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Pulished Date November, 2021
ID: 12438
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Aero-engine composites market is segmented by Aircraft Type (Narrow-Body Aircraft, Wide-Body Military aircraft, Regional aircraft, Military, and Helicopter aircraft), by Composite (Polymer matrix composite, Carbon matrix composite, metal matrix composite), By Application (Commercial Aircraft, Military Aircraft, and General Aviation Aircraft), By Component (Fan Blades, Fan Case, Outlet Guide Vanes, Shrouds, and Others), Regional and Industry Analysis forecast period 2021-2026.

Pulished: November, 2021
ID: 12438
Pages: 175

Aero-Engine Composites Market Size & Growth (2021-2026):

The Aero-Engine Composites Market is expected to develop at a CAGR of 13.9% between 2021 and 2026, with a USD 1.85 billion in 2021 and expected to reach USD 4.35 billion by 2026.

The Aero-engine composite market accounts for a small share of the overall aviation composites production. However, it is predicted to increase at a rapid pace during the next five years. The key growth driver of the market is rising composite penetration in the latest aviation engines, such as LEAP, GEnx, GE9x, and passport 20, and increasing production rates of the next-generation composite-rich aircraft, such as the A350XWB, B787, and F-35. In addition, the increasing need for fuel-efficient engines, growing fan diameters of newer engine versions, and the launch of fuel-efficient variants of the best-selling aircraft with higher composites content: The A320neo and B737 Max are two further examples of composites in aero engines growing in popularity.                                                      

Market Drivers:

Aircraft production speeds increase as demand for next-generation Aero-engine Composites grows, resulting in larger market revenues. Manufacturers are increasingly using composite materials in aircraft engines to reduce total weight and improve operability in a variety of operating situations. As a result, many players invest considerable amounts of money in research and development to make airplane engines utilizing various composite materials. Aero Engine composites are now a modest portion of the global aircraft composites market, but they are predicted to overgrow over the next six years.

Market Restraints:

The aero-engine composite materials have a high initial cost, internal deterioration hidden by the outer composite material, raising safety concerns. Aero-engine composites are included compared to metallic structures; they have higher raw material prices and usually high manufacturing and assembly costs, inadequate strength in the out-of-plane direction where the matrix carries the principal load, susceptibility damage, and more difficulty repairing them. Moreover, the major drawback of aero-engine composite materials is that they are difficult to break. Still, it just means that it is impossible to recognize if the aircraft's inside structure has been harmed. Therefore, these are the significant factors that hamper the aero-engine composites market growth in the upcoming years.

AERO-ENGINE COMPOSITES MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2026

Base Year

2021

Forecast Period

2021 - 2026

CAGR

13.9%

Segments Covered

By Aircraft Type, By Composite, By Application, By Components

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Safran SA, Meggit PLC, Hexcel Corporation, GE Aviation, Solvay SA, CFAN, Triumph Group Inc., GKN Aerospace, FACC AG, Safran Aerospace Composite.

Market Segmentation:                   

Aero-Engine Composites Market By Aircraft Type:

  • Narrow-Body Aircraft
  • Wide-Body Military Aircraft
  • Regional Aircraft
  • Military and Helicopter Aircraft

The wide-body aircraft segment is expected to dominate the global aero-engine composites market growth during the forecast period. The wide-body aircraft segment is being driven by increased production rates of the next-generation aircraft programs A350XWB and B787 and increased composites penetration in newer variants of aircraft, such as the B777x. 

Aero-Engine Composites Market By Composite:

  • Polymer Matrix composite
  • Carbon Matrix composite
  • Metal Matrix composite 

The Polymer matrix composites segment is predicted to hold the largest share in the global aero-engine composites market over the next six years. Moreover, it is primarily utilized to develop all the engine's primary composite components, such as fan blades and fan casings.

The metal matrix composite segment is expected to dominate the market because of its widespread use in new-generation engines. 

