Aerospace Materials Market Overview
The Global Aerospace Materials market was valued at USD 19.74 billion in 2023 and is expected to reach USD 35.84 billion by the year 2032, at a CAGR of 6.85%
Aerospace materials are referred to as the materials which are utilized by the aircraft OEMs & component producers for creating various aircraft parts. The materials applied in airplane design have been constantly developing. Prior flights were primarily built of spruce and ash wood with muslin covering the wings, while today's airliners are produced mostly of aluminum with some structure made from steel. Aluminum is thin, technically developed in terms of forming and alloying, and it is relatively cheap cost, especially when compared to other composites hence providing effective aerodynamic features to the airplane. Furthermore, materials such as titanium alloys, steel alloys, superalloys, aluminum alloys, and composite materials are utilized to manufacture aircraft. Composite materials in aerospace are applied primarily owing to they have higher strength to weight ratio than metals. Hence, they help inefficient application of fuel enable in declining harmful fuel emissions into the atmosphere. The different types of aerospace composites such as glass fiber reinforced plastics, carbon fiber reinforced plastics, metal matrix composites (MMC), aramid fiber composites, and ceramic matrix composites (CMC). Amidst the COVID-19 pandemic, the global market for Aerospace Materials is estimated to gain US$25.1 Billion by 2027, over the analysis period.
COVID-19 Impact on Aerospace Materials Market
The market was poorly influenced by COVID-19 in 2020. Due to the crisis and the lockdowns foisted to restraints the spread of the virus, passenger air-travel activities were temporarily shut down. Even after the lockdown ended, people were hesitant to travel frequently. As per the International Civil Aviation Organization (ICAO), the overall number of passengers globally bring down by 92% in April 2020, compared to the same month in 2019. In addition, international traffic was demolished by 98%. These factors declined the development of the aerospace industry, which, in turn, poorly impacted the demand for the Aerospace Materials market. Furthermore, the interruption in the supply chain resulting in delays or non-arrival of raw materials disrupted financial flows, and rising defection among production line workers have forced aerospace component manufacturers to operate at partial capacities.
Market Dynamics And Factors For The Aerospace Materials Market
Drivers:
Growth in the aerospace materials market is set to be accelerated mainly by the strongly rising commercial air travel demand. The demand for stronger, lighter, quieter operating, safer, fuel-efficient and lower emission aircraft is turning demand for next-generation materials in manufacturing. Some of the major factors turning growth in the market include the growth in the number of orders and deliveries for new and wide-bodied commercial aircraft, rising number of low-cost carriers, growing demand for lightweight and more fuel-efficient aircraft, and technological developments in composite materials. Low-cost carriers (LCCs) have proved to be strong competitors in the market, especially in the emerging countries of APAC and South America. More travelers are expected to fly more often in the MEA and APAC. Aircraft carriers such as Emirates (UAE), Qatar Airways (Qatar), and Etihad Airways (UAE) are among the biggest players in commercial aviation in the Middle East and carry the majority of passengers who travel between APAC and Europe. The number of people applying air transport is rising, driving the demand for larger airplanes. This demand will bring business opportunities to companies providing aerospace materials and other required components in the aircraft manufacturing industry.
Restraints:
The decline in the number of aircraft deliveries would directly affect the aerospace materials market. Since more than 80% of the utilization of composite material is in commercial aircraft, the decline in demand for composite owing to the reduced number of aircraft orders would poorly impact the aerospace materials market. For example, the grounding of Boeing 737MAX resulting from accidents suffered by the Malaysian and Ethiopian Airlines, recently, resulted in the cancellation of its orders. In the first quarter of 2020, Airbus and Boeing delivered 122 and 50 commercial aircraft worldwide, which is 22% and 66% less as compared with the first quarter of 2019.
Opportunities:
UAV (drone) applications in the military have matured, becoming a key asset in military organizations globally and creating business opportunities. Nevertheless, the civil and commercial market for UAVs is in its incipient phases with significant unrealized potential in a wide number of utilizations. Military expenditure for UAV technology is expected to increase as a total percentage of military budgets, providing growth opportunities to specialized drone producers and software developers.
