Report Ocean is a leading provider of in-depth market research reports, analyzing over 150 countries’ markets. With a focus on accuracy, their team of expert researchers and professionals curates insights from credible sources. Using methodologies like SWOT and PESTEL analysis, as well as regression analysis, they provide accurate growth forecasts. The report delves into industry regulations, research technology, innovation, and future advancements in Advanced Space Composites.
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
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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
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
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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
Meta Title: Advanced Space Composites Market Size, Share, Insight and Forecast 2022 to 2032
Meta Description: Global Advanced Space Composites Market is projected to reach US$ 2.75 billion by the end of 2030, at a CAGR of 9.55%
Meta Keywords: advanced space composites market Size, advanced space composites market share, advanced space composites market trend, advanced space composites market Forecast, advanced space composites market insights
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