The “Advanced Space Composites Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Advanced Space Composites Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global advanced space composites market size is forecast to reach US$ 2.75 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.55% during the forecast period from 2022 to 2030.
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In order to create a ply or lamina, advanced composite materials combine high-performance reinforcing fibers with a toughened polymeric matrix. These materials are strong, lightweight, and tailored. The low density, high strength fibers take up a significant portion of the volume. Advanced composites have a number of desirable physical and chemical characteristics, including dimensional stability, temperature and chemical resistance, flex performance, light weight combined with high stiffness (elasticity), and strength along the direction of the reinforcing fiber. In many applications, especially in the aerospace industry, advanced composites are taking the place of metal components.
Factors Influencing Market Growth
The increasing satellite launches, deep space activities, and the growing usage of commercial off-the-shelf components drive the global market.
The increased cost associated with the development and design of space components may slow down the overall market growth.
The rising progress in 3D Printing technology and the adoption of new materials to manufacture space electronics are forecast to offer lucrative opportunities for the global market.
The decreased maintenance, longer design life, fewer parts, and fewer tooling and assembly costs fuel the global market growth.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Several governments worldwide imposed a lockdown in order to curb the virus from spreading. This led to a sharp decline in production. In addition, the lack of adequate manpower and raw materials impacted the industry trends.
However, as the space sectors recover with decreasing COVID-19 cases worldwide, the consumption of advanced composites will increase. In addition, the increasing R&D activities in the space sector will grow the demand for advanced composites during the forecast period.
Regional Analysis
North America garnered a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the existence of the key competitors favorably engaged in developing and providing advanced materials for space applications. In addition, the constant technological advancement will boost the market growth in the region.
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Leading Competitors
The leading prominent companies profiled in the global advanced space composites market are:
Lockheed Martin
Toray Advanced Composites
Airborne
Advanced Composite Products and Technology, Inc.
Applied Composites
Infinite Composites Technologies
RUAG Group
HyPerComp Engineering
Cecence Limited
AdamWorks
Toray Advanced Composites
Applied Composites
Cimarron Composite
CST Composites
Matrix Composites (an ITT Company)
Microcosm, Inc.
Peak Technology
Stelia Aerospace North America Inc.
Other Prominent Players
Scope of the Report
The global advanced space composites market segmentation focuses on Platform, Component, Material, Manufacturing, Service, and Region.
Segmentation based on Platform
Satellite
o Small Satellite (0-1,200kg)
o Medium Satellite (1,201-2,200kg)
o Large Satellite (Above 2,200kg)
Launch Vehicles
Deep Space Probes and Rovers
Segmentation based on Component
Payloads
Structures
Antenna
Solar Array Panels
Propellent Tank
Spacecraft Module
Sunshade Door
Thrusters
Thermal Protection
Others
Segmentation based on Material
Fiber Type
o Carbon Fiber
o Glass Fiber
Resin Type
o Thermosetting
o Thermoplastic
Nanomaterials
Ceramic Matrix Composites (CMC) and Metal Matrix Composites (MMC)
Segmentation based on Manufacturing
Automated Fiber Placement
Compression Molding
Additive Manufacturing
Others
Segmentation based on Service
Repair and Maintenance
Manufacturing
Design and Modeling
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
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