The global aerospace materials market size is expected to reach USD 37.36 Billion at a CAGR of 6.3% in 2028, according to latest analysis by Emergen Research. Steady global aerospace materials market revenue growth rate can be attributed to rising focus on improving aircraft fuel-efficiency by light-weighting and use of more advanced materials and technologies. Aircraft manufacturers are making substantial investments and employing efforts to design and develop more lightweight aircraft following the concept of green aviation. Aviation accounts for 12% of CO2 emissions from all transports sources. Rising concerns and increasing initiatives to reduce various forms of environmental pollution and global warming are driving efforts to decrease aviation emissions by improving energy efficiency.
The latest report is inclusive of an extensive coverage of the significant impact of the COVID-19 pandemic on the Aerospace Materials business sector. The coronavirus outbreak has drastically impacted the global economic landscape, and consequently, this particular business vertical. Therefore, the report provides the reader with a clear concept of the current scenario of this business vertical, estimating its COVID-19 aftereffects.
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Some of the key players of the market analyzed in the report to offer a better understanding of the competitive landscape are Alcoa Corporation, Huntsman International LLC, DuPont, Constellium NV, Teijin Ltd., Kobe Steel Ltd., Solvay Ltd., Hexcel Corporation, SABIC, and Materion Corporation.
Aerospace Materials Market Segmentation
Emergen Research has segmented the global aerospace materials market on the basis of material type, application, aircraft type, and region:
Material Type Outlook (Revenue, USD Billion; 2018–2028)
Aluminum Alloys
Titanium Alloys
Steel Alloys
Super Alloys
Plastics
Composites
Others
Application Outlook (Revenue, USD Billion; 2018–2028)
Structural Frame
Cabin Interiors
Propulsion System
Others
Aircraft Type Outlook (Revenue, USD Billion; 2018–2028)
Commercial Aircraft
Military Aircraft
Rotorcrafts
General Business Aircraft
Spacecraft
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Some Key Highlights from the Report
In January 2021, Thyssenkrupp Aerospace signed into a three-year materials supply contract with South Korea’s, Korea Aerospace Industries (KAI). As per the agreement, Thyssenkrupp Aerospace will supply materials for military and civilian aircraft programs of KAI and manage supply chain.
Among the material type segments, titanium segment revenue is expected to expand at a significantly rapid rate over forecast period. Titanium alloys find extensive application in highly-loaded airframe sections, high Mach speed aircraft skin, undercarriage parts, fuselage, landing gear, jet engines, and various other aircraft parts and components that require fracture toughness, high strength, and resistance to fatigue. Also, titanium alloys are ideal for reducing weight of aircraft, while delivering a high strength-to-weight ratio.
Among the application segments, structural frame segment accounted for largest revenue share in 2020. Materials, such as aluminum are considered highly suitable for aircraft frame production, owing to lightweight and strength. Also, aerospace materials used in structural frames are lighter than steel and thus enable higher aircraft payload and improve fuel-efficiency. Also, aluminum is highly resistant to corrosion, thereby enhancing aircraft safety.
Key Features of the Report:
The report covers Aerospace Materials business overview, product portfolios, market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns
The report covers different business expansion strategies undertaken by prominent players to offer a better understanding of the competitive landscape
The report covers an extensive 8-year analysis of the Aerospace Materials market
Extensive analysis of the key elements like drivers, restraints, limitations, opportunities, and threats
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Major Geographies Analyzed in the Report:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
In conclusion, the report provides a qualitative and quantitative analysis of the Global Aerospace Materials market, including the global and regional analysis of the market. The study covers critical information and factual data about the Aerospace Materials market industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Aerospace Materials market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Aerospace Materials market industry.
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