Home Aerospace And Defense Advanced Space Composites Market Share by segments, Region till 2031

Advanced Space Composites Market

Advanced Space Composites Market Size, Share & Trends Analysis Report By Platform (Satellite, Launch Vehicles, Deep Space Probes and Rovers), By Component (Payloads, Structures, Antenna, Solar Array Panels, Propellent Tank, Spacecraft Module, Sunshade Door, Thrusters, Thermal Protection, Others), By Material (Fiber, Resin, Nanomaterials, Ceramic Matrix Composites (CMC) and Metal Matrix Composites (MMC)), By Manufacturing Process (Automated Fiber Placement, Compression Molding, Additive Manufacturing, Others), By Service (Repair and Maintenance, Manufacturing, Design and Modeling) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Report Code: SRAD54167DR
Study Period 2019-2031 CAGR 11.94%
Historical Period 2019-2021 Forecast Period 2023-2031
Base Year 2022 Base Year Market Size USD 1,045.31 Million
Forecast Year 2031 Forecast Year Market Size USD 2884.93 Million
Largest Market North America Fastest Growing Market Europe
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Market Overview

The global advanced space composites market revenue was valued at USD 1,045.31 million in 2022. It is estimated to reach USD 2,884.93 million by 2031, growing at a CAGR of 11.94% during the forecast period (2023–2031). 3D printing transforms the SLV industry, cutting production time and costs. It uses lightweight materials ideal for space launches, creating durable rocket parts. Orbex and Relativity Space launched 3D-printed SLVs, while CATEC integrates AI for efficient thrust chambers. Continuous 3D printing advancements offer lucrative growth opportunities.

Composites have been used in space applications for many years, and their use only expands. Applications for composite materials can be observed on launch vehicles, satellites, payloads, and human spaceflight vehicles. Composites are successful and helpful when a spacecraft's mission demands minimal weight and environmental stability. Advanced composites are also used in launch vehicles for a variety of purposes. For example, sophisticated composites like carbon fiber reinforced composite are typically used to support solid rocket motors and pressure tanks for fuel and gas storage. Composites are now necessary for ablative and high-temperature components like rocket motor nozzles and re-entry heat shields.

Advanced composites offer a variety of qualities in thermal insulation and ablation, as well as cost-effectiveness, ease of processing, high strength-to-weight ratio, and multi-functionality. Several composite spaceship applications primarily use high-modulus carbon fiber-reinforced laminates. Composite panels offer the thermal protection system (TPS) necessary for vehicle re-entry in human crew capsules. The temperature capacity and low thermal expansion provide additional benefits by lowering the quantity of TPS material used and decreasing the vehicle's weight.

Market Dynamics

Market Drivers

Growing Satellite Launches and Deep Space Activities

Numerous countries have been launching small satellite constellations and deep space missions for applications such as real-time Earth observation, navigation, tracking and monitoring, and global internet coverage. There is an extensive demand for satellite constellations in the market owing to the increasing need for faster, reliable, and efficient real-time tracking and monitoring systems for cargo, ships, etc., and Earth observation (EO).

As per the Union of Concerned Scientists (UCS), more than 1,100 satellites were launched in 2020. These small satellites were launched for commercial, government, and military applications. In addition, large satellites may be gradually replaced with a cluster of small satellites in a single orbital location. These small satellites are also paving the way for low-cost deep space exploration. Similarly, small satellites can be customized through artificial intelligence (AI) for remote sensing and deep space exploration missions. This is expected to enhance the global global market during the forecast period.

Rising Usage of Commercial Off-The-Shelf (COTS) Component

COTS components offer high performance, power, and reliability and are cheaper than QML-certified radiation-hardened components. COTS components can quickly fulfill the demands of satellites for low costs and fast services. In addition, COTS components can be easily modified as per the requirement at an affordable rate. Modified COTS (MCOTS) components have a simple manufacturing process and can be quickly delivered using various technologies and techniques.

Additionally, due to the low cost and quick manufacturing options, COTS or MCOTS components have no flight heritage information, no radiation support, no traceability, and no homogeneity, resulting in a high cost of ownership in case of problems. The use of COTS components provides radiation shielding without compromising the quality. They reduce the cost and development time of the space-based components and have a higher cost of ownership. Moreover, COTS components are extensively used in space industries and show scope and opportunity to be used in other sectors, thereby driving market growth.

Market Restraint

High Cost Associated with the Development and Designing of Space Components

The space industry is expensive, as numerous factors must be considered while developing a product. The resources and raw materials required to create space-based smart sensors and electronics components are much more expensive as they must be solid and reliable. Hence, the companies would require massive funding for research and development activities to develop highly efficient components.

Radiation-hardened electronics components, which are mainly used, are manufactured to be radiation resistant to operate in harsh environments. In addition, the manufacturing and development of reliable and robust radiation-hardened electronic components are expensive due to the immense cost of testing and developing composite materials. Some other techniques include shielded packaging of electronic parts, but this technique is costly and heavy, significantly impacting the cost for end users of space electronics manufacturers. Such factors are estimated to hinder the market's growth.

