The Aerospace Materials by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Aerospace Materials, The aerospace materials market size has grown strongly in recent years. It will grow from $22.6 billion in 2023 to $24.57 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increased demand for air travel and increasing military spending..
The aerospace materials market size is expected to see strong growth in the next few years. It will grow to $33.93 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to increasing use of lightweight materials, rising government support, increased commercial aircraft deliveries and rapid urbanization. Major trends in the forecast period include innovative products with focus on structural film adhesives, focus on advanced materials with improved strength and performance, advancing aerospace materials with 3d printing, focus on investments in production capacities and strategic partnerships and collaborations among market players to improve product portfolio..
The increasing use of lightweight materials is expected to increase the growth of the aerospace materials market. The use of lightweight materials emphasizes the importance of selecting the right aerospace materials for specific applications. The materials used in aircraft must be able to withstand harsh conditions, such as atmospheric forces, temperature extremes and ultraviolet rays. For example, in March 2023, Jamco Corporation, a Japan-based aircraft engines and engine parts company, highlighted its Venture Premium Class Seat, designed with sustainability in mind, while minimizing operational costs for airlines. Jamco’s Venture seat is made with a high amount of recycled material, is lighter than traditional seats, is easy to install and requires less overall maintenance. Therefore, the increasing use of lightweight materials will support the growth of the aerospace materials market.
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The aerospace materials market covered in this report is segmented –
1) By Type: Aluminum Alloys, Steel Alloys, Titanium Alloys, Super Alloys, Composites, Other Types
2) By Aircraft Type: Commercial Aircraft, Business and General Aviation, Civil Helicopters, Military, Other Aircraft Types
3) By Application: Interior, Exterior
Top Major Players
Allegheny Technologies Incorporated
Arconic Corporation
Constellium SE
Hexcel Corporation
Solvay SA
The development of carbon fiber composites for making various aerospace structures and parts is an emerging trend in the aerospace materials market. Carbon fiber is a material composed of carbon atoms arranged in long, thin crystals that can be molded with epoxy into practically any shape, even designs that are impossible to achieve with metals or without welding many sections together and creating weak points. Due to the lightweight, durable, corrosion-resistant, and temperature-resistant properties of carbon fiber, manufacturers of aerospace materials are focused on developing carbon fiber structures for various aerospace applications. For instance, in August 2021, Markforged, a US-based additive manufacturing company specializing in the development and manufacturing of digital forge, launched Onyx FR-A and Carbon Fiber FR-A based on fiber reinforcement technology. These two materials are lightweight, efficient to reduce fuel consumption and improve engine performance, and used in various parts of aircraft interiors.
The aerospace materials market report table of contents includes:
1. Executive Summary
2. Aerospace Materials Market Characteristics
3. Aerospace Materials Market Trends And Strategies
4. Aerospace Materials Market - Macro Economic Scenario
5. Global Aerospace Materials Market Size and Growth
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32. Global Aerospace Materials Market Competitive Benchmarking
33. Global Aerospace Materials Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Aerospace Materials Market
35. Aerospace Materials Market Future Outlook and Potential Analysis
36. Appendix
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The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities & restraints, and detailed information about the market structure.
Aerospace Materials Market study presents exclusive information about how the market will grow during the forecast period.Global aerospace materials market is registering a steady CAGR of 7.30% in the forecast period of 2019-2026.
The report contains data of the base year 2018 and historic year 2017For In-Depth Review | Get Sample PDF@ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-aerospace-materials-marketMarket Definition: Global Aerospace Materials MarketAerospace materials are usually metal alloys which have acquired popularity for the aerospace sector or have been created.
These materials should have strength, thermal resistance, and light weight characteristics.
In addition, strength to prevent corrosion and fatigue resistance is the characteristics that these materials must have.Top Competitors of MarketFew of the major competitors currently working in the global aerospace materials market are Alcoa Corporation, Aleris Corporation, AMG Advanced Metallurgical Group, AMI Metals, Air Transport International, Inc., Avdel, Constellium, Solvay, DOW, Hexcel Corporation, Hindalco - Almex Aerospace Limited, Kaiser Aluminum, KOBE STEEL, LTD, Koninklijke Ten Cate bv., Lee Aerospace, Materion Corporation, PARK AEROSPACE CORP, Renegade Materials Corporation, SGL Carbon, TATA Advanced Materials Limited., Sofitec Aero, S.L.Competitive Analysis:Global aerospace materials market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
The report includes market shares of aerospace materials market for Global, Europe, North America, Asia-Pacific, South America and Middle East & AfricaWant Full Report?
