Aerospace Composites Market Size

Aerospace Composites Market size was valued at USD 31.39 billion in 2024 and is likely to cross USD 138.68 billion by the end of 2037, registering more than 12.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of aerospace composites is estimated at USD 34.43 billion. Increasing aerospace and defense sectors across the world are expected to boost market growth during the forecast period. The aerospace sector is expanding as a result of the rising demand for modern, cutting-edge aircraft, in addition to the necessity of replacing outdated aircraft. Owing to their widespread application in airplane construction, interiors, and propulsion systems, composite materials are in high demand. Composite materials are also widely used in the defense industry, notably in aircraft and missile systems, and it is predicted to surge the market’s growth. As per the U.S International Trade Administration, the U.S. aerospace industry stood as the second-largest exporter with a 5.3% growth rate in the past decade.

The reducing cost of carbon fibers, one of the composite materials used in aerospace is estimated to boost the aerospace carbon fiber composites market growth on account of reducing raw material prices such as rayon and pitch. Also, technological advancements and low energy costs are other factors influencing the aerospace composites market growth.