New York City, NY, 14 April, 2020/ 24 Market Reports: It is estimated for the global composite repairs market to reach USD 21.91 Billion by 2026, witnessing the growth at a CAGR of 8.2% during the forecast period 2016 and 2026. Increasing composite contents in new generation commercial aircraft such as Boeing 787 Dreamliner and Airbus A350 and significant addition to wind energy capacity in the past 10–15 years in countries such as China, the U.S., India, Germany, and Spain are the factors that are driving the growth of the market during the forecast period.
Aerospace & defence segment accounted for the largest share of the composite repairs market during the forecast period
On damaged parts of aircraft, wind blades, automotive panels, hull & deck of the boat, panels used in buildings, bridges, and leakage in pipe & tanks the composite repairs are been carried out. The aerospace & defence segment accounted for the largest share of the composite repairs market during the forecast period based on end-use industry.
Autoclave segment, by the process, is projected to grow at the highest CAGR during the forecast period
In industries such as wind energy, construction, marine, transportation, and pipe & tank, as it is cost-effective the hand lay-up process is majorly used during composite repairs among the three key repair processes. The autoclave segment, by the process, is projected to grow at the highest CAGR during the forecast period. The increasing application in commercial aircraft and passenger cars due to high performance and surface finish requirements is driving the growth of the segment in the market.
Asia Pacific region is estimated to grow at the highest rate in the market during the forecast period
The growth of the market is driven by the increasing use of composite repairs in the aerospace & defence and wind energy industries. Asia Pacific region is estimated to grow at the highest rate in the market during the forecast period. Growing maintenance, repair, and overhaul (MRO), as well as increasing composite repair activity in China, Japan, India, and South-East Asian countries, are driving the growth of the market in the region during the forecast period. Upcoming wind turbine installations in India and South-East Asian countries are expected to fuel the composite repairs market during the long-term forecast period.
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