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The global aerospace composites market is estimated to occupy a large amount of revenue by growing at a CAGR of ~12% during the forecast period, i.e., 2023 u2013 2033, ascribing to the growing demand for composite materials from the aerospace industry globally owing to the high tensile strength and low weight of these materials. Along with this, escalating replacement of aging aircrafts with fuel-efficient ones, and increasing military spending around the world are also expected to accelerate the growth of the market in the forthcoming years.
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