Global Aerospace Plastics Market Analysis, Growth And Forecasts To 2020: Hexa Research
Emerging trend for high performance and lightweight aircraft components is expected to drive global aerospace plastics demand. Aerospace plastics can be processed to exhibit required characteristics and specifications owing to its high strength and heat resistant properties. These plastics are extensively used in manufacturing of various aircraft components including airframes, rotor blades, wings, empennages, cockpits, decks and cabins. Global aerospace plastics market is expected to be valued at more than USD 13 billion by 2020, with the demand expected to reach over 110,000 tons in the same year.
Various industry applications of aerospace plastics include rotary, military, commercial and other aircraft options. These plastics require complex and expensive fabrication machines in order to provide energy efficient composite alternatives for varying industry application. This labor intensive refining process results in increased costs. Therefore, high operating and repair costs as well as high maintenance may act as a barrier to market growth. Associated carbon fiber toxicity issue is another challenge to be faced by the market.
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Application segment includes cabin areas, flight deck & cockpit, empennage, wings & rotor blades and airframe & fuselage. Wings and rotor blades are used to provide necessary force for aerial propulsion whereas empennage or tail assembly provides stability. Fuselage and airframe construction require different material to evolve such as composite, metal or wood. Employing these materials enable retention at high pressure level while cutting costs and reducing weight. Cockpits and flight deck demand electrical malfunction and high flame resistance properties to become suitable for passenger accommodation at high altitude.
End use segment can be categorized into general aviation, rotary aircrafts, military aircrafts and commercial and fighter aircrafts. Military aircrafts may observe high growth at an expected CAGR for over 13% by 2020. Commercial aircrafts is the dominant market segment owing to emergence of several service providers in the aviation industry. The global aerospace plastics demand in commercial and fighter aircrafts was over 35,000 tons in 2013.
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Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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