Composite Repairs Market to experience an impressive growth of 7.2% during 2017-2022
February 05, 2020
Composite Repairs Market is projected to witness an impressive CAGR of 7.2% over the next five years, driven by increasing production of composites rich commercial and regional aircraft, such as B787 and A350XWB; increasing maintenance, repair, & overhaul (MRO) services; increasing focus on the infrastructure projects, especially in developing countries; an advancement in materials and repair automation; development of new composite applications in different industries; and rising stringent quality, environmental and safety norms.
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Composite Repairs Market Segment Insights:
By Part Type:
Composite repairs market is segmented based on part type as structural, semi-structural, and non-structural components. Composite repairs for structural components is estimated to remain the largest part type during the forecast period. This segment is also projected to witness the highest growth in the same period, driven by increasing use of advanced composites in structural applications in the aerospace & defense and automotive industries.
By Manufacturing Process Type:
Composite repairs market is further segmented based on manufacturing process type as hand lay-up, vacuum infusion, prepreg lay-up, and others. Prepreg lay-up process is widely preferred for composite part repairs in most of the industries, such as aerospace & defense, automotive, and building & construction. The process type is projected to remain the fastest growing process during the forecast period. Increasing penetration of composites in different industries is driving the demand for improved manufacturing process for both part fabrication and repairs.
By End-Use Industry Type:
Composite repairs market is segmented based on end-use industry as aerospace & defense, wind energy, transportation, building & construction, and others. Aerospace & defense is estimated to be the fastest growing end-use segment in the composite repairs market during the forecast period. Increasing penetration of composites in next generation aircraft, such as B787 and A350XWB, is creating a substantial demand for composite repairs. Various standards have been set regarding composite repairs by Commercial Aircraft Composite Repair Committee (CACRC), USA, to ensure quality and safety by the airlines. Wind energy, transportation, marine, and building & construction are also expected to register a healthy growth in the composite repairs market over the next five years.
By Region:
North America is projected to remain the largest market for composite repairs during the forecast period of 2017 to 2022. The region is the largest composites market worldwide with the presence of several large to small composites part fabricators for almost all major end-use industries, such as aerospace & defense, automotive, and marine. Asia-Pacific is the fastest growing composite repairs market, propelled by increasing wind energy installations, upcoming indigenous commercial and regional aircraft, such as COMAC C919, ARJ21, and Mitsubishi MRJ, high automobile production, and growing building & construction market. China and India are likely to remain the growth engines of the composites market in the Asia-Pacific region and so is the composite repairs market.
Key Players:
Lufthansa Technik AG; Air France Industries KLM Engineering & Maintenance; Guangzhou Aircraft Maintenance Engineering Co.; GA Telesis Composite Repair Group, LLC; Furmanite; EDF Renewable Energy; and Broadwind Energy are some of the major composite repair players in the market. New product development and collaboration with customers are some of the key strategies adopted by companies to gain a competitive edge in the market.
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