Market Executive Summary

REPORT HIGHLIGHT

The aerospace plastic market was valued at USD 720.8 million by 2017, growing with 4.8% CAGR during the forecast period, 2018-2028.

Market Dynamics

Aerospace plastics are materials which are made to have high durability, and chemical resistant. The surging demand for plastics in different aerospace applications like empennage, cabin interiors, fuselage, and airframe will bolster the market growth in the years to follow. Performance and efficiency of an airplane can be improved by bringing about a reduction in airplane weight. It is believed that if the weight of an airplane is brought down by 1 kilogram then it brings about a substantial reduction in the fuels operating cost associated with a commercial airplane. Plastics have high durability and they are light in weight. They make for a good alternative to steel and aluminum components. With the progression of time, these materials are being extensively used in making the structure of an airplane.

Application Takeaway

Application wise, the market is categorized into aerostructure, insulation components, cabin interiors, components, equipment, satellites, systems & support, propulsion systems, and construction. Reinforced plastic made from carbon fiber and composites is extensively used in the manufacturing of aircraft frame. Hence, it brings about a substantial reduction in weight. Aircraft are vulnerable to fatigues as they function in an environment that is characterized by high-tension load. The use of plastics and extended composites can bring down maintenance overheads. When fuselage is made from engineered polymers it facilitates part-count reduction through the use of integral clips and fasteners.

In terms of volume, supplies, systems, and equipment together had the second largest share. It is closely followed by cabin interiors. Aerospace plastics have strong chemical resistance, anti-corrosive properties, and they are lighter in weight. Thus, they prove to be a befitting alternative to steel, aluminum, and other conventional materials. There is no need for riveting when it comes to assembling polymers into large structures. Bonding is good enough for the purpose.

When it comes to the foundation of an aircraft?s size and shape, aerostructure is the most important part of an airplane. Polyoxymethylene (POM) and polyether ether ketone (PEEK) are the two widely used polymers. Heat and corrosion resistance along with high durability makes them perfect for the purpose. With the rising demand for commercial and general aviation, the demand for polymers will grow significantly in future.

End-Use Takeaway

In terms of end-user, the industry is divided into military aircrafts, general aviation, commercial & freighter aircrafts and rotary aircrafts. One of the major end-user segment of aerospace plastic is commercial aircraft. The segment for military aircraft has bright prospect too. Rising concerns related to defense and security is contributing to its increased utilization. Large aircrafts used in freight transportation are some of the major application areas of plastic in the aerospace industry. Use of polymers in aircraft bring about a reduction in the operating cost by minimizing maintenance overheads. Hence, it has been an encouraging factor for the manufacturers for enhancing the concentration of plastic content in freight and commercial aircraft.

Regional Takeaway

The rising demand for fuel-efficient aircraft in Europe due to surging fuel costs and high replacement rate of regional aircraft will bolster the regional growth. There will be an augmentation of the market growth owing to the emergence of the fuel-efficient airplane. The European industry will keep growing due to the availability of capable engineers, a plethora of investment, strong research and development works. As airplane manufacturing companies are coming to the forefront in the Asia Pacific region, countries like China and India will push the market of aerospace polymers in the region.

Key Vendor Takeaway

Companies namely Saudi Arabia Basic Industries Corporation, Kaman Aerospace Corporation, Hyosung Corporation, Toray Carbon Fibers America, Premium Aerotec, SGL Carbon, Toho Tenax Company Limited, BASF Corporation, Holding Company Composite, Ensinger GmbH, Solvay, HITCO Carbon Composites, Inc., and Mitsubishi Heavy Industries Limited are actively operating in this market.

The global market is highly competitive. Multinational companies of the major economies dominate the global market. Toray and Toho Tenax are some of the well-known companies who supply industry grade polymers to leading aircraft manufacturers are like Boeing and Airbus. Collectively, these companies accounted for over 50% revenue share of the global market.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year ? 2017 ? 2021
Base Year ? 2021
Estimated Year ? 2022
Projected Year ? 2028
TARGET AUDIENCE

Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies and Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY APPLICATION

Aerostructure
Insulation Components
Components
Cabin Interiors
Satellites
Equipment
Propulsion Systems
Systems & Support
Construction
MARKET, BY END-USE

Military Aircrafts
General Aviation
Commercial & Freighter Aircrafts
Rotary Aircrafts
MARKET, BY REGION

North America
U.S.
Canada
Europe
Germany
France
Rest of Europe
Asia Pacific
India
China
Rest of APAC
Rest of the World
Middle East and Africa
Latin America