Market Segmentation
Segmentation Analysis of Aerospace Materials Market:
Based on the Aircraft Type, the Commercial Aircraft segment is expected to record the maximum Aerospace Materials market share during the forecast period. General and commercial aircraft are utilized for various purposes, including civil aviation (both private and commercial) and passenger and freight transportation. The demand for aircraft is rising as air passengers are continuously growing in developing economies. As per the International Air Transport Association (IATA), the global air transport industry was valued at USD 838 billion in 2019. It gained over USD 419 billion in 2020, registering a decreasing rate of 50%. Honeywell projected that approximately 7,700 new aircraft deliveries may occur by 2028. Single-aisle aircraft are mainly utilized for commercial purposes. As per Boeing, 32,270 units of single-aisle aircraft (narrow-body aircraft) will be provided globally in the next 20 years, which may grow the demand for aerospace materials in the coming years. This rise will produce additional demand for newer aircraft resulting in aerospace materials demand.
Based on Type, the composite materials segment is expected to register the largest share of the Aerospace Materials market over the forecast period. Composites are increasingly being opted over traditional material for the production of a range of products for the simple reason that they combine properties of different constituent materials to offer more benefits and features to the end-users. Composite materials are thus turning the trend of one-piece designs, or fewer components in aircraft assembly. Man-made composite materials utilized in the aerospace industry mainly comprise carbon-fiber-reinforced plastic (CFRP) and glass-fiber-reinforced plastic (GFRP). CFRPs are the most applied composite materials in both functional and cabin components currently. Aircraft OEMs have started including considerable amounts of carbon composites even in single-aisle, long in-service passenger jets.
Based on the Application, the structural frames segment is expected to register the largest share for the Aerospace Materials market over the forecast period. Materials such as aluminum are compared very suitable for aircraft's frame owing to the lightweight and strength. In addition, aerospace materials utilized in structural frames are lighter than steel and hence enable higher aircraft payload and improved fuel efficiency. Also, materials such as aluminum are majorly resistant to corrosion thereby enhancing aircraft safety.
Regional Analysis of Aerospace Materials Market:
The North American region is expected to dominate the aerospace materials market over the forecast period. The US represents the maximum market for aerospace materials, primarily owing to significant research and development investments by the government in the aerospace sector, the presence of various major aircraft manufacturers such as Carpenter Technology Corporation (US), Allegheny Technologies Incorporated (US), ATI Metals (US), and others, also the adoption of different growth strategies, such as developments and mergers and accession by leading market participants.
Europe region has key aerospace materials manufacturers, such as Rio Tinto Group (UK), Solvay S.A. (Belgium), VSMPO-AVISMA Corporation (Russia), and others are helps to hasten the growth of the aerospace materials market. Raised deliveries of Airbus aircraft primarily turn the composites material demand in Europe. In addition, the region develops military aircraft and helicopters. The European region is one of the worst influenced by the COVID-19, resulting in declined industrial and economic activities across all major economies such as the UK, Germany, France, Italy, and France.
In Asia-Pacific, the region has been observing a significant increase in demand for new aircraft on account of the economic growth and growth in disposable income that has aided in the rapid increase in the number of air travelers and low-cost carriers, which is anticipated to turn growth in the regional market. As per Boeing, in 2019, over 25% of all air travel globally occurred within Asia. This value is forecast to change to 35% in the next two decades and to occupy the maximum share of intra-regional air travel globally. The Asia-Pacific region is estimated to obtain 17,390 deliveries of new airplanes in the next two decades, which may raise the total number of airplane fleets to 19,420. This may, in turn, raise the demand for the aerospace materials market in the coming years.
