Aerospace Materials Market Overview
The Global Aerospace Materials market was valued at USD 19.74 billion in 2023 and is expected to reach USD 35.84 billion by the year 2032, at a CAGR of 6.85%
Aerospace materials are referred to as the materials which are utilized by the aircraft OEMs & component producers for creating various aircraft parts. The materials applied in airplane design have been constantly developing. Prior flights were primarily built of spruce and ash wood with muslin covering the wings, while today's airliners are produced mostly of aluminum with some structure made from steel. Aluminum is thin, technically developed in terms of forming and alloying, and it is relatively cheap cost, especially when compared to other composites hence providing effective aerodynamic features to the airplane. Furthermore, materials such as titanium alloys, steel alloys, superalloys, aluminum alloys, and composite materials are utilized to manufacture aircraft. Composite materials in aerospace are applied primarily owing to they have higher strength to weight ratio than metals. Hence, they help inefficient application of fuel enable in declining harmful fuel emissions into the atmosphere. The different types of aerospace composites such as glass fiber reinforced plastics, carbon fiber reinforced plastics, metal matrix composites (MMC), aramid fiber composites, and ceramic matrix composites (CMC). Amidst the COVID-19 pandemic, the global market for Aerospace Materials is estimated to gain US$25.1 Billion by 2027, over the analysis period.
COVID-19 Impact on Aerospace Materials Market
The market was poorly influenced by COVID-19 in 2020. Due to the crisis and the lockdowns foisted to restraints the spread of the virus, passenger air-travel activities were temporarily shut down. Even after the lockdown ended, people were hesitant to travel frequently. As per the International Civil Aviation Organization (ICAO), the overall number of passengers globally bring down by 92% in April 2020, compared to the same month in 2019. In addition, international traffic was demolished by 98%. These factors declined the development of the aerospace industry, which, in turn, poorly impacted the demand for the Aerospace Materials market. Furthermore, the interruption in the supply chain resulting in delays or non-arrival of raw materials disrupted financial flows, and rising defection among production line workers have forced aerospace component manufacturers to operate at partial capacities.
Market Dynamics And Factors For The Aerospace Materials Market
Drivers:
Growth in the aerospace materials market is set to be accelerated mainly by the strongly rising commercial air travel demand. The demand for stronger, lighter, quieter operating, safer, fuel-efficient and lower emission aircraft is turning demand for next-generation materials in manufacturing. Some of the major factors turning growth in the market include the growth in the number of orders and deliveries for new and wide-bodied commercial aircraft, rising number of low-cost carriers, growing demand for lightweight and more fuel-efficient aircraft, and technological developments in composite materials. Low-cost carriers (LCCs) have proved to be strong competitors in the market, especially in the emerging countries of APAC and South America. More travelers are expected to fly more often in the MEA and APAC. Aircraft carriers such as Emirates (UAE), Qatar Airways (Qatar), and Etihad Airways (UAE) are among the biggest players in commercial aviation in the Middle East and carry the majority of passengers who travel between APAC and Europe. The number of people applying air transport is rising, driving the demand for larger airplanes. This demand will bring business opportunities to companies providing aerospace materials and other required components in the aircraft manufacturing industry.
Restraints:
The decline in the number of aircraft deliveries would directly affect the aerospace materials market. Since more than 80% of the utilization of composite material is in commercial aircraft, the decline in demand for composite owing to the reduced number of aircraft orders would poorly impact the aerospace materials market. For example, the grounding of Boeing 737MAX resulting from accidents suffered by the Malaysian and Ethiopian Airlines, recently, resulted in the cancellation of its orders. In the first quarter of 2020, Airbus and Boeing delivered 122 and 50 commercial aircraft worldwide, which is 22% and 66% less as compared with the first quarter of 2019.
Opportunities:
UAV (drone) applications in the military have matured, becoming a key asset in military organizations globally and creating business opportunities. Nevertheless, the civil and commercial market for UAVs is in its incipient phases with significant unrealized potential in a wide number of utilizations. Military expenditure for UAV technology is expected to increase as a total percentage of military budgets, providing growth opportunities to specialized drone producers and software developers.
