Global Automated Fiber Placement (AFP) and Automated Tape Layup (ATL) Composites Markets, 2015-2020 & 2021-2026
DUBLIN, Oct. 6, 2021 /PRNewswire/ -- The "AFP/ATL Composites Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026" report has been added to ResearchAndMarkets.com's offering.
Global AFP/ATL composites market is subjected to grow at a promising CAGR of 10.8% to reach US$ 3.1 Billion in 2026.
Development of systems with greater layup rate, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
Automated Fiber Placement (AFP) and Automated Tape Layup (ATL) are the processes that use numerically controlled machines to lay a single or multiple layers of composites in the form of fabrics or tows onto a mold in order to give certain shapes to form a part or structure. These are generally used to manufacture large components in the aircraft industry such as fuselage sections, wings, and nose cone.
Furthermore, there has been a paradigm shift from traditional heavyweight materials to advanced composite materials in the wake of their countless advantages including lightweight, excellent strength-to-weight ratio, corrosion resistance, etc.
AFP/ATL Composites Market Share by Resin Type
Based on the resin type, the AFP/ATL composites market is segmented as thermoset composites and thermoplastic composites. Thermoset composites are expected to remain the most dominant material type in the market during the forecast period, whereas thermoplastic composite is expected to experience faster growth during the same period.
All major aircraft AFP/ATL composite applications, such as fuselage and wings, are manufactured using carbon epoxy composites. Also, thermoset composites are widely used in key automotive applicaions such as roof, bumper, body frame, and enclosures for a battery pack.
AFP/ATL Composites Market Share by Automation Type
Based on the automation type, the market is segmented as AFP composites and ATL composites. AFP composite is expected to remain the larger and the faster-growing segment of the market during the forecast period. AFP achieves greater precision over ATL and fulfills flexible part design requirements as well as can be an effective technique for shorter course placements.
In terms of regions, North America is expected to remain the largest market for AFP/ATL composites during the forecast period. B787, F-35, B737 Max, and A220 are the growth engines of the region's demand for AFP/ATL composites. The upcoming aircraft variant; B777x, is likely to add new revenue pockets to the region's market. Key players in the region are Spirit AeroSystems, The Boeing Company, Northrup Grumman, etc.
The market for AFP/ATL composites is gradually consolidating with the leading companies are engaged in M&A activities. Also, private equity firms are keenly investing in the industry by acquiring mid-to small-sized companies.
For instance, Spirit AeroSystems acquired the select assets of Bombardier Aerostructures and aftermarket service businesses in Belfast, Northern Ireland, Casablanca, Morocco, and Dallas, the United States.
Along with the acquisition of these three sites, the company also acquired the complete work package for the A220 wing manufacturing process and technology.
The following are the key players in the AFP/ATL composites market.
Key Topics Covered:
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SOURCE Research and Markets