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Aerospace Composites Market is Expected to Record CAGR of 9% By 2026

The aerospace composites market is set to witness remarkable growth on account of increasing number of space exploration activities and rising defense expenditure. Lately, the defense and space sectors have observed increasing popularity, attracting numerous government fundings for initiating new projects. In 2018, the overall space economy was valued at almost USD 414 billion with over 60 space programs operating across the world.

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Aerospace Composites Market is Expected to Record CAGR of 9% By 2026

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  1. Aerospace Composites Market 2020-2026; Growth Forecast & Industry Share Report

  2. KeyInsights Aerospace Composites Market : • The aerospace composites market is set to witness remarkable growth on account of increasing number of space exploration activities and rising defense expenditure. Lately, the defense and space sectors have observed increasing popularity, attracting numerous government fundings for initiating new projects. In 2018, the overall space economy was valued at almost USD 414 billion with over 60 space programs operating across the world. • Aerospace composites usually operate effectively in harsh environments as well as exhibits superior heat resistance ability, making it ideal for stabilizers, wings, and fuselages. Growing concerns over fuel-efficiency may support the use of these composites in exterior applications. Estimates have it that the exterior application segment could register a strong compound annual growth rate of 9.5% by 2026.

  3. Continued… • Growing demand for high stress enduring components have fostered the aramid/Kevlar-based aerospace composites market. The segment is projected to record a healthy CAGR of nearly 9% by 2026. These fibers generally have low weight properties and offer high impact resistance. It is 40% lighter compared to glass fiber. • Meanwhile, thermosetting resin segment is anticipated to register a CAGR of over 9% by 2026. This growth can largely be attributed to the product’s low viscosity and ability to shape into complex designs. Epoxy-carbon based thermosetting composites are most commonly used in developing aircraft structural parts.

  4. Latest Research Aerospace Composites Market@ https://bit.ly/2SU6Qtd Request for a Sample Copy of This Research Report @ https://bit.ly/3bpD3Ps

  5. Major Companies Aerospace Composites Market: • Cytec Industries • Koninklijke Ten Cate Kaneka Corporation • Argosy International • Axioms Materials • BASF SE • E. I. du Pont de Nemours • Gurit Holding AG

  6. Regional Aerospace Composites Market: • APAC is likely to multiply its aircraft fleet in the upcoming decades as it is dominated by developing countries like China, India, and Japan. These countries are renowned for their proliferating commercial, space, and military aircraft industries. • Business aircraft are likely to witness exponential rise in demand, with the U.S. being at the forefront of the business aircrafts space, accounting for almost 70% of the global business airplanes. Rising use of aerospace composites to improve the fuel efficiency of business planes while providing remarkable aerodynamic performance will enhance the industry outlook over the predicted timeframe.

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