Aerospace Plastics Market Analysis By The Business Research Company

The Business Research Company's Aerospace Plastics industry report expands on key drivers, trends, and growth opportunities in the market.

LONDON, June 30, 2022 /PRNewswire/ -- The aerospace plastics market consists of sales of aerospace plastics by entities (organizations, sole traders, partnerships) that provide durability, chemical, and fire resistance required for aircraft parts and interiors. Aerospace plastics are long-lasting and require less maintenance than other materials. These are lightweight, provide the same strength as metals, do not rust, and are easy to fabricate.

The global aerospace plastics market size is expected to grow from $0.67 billion in 2021 to $0.71 billion in 2022 at a compound annual growth rate (CAGR) of 4.7%. The global aerospace plastics market forecast sees it reaching $0.87 billion in 2026 at a CAGR of 5.4%.

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Aerospace Plastics Market Growth

The increasing fleet size of commercial aircraft is significantly contributing to the growth of the aerospace plastics market. The aircraft fleet is known as the number of airplanes operated by the respective airline. Increasing fleet size requires new aircraft parts to be installed and the replacement of the old parts, thereby promoting the growth of aerospace plastics used in the manufacturing of aircraft parts. For instance, according to Boeing, a US-based aerospace company's commercial market outlook for 2021–2040, the global commercial fleet will exceed 49,000 airplanes by 2040. Therefore, the increasing fleet size of commercial aircraft is driving the aerospace plastics market.

Aerospace Plastics Market Regional Analysis

North America accounts for the largest aerospace plastics market share. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global aerospace plastic 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 Frame, Components, Cabin Interiors, Wings and Rotor Blades, Others

3) By End-Use: Commercial Aircrafts, Military Aircrafts, Rotary Aircrafts, General Aviation

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