Aeroengine Composites Global Market Report 2024

Aero-engine composites are materials composed of two or more constituent parts utilized in the production of diverse aerospace engines. These composites play a crucial role in reducing overall aircraft weight and enhancing fuel efficiency, offering attributes such as high strength, thermal stability, and impact resistance. They are characterized by ease of assembly and resistance to fatigue or corrosion.

The primary types of aero-engine composites are polymer matrix composites, ceramic matrix composites, and metal matrix composites. Polymer matrix composites involve various organic polymers forming a continuous phase with reinforced fibers, providing a stable platform for evenly distributing fibers across the structure. Components manufactured using these composites include fan blades, fan cases, guide vanes, shrouds, and other integral parts. Aero-engine composites find applications in commercial aircraft, military aircraft, and general aviation aircraft.

The aero-engine composites market research report is one of a series of new reports that provides aero-engine composites market statistics, including aero-engine composites industry global market size, regional shares, competitors with a aero-engine composites market share, detailed aero-engine composites market segments, market trends and opportunities, and any further data you may need to thrive in the aero-engine composites industry. This aero-engine composites market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The aeroengine composites market size has grown rapidly in recent years. It will grow from $2.22 billion in 2023 to $2.6 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth observed in the historic period can be attributed to various factors, including the need for weight reduction in aircraft, heightened demands for improved fuel efficiency, adherence to regulatory standards for emissions, and an increased emphasis on enhancing engine performance. These factors collectively drove the development and adoption of aero-engine composites during that period.

The aeroengine composites market size is expected to see rapid growth in the next few years. It will grow to $4.45 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The anticipated growth in the forecast period can be attributed to several factors, including the rising demand for lightweight aircraft, ongoing advancements in advanced composite materials, stringent emission regulations, an increased adoption of carbon fiber composites, and a growing focus on sustainable aviation practices. Key trends expected in the forecast period encompass the integration of 3D printing in composite manufacturing, advancements in nano-composites for aeroengines, the application of hybrid composite structures, the development of self-healing composites, and an increased emphasis on recycling and the circular economy in composite production. These trends reflect the evolving landscape and innovations in the field of aero-engine composites.

The aero-engine composites market is anticipated to experience growth driven by the constant demand for low-fuel engines. Aircraft engines with low fuel consumption not only contribute to a reduction in carbon dioxide emissions but also lead to lower operational costs for airline companies. The global demand for oil, coupled with dwindling reserves, has resulted in increased oil prices, emphasizing the need for fuel-efficient engines. Improved fuel efficiency not only helps in reducing environmental impact but also results in significant cost savings for airlines. Aero-engine composites play a crucial role in achieving these goals by reducing the overall weight of aircraft, thereby enhancing fuel efficiency. For example, the International Air Transport Association (IATA) has set ambitious targets to reduce carbon dioxide emissions in net aviation by 50% by 2050, driving the demand for low-fuel engines and, consequently, the growth of the aero-engine composites market.

The growth of air travel demand is another factor propelling the aero-engine composites market. As the demand for air travel increases, lightweight and fuel-efficient aircraft engines become crucial. Aero engine composites, such as carbon-fiber-reinforced polymers, contribute to the development of components that reduce the overall weight of engines, improving fuel efficiency and performance. This not only leads to cost savings for airlines but also aligns with the industry's environmental sustainability goals. The increase in air traffic, as indicated by the International Air Transport Association's report of a 39.1% rise in total air traffic in May 2023 compared to May 2022, is driving the demand for aeroengine composites.

Technological advancement is a key trend in the aero-engine composites market, with manufacturers focusing on adopting advanced technologies to manufacture composites that enable high fuel efficiency and reduced CO2 emissions. For example, in June 2021, GE Aviation and Safran S. A. launched the CFM RISE (Revolutionary Innovation for Sustainable Engines) program, aiming to increase fuel efficiency by more than 20% compared to today's engines. The program includes a comprehensive technology roadmap, indicating the critical role of composites, such as composite fan blades, heat-resistant metal alloys, and ceramic matrix composites (CMC), in the development of future engines expected to enter service by the mid-2030s. This emphasis on technological innovation underscores the importance of aero-engine composites in advancing the efficiency and sustainability of aircraft engines.

Prominent enterprises in the aerospace composites sector are engaging in strategic collaborations and partnerships to fortify their positions. As an illustration, in November 2021, Safran SA, a multinational firm headquartered in France specializing in the design, development, and manufacturing of aircraft and rocket engines, entered into a strategic collaboration with Albany International, an industrial goods company based in the USA. This collaboration is geared towards enhancing the next generation of engines, thereby contributing to the aviation industry's commitment to achieving net-zero CO2 emissions by 2050. The 3D-woven composite technology, a significant innovation crafted by Safran in conjunction with Albany Engineered Composites, plays a pivotal role in enhancing the performance of the innovative LEAP engine for the new generation. Both companies aspire to leverage their advanced composite technologies collaboratively to elevate the standards of future aircraft engines.

In September 2022, Parker-Hannifin, a motion and control technologies manufacturer based in the United States, successfully acquired Meggitt PLC for an estimated $7.4 billion (£6.3 billion). This strategic acquisition serves to enhance Parker-Hannifin's portfolio and expand its geographic reach. Meggitt, a composites manufacturer headquartered in the United Kingdom, now becomes an integral part of Parker-Hannifin's business operations.

Major companies operating in the in the aeroengine composites market report are Solvay SA, Meggitt plc, Hexcel Corporation, Albany Engineered Composites Inc., Fischer Advanced Composite Components AG, General Electric Aircraft Engines, Rolls Royce plc, Safran SA, General Dynamics Corporation, GKN Ltd., Triumph Group Inc., Safran Aerospace Composites, Albany International Corp, Mitsubishi Heavy Industries Ltd., Dassault Aviation SA, Arconic Corporation, Aviation Industry Corporation of China Ltd., Aerojet Rocketdyne Holdings Inc., Moog Inc., Diehl Aerospace GmbH, Hexion Inc., Strongwell Corp, Huayuan Advanced Materials Co. Ltd., Toray Industries Inc., Teijin Ltd., Owens-Corning, SGL Carbon SE, Huntsman Corporation, Cytec Industries Inc., DuPont de Nemours Inc.

North America was the largest region in the aeroengine composites market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the aeroengine composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the aeroengine composites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The aero-engine composites market consists of sales of spinners, vanes, ducts, stators, blade spacers, liners and exhaust flaps. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.