The global aerospace plastics market is
expected to reach USD 1.04 million by 2025, according to a new report by Grand
View Research, Inc. Non-corrosive nature and high-temperature resistance of
plastics are expected to bolster market growth over the forecast period.
Aerospace plastics exhibit heat
resistance and high strength properties. It's high modulus of elasticity aids
in the production of various aircraft components such as fuselage, airframe,
empennage, etc. In addition, plastics are lightweight nevertheless high-performance
alternatives to metals such as steel and aluminum; as a result, the market is
expected to grow significantly.
Growing adoption of highly
durable and chemical resistant plastics are expected to drive market over the
forecast period. However, the components manufactured with the use of polymers
are hard to inspect for flaws, leading to quality variations and defects.
Increased incidents of plastic fracture and failure along with high
maintenance, repair and operating costs are posing a threat to aerospace
plastics market growth.
Aerospace plastics provide a high
degree of freedom in the designing of complicated components of an aircraft. As
a result, the percentage of the material utilized in manufacturing commercial
and military aircrafts has increased significantly over the past couple of
decades, which in turn has bolstered the demand for polymers in aerospace
applications.
Browse full research report on Aerospace Plastics Market: http://www.grandviewresearch.com/industry-analysis/aerospace-plastics-market
Further key findings from the report suggest:
- Aerostructure segment accounted for was over 291.3
million in 2016. The growing use of plastics in fuselage, airframe and
other integral components of an aircraft is expected to drive segment
growth over the next eight years.
- The demand for the product in propulsion systems was
over 2,847.6 tons in 2016. The utilization of the polymers in propeller
systems, bearing bushes, turbines and nacelles are expected to have a
positive impact on industry growth over the forecast period
- Commercial & freighter aircraft accounted for the
majority of the revenue share. The rapid growth in the air passenger
traffic has led to the increased production of commercial aircraft, which
in turn is expected to bolster the demand for the polymers
- North America accounted for the over 40% of the
revenue share in 2016. The growing demand for commercial aircraft coupled
with the presence of Boeing, a leading manufacturer of aircraft is
expected to drive the demand for aerospace polymers in the region
- The market is fragmented wherein the global players
adopt various marketing and pricing strategies to gain market share and
acquire the business from major aircraft manufacturers such as Airbus,
Boeing, and Lockheed Martin
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has segmented the global aerospace
plastics market on the basis of application, end-use, and region:
Aerospace Plastics Application Outlook (Volume, Tons;
Revenue, USD Million, 2014 - 2025)
- Aerostructure
- Components
- Equipment,
systems & support
- Cabin
interiors
- Propulsion
systems
- Satellites
- Construction
and insulation components
Aerospace Plastics End-Use Outlook (Volume, Tons;
Revenue, USD Million, 2014 - 2025)
- Commercial
& freighter aircrafts
- Military
aircrafts
- Rotary
aircrafts
- General
aviation
- Others
Aerospace Plastics Regional Outlook (Volume, Tons;
Revenue, USD Million, 2014 - 2025)
- North
America
- Europe
- Asia
Pacific
- Rest
of World
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-aerospace-plastics-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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