Aerospace Composites Market Trends

Growth Drivers

• Increasing Performance Requirements – Composites are being used by aviation companies as a way to make airplanes that are more effective and capable. In comparison to conventional materials such as metals, composites provide several important advantages, such as reduced weight, a high tensile factor, and increased durability. It is estimated that composites help to increase fuel savings by over 15% in 787 Dreamliner aircraft.
• Easy Availability and Flexibility in Design– Composites may be easily produced in a broad range of forms and sizes and are generally accessible. They are therefore suitable for use in aircraft applications that need complicated designs and precise specifications. Aerospace manufacturers can produce distinctive and cutting-edge designs thanks to the freedom of design, which is not achievable with conventional materials. The composite materials utilized in the aerospace sector promote over 50% weight savings and 5 times more strength, and 2 times more stiffness.
• Rising Aviation Sector – The need for newer, more advanced aircraft is growing along with the aviation industry. As a result, composite materials are increasingly being used to build airplanes, as they have certain benefits over more conventional materials such as metal. As per the India Brand Equity Foundation, the Indian aviation industry is the world’s third-largest domestic aviation. With an air traffic movement of 613,566 in 2022-2023 raised from 300,405 in 2021-2022 i.e., an increase of 104.24%.
• Increasing Demand for Light Weight Composite Materials – Increasing Demand for Light Weight Composite Materials – A significant weight reduction is achieved by the use of lightweight materials to increase an aircraft's range and fuel economy. As they enable the production of more effective and economical to operate aircraft, they are appealing to both civil and fighter aircraft makers. Composite materials such as carbon fibers in the aerospace industry reduce 90% of metal weight, increase efficiency, and decrease aviation emissions by over 40% by 2050.
• Prevents Anticorrosion Issues – As per the reported data, the corrosion and structural repair issues can be 100% eliminated with aerospace composites. Hence, metals such as aluminum are replaced with composites in aluminum aircraft. 

Challenges

• High Cost of Composites - They are not as affordable as other materials, such as steel and copper. As a result, they are usually sold at a very high price, which makes them a less desirable product in various end-use industries. Therefore, this factor is expected to limit aerospace composites market growth in the coming years.
• Reduction in the Number of Commercial Aircraft Shipments
• Problems Associated with Long-Haul Flight Durability