HOME Top Market Reports Aerospace Materials Market by Type (Aluminium Alloys, Steel Alloys, Titanium Alloys, Super Alloys, and Composite Materials), Aircraft Type (Commercial Aircraft, Business & General Aviation, Helicopters), and Region - Global Forecast to 2022

Aerospace Materials Market by Type (Aluminium Alloys, Steel Alloys, Titanium Alloys, Super Alloys, and Composite Materials), Aircraft Type (Commercial Aircraft, Business & General Aviation, Helicopters), and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: June 2017
Report Code: CH 3206

 

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The aerospace materials market is projected to reach USD 25.80 Billion by 2022, at a CAGR of 6.9% from 2017 to 2022. In this study, 2016 has been considered as the base year, and the forecast period is from 2017 to 2022. The growing demand for aerospace materials in Asia-Pacific, Europe, and North America, coupled with its increasing applications in the new generation aircraft and rising environmental concerns are expected to drive the aerospace materials market.

Objectives of the Study:

  • To define, segment, and forecast the aerospace materials market, in terms of both value and volume
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To analyze and forecast the market size of aerospace materials based on type and aircraft type
  • To forecast the market size with respect to five regions, namely, Asia-Pacific, Europe, North America, Middle East & Africa, and South America
  • To analyze competitive developments such as expansions, new product developments, joint ventures & partnerships, and mergers & acquisitions in the aerospace materials market
  • To strategically identify and profile the key players as well as to analyze their core competencies* in the aerospace materials market

This research study used extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg BusinessWeek, and Factiva to identify and collect information useful for this technical, market-oriented, and commercial study of the aerospace materials market. Primary sources are mainly several industry experts from core and related industries, and preferred suppliers, manufacturers, distributors, service providers, and organizations related to all segments of the industry’s supply chain. The bottom-up approach was used to estimate the global market size of aerospace materials based on type, aircraft type, and region, in terms of value and volume. The bottom-up approach was implemented to validate the market size, in terms of value. With the data triangulation procedure and validation of data through primary interviews, the exact values of the overall parent market, and individual market sizes were determined and confirmed in this study.

Aerospace Material Market

To know about the assumptions considered for the study, download the pdf brochure

The aerospace materials market has a diversified and established ecosystem of its upstream players such as raw material suppliers, and downstream stakeholders such as OEM’s, aircraft manufacturers, end users, and government organizations.

This study answers several questions for the stakeholders, primarily which market segments they should focus upon during the next two to five years to prioritize their efforts and investments. These stakeholders include aerospace materials manufacturers such as Toray Industries, Inc. (Japan), Cytec Solvay group (Belgium), Alcoa Corporation (U.S.), Du Pont (U.S.), Teijin Ltd. (Japan), Kobe Steel Ltd (Japan), and others.

Target Audience:

  • Aerospace Materials Manufacturers
  • Aerospace Materials Traders, Distributors, and Suppliers
  • Aerospace OEM Manufacturers
  • End Users
  • Government and Research Organizations
  • Associations and Industrial Bodies
  • Research and Consulting Firms
  • R&D Institutions
  • Environment support agencies
  • Investment banks and private equity firms

Scope of the Report:

This research report categorizes the aerospace materials market based on type, aircraft type, and region, and forecasts revenue growth and provides an analysis of trends in each of the submarkets.

Based on Type:

  • Aluminum Alloys
  • Steel Alloys
  • Titanium Alloys
  • Super Alloys
  • Composite Materials
  • Others

Based on Aircraft Type:

  • Military Aircraft
  • Commercial Aircraft
  • Helicopters
  • Business & General Aviation
  • Others

Based on Region:

  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Rest of Asia-Pacific
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Western Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Rest of Western Europe
    • Central & Eastern Europe
      • Russia
      • Turkey
      • Rest of Central & Eastern Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • Israel
    • UAE
    • Rest of Middle East & Africa

These segments are further described in detail with their subsegments in the report, with value and volume forecast till 2022.