Aero-Engine Composites Market By Application:

  • Commercial aircraft
  • Military Aircraft
  • General Aviation aircraft
  • Others 

The commercial aircraft segment had the highest global aero-engine composites market share in 2021. The desire for narrowbody aircraft is one of the market's primary drivers from the commercial sector. Airbus announced a backlog of 7,184 planes by December 2021, with the A220 and A320ceo/neo family narrowbody aircraft accounting for 88.70 percent of the total. Similarly, Boeing has a backlog of 4,997 aircraft, with 4,031 of them being 737 NG/MAX narrowbody jets. In terms of total deliveries, 2018 was the best year for Boeing. In 2018, Boeing delivered 806 airplanes, and Airbus delivered 800. However, following two tragic 737MAX plane crashes in 2019 that resulted in the plane being grounded, Boeing deliveries plummeted in 2019. As a result, Boeing only delivered 380 commercial aircraft in 2019, whereas Airbus delivered 863. Embraer supplied 130 planes to clients in 2021, with a backlog of 281 planes after the year.

Aero-Engine Composites Market By Components:     

  • Fan Blades
  • Fan Case 
  • Outlet Guide Vanes
  • Shrouds
  • Others

The Fan Blade segment is the fastest-growing segment during the forecast period. New-generation engine types, such as the GEnx, GE9X, Pratt GTF, LEAP-1A, LEAP-1B, and LEAP-1C, have composite fan blades, resulting in a massive market share for the segment.

Regional Analysis:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle-East-America

The Aero-engine composites are now the fastest-growing market in Asia-Pacific. The increasing procurement of engines that use these composites is the cause of this high growth rate. In the commercial sector, Asia-Pacific clients will account for more than one-third of the commercial aircraft deliveries of two aerospace giants, Airbus SE, and The Boeing Company. Air Asia just announced in June 2019 that they are changing a 253 A320-200neo order to the bigger A321-200neo aircraft. China is anticipated to be the region's new growth engine. The presence of A320neo and B737 Max assembly plants and the impending C919 aircraft is likely to fuel growth in the country. 

North America is expected to have the most prominent global aero-engine composites market share during the forecast period, owing to being the world's largest aircraft manufacturer. In addition, significant engine manufacturers such as GE Aviation, CFM International, and Pratt & Whitney are anticipated to keep the United States as the region's growth engine during the projected period. 

The aero-engine composites market in Europe is expected to grow reasonably because of the existence of important Aero-engine Composite manufacturers and service providers like Rolls-Royce Aerospace.

Market Key Players:

  • Safran SA
  • Meggit PLC
  • Hexcel Corporation
  • GE Aviation
  • Solvay SA
  • CFAN
  • Triumph Group Inc.
  • GKN Aerospace
  • FACC AG
  • Safran Aerospace Composite 

Impact of Covid-19 on Aero-Engine Composites Market:

The covid-19 pandemic in 2021 has significantly influenced the aviation industry, with some aircraft operators filing for bankruptcy, reducing demand for planes and aircraft engines. In addition, as governments focus on improving healthcare infrastructure, future defense spending reductions may also hamper future military aircraft buying plans. Moreover, the shutdown of industries in various countries in 2021 disrupted component and material manufacturing and affected the supply chain for aircraft and engine manufacturing. Situations are expected to stabilize post-2021, but the demand is expected to remain lower than the pre-covid-19 level shortly.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Aero-engine composites market, By Aircraft Type                    

                                6.1.1 Narrow-Body Aircraft         

                                6.1.2 Wide-Body Military aircraft              

                                6.1.3 Regional aircraft    

                                6.1.4 Military, and Helicopter aircraft      

                                6.1.5 Market Size Estimations & Forecasts (2021-2026)   

                                6.1.6 Y-o-Y Growth Rate Analysis             

                                6.1.7 Market Attractiveness Index          

                6.2 Aero-engine composites market, By Composite                        

                                6.2.1 Polymer matrix composite               

                                6.2.2 Carbon matrix composite 

                                6.2.3 metal matrix composite    

                                6.2.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.2.5 Y-o-Y Growth Rate Analysis             

