logo
logo
Sign in

Reduced Defense Spending in Developed Economies is restraining Aerospace Materials Market

avatar
Rohna Patnakar
Reduced Defense Spending in Developed Economies is restraining Aerospace Materials Market

The global aerospace materials market is projected to reach USD 25.80 Billion by 2022, at a CAGR of 6.9% from 2017 to 2022. Increased passenger transportation is projected to enhance the aircraft production industry, which will further drive the demand for aerospace materials.

Based on type, the aluminium alloys segment is expected to lead the aerospace materials market during the forecast period. Increasing demand from aircraft production industry is resulting to an increase in the consumption of aerospace materials globally. The share of aluminium alloys in the aerospace materials is expected to decline in future owing to the increasing use of composite materials. However, high-strength and low fatigue aluminium alloys will continue to be the important aerospace materials for the aircraft industry.

Request Report Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=266342713

Composite materials are the most preferred type of aerospace materials.

Composite materials is the most extensively used type segment of the aerospace materials after aluminium. Composite materials are formed by combining two or more distinct materials to achieve superior properties, of which one is a binding material, known as the matrix and the other is a reinforcement material, generally a fiber. The wide use of composites in aerospace materials offer several advantages over traditional materials, such as low weight, increased manufacturing productivity (processing speeds), lower VOC emissions, and better corrosion resistance, among others. Increasing applications in new generation aircraft and rising environmental concerns offer significant growth opportunities for composites in the aircraft manufacturing industry.

Based on aircraft type, the business & general aviation is the fastest-growing segment in the aerospace materials market.

The business & general aviation segment is projected to lead the aerospace materials market from 2017 to 2022. The BGA segment involves the use of aircraft by high net worth individuals (HNIs) or for chartered flights for business trips. This segment is the second-largest consumer of aerospace materials after commercial and military aviation. The major growth factors for this segment are the increasing number of HNIs in emerging regions and growing demand for business jets in Asia-Pacific and the Middle East. According to Honeywell Aerospace (U.S.) and Bombardier Inc. (Canada), approximately 9,300 business jets worth USD 270 billion will be added to the global aircraft fleet by 2024. Thus, the increasing number of airplane deliveries is expected to drive the growth of aerospace materials market in this segment.

 

Read More At https://www.marketsandmarkets.com/ResearchInsight/aerospace-materials-market.asp

 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

 

Contact MarketsandMarkets™:
Mr. Ashish Mehra
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA: 1-888-600-6441 
[email protected]

 

collect
0
avatar
Rohna Patnakar
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more