Players Covered in Aerospace Materials Market are :
- Carpenter Technology Corporation (US)
- Constellium SE (France)
- Rio Tinto Group (UK)
- Toray Industries Inc. (Japan)
- Alcoa Corporation (US)
- Teijin Limited (Japan)
- Hexcel Corporation (US)
- AMG N.V. (Netherlands)
- NOVELIS (US)
- Hexcel (US)
- Aleris Corporation (US)
- Arconic Inc. (the US)
- Allegheny Technologies Incorporated (US)
- ATI Metals (US)
- Kaiser Aluminum (US)
- VSMPO-AVISMA Corporation (Russia)
- Kobe Steel Ltd. (Japan)
- TIMET (Berkshire Hathaway Inc.) (US)
- DuPont de Nemours Inc. (the US)
- and others Major Players.
Key Industry Developments In The Aerospace Materials Market
- December 2023: Teijin Limited announced the production and sale of Tenax Carbon Fiber, made using sustainable acrylonitrile (AN) waste and leftover biomass materials. This innovative carbon fiber supported industries like aerospace by offering an eco-friendly solution without compromising performance. The development highlighted Teijin's commitment to sustainability and advancing green technologies for diverse industrial applications.
- June 2023: Toray Industries showcased its cutting-edge composite material solutions at the 2023 Paris Air Show, highlighting TORAYCA carbon fiber, thermoset materials, and thermoplastic composites. The company facilitated large-scale composite adoption in commercial and general aviation and advanced next-generation programs through innovative product launches, reaffirming its leadership in aerospace materials innovation.
Aerospace Materials Market |
|||
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 19.74Bn. |
Forecast Period 2022-28 CAGR: |
6.85% |
Market Size in 2032: |
USD 35.84 Bn. |
Segments Covered: |
By Type |
|
|
By Aircraft Type |
|
||
By Application |
|
||
By Region |
|
||
Key Market Drivers: |
|
||
Key Market Restraints: |
|
||
Key Opportunities: |
|
||
Companies Covered in the report: |
|
Chapter 1: Introduction
ā1.1 Research Objectives
ā1.2 Research Methodology
ā1.3 Research Process
ā1.4 Scope and Coverage
āā1.4.1 Market Definition
āā1.4.2 Key Questions Answered
ā1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
ā3.1 By Type
ā3.2 By Aircraft Type
ā3.3 By Application
Chapter 4: Market Landscape
ā4.1 Porter's Five Forces Analysis
āā4.1.1 Bargaining Power of Supplier
āā4.1.2 Threat of New Entrants
āā4.1.3 Threat of Substitutes
āā4.1.4 Competitive Rivalry
āā4.1.5 Bargaining Power Among Buyers
ā4.2 Industry Value Chain Analysis
ā4.3 Market Dynamics
āā4.3.1 Drivers
āā4.3.2 Restraints
āā4.3.3 Opportunities
āā4.5.4 Challenges
ā4.4 Pestle Analysis
ā4.5 Technological Roadmap
ā4.6 Regulatory Landscape
ā4.7 SWOT Analysis
ā4.8 Price Trend Analysis
ā4.9 Patent Analysis
ā4.10 Analysis of the Impact of Covid-19
āā4.10.1 Impact on the Overall Market
āā4.10.2 Impact on the Supply Chain
āā4.10.3 Impact on the Key Manufacturers
āā4.10.4 Impact on the Pricing
Chapter 5: Aerospace Materials Market by Type
ā5.1 Aerospace Materials Market Overview Snapshot and Growth Engine
ā5.2 Aerospace Materials Market Overview
ā5.3 Steel Alloys
āā5.3.1 Introduction and Market Overview
āā5.3.2 Historic and Forecasted Market Size (2017-2032F)
āā5.3.3 Key Market Trends, Growth Factors and Opportunities
