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Global Advanced Space Composites Market Expanding Rapidly, Revolutionizing Aerospace Industry - ResearchAndMarkets.com

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DUBLIN--(BUSINESS WIRE)--The "Advanced Space Composites Market - A Global and Regional Analysis: Focus on Platform, Component, Material, Manufacturing Process, Services, and Country - 2021-2031" report has been added to ResearchAndMarkets.com's offering.

Composites, engineered materials combining distinct elements for superior mechanical and thermal properties, have gained significant importance for their role in revolutionizing space exploration and satellite technologies. These materials offer opportunities for enhancing efficiency and capabilities in spaceborne systems.

The advanced space composites market has various segments with unique applications. Satellite structures and components benefit from composites, allowing the construction of lightweight yet robust frameworks capable of withstanding the challenges of launch, vacuum conditions, and extreme temperatures. Composite materials also play a pivotal role in rocket structures, contributing to weight reduction, improved fuel efficiency, and overall performance.

Additionally, advanced propulsion systems leverage composites to create lightweight, high-performance components. These materials enable space habitat construction and interplanetary exploration by providing protection against radiation, micrometeoroid impacts, and temperature fluctuations while allowing for modular construction and adaptability to different planetary environments.

The advanced space composites market is driving transformative changes in space technologies, offering materials and fabrication techniques that challenge traditional aerospace paradigms. As humanity ventures further into the cosmos, the integration of advanced composites is poised to redefine the limits of space exploration, satellite deployment, and ambitious interplanetary endeavors.

Market Segmentation Highlights:

  1. Platform Segment: The launch vehicles segment is dominating the market, accounting for 40.25% in 2023. However, the satellite segment is expected to grow at the highest CAGR of 12.24% during the forecast period 2023-2033 due to the rise in satellite launches and expected small satellite mega constellations.

  2. Component Segment: Structures are expected to dominate the market during the forecast period (2023-2033) as companies focus on developing reusable launch vehicles and small launch vehicles.

  3. Material Segment: Carbon fiber leads the market with a 31.1% share in 2023. Carbon fiber composites have been used extensively in space applications, including launch vehicles, satellites, and deep space probes.

  4. Manufacturing Process Segment: Automated Fiber Placement (ATL/AFP) and additive manufacturing are key processes contributing to the growth of the advanced space composites market.

  5. Service Segment: Repair and maintenance, manufacturing, and design and modeling services play essential roles in the advanced space composites market.

  6. Region Segment: Europe is the highest-growing market among all regions, registering a CAGR of 13.09%. European countries have a strong presence in space research and development.

Recent Developments:

  • Orbital Composites secured a $1.7 million contract from the U.S. Space Force for in-orbit manufacturing of satellite antennas.
  • Beyond Gravity won a contract from the European Space Agency (ESA) to develop the payload fairing for the Ariane 6 launch vehicle.
  • MT Aerospace AG received a $33.5 million contract from ESA for developing demonstrator systems made of carbon fiber-reinforced polymer (CFRP) for the PHOEBUS project.
  • Beyond Gravity received a contract to supply 38 payload fairings for ULA's Vulcan rockets, part of Amazon's Project Kuiper.
  • Beyond Gravity and Amazon partnered to develop customized composite satellite dispenser systems for Project Kuiper, aiming to establish a low Earth orbit (LEO) constellation.

Market Demand Drivers:

  • Growing satellite launches and deep space activities are driving the demand for advanced space composites.
  • Reusable launch systems, on-orbit manufacturing technologies, and upcoming space stations and habitats are further contributing to the use of advanced composites in space applications.
  • Advancements in additive manufacturing of composites offer opportunities for creating complex structures with precision and efficiency.

Market Challenges:

  • High production costs associated with space composites due to complex manufacturing processes and stringent quality control requirements.
  • Space composites often require specialized manufacturing techniques, contributing to elevated production costs.

Market Opportunities:

  • Advancements in additive manufacturing enable the fabrication of complex and specialized structures for space applications, offering new design possibilities.
  • The use of composites in in-space transportation systems and the emergence of satellite mega constellations provide growth opportunities for the advanced space composites market.

How This Report Adds Value:

  • The report provides insights into global advanced space composites market dynamics, drivers, challenges, and opportunities.
  • It offers detailed market segmentation, competitive benchmarking, and company profiles of key players.
  • The report highlights growth opportunities and recommendations for advanced space composites manufacturers.

Key Market Players:

Key players in the advanced space composites market include Toray Advanced Composites, Beyond Gravity, Hexcel Corporation, Airborne, and MT Aerospace AG. Small-scale players and startups, such as Orbital Composites, ST Advanced Composites Pvt Ltd., Scorpius Space Launch Company (SSLC), and Infinite Composite Technologies, also contribute to the market.

For more information about this report visit https://www.researchandmarkets.com/r/1h537v

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First published on Fri, Nov 3, 2023

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ResearchAndMarkets Advanced Space Composites Satellite Technologies Advanced Propulsion Systems

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