026 due to increased demand for air travel and cargo. Composite materials are also used in the aircraft and aerospace industries to aid in the management of hostile environments. In 2017, the aircraft industry alone accounted for around 18,000 metric tons of carbon fibre demand. Composite wood, metal matrix composites, and reinforced concrete are also common examples of composite materials. Many of the world’s major polluting countries committed to reaching zero carbon by 2070 during the 26th UN Climate Change Conference (COP26) in 2021. Also, the rise in technologically advanced engines and reduced cost of carbon fibers provide lucrative growth opportunities for the market during the forecast period. However, the high costs of composite materials may stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Aero Engine Composite Material Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue. The existence of a significant number of players, as well as aircraft and engine component manufacturers, has contributed to the rise. Furthermore, Asia Pacific is expected to grow with the highest CAGR during the forecast period. Asia Pacific aviation passenger traffic is increasing the demand for new aircraft and modern-generation engines. Furthermore, strengthening economies and increased defence expenditures in emerging countries such as India and China drive regional market growth.

Major market players included in this report are:

Rolls Royce Holdings Plc (U.K.)
GE Aviation (U.S.)
Hexcel Corporation (U.S.)
Meggitt Plc (U.K.)
Albany International (U.S.)
Nexcelle LLC (U.S.)
Solvay (Belgium)
DuPont de Nemours, Inc. (U.S.)
Safran SA (France)
FACC AG (Austria)

Recent Developments in the Market:
 In July 2022, at its Aerospace Innovation Centre (AIC), Hexcel Corporation collaborated with Spirit AeroSystems to develop more sustainable aircraft manufacturing technology for future aircraft production.

Global Aero Engine Composite Material Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Application, Component, Composite Type, Fiber Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Application:
Commercial Aircraft
Military Aircraft
General Aviation Aircraft

By Component:
Fan Blades
Guide Vanes
Engine Casing
Engine Nacelle
Other Cold End Parts

By Composite Type:
Polymer Matrix Composites
Carbon Matrix Composites
Metal Matrix Composites

By Fiber Type:
Carbon Fibers
Ceramic Fibers
Glass Fibers

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Aero Engine Composite Material Market, by Region, 2019-2029 (USD Billion)
1.2.2. Aero Engine Composite Material Market, by Application, 2019-2029 (USD Billion)
1.2.3. Aero Engine Composite Material Market, by Component, 2019-2029 (USD Billion)
1.2.4. Aero Engine Composite Material Market, by Composite Type, 2019-2029 (USD Billion)
1.2.5. Aero Engine Composite Material Market, by Fiber Type, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Aero Engine Composite Material Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Aero Engine Composite Material Market Dynamics
3.1. Aero Engine Composite Material Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing commercial aircraft composites production rate New emission regulations implemented by government agencies
3.1.2. Market Challenges High costs of composite materials
3.1.3. Market Opportunities Rise in technologically advanced engines Reduced cost of carbon fibers
Chapter 4. Global Aero Engine Composite Material Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Aero Engine Composite Material Market, by Application
6.1. Market Snapshot
6.2. Global Aero Engine Composite Material Market by Application, Performance – Potential Analysis
6.3. Global Aero Engine Composite Material Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
6.4. Aero Engine Composite Material Market, Sub Segment Analysis
6.4.1. Commercial Aircraft
6.4.2. Military Aircraft
6.4.3. General Aviation Aircraft
Chapter 7. Global Aero Engine Composite Material Market, by Component
7.1. Market Snapshot
7.2. Global Aero Engine Composite Material Market by Component, Performance – Potential Analysis
7.3. Global Aero Engine Composite Material Market Estimates & Forecasts by Component 2019-2029 (USD Billion)
7.4. Aero Engine Composite Material Market, Sub Segment Analysis
7.4.1. Fan Blades
7.4.2. Guide Vanes
7.4.3. Shrouds
7.4.4. Engine Casing
7.4.5. Engine Nacelle
7.4.6. Other Cold End Parts
Chapter 8. Global Aero Engine Composite Material Market, by Composite Type
8.1. Market Snapshot
8.2. Global Aero Engine Composite Material Market by Composite Type, Performance – Potential Analysis
8.3. Global Aero Engine Composite Material Market Estimates & Forecasts by Composite Type 2019-2029 (USD Billion)
8.4. Aero Engine Composite Material Market, Sub Segment Analysis
8.4.1. Polymer Matrix Composites
8.4.2. Carbon Matrix Composites
8.4.3. Metal Matrix Composites
Chapter 9. Global Aero Engine Composite Material Market, by Fiber Type
9.1. Market Snapshot
9.2. Global Aero Engine Composite Material Market by Fiber Type, Performance – Potential Analysis
9.3. Global Aero Engine Composite Material Market Estimates & Forecasts by Fiber Type 2019-2029 (USD Billion)
9.4. Aero Engine Composite Material Market, Sub Segment Analysis
9.4.1. Carbon Fibers
9.4.2. Ceramic Fibers
9.4.3. Glass Fibers
Chapter 10. Global Aero Engine Composite Material Market, Regional Analysis
10.1. Aero Engine Composite Material Market, Regional Market Snapshot
10.2. North America Aero Engine Composite Material Market
10.2.1. U.S. Aero Engine Composite Material Market Application breakdown estimates & forecasts, 2019-2029 Component breakdown estimates & forecasts, 2019-2029 Composite Type breakdown estimates & forecasts, 2019-2029 Fiber Type breakdown estimates & forecasts, 2019-2029
10.2.2. Canada Aero Engine Composite Material Market
10.3. Europe Aero Engine Composite Material Market Snapshot
10.3.1. U.K. Aero Engine Composite Material Market
10.3.2. Germany Aero Engine Composite Material Market
10.3.3. France Aero Engine Composite Material Market
10.3.4. Spain Aero Engine Composite Material Market
10.3.5. Italy Aero Engine Composite Material Market
10.3.6. Rest of Europe Aero Engine Composite Material Market
10.4. Asia-Pacific Aero Engine Composite Material Market Snapshot
10.4.1. China Aero Engine Composite Material Market
10.4.2. India Aero Engine Composite Material Market
10.4.3. Japan Aero Engine Composite Material Market
10.4.4. Australia Aero Engine Composite Material Market
10.4.5. South Korea Aero Engine Composite Material Market
10.4.6. Rest of Asia Pacific Aero Engine Composite Material Market
10.5. Latin America Aero Engine Composite Material Market Snapshot
10.5.1. Brazil Aero Engine Composite Material Market
10.5.2. Mexico Aero Engine Composite Material Market
10.5.3. Rest of Latin America Aero Engine Composite Material Market
10.6. Rest of The World Aero Engine Composite Material Market
Chapter 11. Competitive Intelligence
11.1. Top Market Strategies
11.2. Company Profiles
11.2.1. Rolls Royce Holdings Plc (U.K.) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.2.2. GE Aviation (U.S.)
11.2.3. Hexcel Corporation (U.S.)
11.2.4. Meggitt Plc (U.K.)
11.2.5. Albany International (U.S.)
11.2.6. Nexcelle LLC (U.S.)
11.2.7. Solvay (Belgium)
11.2.8. DuPont de Nemours, Inc. (U.S.)
11.2.9. Safran SA (France)
11.2.10. FACC AG (Austria)
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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