Business Research Company’s Aerospace Plastics industry report expands on key market growth drivers, trends, and opportunities.
LONDON, June 30, 2022 /PRNewswire/ — The aerospace plastics market includes sales of aerospace plastics by entities (organizations, independent traders, partnerships) that provide the durability, chemical and fire resistance required for aircraft parts and interiors. Aerospace plastics are durable and require less maintenance than other materials. They are lightweight, have the same strength as metals, do not rust and are easy to fabricate.
The size of the global aerospace plastics market is expected to grow from $0.67 billion in 2021 for $0.71 billion in 2022 at a compound annual growth rate (CAGR) by 4.7%. Global Aerospace Plastics Market Forecast Sees It Reaching $0.87 billion in 2026 to a CAGR 5.4%.
Aerospace Plastics Market Growth
The growing size of the commercial aircraft fleet is contributing significantly to the growth of the aerospace plastics market. The aircraft fleet is known as the number of aircraft operated by the respective airline. The increase in the size of the fleet necessitates the installation of new aircraft parts and the replacement of old parts, thus promoting the growth of aerospace plastics used in the manufacture of aircraft parts. For example, according to Boeing, an aerospace company based in the United States, the commercial market outlook for 2021-2040, the global commercial fleet will exceed 49,000 aircraft by 2040. Therefore, the growing size of the aircraft fleet trading is driving the aerospace plastics market.
Aerospace Plastics Market Regional Analysis
North America accounts for the largest market share of aerospace plastics. Asia Pacific is expected to be the fastest growing region during the forecast period. Regions covered in the global Aerospace Plastics market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Aerospace Plastics Industry Overview
1) By polymer type: polyether ether ketone (PEEK), polymethyl methacrylate (PMMA), polycarbonates (PC), polyphenylene sulfide (PPS), acrylonitrile butadiene styrene (ABS)
2) By application: Aircraft chassis, components, cabin interiors, wings and rotor blades, other
3) By end use: commercial aircraft, military aircraft, rotary aircraft, general aviation
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