Low Altitude Economy Brings New Growth Poles for Carbon Fiber 1

Carbon Fiber Composite Materials are Key Materials for Achieving Lightweighting in Aerospace Vehicles

Carbon fiber is a fiber structural material with a carbon content of over 90%. It has many characteristics such as low density, high specific strength, and high specific modulus. Under the same weight, its tensile strength can reach more than 9 times that of steel, aluminumalloy, and titanium alloy, and its elastic modulus can reach more than 4 times that of steel, aluminum alloy, and titanium alloy. These advantages make carbon fiber an ideal choice for lightweight aerospace vehicles. By applying carbon fiber composite materials to the manufacturing of aircraft fuselage structures and internal components, the weight of the fuselage can be effectively reduced, energy consumption can be lowered, and structural strength and safety can be enhanced. Using carbon fiber composite materials to create eVTOLs can help reduce the overall weight of the aircraft by 30%~40%.

Low Altitude Economy Brings New Drivers to Carbon Fiber Composite Materilas

Due to eVTOL, small drones, and some light aircraft being driven by electric motors, there is a higher demand for lightweight design. The proportion of carbon fiber composite materials in teh structure and components of eVTOL far exceeds that of traditional aircraft. In the field of civil aviation, about 50% of the structure of the Boeing 787 is mde of composite materials. According to  Stratview Research data, composite materials account for over 70% of all materials used in eVTOL fuselage structures. More than 90% of composite materials use carbon fiber reinforcement, and approximately 10% use glass fiber reinforcement. It can be inferred that carbon fiber composite materials account for over 63% of evTOL materilas. Approximately 75%~80% of the composite materials used in eVTOL will be applied to structural components and propulsion systems, while 12%~14% will be used in internal structural applicatioins such as crossbeams and seat structures; The remaining 8%~12% is used in battery systems, avionics, and other small-scale applications.

Carbon Fiber Composites Have Been Widely Used in Mainstream eVTOL Models

The three most mainstream manufacuturers of eVTOL in China are Yihang Intelligent, XIaopeng Huitian, and Fengfei Aviation. The models with more publicly available design parameters under these three manufacturers are Yihang Intelligent's EH216-S, Xiaopeng Huitian's Traveler X2, and Fengfei Aviation's Sheng Shilong. For traditional commuercial aircraft, maximum takeoff weight = empty weight + fuel weight + maximum payload. Since eVTOL is purely electric, maximum takeoff weight = empty weight + maximum payload. We can subtract the maximum payload from the published maximum takeoff weight to obtain the empty weight of the aircraft. According to the disclosure, the maximum payload per person for Traveler X2 is (560-360)/2=100 kilograms. According to China Hengrui HRC, the body of the Xiaopeng Huitian X2 is exclusively manufactured by HRC, and its carbon ifber weight is only 85KG. The proportion of carbon fiber composite material can be calculated as 85/360=23.6%. Assuming that the proportion of carbon fiber used in eVTOL by YIhang Intelligent and Fengfei Aviation is also 23.6%.

EVTOL will Become a New Growth Pole for Carbon Fiber in the Aerospace Industry

According to Stratview Research, the demand for composite materials in the eVTOL industry is expected to increase significantly over the next six years, with an estimatied surge from approximately 1.1 millioin pounds (about 500 tons) in 2024 to 25.9 million poucnds (about 11750 tons) in 2030, a growth rate of approximately 22.5 times, and an annualized growth rate of 69%. According to the prediction of Saio Carbon Fiber, the demand for aerospace carbon fiber will increase from 22000 tons in 2023 to 48635 tons in 2030, with an annualized growth rate of 12%. However, the promotion effect of increased policy support on the development of the eVTOL industry this year has not been considered. if calculated based on the above two static predictions, the proportion of carbon fiber demand from eVTOL in the aerospace industry in 2030 will be 24.2%. If eVTOL accelerates its landing under policy catalysis, the proportion will be even higher in the future, indicating that eVTOL will become an important source of demand for aerospace carbon fiber.