The mushrooming requirement of lightweight composites in aerospace and manufacturing industries is one of the biggest factors fuelling the increasing adoption of ceramic matrix composites (CMC) throughout the globe. Owing to numerous beneficial traits such as high strength-to-weight ratios, wear resistance, and excellent mechanical properties, CMCs are being increasingly adopted in the aerospace industry and several applications pertaining to helicopter rotor blade sleeves, high-speed machine components, fans of jet engines, power transmission lines, and ventral fins of fighter aircrafts. The increasing manufacturing of aircrafts, especially in Europe, is also massively boosting the sales of CMCs.

Due to the above-mentioned reasons, the revenue attained by the global ceramic matrix composites market is predicted to increase from $1,891.3 million to $6,006.1 million from 2015 to 2024. The market is predicted to demonstrate a CAGR of 13.7% during the forecast period (2016—2024). The most commonly used types of CMC are silicon carbide (SiC), carbon, and oxide. Out of these, the SiC registered the highest sales in 2015. This is ascribed to the widespread utilization of silicon carbide-based matrices in various industries such as defense, electronics, and aerospace.

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CMCs are extensively used in electrical and electronics, energy and power, aerospace, and defense applications. Out of these, the aerospace applications recorded the highest demand for CMCs in 2015 and this trend is expected to continue during the forecast period as well. This is primarily attributed to the large-scale utilization of CMCs in various applications related to the aerospace industry and aircrafts such as wings, empennage, and fuselage, on account of their numerous beneficial traits such as thermal protection.

Globally, North America registered the highest sales of CMCs in 2015, mainly because of the large-scale usage of these materials in the defense and aerospace industries of the U.S. However, the Asia-Pacific (APAC) region is predicted to observe the fastest growth in the usage of ceramic matrix composites (CMCs) during the forecast period. This is mainly credited to the rising energy consumption, defense spending, and investments being made, especially in the developing nations of APAC such as India and China, for promoting the development of various space exploration programs.