Market Opportunities

Advancement in 3D Printing Technology for the Space Industry

3D printing or additive manufacturing is revolutionizing the SLV industry by reducing the production time and cost of the vehicle. 3D printing technology uses lighter materials like thermoplastic, composites, and metal alloys. It also has high corrosive and wear strength, making it suitable for its effective incorporation in the space launch industry. In addition, 3D printing helps develop robust and high-performing rocket parts, which offer improvements over traditional manufacturing methods. Companies are also developing and adopting rocket engines based on 3D printing technology.

For instance, in February 2019, Orbex, a U.K.-based startup, introduced the world's largest 3D-printed SLV produced on the SLM800 system. Similarly, Relativity Space, a U.S.-based startup, manufactured a launch vehicle with 3D printing in 2020. Advanced Center for Aerospace Technology (CATEC), a working arm of the Andalusian Foundation for Aerospace Development (FADA), is also expected to add artificial intelligence and neural networks to manufacture more efficient thrust chambers. Therefore, continuous developments in 3D printing technology for space components are expected to act as a lucrative opportunity for the market during the forecast period.

Regional Analysis

Based on region, the global advanced space composites market is bifurcated into North America, Europe, Asia-Pacific, and Rest-of-the-World.

North America's advanced space composites industry share is expected to grow at a CAGR of 11.46% over the forecast period. One of the major factors for the substantial growth in the market in the region is the growing satellite constellations that will be launched in the next 10-15 years. The presence of major advanced composite providers such as Lockheed Martin, Northrop Grumman, Toray Advanced Composites, and Hexcel Corporation within the region and space exploration programs by government and military players are also creating market opportunities. Additionally, the National Aeronautics and Space Administration (NASA) and other space companies have been using advanced composites on satellite systems and space launch vehicle structures. In July 2021, NASA's Langley Research Center, in partnership with NASA Ames Research Center, NanoAvionics, and Santa Clara University's Robotics Systems Lab, developed a deployable lightweight composite boom and solar sail system for the Advanced Composite Solar Sail System (ACS3) mission. This will be the first-time composite booms are used for a solar sail in orbit. Such factors are anticipated to boost market growth in the region.

Europe is anticipated to exhibit a CAGR of 12.92% over the forecast period. The European region's space sector is highly driven by the presence of one of the leading national space agencies, the European Space Agency (ESA), and the European Commission, apart from the commercial space companies operating in this region. The European Space Agency (ESA) introduced the SpaceCarbon project under the Horizon 2020 Programme. This project aims to develop European-based carbon fibers (CF) and pre-impregnated materials for launchers and satellite applications. This will enable a European supply chain that can reduce the dependency of the European Space sector on this critical Space technology, hence reducing the risk of stopping future space programs due to supply restrictions and shortage of these materials from non-European sources, thereby driving the market growth.

The space sector in Asia-Pacific is significantly growing as the region's major economies have been gradually accelerating toward a strong growth pattern, along with economic booms in Asia-Pacific countries such as Australia, Singapore, Indonesia, Malaysia, and Thailand. Countries in this region are increasingly producing small satellite constellations, which will enable satellite-based services. The region also has a committed forum, the Asia-Pacific Regional Space Agency Forum (APRSAF), which was established in 1993 to increase space activities in the Asia-Pacific region. Other Asia-Pacific countries such as Australia, Singapore, and Vietnam are developing and enhancing their space capabilities, from building launch vehicles to satellite manufacturing. However, the countries in the APAC region only have a small number of satellites in space, except for China. Therefore, the market share of the region at the global level could be higher, which has hindered the growth of the market.

Rest-of-the-World includes countries such as Brazil and the U.A.E. The space industry in Rest-of-the-World countries has yet to fully develop compared to powerful nations such as the U.S. and the U.K. Hence, the demand for advanced composites may be low compared to other regions. However, these countries are focusing on technological advancements to build a fleet of satellites enabling Earth observation, technological developments, and communication-based applications, driving market growth.

Report Scope

Report Metric Details
By Platform
  1. Satellite
  2. Launch Vehicles
  3. Deep Space Probes and Rovers
By Component
  1. Payloads
  2. Structures
  3. Antenna
  4. Solar Array Panels
  5. Propellent Tank
  6. Spacecraft Module
  7. Sunshade Door
  8. Thrusters
  9. Thermal Protection
  10. Others
By Material
  1. Fiber
  2. Resin
  3. Nanomaterials
  4. Ceramic Matrix Composites (CMC) and Metal Matrix Composites (MMC)
By Manufacturing Process
  1. Automated Fiber Placement
  2. Compression Molding
  3. Additive Manufacturing
  4. Others
By Service
  1. Repair and Maintenance
  2. Manufacturing
  3. Design and Modeling
Company Profiles RUAG Group Toray Advanced Composites Hexcel Corporation Airbus S.A.S Boeing GomSpaceA/S HyPerComp Engineering Infinite Composites Technologies Matrix Composites Applied Composites Airborne CST Composites Peak Technology ACPT Inc. AdamWorks, LLC.
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The global market is bifurcated into the platform, components, materials, manufacturing processes, and services.