Market Segmentation
Segmentation Analysis of Aerospace Materials Market:
Based on the Aircraft Type, the Commercial Aircraft segment is expected to record the maximum Aerospace Materials market share during the forecast period. General and commercial aircraft are utilized for various purposes, including civil aviation (both private and commercial) and passenger and freight transportation. The demand for aircraft is rising as air passengers are continuously growing in developing economies. As per the International Air Transport Association (IATA), the global air transport industry was valued at USD 838 billion in 2019. It gained over USD 419 billion in 2020, registering a decreasing rate of 50%. Honeywell projected that approximately 7,700 new aircraft deliveries may occur by 2028. Single-aisle aircraft are mainly utilized for commercial purposes. As per Boeing, 32,270 units of single-aisle aircraft (narrow-body aircraft) will be provided globally in the next 20 years, which may grow the demand for aerospace materials in the coming years. This rise will produce additional demand for newer aircraft resulting in aerospace materials demand.
Based on Type, the composite materials segment is expected to register the largest share of the Aerospace Materials market over the forecast period. Composites are increasingly being opted over traditional material for the production of a range of products for the simple reason that they combine properties of different constituent materials to offer more benefits and features to the end-users. Composite materials are thus turning the trend of one-piece designs, or fewer components in aircraft assembly. Man-made composite materials utilized in the aerospace industry mainly comprise carbon-fiber-reinforced plastic (CFRP) and glass-fiber-reinforced plastic (GFRP). CFRPs are the most applied composite materials in both functional and cabin components currently. Aircraft OEMs have started including considerable amounts of carbon composites even in single-aisle, long in-service passenger jets.
Based on the Application, the structural frames segment is expected to register the largest share for the Aerospace Materials market over the forecast period. Materials such as aluminum are compared very suitable for aircraft's frame owing to the lightweight and strength. In addition, aerospace materials utilized in structural frames are lighter than steel and hence enable higher aircraft payload and improved fuel efficiency. Also, materials such as aluminum are majorly resistant to corrosion thereby enhancing aircraft safety.
Regional Analysis of Aerospace Materials Market:
The North American region is expected to dominate the aerospace materials market over the forecast period. The US represents the maximum market for aerospace materials, primarily owing to significant research and development investments by the government in the aerospace sector, the presence of various major aircraft manufacturers such as Carpenter Technology Corporation (US), Allegheny Technologies Incorporated (US), ATI Metals (US), and others, also the adoption of different growth strategies, such as developments and mergers and accession by leading market participants.
Europe region has key aerospace materials manufacturers, such as Rio Tinto Group (UK), Solvay S.A. (Belgium), VSMPO-AVISMA Corporation (Russia), and others are helps to hasten the growth of the aerospace materials market. Raised deliveries of Airbus aircraft primarily turn the composites material demand in Europe. In addition, the region develops military aircraft and helicopters. The European region is one of the worst influenced by the COVID-19, resulting in declined industrial and economic activities across all major economies such as the UK, Germany, France, Italy, and France.
In Asia-Pacific, the region has been observing a significant increase in demand for new aircraft on account of the economic growth and growth in disposable income that has aided in the rapid increase in the number of air travelers and low-cost carriers, which is anticipated to turn growth in the regional market. As per Boeing, in 2019, over 25% of all air travel globally occurred within Asia. This value is forecast to change to 35% in the next two decades and to occupy the maximum share of intra-regional air travel globally. The Asia-Pacific region is estimated to obtain 17,390 deliveries of new airplanes in the next two decades, which may raise the total number of airplane fleets to 19,420. This may, in turn, raise the demand for the aerospace materials market in the coming years.
Players Covered in Aerospace Materials Market are :
- Carpenter Technology Corporation (US)
- Constellium SE (France)
- Rio Tinto Group (UK)
- Toray Industries Inc. (Japan)
- Alcoa Corporation (US)
- Teijin Limited (Japan)
- Hexcel Corporation (US)
- AMG N.V. (Netherlands)
- NOVELIS (US)
- Hexcel (US)
- Aleris Corporation (US)
- Arconic Inc. (the US)
- Allegheny Technologies Incorporated (US)
- ATI Metals (US)
- Kaiser Aluminum (US)
- VSMPO-AVISMA Corporation (Russia)
- Kobe Steel Ltd. (Japan)
- TIMET (Berkshire Hathaway Inc.) (US)
- DuPont de Nemours Inc. (the US)
- and others Major Players.
