Asia-Pacific Advanced Space Composites Market is Expected to Double in Approx 6 Years: Here’s Why

11 Jan 2024

In the dynamic realm of aerospace technology, the Asia-Pacific (APAC)Advanced Space Composites Market is poised for remarkable growth. This unprecedented surge is not merely a speculative projection but is underpinned by compelling factors that promise to reshape the landscape of space composites in the region.  

According to the BIS Research report, the APAC Market for Advanced Space Composites is expected to grow by CAGR of 12.38% from 0.26 billion in 2022 to 0.95 billion in the forecasted period of 2023-2033.  

From cutting-edge research and development initiatives to strategic collaborations, this exploration aims to unravel the catalysts propelling this anticipated surge and shed light on the key drivers and trends that are set to drive the Asia-Pacific region to the forefront of advanced space composites innovation.  

Key Players and Market Shares in the APAC Advanced Space Composites Market

As of 2023, carbon fiber asserts its dominance in the material segment of the advanced space composites market, commanding an impressive 31.1% market share. Essential to diverse applications including launch vehicles, satellites, experimental systems, suborbital vehicles, and deep space probes, carbon fiber composites emerge as pivotal contributors to the sector. 

Furthermore, the launch segment takes the forefront in the platform category of the advanced space composites market, capturing a significant 40.25% share in 2023. This underscores the paramount role of launch platforms in driving the market's overall dynamics and highlights their substantial influence on the evolving landscape of advanced space composites.  

Some major companies operating in the global report title are:   

  • Airborne 

  • Beyond Gravity 

  • CRP Technology S.r.l 


  • Hanwha Cimarron 

  • Hexcel Corporation 

  • MT Aerospace AG 

  • Opterus Research and Development 

  • Rock West Composites, Inc. 

  • Teijin Limited 

  • Toray Advanced Composites 

Demand Drivers, Challenges, and Opportunities: APAC Advanced Space Composites Market 

The APAC Advanced Space Composites Market is experiencing a notable upswing, largely propelled by a growing imperative for materials that seamlessly blend the virtues of lightweight construction with exceptional durability. This imperative arises from the evolving demands of contemporary space applications, where the quest for heightened efficiency and expanded capabilities has become paramount. 

The demand for lightweight yet durable materials of advanced space composites is not merely a preference but a necessity. As spaceborne equipment continues to evolve in complexity and sophistication, traditional materials often prove inadequate in meeting the stringent requirements of modern space missions. Herein lies the significance of advanced space composites, particularly those dominated by lightweight and durable elements like carbon fiber.  

As space agencies and private entities alike seek to push the boundaries of space exploration, the APAC region stands at the forefront of harnessing the potential of advanced space composites. The increasing need for materials that defy the conventional trade-off between weight and durability underscores a pivotal shift in the aerospace industry, where innovation in material science becomes a linchpin for unlocking unprecedented opportunities and advancements in space technology. This trend not only signifies a response to the current demands of space exploration but also anticipates a future where advanced space composites will play an even more pivotal role in shaping the trajectory of space missions.  

Recent Developments in the Advanced Space Composites Market  

 Here are some recent developments in the global advance space composites market:  

  • In July 2023, Orbital Composites won a $1.7 million contract from the U.S. Space Force to develop its technological capabilities to facilitate in-orbit manufacturing of satellite antennas. 

  • In June 2023, Beyond Gravity won a contract from ESA to develop the payload fairing for the Ariane 6 launch vehicle. The payload fairing is 14 meters and 20 meters tall for the respective variants of the launch vehicle and will have a standard diameter of 5.4 meters. 

  • In November 2022, MT Aerospace AG won a $33.5 million contract from ESA for developing demonstrator systems made of carbon fiber-reinforced polymer (CFRP) for the Prototype for a Highly OptimizEd Black Upper Stage (PHOEBUS) project, which would be incorporated in the Innovative Carbon Ariane Upper Stage (ICARUS) of the Ariane 6 family of launch vehicles. 

  • In October 2022, Beyond Gravity won a contract to supply 38 payload fairings for ULA’s Vulcan rockets, which would be used to launch the satellites of Amazon’s project Kuiper. 

  • In March 2022, Beyond Gravity and Amazon announced a partnership to develop and manufacture customized composite satellite dispenser systems for Project Kuiper. The project aims to establish a low Earth orbit (LEO) constellation comprising 3,236 satellites. 

Analyst Note

BIS principal analyst suggests: “The growing number of space assets, particularly launching small satellites for satellite constellations and increasing use of reusable launch vehicles, has increased the demand for space composites. The need for composites for manufacturing lightweight and durable satellite and launch vehicle components is expected to propel the advanced space composites market during the forecast period.”