āā5.3.4 Steel Alloys: Grographic Segmentation
ā5.4 Titanium Alloys
āā5.4.1 Introduction and Market Overview
āā5.4.2 Historic and Forecasted Market Size (2017-2032F)
āā5.4.3 Key Market Trends, Growth Factors and Opportunities
āā5.4.4 Titanium Alloys: Grographic Segmentation
ā5.5 Aluminium Alloys
āā5.5.1 Introduction and Market Overview
āā5.5.2 Historic and Forecasted Market Size (2017-2032F)
āā5.5.3 Key Market Trends, Growth Factors and Opportunities
āā5.5.4 Aluminium Alloys: Grographic Segmentation
ā5.6 Super Alloys
āā5.6.1 Introduction and Market Overview
āā5.6.2 Historic and Forecasted Market Size (2017-2032F)
āā5.6.3 Key Market Trends, Growth Factors and Opportunities
āā5.6.4 Super Alloys: Grographic Segmentation
ā5.7 Plastics
āā5.7.1 Introduction and Market Overview
āā5.7.2 Historic and Forecasted Market Size (2017-2032F)
āā5.7.3 Key Market Trends, Growth Factors and Opportunities
āā5.7.4 Plastics: Grographic Segmentation
ā5.8 Others
āā5.8.1 Introduction and Market Overview
āā5.8.2 Historic and Forecasted Market Size (2017-2032F)
āā5.8.3 Key Market Trends, Growth Factors and Opportunities
āā5.8.4 Others: Grographic Segmentation
Chapter 6: Aerospace Materials Market by Aircraft Type
ā6.1 Aerospace Materials Market Overview Snapshot and Growth Engine
ā6.2 Aerospace Materials Market Overview
ā6.3 Commercial Aircraft
āā6.3.1 Introduction and Market Overview
āā6.3.2 Historic and Forecasted Market Size (2017-2032F)
āā6.3.3 Key Market Trends, Growth Factors and Opportunities
āā6.3.4 Commercial Aircraft: Grographic Segmentation
ā6.4 Business & General Aviation
āā6.4.1 Introduction and Market Overview
āā6.4.2 Historic and Forecasted Market Size (2017-2032F)
āā6.4.3 Key Market Trends, Growth Factors and Opportunities
āā6.4.4 Business & General Aviation: Grographic Segmentation
ā6.5 Military Aircraft
āā6.5.1 Introduction and Market Overview
āā6.5.2 Historic and Forecasted Market Size (2017-2032F)
āā6.5.3 Key Market Trends, Growth Factors and Opportunities
āā6.5.4 Military Aircraft: Grographic Segmentation
ā6.6 Helicopters
āā6.6.1 Introduction and Market Overview
āā6.6.2 Historic and Forecasted Market Size (2017-2032F)
āā6.6.3 Key Market Trends, Growth Factors and Opportunities
āā6.6.4 Helicopters: Grographic Segmentation
ā6.7 Rotorcrafts
āā6.7.1 Introduction and Market Overview
āā6.7.2 Historic and Forecasted Market Size (2017-2032F)
āā6.7.3 Key Market Trends, Growth Factors and Opportunities
āā6.7.4 Rotorcrafts: Grographic Segmentation
ā6.8 Others
āā6.8.1 Introduction and Market Overview
āā6.8.2 Historic and Forecasted Market Size (2017-2032F)
āā6.8.3 Key Market Trends, Growth Factors and Opportunities
āā6.8.4 Others: Grographic Segmentation
Chapter 7: Aerospace Materials Market by Application
ā7.1 Aerospace Materials Market Overview Snapshot and Growth Engine
ā7.2 Aerospace Materials Market Overview
ā7.3 Structural Frames
āā7.3.1 Introduction and Market Overview
āā7.3.2 Historic and Forecasted Market Size (2017-2032F)
āā7.3.3 Key Market Trends, Growth Factors and Opportunities
āā7.3.4 Structural Frames: Grographic Segmentation
ā7.4 Cabin Interiors
āā7.4.1 Introduction and Market Overview
āā7.4.2 Historic and Forecasted Market Size (2017-2032F)
