Aerospace Materials Market

Aerospace Materials Market worth $57.9 billion by 2026

The report "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 2026", size is estimated to be USD 37.9  billion in 2021 and is projected to reach USD 57.9  billion by 2026, at a CAGR of 8.8% between 2021 and 2026. The market is growing due to the increase in the demand for high-performance materials, with properties such as low weight, high strength-to-weight ratio, good tensile strength, and electrical conductivity in commercial aircrafts.

Browse 237 market data Tables and 47 Figures spread through 250 Pages and in-depth TOC on "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 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/aerospace-materials-market-266342713.html

Aluminum alloys accounted for the largest share in terms of volume and composite materials accounted for the largest share in terms of value in the global aerospace materials market.

All modern aircraft manufacturers use aluminum alloys for producing fuselage, wings, and other parts of an aircraft. Aluminum and its alloys are preferred in aircraft manufacturing over steel and iron due to the former’s properties such as high strength, corrosion resistance, heat resistance, and lighter weight. Various types of aluminum alloys are manufactured using aluminum, zinc, magnesium, and copper for various applications in the aerospace industry. The increasing applications of composites in the new generation aircraft and rising environmental concerns offer significant growth opportunities for composites in the aircraft manufacturing industry.

With the outbreak of COVID-19, there is a reduced demand for aerospace materials due to reduced aircraft production. This has resulted in a huge drop in material

Commercial aircraft segment accounted for the largest share in the global aerospace materials market in terms of value and volume.

Commercial aircraft segment holds the largest share in the global aerospace materials market. This dominance is attributed to its large-scale use us materials in airplane construction. The growing demand for newer aircrafts from emerging economies especially in China and India is driving the demand for aerospace materials. Boing and Airbus are the two major commercial aircraft manufacturers who drive the demand for aerospace materials.

The reduced demand for new commercial and business aircraft from the aviation industry due to the COVID-19 slowdown has resulted in a decline in the need for aerospace materials. For instance, in 2020 the commercial aircraft deliveries have fallen by 47% as compared with 2019.

Europe is expected to account for the largest share in the aerospace materials market during the forecast period.

Europe accounted for the largest market share in the aerospace materials market due to high demand from commercial aircraft component manufacturers in the region. Moreover, it is home to many key aerospace material manufacturers, such as VSMPO, AMG N.V., SGL Carbon, Solvay, and TenCate. Increased deliveries of Airbus aircraft primarily drives the aerospace material demand in Europe. Apart from this, the region develops military aircraft and helicopters.  Germany, France and UK are major aerospace markets in the region, which drives the demand for aerospace materials. The European region is one of the worst affected by the COVID-19, resulting in decreased industrial and economic activities across all major countries such as Germany, France, the UK, Italy, and France. The European demand for aerospace manufacturing decreased by 43% in 2020, primarily driven by Airbus order deferrals.

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) and Hexcel (US) are key players in the aerospace materials market. The crucial strategies include investments & expansions, partnerships, new product launches, and mergers & acquisitions.

Don’t miss out on business opportunities in Aerospace Materials Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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

Report Code
CH 3206
PR Published ON
9/23/2021
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Aerospace Materials Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2021 MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

Home