Key Industry Developments In The Aerospace Materials Market
- December 2023: Teijin Limited announced the production and sale of Tenax Carbon Fiber, made using sustainable acrylonitrile (AN) waste and leftover biomass materials. This innovative carbon fiber supported industries like aerospace by offering an eco-friendly solution without compromising performance. The development highlighted Teijin's commitment to sustainability and advancing green technologies for diverse industrial applications.
- June 2023: Toray Industries showcased its cutting-edge composite material solutions at the 2023 Paris Air Show, highlighting TORAYCA carbon fiber, thermoset materials, and thermoplastic composites. The company facilitated large-scale composite adoption in commercial and general aviation and advanced next-generation programs through innovative product launches, reaffirming its leadership in aerospace materials innovation.
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Type
3.2 By Aircraft Type
3.3 By Application
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: Aerospace Materials Market by Type
5.1 Aerospace Materials Market Overview Snapshot and Growth Engine
5.2 Aerospace Materials Market Overview
5.3 Steel Alloys
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Steel Alloys: Grographic Segmentation
5.4 Titanium Alloys
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size (2017-2032F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Titanium Alloys: Grographic Segmentation
5.5 Aluminium Alloys
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size (2017-2032F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Aluminium Alloys: Grographic Segmentation
5.6 Super Alloys
5.6.1 Introduction and Market Overview
5.6.2 Historic and Forecasted Market Size (2017-2032F)
5.6.3 Key Market Trends, Growth Factors and Opportunities
5.6.4 Super Alloys: Grographic Segmentation
5.7 Plastics
5.7.1 Introduction and Market Overview
5.7.2 Historic and Forecasted Market Size (2017-2032F)
5.7.3 Key Market Trends, Growth Factors and Opportunities
5.7.4 Plastics: Grographic Segmentation
5.8 Others
5.8.1 Introduction and Market Overview
5.8.2 Historic and Forecasted Market Size (2017-2032F)
5.8.3 Key Market Trends, Growth Factors and Opportunities
5.8.4 Others: Grographic Segmentation
Chapter 6: Aerospace Materials Market by Aircraft Type
6.1 Aerospace Materials Market Overview Snapshot and Growth Engine
6.2 Aerospace Materials Market Overview
6.3 Commercial Aircraft
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Commercial Aircraft: Grographic Segmentation
6.4 Business & General Aviation
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size (2017-2032F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Business & General Aviation: Grographic Segmentation
6.5 Military Aircraft
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size (2017-2032F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 Military Aircraft: Grographic Segmentation