Available Customizations: The following customization options are available for the report:

  1. Company Information

Analysis and profiles of additional global as well as regional market players (Up to three)

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Limitation
    1.7 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 29)
    4.1 Attractive Opportunities in the Aerospace Materials Market
    4.2 Aerospace Materials Market, By Aircraft Type
    4.3 Aerospace Materials Market Share, By Region and Type
    4.4 Aerospace Materials Market Attractiveness

5 Market Overview (Page No. - 33)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Demand for Lightweight and More Efficient Aircraft
                    5.2.1.2 Increasing Passenger Transportation Due to Affordable Carriers in the Emerging Regions
           5.2.2 Restraints
                    5.2.2.1 Reduced Defense Spending in Developed Economies
                    5.2.2.2 Limited Range of Material Options Owing to Complex Requirements
           5.2.3 Opportunities
                    5.2.3.1 Growing Demand for Commercial Aircraft
           5.2.4 Challenges
                    5.2.4.1 Costly Maintenance, Repair, and Overhaul Services Owing to the Regulatory Standards
    5.3 Porter’s Five Forces Analysis
           5.3.1 Bargaining Power of Suppliers
           5.3.2  Threat of New Entrants
           5.3.3 Threat of Substitutes
           5.3.4 Bargaining Power of Buyers
           5.3.5 Intensity of Competitive Rivalry

6 Aerospace Materials Market, By Type (Page No. - 40)
    6.1 Introduction
    6.2 Revenue Pocket Matrix, By Type
    6.3 Aluminum Alloys
    6.4 Steel Alloys
    6.5 Titanium Alloys
    6.6 Super Alloys
    6.7 Composite Materials
    6.8 Others

7 Aerospace Materials Market, By Aircraft Type (Page No. - 52)
    7.1 Introduction
    7.2 Market Size & Forecast
    7.3 Commercial Aircraft
    7.4 Military Aircraft
    7.5 Business & General Aviation (BGA)
    7.6 Helicopters
    7.7 Other Aircraft Types

8 Aerospace Materials Market, By Region (Page No. - 63)
    8.1 Introduction
    8.2 Asia-Pacific
           8.2.1 China
           8.2.2 Japan
           8.2.3 India
           8.2.4 South Korea
           8.2.5 Indonesia
           8.2.6 Rest of Asia-Pacific
    8.3 Europe
           8.3.1 Western Europe
                    8.3.1.1 Germany
                    8.3.1.2 France
                    8.3.1.3 U.K.
                    8.3.1.4 Italy
                    8.3.1.5 Rest of Western Europe
           8.3.2 Central & Eastern Europe
                    8.3.2.1 Russia
                    8.3.2.2 Turkey
                    8.3.2.3 Rest of Central & Eastern Europe
    8.4 North America
           8.4.1 U.S.
           8.4.2 Canada
           8.4.3 Mexico
    8.5 South America
           8.5.1 Brazil
           8.5.2 Argentina
           8.5.3 Rest of South America
    8.6 Middle East & Africa
           8.6.1 Israel
           8.6.2 UAE
           8.6.3 Rest of Middle East & Africa

9 Dive, Aerospace Materials Market (Page No. - 103)
    9.1 Introduction
           9.1.1 Dynamic
           9.1.2 Innovators
           9.1.3 Vanguards
           9.1.4 Emerging
    9.2 Overview
    9.3 Product Offerings
    9.4 Business Strategy

10 Company Profiles (Page No. - 107)
(Overview, Financial*, Products & Services, Strategy, and Developments)
     10.1 Toray Industries, Inc.
     10.2 Cytec Solvay Group.
     10.3 Du Pont
     10.4 Alcoa Corporation.
     10.5 Teijin Limited
     10.6 ATI Metals.
     10.7 Constellium N.V
     10.8 Kobe Steel Limited
     10.9 Aleris
     10.10 AMG N.V
     10.11 Additional Company Profiles
             10.11.1 Hexcel Corporation
             10.11.2 Koninklijke Ten Cate NV
             10.11.3 Materion Corporation
             10.11.4 Sofitec
             10.11.5 Thyssenkrupp Aerospace
             10.11.6 AMI Metals, Inc.
             10.11.7 Tata Advanced Materials Limited
             10.11.8 Hindalco-Almex Aerospace Limited
             10.11.9 Renegade Materials Corporation
             10.11.10 LEE Aerospace Inc.
             10.11.11 Park Electrochemical Corporation.
             10.11.12 Avdel Private Limited
             10.11.13 SGL Group
             10.11.14 Kaiser Aluminum
             10.11.15 Vsmpo-Avisma Corporation

*Details Might Not Be Captured in Case of Unlisted Companies.

