Aerospace Industry to Consume $57 Billion Worth of Composite Materials Between 2007-2026
Posted on: Thursday, 9 August 2007, 09:02 CDT
DALLAS, Aug. 9 /PRNewswire/ -- On an annual basis, the aerospace industry consumes an estimated 700 million lbs. of raw materials including aluminum, composites, glare, steel, titanium and other materials, according to a new Lucintel market study, "Opportunities for Composites in the Global Aerospace Industry 2007-2026". This study also reveals that while composite materials currently represent a relatively small segment of the aerospace industry, enormous potential exists for composite materials to become a more integral component within the industry in the future. Although aluminum is currently the predominant material used in the aerospace industry, aerospace companies are showing increased interest in composite materials because of a desire for more fuel-efficient and corrosive-resistant aircraft,
Historically, the use of composites over the last 30 years has evolved from less than 5% in the Boeing 737 and 747 to over 17% in the Airbus A320. The Airbus A320 which was launched in 1990, uses approximately 17% composite materials and 66% aluminum. The Boeing 787 Dreamliner, which is scheduled to be delivered in 2008, will use about 50% composites by structural weight, and will be 20% more fuel efficient than similar-sized planes, due, in part, to advancements in composite materials technology. The Airbus A380 is expected to use 23% composites per aircraft.
Base on this comprehensive Lucintel research study, composite materials in the aerospace market to see strong growth during forecast period. "The defense industry as well as the Boeing 787 and the Airbus 380 will drive the growth for composite materials over the forecast period," said Dr. Sanjay Mazumdar, Lucintel' CEO. "Remarkably, the global aerospace industry is estimated to use $57 billion worth of composite materials during 2007 - 2026."
More detailed information on the opportunities for composites in the aerospace market is published in this market report titled, "Opportunities for Composites in the Global Aerospace industry 2007-2026". This market report is published by Lucintel, a leading global market research company and business consulting firm with over 600 clients worldwide. For more information on this study, contact David Kaiser by e-mail at david.kaiser@lucintel.com or call at Tel.: 972-636-5056 or visit http://www.lucintel.com/marketaero2007.asp.
Lucintel
CONTACT: David Kaiser of Lucintel, +1-972-636-5056,david.kaiser@lucintel.com
Web site: http://www.e-composites.com/http://www.lucintel.com/marketaero2007.asp
Source: PRNewswire
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