The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Aeroengine Composites Global Market Report 2024, the aeroengine composites market is expected to show significant growth in the forecast period.

The aerospace industry is undergoing a transformative phase with the increasing demand for low-fuel engines driving the growth of the aero-engine composites market.

• Market Growth Overview: The market size has grown rapidly in recent years, from $2.22 billion in 2023 to $2.6 billion in 2024, with a projected compound annual growth rate (CAGR) of 17.1%. It is expected to reach $4.45 billion by 2028, with a CAGR of 14.4%.
• Driving Factors: Weight reduction requirements, improved fuel efficiency demands, regulatory standards for emissions, and increased emphasis on engine performance have fueled market growth.
• Low-Fuel Engines Demand: The International Air Transport Association (IATA) aims to reduce carbon dioxide emissions in net aviation by 50% by 2050, emphasizing the need for low-fuel engines.
• Key Players: Major companies in the market include Solvay SA, Meggitt plc, Hexcel Corporation, and others.

View More On The Aeroengine Composites Market Report 2024 – https://www.thebusinessresearchcompany.com/report/aeroengine-composites-global-market-report

Technological Advancements In Aero-Engine Composites For Fuel Efficiency And Sustainability

Technological advancements play a crucial role in enhancing fuel efficiency and sustainability in the aero-engine composites market.

• Advanced Technologies Adoption: Manufacturers are increasingly adopting advanced technologies to manufacture aero-engine composites for high fuel efficiency and reduced CO2 emissions.
• Example: GE Aviation and Safran S.A. launched the CFM RISE program to increase fuel efficiency by over 20% through technologies like composite fan blades and ceramic matrix composites (CMC).

Global Expansion And Strategic Growth: Parker-Hannifin’s Acquisition Of Meggitt Plc

Strategic acquisitions and expansions contribute to the growth and consolidation of the aero-engine composites market.

• Acquisition Overview: In September 2022, Parker-Hannifin acquired Meggitt PLC for approximately $7.4 billion (£6.3 billion), enhancing its portfolio and geographic footprint.
• Meggitt’s Significance: Meggitt, a UK-based composites manufacturer, adds value to Parker-Hannifin’s offerings and expands its market presence.

Market Segmentation and Regional Trends
Understanding market segmentation and regional trends provides insights into market dynamics and growth opportunities.

• Segmentation:
  1. By Type: Polymer Matrix Composites, Ceramic Matrix Composites, Metal Matrix Composites
  2. By Component: Fan Blades, Fan Case, Guide Vanes, Shrouds, Other Components
  3. By Application: Commercial Aircraft, Military Aircraft, General Aviation Aircraft
• Regional Trends: North America dominated the market in 2023, while Asia-Pacific is projected to be the fastest-growing region in the forecast period.

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The Aeroengine Composites Global Market Report 2024  provides an in-depth analysis on the aeroengine composites market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the aeroengine composites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Aerospace Global Market Report 2024
Aerospace Support And Auxiliary Equipment Global Market Report 2024
Aerospace Materials Global Market Report 2024

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