Aerospace Composites Market Share

The North America aerospace composites market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037 on the account of rising demand for aerospace and defense companies. It is also fueled by the existence of several R&D facilities that are devoted to creating novel and cutting-edge composite materials and production processes. This supports the growth of the regional market. Moreover, given that the United States is one of the world's leading militaries, a sizable number of military aircraft producers and suppliers likewise populate the North American market. Owing to this, composites are in high demand for use in military aircraft, and this is projected to rise the growth of the market in the region. As per the estimates, the North America has the biggest jet fleet in the globe as of 2019 with over 15,500 registered aircraft. The U.S. comprises over 90% of the world’s jet production.