航空复材20250910

Summary of the Conference Call on Aerospace Composite Materials Industry Overview - The military aerospace auxiliary materials market is experiencing stable growth, driven by the development and mass production of new military aircraft. Over the next decade, the demand for composite materials in Chinese military aircraft is expected to reach 18,000 tons, excluding the demand for drones, indicating a potentially larger market space [2][5]. - The demand for composite materials in the civil aviation sector significantly exceeds that of military applications. New civil aircraft like Boeing 787 and Airbus A350 have a composite material usage ratio exceeding 50%. It is projected that over the next 20 years, the demand for composite materials in China's civil aviation market will reach 108,000 tons, several times that of the military market [2][6]. - In the low-altitude economy sector, general aviation and eVTOL (electric Vertical Take-Off and Landing) aircraft show substantial potential for carbon fiber composite material demand. It is estimated that the demand for carbon fiber in general aviation will be around 20,000 tons over the next 20 years, with eVTOL requiring 2,600 tons annually by 2030 in China [2][7]. Key Companies and Competitive Landscape - Domestic companies are gradually maturing through technological iterations and experience accumulation. Projects like C919 are expected to adopt more domestic auxiliary materials, aiming for over 50% usage rate, indicating significant potential for domestic substitution [2][8]. - The competitive landscape of the domestic carbon fiber industry is clear, with Guangwei Composite and Zhongjian Technology being the main players in the military aerospace sector. AVIC High-Tech dominates the prepreg segment, while aircraft manufacturers and their auxiliary material suppliers are responsible for the forming of auxiliary materials and structural components [2][10]. Market Trends and Future Outlook - During the "14th Five-Year Plan" period, the aerospace auxiliary materials market experienced explosive growth, particularly in the first few years. Major companies in the industry, such as AVIC High-Tech, Guangwei Composite, and Zhongjian Technology, achieved significant performance growth. The military aerospace auxiliary materials market is expected to continue stable growth, with civil aviation emerging as a second growth curve [3][9]. - The demand for composite materials in the military aviation sector is rapidly increasing, with the "14th Five-Year Plan" serving as a starting point. The market is expected to significantly expand in the coming years as domestic replacement processes and new model equipment are introduced [9][15]. Technological Developments - Key breakthroughs in composite materials technology are focused on the upstream fiber segment and downstream resin applications. Improvements in fiber performance are foundational for the application of composite materials, with significant advancements in high-performance carbon fiber technology achieved domestically [11][14]. - Cost control potential for carbon fiber auxiliary materials is primarily concentrated in the upstream carbon fiber production and downstream auxiliary material component forming segments. Scale effects and automation in production can effectively reduce costs [12][16]. International Comparison - There are notable differences in the application of military aerospace composite materials between domestic and international markets. For instance, the composite material usage in the U.S. fourth-generation fighter jets like F-22 and F-35 is 25% and 35%, respectively, with future sixth-generation aircraft expected to increase this ratio further [4][6]. - The global leaders in carbon fiber auxiliary materials, such as Hexcel and Toray, have distinct development paths. Hexcel has a strong focus on the U.S. market, while Toray has a more extensive global presence, indicating varying strategies in international competition [17][20]. Conclusion - The domestic aerospace composite materials market is poised for significant growth, driven by advancements in technology, increasing demand in civil aviation, and the successful implementation of domestic projects like C919. Companies that strategically position themselves in the civil aviation sector and leverage technological advancements are likely to benefit from the expanding market opportunities [2][28].