11 Appendix (Page No. - 143)
     11.1 Discussion Guide
     11.2 Knowledge Store: Marketsandmarkets Subscription Portal
     11.3 Introducing RT: Real-Time Market Intelligence
     11.4 Available Customizations
     11.5 Related Reports
     11.6 Author Details


List of Tables (94 Tables)

Table 1 Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 2 Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 3 Aluminum Alloys Market Size, By Region, 2015–2022 (USD Million)
Table 4 Aluminum Alloys Market Size, By Region, 2015–2022 (Kiloton)
Table 5 Steel Alloys Market Size, By Region, 2015–2022 (USD Million)
Table 6 Steel Alloys Market Size, By Region, 2015–2022 (Kiloton)
Table 7 Titanium Alloys Market Size, By Region, 2015–2022 (USD Million)
Table 8 Titanium Alloys Market Size, By Region, 2015–2022 (Kiloton)
Table 9 Super Alloys Market Size, By Region, 2015–2022 (USD Million)
Table 10 Super Alloys Market Size, By Region, 2015–2022 (Kiloton)
Table 11 Composite Materials Market Size, By Region, 2015–2022 (USD Million)
Table 12 Composite Materials Market Size, By Region, 2015–2022 (Kiloton)
Table 13 Others Market Size, By Region, 2015–2022 (USD Million)
Table 14 Others Market Size, By Region, 2015–2022 (Kiloton)
Table 15 Aerospace Materials Market Size, By Aircraft Type, 2015–2022 (USD Million)
Table 16 Aerospace Materials Market Size, By Aircraft Type, 2015–2022 (Kiloton)
Table 17 Aerospace Materials Market Size in Commercial Aircraft, By Type, 2015–2022 (USD Million)
Table 18 Aerospace Materials Market Size in Commercial Aircraft, By Type, 2015–2022 (Kiloton)
Table 19 Aerospace Materials Market Size in Military Aircraft, By Type, 2015–2022 (USD Million)
Table 20 Aerospace Materials Market Size in Military Aircraft, By Type, 2015–2022 (Kiloton)
Table 21 Aerospace Materials Market Size in Business & General Aviation, By Type, 2015–2022 (USD Million)
Table 22 Aerospace Materials Market Size in Business & General Aviation, By Type, 2015–2022 (Kiloton)
Table 23 Aerospace Materials Market Size in Helicopters, By Type, 2015–2022 (USD Million)
Table 24 Aerospace Materials Market Size in Helicopters, By Type, 2015–2022 (Kiloton)
Table 25 Aerospace Materials Market Size in Other Aircraft Types, By Type, 2015–2022 (USD Million)
Table 26 Aerospace Materials Market Size in Other Aircraft Types, By Type, 2015–2022 (Kiloton)
Table 27 Aerospace Materials Market Size, By Region, 2015–2022 (USD Million)
Table 28 Aerospace Materials Market Size, By Region, 2015–2022 (Kiloton)
Table 29 Asia-Pacific: Aerospace Materials Market Size, By Country, 2015–2022 (USD Million)
Table 30 Asia-Pacific: Aerospace Materials Market Size, By Country, 2015–2022 (Kiloton)
Table 31 Asia-Pacific: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 32 Asia-Pacific: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 33 China: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 34 China: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 35 Japan: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 36 Japan: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 37 India: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 38 India: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 39 South Korea: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 40 South Korea: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 41 Indonesia: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 42 Indonesia: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 43 Rest of Asia-Pacific: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 44 Rest of Asia-Pacific: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 45 Europe: Aerospace Materials Market Size, By Country, 2015–2022 (USD Million)
Table 46 Europe: Aerospace Materials Market Size, By Country, 2015–2022 (Kiloton)
Table 47 Europe: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 48 Europe: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 49 Germany: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 50 Germany: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 51 France: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 52 France: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 53 U.K.: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 54 U.K.: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 55 Italy: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 56 Italy: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 57 Rest of Western Europe: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 58 Rest of Western Europe: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 59 Russia: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 60 Russia: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 61 Turkey: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 62 Turkey: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 63 Rest of Central & Eastern Europe: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 64 Rest of Central & Eastern Europe: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 65 North America: Aerospace Materials Market Size, By Country, 2015–2022 (USD Million)
Table 66 North America: Aerospace Materials Market Size, By Country, 2015–2022 (Kiloton)
Table 67 North America: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 68 North America: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 69 U.S.: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 70 U.S.: Aerospace Materials Market Size, By Type 2015–2022 (Kiloton)
Table 71 Canada: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 72 Canada: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 73 Mexico: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 74 Mexico: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 75 South America: Aerospace Materials Market Size, By Country, 2015–2022 (USD Million)
Table 76 South America: Aerospace Materials Market Size, By Country, 2015–2022 (Kiloton)
Table 77 South America: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 78 South America: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 79 Brazil: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 80 Brazil: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 81 Argentina: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 82 Argentina: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 83 Rest of South America: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 84 Rest of South America: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 85 Middle East & Africa: Aerospace Materials Market Size, By Country, 2015–2022 (USD Million)
Table 86 Middle East & Africa: Aerospace Materials Market Size, By Country, 2015–2022 (Kiloton)
Table 87 Middle East & Africa: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 88 Middle East & Africa: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 89 Israel: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 90 Israel: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 91 UAE: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 92 UAE: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)
Table 93 Rest of Middle East & Africa: Aerospace Materials Market Size, By Type, 2015–2022 (USD Million)
Table 94 Rest of Middle East & Africa: Aerospace Materials Market Size, By Type, 2015–2022 (Kiloton)