āā7.4.3 Key Market Trends, Growth Factors and Opportunities
āā7.4.4 Cabin Interiors: Grographic Segmentation
ā7.5 Propulsion System
āā7.5.1 Introduction and Market Overview
āā7.5.2 Historic and Forecasted Market Size (2017-2032F)
āā7.5.3 Key Market Trends, Growth Factors and Opportunities
āā7.5.4 Propulsion System: Grographic Segmentation
ā7.6 Others
āā7.6.1 Introduction and Market Overview
āā7.6.2 Historic and Forecasted Market Size (2017-2032F)
āā7.6.3 Key Market Trends, Growth Factors and Opportunities
āā7.6.4 Others: Grographic Segmentation
Chapter 8: Company Profiles and Competitive Analysis
ā8.1 Competitive Landscape
āā8.1.1 Competitive Positioning
āā8.1.2 Aerospace Materials Sales and Market Share By Players
āā8.1.3 Industry BCG Matrix
āā8.1.4 Ansoff Matrix
āā8.1.5 Aerospace Materials Industry Concentration Ratio (CR5 and HHI)
āā8.1.6 Top 5 Aerospace Materials Players Market Share
āā8.1.7 Mergers and Acquisitions
āā8.1.8 Business Strategies By Top Players
ā8.2 CARPENTER TECHNOLOGY CORPORATION
āā8.2.1 Company Overview
āā8.2.2 Key Executives
āā8.2.3 Company Snapshot
āā8.2.4 Operating Business Segments
āā8.2.5 Product Portfolio
āā8.2.6 Business Performance
āā8.2.7 Key Strategic Moves and Recent Developments
āā8.2.8 SWOT Analysis
ā8.3 CONSTELLIUM SE
ā8.4 RIO TINTO GROUP
ā8.5 TORAY INDUSTRIES INC.
ā8.6 ALCOA CORPORATION
ā8.7 TEIJIN LIMITED
ā8.8 HEXCEL CORPORATION
ā8.9 AMG N.V.
ā8.10 NOVELIS
ā8.11 HEXCEL
ā8.12 ALERIS CORPORATION
ā8.13 ARCONIC INC.
ā8.14 ALLEGHENY TECHNOLOGIES INCORPORATED
ā8.15 ATI METALS
ā8.16 KAISER ALUMINUM
ā8.17 VSMPO-AVISMA CORPORATION
ā8.18 KOBE STEEL LTD.
ā8.19 TIMET (BERKSHIRE HATHAWAY INC.)
ā8.20 DUPONT DE NEMOURS INC.
ā8.21 OTHER MAJOR PLAYERS
Chapter 9: Global Aerospace Materials Market Analysis, Insights and Forecast, 2017-2032
ā9.1 Market Overview
ā9.2 Historic and Forecasted Market Size By Type
āā9.2.1 Steel Alloys
āā9.2.2 Titanium Alloys
āā9.2.3 Aluminium Alloys
āā9.2.4 Super Alloys
āā9.2.5 Plastics
āā9.2.6 Others
ā9.3 Historic and Forecasted Market Size By Aircraft Type
āā9.3.1 Commercial Aircraft
āā9.3.2 Business & General Aviation
āā9.3.3 Military Aircraft
āā9.3.4 Helicopters
āā9.3.5 Rotorcrafts
āā9.3.6 Others
ā9.4 Historic and Forecasted Market Size By Application
āā9.4.1 Structural Frames
āā9.4.2 Cabin Interiors
āā9.4.3 Propulsion System
āā9.4.4 Others
Chapter 10: North America Aerospace Materials Market Analysis, Insights and Forecast, 2017-2032
ā10.1 Key Market Trends, Growth Factors and Opportunities
ā10.2 Impact of Covid-19
ā10.3 Key Players
ā10.4 Key Market Trends, Growth Factors and Opportunities
ā10.4 Historic and Forecasted Market Size By Type
āā10.4.1 Steel Alloys
āā10.4.2 Titanium Alloys
āā10.4.3 Aluminium Alloys
āā10.4.4 Super Alloys
āā10.4.5 Plastics
āā10.4.6 Others
ā10.5 Historic and Forecasted Market Size By Aircraft Type
āā10.5.1 Commercial Aircraft
āā10.5.2 Business & General Aviation
āā10.5.3 Military Aircraft
āā10.5.4 Helicopters
āā10.5.5 Rotorcrafts
āā10.5.6 Others
ā10.6 Historic and Forecasted Market Size By Application
āā10.6.1 Structural Frames
āā10.6.2 Cabin Interiors
āā10.6.3 Propulsion System
āā10.6.4 Others
ā10.7 Historic and Forecast Market Size by Country
āā10.7.1 U.S.
