The Aviation Carbon Fiber Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Aviation Carbon Fiber Global Market Report 2024, The aviation carbon fiber market size has grown strongly in recent years. It will grow from $2.47 billion in 2023 to $2.69 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to aircraft lightweighting initiatives, increasing demand for fuel-efficient aircraft, stringent emission standards, expansion of the commercial aircraft fleet, preference for high-performance materials.
The aviation carbon fiber market size is expected to see strong growth in the next few years. It will grow to $3.65 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to rapid growth in electric and hybrid aircraft, increasing emphasis on sustainable aviation, integration of composite materials in aircraft design, urban air mobility (uam) and advanced aerial vehicles, global efforts to reduce carbon footprint. Major trends in the forecast period include increased use in aircraft components, rising demand for lightweight aircraft, advancements in manufacturing technologies, focus on fuel efficiency and emissions reduction, expansion of electric and hybrid aircraft.
Growth in passenger air traffic is expected to propel the growth of the aviation carbon fiber market going forward. Passenger air traffic refers to an increase in the number of passengers traveling by air over time that can be measured in a variety of ways, including the number of passengers carried by airlines, the number of flights operated, and the revenue generated by the air travel industry. Carbon fiber composites are being used in aircraft manufacturing due to their lightweight properties, high strength, and fuel efficiency, which offer improved passenger experiences such as more spacious and comfortable cabins. For instance, in February 2023, according to the International Air Transport Association (IATA), a Canada-based association of world airlines, international passenger traffic increased by 152.7% in 2022 compared to 2021. Additionally, Asia-Pacific airlines reported an increase of 363.3% in full-year international traffic in 2022 compared to 2021, maintaining the highest year-over-year rate among the regions. Therefore, the growth in passenger air traffic is driving the growth of the aviation carbon fiber market going forward.
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The aviation carbon fiber market covered in this report is segmented –
1) Aviation Carbon Fiber Market By Type: Continuous, Long, Short
2) Aviation Carbon Fiber Market By Raw Material: Pan-Based Carbon Fiber, Pitch-Based Carbon Fiber
3) Aviation Carbon Fiber Market By End-Use: Commercial Aircraft, Military Aircraft
Technological advancements are a key trend gaining popularity in the aviation carbon fiber market. Companies operating in the aviation carbon fiber market are adopting new technologies in the manufacturing of carbon fiber materials used in the aviation industry to sustain their position in the market. For instance, in October 2023, Toray Industries, a Japan-based manufacturer of carbon fiber, launched TORAYCA T1200, the highest-strength carbon fiber globally. This new offering should help to reduce environmental footprints by creating lighter carbon-fiber reinforced plastic materials. Its potential applications span from sporting and leisure goods to aircraft, contributing to various industries.
The aviation carbon fiber market report table of contents includes:
1. Executive Summary
2. Aviation Carbon Fiber Market Characteristics
3. Aviation Carbon Fiber Market Trends And Strategies
4. Aviation Carbon Fiber Market - Macro Economic Scenario
5. Global Aviation Carbon Fiber Market Size and Growth
......
31. Global Aviation Carbon Fiber Market Competitive Benchmarking
32. Global Aviation Carbon Fiber Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Aviation Carbon Fiber Market
34. Aviation Carbon Fiber Market Future Outlook and Potential Analysis
35. Appendix
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