Aerospace Plastics Market Size Worth $577.3 Million By 2028 | CAGR: 5.1%

Aerospace Plastics Market Size Worth $577.3 Million By 2028 | CAGR: 5.1%

The global aerospace plastics market size is expected to reach USD 577.3 million by 2028 according to a new study by Polaris Market Research. The report “Aerospace Plastics Market Share, Size, Trends, Industry Analysis Report, By Aircraft Type (Military, Commercial, General, Rotary); By Polymer Type; By Application; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Companies operating in the aerospace industry are increasingly turning towards plastics for higher performance, greater fuel efficiency, and cost-effectiveness. The polymers are used in various applications such as cabin interiors, ventilation ducts and seals, writings and bearings, and fuselages, among others.

The polymers offer high specific strength, chemical resistance, higher freedom in component design, and flame resistance, thereby enhancing aircraft design and reducing energy consumptions. The COVID-19 outbreak has impaired the growth of this market. Air travel has been suspended in different parts of the world, forcing market players to halt new purchases and repairs.

During the pandemic, disruption in the supply chain, closure of manufacturing facilities, and stringent government regulations have reduced the demand for polymers. Different operational challenges have risen due to the pandemic, with workforce impairment further adding to the predicament of the market players.

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Aerospace plastics are used in manufacturing aerostructure due to their corrosion and thermal resistance, low moisture absorption, high weathering, and UV stability. Factors such as growth in the aerospace industry, increasing air travel, and the modernization of aircraft boost the growth of the plastics industry.

The emerging countries such as China, Japan, South Korea, and India are expected to experience growth in air traffic, thereby supplementing the growth of this industry. The high growth rate can also be attributed to growth in the aviation industry, privatization of airline operators, and increasing government investment initiatives.

Industry players collaborate for research and development, strengthening the industry presence and technological innovation. The greater need to cater to growing customer requirements has encouraged industry participants to leverage new technologies for the development of high-quality products.

Polaris Market research has segmented the Aerospace plastics market report on the basis of polymer type, aircraft type, application, and region:

Aerospace Plastics, Polymer Type Outlook (Revenue, USD Million, 2016 - 2028)

  • Polycarbonate
  • Acrylonitrile Butadiene Styrene (ABS)
  • Polyphenylene sulfide (PPS)
  • PEEK
  • Polymethyl Methacrylate (PMMA)
  • PTFE
  • Polyimide (PI)
  • Polyamide Imide (PAI)
  • Others

Aerospace Plastics, Aircraft Type Outlook (Revenue, USD Million, 2016 - 2028)

  • Military Aircraft
  • Commercial Aircraft
  • General Aircraft
  • Rotary Aircraft
  • Others

Aerospace Plastics, Application Outlook (Revenue, USD Million, 2016 - 2028)

  • Aerostructure
  • Components
  • Equipment, Systems & Support
  • Cabin Interiors
  • Propulsion Systems
  • Satellites
  • Construction and Insulation Components

Aerospace Plastics, Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Netherlands
    • Austria
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Israel
    • UAE