āā10.7.2 Canada
āā10.7.3 Mexico
Chapter 11: Europe Aerospace Materials Market Analysis, Insights and Forecast, 2017-2032
ā11.1 Key Market Trends, Growth Factors and Opportunities
ā11.2 Impact of Covid-19
ā11.3 Key Players
ā11.4 Key Market Trends, Growth Factors and Opportunities
ā11.4 Historic and Forecasted Market Size By Type
āā11.4.1 Steel Alloys
āā11.4.2 Titanium Alloys
āā11.4.3 Aluminium Alloys
āā11.4.4 Super Alloys
āā11.4.5 Plastics
āā11.4.6 Others
ā11.5 Historic and Forecasted Market Size By Aircraft Type
āā11.5.1 Commercial Aircraft
āā11.5.2 Business & General Aviation
āā11.5.3 Military Aircraft
āā11.5.4 Helicopters
āā11.5.5 Rotorcrafts
āā11.5.6 Others
ā11.6 Historic and Forecasted Market Size By Application
āā11.6.1 Structural Frames
āā11.6.2 Cabin Interiors
āā11.6.3 Propulsion System
āā11.6.4 Others
ā11.7 Historic and Forecast Market Size by Country
āā11.7.1 Germany
āā11.7.2 U.K.
āā11.7.3 France
āā11.7.4 Italy
āā11.7.5 Russia
āā11.7.6 Spain
āā11.7.7 Rest of Europe
Chapter 12: Asia-Pacific Aerospace Materials Market Analysis, Insights and Forecast, 2017-2032
ā12.1 Key Market Trends, Growth Factors and Opportunities
ā12.2 Impact of Covid-19
ā12.3 Key Players
ā12.4 Key Market Trends, Growth Factors and Opportunities
ā12.4 Historic and Forecasted Market Size By Type
āā12.4.1 Steel Alloys
āā12.4.2 Titanium Alloys
āā12.4.3 Aluminium Alloys
āā12.4.4 Super Alloys
āā12.4.5 Plastics
āā12.4.6 Others
ā12.5 Historic and Forecasted Market Size By Aircraft Type
āā12.5.1 Commercial Aircraft
āā12.5.2 Business & General Aviation
āā12.5.3 Military Aircraft
āā12.5.4 Helicopters
āā12.5.5 Rotorcrafts
āā12.5.6 Others
ā12.6 Historic and Forecasted Market Size By Application
āā12.6.1 Structural Frames
āā12.6.2 Cabin Interiors
āā12.6.3 Propulsion System
āā12.6.4 Others
ā12.7 Historic and Forecast Market Size by Country
āā12.7.1 China
āā12.7.2 India
āā12.7.3 Japan
āā12.7.4 Singapore
āā12.7.5 Australia
āā12.7.6 New Zealand
āā12.7.7 Rest of APAC
Chapter 13: Middle East & Africa Aerospace Materials Market Analysis, Insights and Forecast, 2017-2032
ā13.1 Key Market Trends, Growth Factors and Opportunities
ā13.2 Impact of Covid-19
ā13.3 Key Players
ā13.4 Key Market Trends, Growth Factors and Opportunities
ā13.4 Historic and Forecasted Market Size By Type
āā13.4.1 Steel Alloys
āā13.4.2 Titanium Alloys
āā13.4.3 Aluminium Alloys
āā13.4.4 Super Alloys
āā13.4.5 Plastics
āā13.4.6 Others
ā13.5 Historic and Forecasted Market Size By Aircraft Type
āā13.5.1 Commercial Aircraft
āā13.5.2 Business & General Aviation
āā13.5.3 Military Aircraft
āā13.5.4 Helicopters
āā13.5.5 Rotorcrafts
āā13.5.6 Others
ā13.6 Historic and Forecasted Market Size By Application
āā13.6.1 Structural Frames
āā13.6.2 Cabin Interiors
āā13.6.3 Propulsion System
āā13.6.4 Others
ā13.7 Historic and Forecast Market Size by Country
āā13.7.1 Turkey
āā13.7.2 Saudi Arabia
āā13.7.3 Iran
āā13.7.4 UAE
āā13.7.5 Africa