                                6.2.6 Market Attractiveness Index          

                6.3 Aero-engine composites market, By Application                       

                                6.3.1 Commercial Aircraft            

                                6.3.2 Military Aircraft     

                                6.3.3 General Aviation Aircraft  

                                6.3.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.3.5 Y-o-Y Growth Rate Analysis             

                                6.3.6 Market Attractiveness Index          

                6.4 Aero-engine composites market, By Component                      

                                6.4.1 Fan Blades               

                                6.4.2 Fan Case  

                                6.4.3 Outlet Guide Vanes            

                                6.4.4 Shrouds    

                                6.4.5 Others      

                                6.4.6 Market Size Estimations & Forecasts (2021-2026)   

                                6.4.7 Y-o-Y Growth Rate Analysis             

                                6.4.8 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Aero-engine composites market, by Region                  

                7.2 North America - Market Analysis (2021 - 2026)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Aircraft Type    

                                7.2.3 By Composite        

                                7.2.4 By Application        

                                7.2.5 By Component      

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Aircraft Type    

                                7.3.3 By Composite        

                                7.3.4 By Application        

                                7.3.5 By Component      

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Aircraft Type    

                                7.4.3 By Composite        

                                7.4.4 By Application        

                                7.4.5 By Component      

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Aircraft Type    

                                7.5.3 By Composite        

                                7.5.4 By Application        

                                7.5.5 By Component      

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Aircraft Type    

                                7.6.3 By Composite        

                                7.6.4 By Application        

                                7.6.5 By Component      

8. Key Player Analysis                                    

                8.1 Safran SA                     

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Meggit PLC                 

                8.3 Hexcel Corporation                 

                8.4 GE Aviation                 

                8.5 Solvay SA                     

                8.6 CFAN                             

                8.7 Triumph Group Inc.                 

                8.8 GKN Aerospace                        

                8.9 FACC AG                      

                8.10 Safran Aerospace Composite                           

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global, regional and c,ountry-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and also identifying the regions that are still untapped
  • The segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis, and analyst overview to study and sustain the market environment
  • Competitive landscape analysis lists out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Aero-engine composites Market By Region, From 2021-2026 ( USD Billion )
  2. Global Aero-engine composites Market By Aircraft Type , From 2021-2026 ( USD Billion )
  3. Global Narrow-Body Aircraft Market By Region, From 2021-2026 ( USD Billion )
  4. Global Wide-Body Military aircraft Market By Region, From 2021-2026 ( USD Billion )
  5. Global Regional aircraft Market By Region, From 2021-2026 ( USD Billion )
  6. Global Military, and Helicopter aircraft Market By Region, From 2021-2026 ( USD Billion )
  7. Global Aero-engine composites Market By Composite, From 2021-2026 ( USD Billion )
  8. Global Polymer matrix composite Market By Region, From 2021-2026 ( USD Billion )
  9. Global Carbon matrix composite Market By Region, From 2021-2026 ( USD Billion )
  10. Global metal matrix composite Market By Region, From 2021-2026 ( USD Billion )
  11. Global Aero-engine composites Market By Application, From 2021-2026 ( USD Billion )
  12. Global Commercial Aircraft Market By Region, From 2021-2026 ( USD Billion )
  13. Global Military Aircraft Market By Region, From 2021-2026 ( USD Billion )
  14. Global General Aviation Aircraft Market By Region, From 2021-2026 ( USD Billion )
  15. Global Aero-engine composites Market By Component, From 2021-2026 ( USD Billion )
  16. Global Fan Blades Market By Region, From 2021-2026 ( USD Billion )
  17. Global Fan Case Market By Region, From 2021-2026 ( USD Billion )
  18. Global Outlet Guide Vanes Market By Region, From 2021-2026 ( USD Billion )
  19. Global Shrouds Market By Region, From 2021-2026 ( USD Billion )
  20. Global Others Market By Region, From 2021-2026 ( USD Billion )

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