List of Figures (52 Figures)

Figure 1 Aerospace Materials Market: Market Segmentation
Figure 2 Aerospace Materials Market: Research Design
Figure 3 Key Data From Secondary Sources
Figure 4 Key Data From Primary Sources
Figure 5 Key Industry Insights
Figure 6 Breakdown of Primary Interviews
Figure 7 Market Size Estimation: Bottom-Up Approach
Figure 8 Market Size Estimation: Top-Down Approach
Figure 9 Aerospace Materials Market: Data Triangulation
Figure 10 Research Assumptions
Figure 11 Titanium Alloys Dominated the Aerospace Materials Market in 2016
Figure 12 Commercial Aircraft to Dominate the Aerospace Materials Market Between 2017 and 2022
Figure 13 Composite Materials to Be the Fastest-Growing Segment in the Aerospace Materials Market Between 2017 and 2022
Figure 14 North America Dominated the Aerospace Materials Market in 2016
Figure 15 Aerospace Materials Market to Witness Healthy Growth During the Forecast Period
Figure 16 Business & General Aviation to Be the Fastest-Growing Segment Between 2017 and 2022
Figure 17 North America Accounted for the Largest Share (Value) of the Global Aerospace Materials Market in 2016
Figure 18 Aerospace Materials Market to Register High Growth in Asia-Pacific Between 2017 and 2022
Figure 19 Factors Governing the Aerospace Materials Market Growth
Figure 20 Impact Analysis
Figure 21 Porter’s Five Forces Analysis for Aerospace Materials Market
Figure 22 Composite Materials to Be the Fastest-Growing Segment of the Aerospace Materials Market, 2017–2022
Figure 23 Composite Materials to Be the Fastest-Growing Type of Aerospace Materials Between 2017 and 2022
Figure 24 North America to Be the Largest Market for Aluminum Alloys Between 2017 and 2022
Figure 25 Asia-Pacific to Be the Fastest-Growing Market Forsteel Alloys During the Forecast Period
Figure 26 Asia-Pacific to Be the Fastest-Growing Market for Titanium Alloys Between 2017 and 2022
Figure 27 North America to Be the Largest Market for Super Alloys Between 2017 and 2022
Figure 28 Asia-Pacific to Be the Fastest-Growing Market for Compositematerials Between 2017 and 2022
Figure 29 Europe to Be the Largest Market for Other Aerospace Materials, 2017–2022
Figure 30 Different Types of Aircraft
Figure 31 Commercial Aircraft Type to Be the Largest Segment in the Aerospace Materials Market Between 2017 and 2022
Figure 32 Composite Materials to Be the Fastest-Growing Type Used in the Commercial Aircraft Segment During the Forecast Period
Figure 33 Composite Materials to Be the Fastest-Growing Aerospace Material in the Military Aircraft Segment During the Forecast Period
Figure 34 Titanium Alloys to Be the Largest Segment for Aerospace Materials in Business & General Aviation Segment During the Forecast Period
Figure 35 Aluminium Alloys to Be the Largest Segment for Aerospace Materials in Helicopters During the Forecast Period
Figure 36 Titanium Alloys to Be the Largest Segment for Aerospace Materials in Other Aircraft Types During the Forecast Period
