Global aerospace composite market to grow at CAGR of 6.3% uptil 2019

07-May-15

The global aerospace composite market to grow at a CAGR of 6.34% during the period 2014-2019. Fiber reinforced polymers that are primarily used in the Aerospace industry comprise carbon fibers, glass fibers, and aramid fibers. Composites are used for structures and components that need to be lightweight while possessing superior strength. Composites have found a wide range of applications in commercial aircraft, rotorcraft, UAVs, and military aircraft. They are largely used in the fuselage of aircraft, tails, wings, aircraft interiors, aircraft seats, and jet engine components. The market for commercial air transport has been growing rapidly. Jet engines utilized for such commercial aircraft account for a huge market value. More importance has been given to fuel efficiency, weight reduction and increased performance efficiency of jet engines. It has provided a growing market opportunity for composites in the aircraft jet engines segment. According to the report, with the commercialization of 3D displays, the global 3D display market has been witnessing an increase in 3D video content worldwide. Although the market is still in its nascent stage, the penetration of 3D technology has been on the rise as 3D display panels are being used in mobile handsets, tablet PCs, and in billboards for advertisements.