Dublin, Nov. 17, 2021 (GLOBE NEWSWIRE) -- The "Advanced Space Composites Market - A Global and Regional Analysis: Focus on Platform, Component, Material, Manufacturing Process, Services, and Country - Analysis and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global advanced space composites market was valued at $845.7 million in 2020 and is projected to reach $2,881.9 million by 2031 at a CAGR of 11.94%.
The major driving factors for the huge revenues generated by the companies are the growing satellite launches and deep space activities, along with the rising usage of commercial off-the-shelf components.
Advanced composites offer cost-effectiveness, high strength to weight ratio, multifunctionality, and various properties in terms of thermal insulation and ablation. High modulus carbon fiber reinforced laminates are one of the majorly used composites for many composite spacecraft applications. In human crew capsules, composite panels are used to provide the thermal protection system (TPS) required for vehicle re-entry.
The temperature capability and low thermal expansion offer additional benefits by reducing the amount of TPS material required, which reduces the weight of the vehicle. Carbon fiber laminates are widely used on satellites and payload support structures. For instance, satellite bus structures are made using aluminum honeycomb sandwich panels with either carbon fiber or aluminum face sheets.
Also, high-modulus, high-thermal conductivity carbon fiber laminates with low moisture absorption resins, typically cyanate ester, are always used for manufacturing optical benches and other spacecraft structures, which must sustain dimensional stability for accuracy. These advanced composites help in maintaining extreme dimensional stability over extreme temperature when the spacecraft is in space.
Apart from this, RF reflectors and solar array substrates also use high-modulus carbon fiber laminates in order to achieve stiffness and dimensional stability.
Global Advanced Space Composites Market by Components
The commercial end users are continuously working on developing efficient and cost-effective satellites as well as developing reusable launch vehicles.
The structure component segment is expected to dominate the market during the forecast period 2021-2031. The factor contributing to this growth is the increased focus of the space companies to develop reusable launch vehicles and small launch vehicles (SLVs).
Global Advanced Space Composites Market by Region
North America is expected to dominate the global advanced space composites market during the forecast period. The factor attributing to the growth of this region is the presence of the key companies highly engaged in developing and providing advanced materials for space applications.
Additionally, the continuous technology advancement by key players in the satellite industry is another factor contributing to the growth of the market. Apart from this, the region's companies are in long-term relationships with space agencies and are engaged in programs that will propel the space sector.
Key Questions Answered in the Report
What are the underlying structures resulting in the emerging trends within the global advanced space composites market?
What is the scope for new original equipment manufacturers (OEMs) and other players to enter the advanced space composites market?
What are the driving and challenging factors attributing to the growth of the advanced space composites market?
Which application and end user are expected to be leading the advanced space composites market by 2031?
What was the market value of the regions in the advanced space composites market in 2020, and how is the market estimated to grow during the forecast period 2021-2031?
What are the R&D initiatives and investment scenarios in the advanced space composites market?
How is the advanced space composites industry expected to evolve during the forecast period 2021-2031?
What are the key development strategies implemented by the key players to sustain the competitive market?
Key Companies Profiled
ACPT Inc. (Advanced Composite Products and Technology)
Infinite Composites Technologies
Matrix Composites (an ITT Company)
Stelia Aerospace North America Inc.
Toray Advanced Composites
Lockheed Martin Corporation
Launch Vehicle Companies:
Firefly Aerospace Inc.
ROCKET LAB USA
Space Exploration Technologies Corp. (SpaceX)
Global Advanced Space Composites Market: Overview
Futuristic Trends on Space Composites
Reusable Launch Vehicles (RLVs)
Investment and Startup Scenario
Leading Companies and Certifications
NASA's Design and Manufacturing Guideline for Aerospace Composites
Key Composite Suppliers and Platforms
Supply Chain Analysis
Growing Satellite Launches and Deep Space Activities
Rising Usage of Commercial Off-The-Shelf (COTS) Component
High Cost Associated with Development and Designing of Space Components
Contracts, Agreements, Partnerships, Collaborations, and Acquisitions
Advancement in 3D Printing Technology for Space Industry
Adoption of New Material to Manufacture Space Electronics
Global Advanced Space Composites Market (by Platform)
Small Satellite (0-1,200 kg)
Medium Satellite (1,201-2,200 kg)
Large Satellite (Above 2,201 kg)
Deep Space Probes and Rovers
Global Advanced Space Composites Market (by Component)
Solar Array Panels
Global Advanced Space Composites Market (by Material)
Ceramic Matrix Composites (CMC) and Metal Matrix Composites (MMC)
Analysis of Advanced Space Composites Market (by Manufacturing Process)
Automated Fiber Placement (ATL/AFP)
Global Analysis of Advanced Space Composites Market (by Service)
Repair and Maintenance
Design and Modeling
For more information about this report visit https://www.researchandmarkets.com/r/1nc4en
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