Based on the platform, the global market is divided into satellites, launch vehicles, and deep space probes and rovers. 

The satellite segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 12.76% over the forecast period. Satellites are usually used for communication, navigation, and tracking and are primarily placed in the Earth's orbit. There is an extensive demand for LEO-based satellite constellations in the market owing to the increasing need for faster, reliable, and efficient real-time tracking and monitoring, real-time Earth observation (EO), navigation, communication, and technology demonstration. This growing LEO-based satellite mega constellation is one of the significant factors that may contribute to the demand for advanced composites. The satellite segment is further sub-segmented into small satellites (0-1,200kg), medium satellites (1,201-2,200kg), and large satellites (above 2,200kg).

Based on components, the global market is bifurcated into payloads, structures, antennae, solar array panels, propellent tanks, spacecraft modules, sunshade doors, thrusters, thermal protection, and others. 

The structures segment dominates the global market and is projected to grow at a CAGR of 14.12% over the forecast period. Space structures or frames for satellites and launch vehicles comprise several advanced composites. For instance, aluminum matrix composites are used for satellite structures, and aluminum-carbon-reinforced plastic laminates are used in the satellite structure assembly. These offer a 33% weight reduction in the satellite structure assembly compared to their metallic counterparts. In launch vehicle structure, some companies use carbon-silicon carbide composites in disc brakes, jet vanes of nozzles, engine flaps, and nose caps of launch vehicles.

Based on materials, the global market is bifurcated into fiber, resin, nanomaterials, ceramic matrix composites (CMC) and metal matrix composites (MMC), and others. 

The fiber segment owns the highest market share and is predicted to grow at a CAGR of 11.60% over the forecast period. In terms of fiber types, the global market has been categorized into carbon fiber and glass fiber. These fibers are used in space applications such as satellites and launch vehicles. For instance, in 2019, as part of the European Space Agency's (ESA) Clean Space initiative, a magnetotorquer was designed to interact magnetically with Earth's magnetic field to shift satellite orientation. It was kept in a plasma wind tunnel at the German Aerospace Center's (DLR) facility, then reproduced re-entry conditions, melting it into vapor. This magnetotorquer was made of an external carbon fiber reinforced polymer composite with copper coils and an internal iron-cobalt core.

Based on manufacturing processes, the global market is divided into automated fiber placement (ATL/AFP), compression molding, additive manufacturing, and others. 

The compression molding segment is the highest contributor to the market share and is anticipated to exhibit a CAGR of 11.8% during the forecast period. Compression molding is the process of molding wherein a preheated polymer is positioned into an open, heated mold cavity. The mold is then closed with a top plug and compressed to have the material contact all areas of the mold. This molding procedure is suitable for fabricating complicated, high-strength composite structures of carbon fiber, aramid fiber, or fiberglass in uniform numbers. Aircraft and space will remain significant sources of compression-molded composite parts applications.

Based on services, the global market is divided into repair and maintenance, manufacturing, and design and modeling. 

The manufacturing segment dominates the global market and is expected to exhibit a CAGR of 11.76% over the forecast period. Composites have become part and parcel of manufacturing space systems. As such, several companies provide their advanced composite manufacturing capabilities for space applications. For instance, Applied Composites have five facilities that are engaged in the development of advanced composites. These facilities are in California (U.S.) and Indiana (U.S.). These facilities focus on developing high-quality materials and structures technology, product development, testing services, and producing spacecraft parts for the aerospace and defense sector.

Market Size By Platform

Market Size By Platform
  • Satellite
  • Launch Vehicles
  • Deep Space Probes and Rovers
  • Recent Developments

    Key Players

    Advanced Space Composites Market Share of Key Players

    Advanced Space Composites Market Share of Key Players
    RUAG Group Toray Advanced Composites Hexcel Corporation Airbus S.A.S Boeing GomSpaceA/S HyPerComp Engineering Infinite Composites Technologies Matrix Composites Applied Composites Airborne CST Composites Peak Technology ACPT Inc. AdamWorks, LLC. Others

    Frequently Asked Questions (FAQs)

    How big is the advanced space composites industry?
    The global market size was valued at USD 1,045.31 million in 2022, growing at a CAGR of 11.94%(2023–2031).
    North America region has the largest share of the advanced space composites market.
    Advancement in 3d printing technology for the space industry is one of the key opportunities in advanced space composites market.
    The key players in the global advanced space composites market include RUAG Group, Toray Advanced Composites, Hexcel Corporation, Airbus S.A.S, Boeing, GomSpaceA/S, HyPerComp Engineering, Infinite Composites Technologies, Matrix Composites Applied Composites, Airborne.

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