, /PRNewswire/ -- The global size is estimated to grow by billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.5% during the forecast period.
For more insights on the forecast market size and historic data (2018 - 2022) - The aerospace composite market is experiencing significant growth due to the increasing use of carbon fiber-reinforced polymer (CFRP) composites in aircraft components. CFRP's exceptional strength-to-weight ratio improves aircraft performance and fuel efficiency, reducing overall weight and fuel consumption. Its design flexibility enables optimized component design for higher efficiency and aerodynamics, while its corrosion-resistance lowers maintenance costs.
Major companies like Boeing and Airbus use CFRP in their latest models, such as the 787 Dreamliner and A350 XWB, driving market growth. The aerospace composite market is experiencing significant growth, with key players focusing on developing advanced materials for aircraft manufacturing. Boeing and Airbus are major contributors to this market, utilizing composite materials for lighter and stronger airframes.
Carbon fiber reinforced polymers (CFRP) are becoming increasingly popular due to their high strength-to-weight ratio and durability. Composites also offer improved fuel efficiency and reduced maintenance costs. In 2021, the market size was estimated at and is projected to reach by 2026.
Composites are also used in the production of wings, fuselages, and ot.