āā13.7.6 Rest of MEA
Chapter 14: South America Aerospace Materials Market Analysis, Insights and Forecast, 2017-2032
ā14.1 Key Market Trends, Growth Factors and Opportunities
ā14.2 Impact of Covid-19
ā14.3 Key Players
ā14.4 Key Market Trends, Growth Factors and Opportunities
ā14.4 Historic and Forecasted Market Size By Type
āā14.4.1 Steel Alloys
āā14.4.2 Titanium Alloys
āā14.4.3 Aluminium Alloys
āā14.4.4 Super Alloys
āā14.4.5 Plastics
āā14.4.6 Others
ā14.5 Historic and Forecasted Market Size By Aircraft Type
āā14.5.1 Commercial Aircraft
āā14.5.2 Business & General Aviation
āā14.5.3 Military Aircraft
āā14.5.4 Helicopters
āā14.5.5 Rotorcrafts
āā14.5.6 Others
ā14.6 Historic and Forecasted Market Size By Application
āā14.6.1 Structural Frames
āā14.6.2 Cabin Interiors
āā14.6.3 Propulsion System
āā14.6.4 Others
ā14.7 Historic and Forecast Market Size by Country
āā14.7.1 Brazil
āā14.7.2 Argentina
āā14.7.3 Rest of SA
Chapter 15 Investment Analysis
Chapter 16 Analyst Viewpoint and Conclusion
Aerospace Materials Market |
|||
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 19.74Bn. |
Forecast Period 2022-28 CAGR: |
6.85% |
Market Size in 2032: |
USD 35.84 Bn. |
Segments Covered: |
By Type |
|
|
By Aircraft Type |
|
||
By Application |
|
||
By Region |
|
||
Key Market Drivers: |
|
||
Key Market Restraints: |
|
||
Key Opportunities: |
|
||
Companies Covered in the report: |
|
Frequently Asked Questions :
The forecast period in the Aerospace Materials Market research report is 2024-2032.
Toray Industries, Inc. (Japan), Solvay S.A. (Belgium), DuPont de Nemours, Inc. (US), Alcoa Corporation (US), Teijin Limited (Japan), Allegheny Technologies Incorporated (US), Constellium SE (France), Kobe Steel, Ltd. (Japan), AMG N.V. (Netherlands), NOVELIS (US), Hexcel (US). and other major players.
The Aerospace Materials Market is segmented into Type, Aircraft Type, Application, and region. By Type, the market is categorized into Steel Alloys, Titanium Alloys, Aluminum Alloys, Super Alloys, Plastics, and Others. By Aircraft Type the market is categorized into Commercial Aircraft, Business & General Aviation, Military Aircraft, Helicopters, Rotorcrafts, and Others. By Application, the market is categorized into Structural Frames, Cabin Interiors, Propulsion systems, and Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Aerospace materials are referred to as the materials which are utilized by the aircraft OEMs & component producers for creating various aircraft parts. The materials applied in airplane design have been constantly developing. Prior flights were primarily built of spruce and ash wood with muslin covering the wings, while today's airliners are produced mostly of aluminium with some structures made from steel.
The Global Aerospace Materials market was valued at USD 19.74 billion in 2023 and is expected to reach USD 35.84 billion by the year 2032, at a CAGR of 6.85%