Global Aeroengine Composites Market to Reach US$ 7.8 Billion by 2032, Propelled by Increasing Air Traffic Worldwide

September 28, 2023 | Aerospace and Defense

According to the latest report by IMARC Group, titled “Aeroengine Composites Market by Component (Fan Blades, Fan Case, Guide Vanes, Shrouds, and Others), Composite Type (Polymer Matrix Composites, Ceramic Matrix Composites, Metal Matrix Composites), Application (Commercial Aircraft, Military Aircraft, General Aviation Aircraft), and Region 2024-2032,” the global aeroengine composites market size reached US$ 2.8 Billion in 2023. Aeroengine composites refer to advanced materials used in the construction of aircraft engines and other components like fan blades, casings, and structural parts. They provide strength, durability, and lightweight properties to enhance the performance and efficiency of aircraft engines. They are lighter than traditional materials like metals, reducing the overall weight of the engine and the aircraft. They offer impressive strength-to-weight ratios, making them suitable for critical engine components that need to withstand extreme forces and temperatures. They can withstand high temperatures, which makes them ideal for parts exposed to the intense heat generated within aircraft engines. They are widely utilized to dampen engine noise, enhance passenger comfort, and meet noise regulations.

Global Aeroengine Composites Market Trends:

The increasing air traffic worldwide represents one of the key factors facilitating the market growth. Apart from this, the implementation of stringent environmental regulations and fuel efficiency standards is encouraging aircraft manufacturers to incorporate composites to lower overall aircraft weight and improve fuel economy. Furthermore, innovations in composite manufacturing, such as automated layup processes and three-dimensional (3D) printing, are reducing production costs and enhancing the feasibility of composites in aero engines. Furthermore, the development of advanced composite materials, including carbon-fiber-reinforced composites and ceramic matrix composites, is offering improved strength-to-weight ratios and temperature resistance for aero engine components. Moreover, leading aerospace manufacturers are increasingly focusing on sustainability, which is promoting the adoption of composites to reduce carbon emissions through lighter aircraft. Besides this, the rise of electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility applications is driving the demand for lightweight composites that can support these innovative propulsion systems. Looking forward, the market value is projected to reach US$ 7.8 Billion by 2032, expanding at a CAGR of 11.61% during 2024-2032.

Market Summary:

Based on the component, the market has been segmented into fan blades, fan case, guide vanes, shrouds, and others. Fan blades currently dominate the market.
On the basis of the composite type, the market has been classified into polymer matrix composites, ceramic matrix composites, and metal matrix composites. At present, polymer matrix composites represent the largest segment.
Based on the application, the market has been segregated into commercial aircraft, military aircraft, and general aviation aircraft. Commercial aircraft accounts for the majority of the market share.
Region-wise, the market has been categorized into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America holds the largest market share.
The competitive landscape of the market has also been examined, with some of the key players being Albany International Corp., GKN Aerospace Services Limited, Hexcel Corporation, Meggitt Plc (Parker Hannifin Corporation), and Rolls-Royce Plc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Components Covered	Fan Blades, Fan Case, Guide Vanes, Shrouds, Others
Composite Types Covered	Polymer Matrix Composites, Ceramic Matrix Composites, Metal Matrix Composites
Applications Covered	Commercial Aircraft, Military Aircraft, General Aviation Aircraft
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Albany International Corp., GKN Aerospace Services Limited, Hexcel Corporation, Meggitt Plc (Parker Hannifin Corporation), Rolls-Royce Plc, etc.
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Global Aeroengine Composites Market to Reach US$ 7.8 Billion by 2032, Propelled by Increasing Air Traffic Worldwide

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