Figure 37 Regional Snapshot: India to Emerge as the Fastest-Growing Market During the Forecast Period
Figure 38 Asia-Pacific Market Snapshot: India to Be Fastest-Growing Market, 2017-2022
Figure 39 Europe Market Snapshot: France to Be Largest Market, in Terms of Value, During Forecast Period
Figure 40 North American Market Snapshot: Mexico to Be the Fastest-Growing Market, 2017–2022
Figure 41 South America Aerospace Materials Market Snapshot: Brazil to Be the Largest Market
Figure 42 Middle East & Africa Market Snapshot 2017–2022
Figure 43 Dive Chart
Figure 44 Toray Industries, Inc.: Company Snapshot
Figure 45 Cytec Solvay Group: Company Snapshot
Figure 46 Du Pont: Company Snapshot
Figure 47 Alcoa Corporation: Company Snapshot
Figure 48 Teijin Limited: Company Snapshot
Figure 49 ATI Metals: Company Snapshot
Figure 50 Constellium N.V: Company Snapshot
Figure 51 Kobe Steel Limited: Company Snapshot
Figure 52 AMG N.V: Company Snapshot

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 aluminum 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 aluminum 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 aluminum alloys will continue to be the important aerospace materials for the aircraft industry.

Based on aircraft type, the commercial aircraft segment is projected to lead the aerospace materials market from 2017 to 2022. Increasing passenger transport, coupled with an increase in demand for commercial aircraft is expected to propel the aerospace materials market for the commercial aircraft segment during the forecast period.

North America dominated the aerospace materials market in 2016 and is expected to continue its dominance during the forecast period. The U.S. is the major consumer of aerospace materials and the demand for aerospace materials is expected to increase during the forecast period in North America. The high demand for aerospace materials is primarily due to the presence of top aircraft manufacturers such as Boeing, Lockheed Martin, and others in the region.

Aerospace Material Market

Though the aerospace materials market is growing at a significant rate, few factors hinder the growth of the market globally. The global defense expenditure is declining due to defense budget reductions by key defense spending nations. The declaration of the reduction in the defense spending till 2022 by the U.S. government has impacted the global defense equipment manufacturer’s market; especially the military aircraft manufactures market, which will further impact the aerospace materials market.

Companies such as Toray Industries, Inc. (Japan), Alcoa Corporation (U.S.), Cytec Solvay Group (Belgium), Du Pont (U.S.), Teijin Limited (Japan), ATI Metals (U.S.), and Constellium N.V. (Netherlands) are the leading players in the aerospace materials market. These companies have adopted various organic and inorganic growth strategies such as expansions, mergers & acquisitions, and new product developments to enhance their market shares.

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