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. This is a market study made by Lucintel .
(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. Currently, aluminum is the predominant material used in the aerospace industry, aerospace companies are showing increased interest in composite materials to develop a more fuel-efficient and corrosive-resistant aircraft.
Looking a the history of materials , 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.
Based on this comprehensive Lucintel research study, composite materials in the aerospace market to see strong growth during forecast period. According to Dr.Sanjay Mzumdar, CEO of Lucintel, the Boeing 787 and the Airbus 380 will drive the growth for composite materials over the forecast period. "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.