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The Indian Aerospace Composites Market is likely to witness an impressive CAGR of 6.7% during the forecast period. The prime factor that is contributing to the demand for Indian Aerospace Composites is the increasing demand for Indian Aerospace Composites in various industries.
This report on the Indian Aerospace Composites Market has been put together covering various companies of the industry from different geographies. The study is a perfect blend of qualitative and quantitative research highlighting vital market developments, challenges and competition that the industry might face, along with opportunities and trends available in the Indian Aerospace Composites Market. The report intends to present a thorough analysis of the Indian Aerospace Composites Market and provide cutting-edge market intelligence to help decision makers undertake a sound investment evaluation. Besides, the report also classifies and analyses the emerging trends along with major growth drivers.
Indian Aerospace Composites Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges act as extrinsic factors affecting the market. The report aims at answering several key questions concerning the overall profitability in the market.
Few key players operating in the Indian Aerospace Composites Market are-
Tata Group,
Hindustan Aeronautics Ltd. (HAL),
Kineco Kaman Composites - India Private Ltd.,
Valeth High Tech Composites Pvt Ltd,
Taneja Aerospace and Aviation Limited,
Adani Defense and Aerospace Group.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Indian Aerospace Composites Market value and growth drivers over the trend period of 2018-23. According to the report -
The next five years for the Indian aerospace composites market are going to be extremely vigorous with significant growth opportunities in both indigenous as well as export market. It is estimated that the market for aerospace composites in India including export potential is likely to reach a value of US$ 302.5 million in 2023. Currently, the market is relatively very small with the presence of a few local players, which possess good composite capabilities. However, it is expected that the Indian market is likely to evolve rapidly in terms of both demand as well as technology in order to cater to the huge indigenous demand for commercial as well as military aircraft.
Segment Analysis:
Based on Aircraft Type:
The Indian aerospace composites market is segmented based on the aircraft type as civil aviation, military aviation, and spacecraft. Civil aviation and military aviation are likely to remain the growth engines of the market in the foreseeable future. Majority of the demand for composite parts for the commercial aviation segment is mainly coming from the global market, whereas there is an impressive indigenous demand for composite parts in the military aviation segment.
Based on Fiber Type:
Based on the fiber type, the market is segmented into carbon fiber composites, glass fiber composites, and aramid fiber composites. Carbon fiber composites are likely to remain the most dominant and fastest-growing fiber type segment of the market during the forecast period. Lightweight coupled with high-performance benefits over rivalry materials has led to a massive adoption of carbon fiber composites in the aerospace industry.
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