The Global Ceramic Matrix Composite Market in Aircraft Engine Growth Forecast, Stratview Research EstimatesThe matchless properties of Ceramic Matrix Composites (CMCs) has resulted in its proliferating demand. According to Stratview Research, the market shall undergo strong growth of around 30% for the next five years (2018-2023) to reach the market size of over US$ 400 million by 2023.
The CMCs have many uniques properties, one such is its high-temperature tolerance i.e. it can tolerate temperatures up to 2400 ℉. This makes it a desirable material for many applications which are facing temperature constraint. CMCs have found applications in the Energy and Environmental industries, in radiant heater tubes, heat exchangers, heat recuperators, in turbines for power generation & nuclear reactors.
Aviation is one such industry in critical need of materials like CMC. The running temperature inside the aircraft engine is around 1700-2000 ℃, which is over the melting point of available materials, thus there is an urgent requirement for high-temperature tolerant materials for aircraft engines. Hitherto, Nickel-alloys were utilized to make aircraft engine parts, but their temperature resistance is far inferior as compared to that of CMCs, which can endure 500 ℉ higher temperature than Nickel-based superalloys.
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In terms of properties, CMCs outperform their only rival, the nickel-based superalloys. CMCs weigh a fraction and withstand much higher temperatures, which translates into increased thrust and higher fuel efficiency. The above facts have catalyzed the replacement of superalloys with CMCs, thus driving its growth.
Stratview Research after analyzing a variety of germane factors estimates that the global CMCs market in aircraft engines is likely to grow at a remarkable compounded annual growth rate (CAGR) of near 30% for the next five years to reach the market value of over US$ 400 million by 2023.
The exceedingly consolidated market is dominated by the main five players; GE Aviation, Pratt and Whitney, Composite Horizons, Safran Herakles and COI Ceramics, Inc. together account for more than three-fourths of the market share. GE Aviation is probably going to remain the most overwhelming player in the CMCs and shall remain so during the forecast time frame. GE Aviation was the pioneer in CMC mechanical applications and will likewise have the distinction of turning into the first vertically incorporated CMC player by 2020.
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The aircraft industry is in dire need for enhanced fuel efficiency. CMC due to high-temperature tolerance boosts fuel efficiency and as the production of many new age aircrafts increases, the demand for CMC shall increase.
The industry has been developing new engines (ex. GE9x and Passport 20)which are increasingly adopting CMCs. GE Aviation, CFM International, Rolls-Royce, Pratt & Whitney, and Honeywell, are continuously conducting R&D for the development of CMC components to increase fuel efficiency and to reduce noise.
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