The freshly released report by Value Market Research, estimates the Global Aerospace Plastics Market to reach USD 18.0 BN by 2025 from USD 10.5 BN (by revenue) in 2018. The report foresees a steady CAGR of 8% during 2019- 2025. The report on Global Aerospace Plastic Market demonstrates all the latest update which helps to get a better understanding of the present and future trends in this market.
The Aerospace plastic market is categorized under those advance plastic composite material which is popular for its efficient modulus of elasticity, high strength physical properties, and heat resistance properties. These plastics are viable alternatives over other conventional composite and are used in military, rotary, freighter planes, and general aviation planes. Owing to their lightweight and enhanced performance abilities aerospace plastics are broadly used for the production of a wide range of aircrafts’ components such as cabins, decks, empennages, airframes, cockpits, wings, rotor blades, and many more.
The repor "Global Aerospace Plastics Market Report By Application (Airframe & Fuselage, Flight Deck & Cockpit, Cabin Areas, Empennage, Wings & Rotor Blades, And Others), End-Use (Commercial Freighter Aircrafts, Rotary Aircrafts, General Aviation, And Military Aircrafts) And By Regions - Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2018-2025” unveils current and future market estimates, growth path, up-coming trends, along with current market opportunities and restraints.
Increasing production of the lightweight composite in order to improve aircraft fuel efficiency and performance is expected to stroke the market growth over the forecast timeline. Rising demand for business jets and military aircraft is also expected to offer substantial growth to the market. Development in the aviation industry coupled with a high investment in the defense sector across the globe will also promote the aerospace plastics industry value. Upcoming advancements in the engineered polymers industry are further expected to offer an immense growth opportunity to the market.
The segmentation area cover application, end-use, and region. Application area includes airframe & fuselage, flight deck & cockpit, cabin areas, empennage, wings & rotor blades, and others. Airframe & fuselage applications accounted for highest share in the market owing to lightweight aerospace plastic and presence of high amount of carbon fiber reinforced plastic which makes them suitable for airframe and fuselage component lighter. The end-user section comprises of commercial freighter aircrafts, rotary aircrafts, general aviation, and military aircrafts. Commercial aircraft have been emerged as the major end-user segment for aerospace plastics owing to the rising adoption of advance engineering plastic across various service providers in the air transport industry. Also, less maintenance and operational costs due to weight reduction have promoted aviation industry to adopt polymer content in commercial & freighter aircraft. Regional assessment encompasses the major top area include, North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Europe has emerged as one of the leading markets as it is a prominent center for the aviation industry and established engineering practice in the region, which is likely to drive industry expansion.
The Report Segments Global Aerospace Plastics Market -
Players Profiled In The Report:
BASF SE, Cytec Industries Inc., Ensinger GmbH., Evonik Industries AG, Hexcel Corporation., HITCO Carbon Composites, Inc, Holding Company Composite, Hyosung Corporation, Kaman Aerospace Corporation, Mitsubishi Heavy Industries Ltd., Premium Aerotec GmbH, Solvay S.A., Toho Tenax Co. Ltd., and Toray Carbon Fibers America Inc.
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