Aerospace Materials Global Market 2024 - By Share, Growth Trends, Business Opportunities, Strategies, Top Companies, End User Analysis And Forecast To 2033

 

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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