6.6 Helicopters
6.6.1 Introduction and Market Overview
6.6.2 Historic and Forecasted Market Size (2017-2032F)
6.6.3 Key Market Trends, Growth Factors and Opportunities
6.6.4 Helicopters: Grographic Segmentation
6.7 Rotorcrafts
6.7.1 Introduction and Market Overview
6.7.2 Historic and Forecasted Market Size (2017-2032F)
6.7.3 Key Market Trends, Growth Factors and Opportunities
6.7.4 Rotorcrafts: Grographic Segmentation
6.8 Others
6.8.1 Introduction and Market Overview
6.8.2 Historic and Forecasted Market Size (2017-2032F)
6.8.3 Key Market Trends, Growth Factors and Opportunities
6.8.4 Others: Grographic Segmentation
Chapter 7: Aerospace Materials Market by Application
7.1 Aerospace Materials Market Overview Snapshot and Growth Engine
7.2 Aerospace Materials Market Overview
7.3 Structural Frames
7.3.1 Introduction and Market Overview
7.3.2 Historic and Forecasted Market Size (2017-2032F)
7.3.3 Key Market Trends, Growth Factors and Opportunities
7.3.4 Structural Frames: Grographic Segmentation
7.4 Cabin Interiors
7.4.1 Introduction and Market Overview
7.4.2 Historic and Forecasted Market Size (2017-2032F)
7.4.3 Key Market Trends, Growth Factors and Opportunities
7.4.4 Cabin Interiors: Grographic Segmentation
7.5 Propulsion System
7.5.1 Introduction and Market Overview
7.5.2 Historic and Forecasted Market Size (2017-2032F)
7.5.3 Key Market Trends, Growth Factors and Opportunities
7.5.4 Propulsion System: Grographic Segmentation
7.6 Others
7.6.1 Introduction and Market Overview
7.6.2 Historic and Forecasted Market Size (2017-2032F)
7.6.3 Key Market Trends, Growth Factors and Opportunities
7.6.4 Others: Grographic Segmentation
Chapter 8: Company Profiles and Competitive Analysis
8.1 Competitive Landscape
8.1.1 Competitive Positioning
8.1.2 Aerospace Materials Sales and Market Share By Players
8.1.3 Industry BCG Matrix
8.1.4 Ansoff Matrix
8.1.5 Aerospace Materials Industry Concentration Ratio (CR5 and HHI)
8.1.6 Top 5 Aerospace Materials Players Market Share
8.1.7 Mergers and Acquisitions
8.1.8 Business Strategies By Top Players
8.2 CARPENTER TECHNOLOGY CORPORATION
8.2.1 Company Overview
8.2.2 Key Executives
8.2.3 Company Snapshot
8.2.4 Operating Business Segments
8.2.5 Product Portfolio
8.2.6 Business Performance
8.2.7 Key Strategic Moves and Recent Developments
8.2.8 SWOT Analysis
8.3 CONSTELLIUM SE
8.4 RIO TINTO GROUP
8.5 TORAY INDUSTRIES INC.
8.6 ALCOA CORPORATION
8.7 TEIJIN LIMITED
8.8 HEXCEL CORPORATION
8.9 AMG N.V.
8.10 NOVELIS
8.11 HEXCEL
8.12 ALERIS CORPORATION
8.13 ARCONIC INC.
8.14 ALLEGHENY TECHNOLOGIES INCORPORATED
8.15 ATI METALS
8.16 KAISER ALUMINUM
8.17 VSMPO-AVISMA CORPORATION
8.18 KOBE STEEL LTD.
8.19 TIMET (BERKSHIRE HATHAWAY INC.)
8.20 DUPONT DE NEMOURS INC.
8.21 OTHER MAJOR PLAYERS
Chapter 9: Global Aerospace Materials Market Analysis, Insights and Forecast, 2017-2032
9.1 Market Overview
9.2 Historic and Forecasted Market Size By Type
9.2.1 Steel Alloys
9.2.2 Titanium Alloys
9.2.3 Aluminium Alloys
9.2.4 Super Alloys
9.2.5 Plastics
9.2.6 Others
9.3 Historic and Forecasted Market Size By Aircraft Type
9.3.1 Commercial Aircraft
9.3.2 Business & General Aviation
9.3.3 Military Aircraft
9.3.4 Helicopters
9.3.5 Rotorcrafts
9.3.6 Others
9.4 Historic and Forecasted Market Size By Application
9.4.1 Structural Frames
9.4.2 Cabin Interiors
9.4.3 Propulsion System
9.4.4 Others
Chapter 10: North America Aerospace Materials Market Analysis, Insights and Forecast, 2017-2032
10.1 Key Market Trends, Growth Factors and Opportunities
10.2 Impact of Covid-19
10.3 Key Players
10.4 Key Market Trends, Growth Factors and Opportunities
10.4 Historic and Forecasted Market Size By Type
10.4.1 Steel Alloys
10.4.2 Titanium Alloys
10.4.3 Aluminium Alloys
10.4.4 Super Alloys
10.4.5 Plastics
10.4.6 Others
10.5 Historic and Forecasted Market Size By Aircraft Type
10.5.1 Commercial Aircraft
10.5.2 Business & General Aviation
10.5.3 Military Aircraft
10.5.4 Helicopters
10.5.5 Rotorcrafts
10.5.6 Others
10.6 Historic and Forecasted Market Size By Application
10.6.1 Structural Frames
10.6.2 Cabin Interiors
10.6.3 Propulsion System
10.6.4 Others
10.7 Historic and Forecast Market Size by Country
10.7.1 U.S.
10.7.2 Canada
10.7.3 Mexico
Chapter 11: Europe Aerospace Materials Market Analysis, Insights and Forecast, 2017-2032
11.1 Key Market Trends, Growth Factors and Opportunities
11.2 Impact of Covid-19
11.3 Key Players
11.4 Key Market Trends, Growth Factors and Opportunities
11.4 Historic and Forecasted Market Size By Type
11.4.1 Steel Alloys
11.4.2 Titanium Alloys
11.4.3 Aluminium Alloys
11.4.4 Super Alloys
11.4.5 Plastics
11.4.6 Others
11.5 Historic and Forecasted Market Size By Aircraft Type
11.5.1 Commercial Aircraft
11.5.2 Business & General Aviation
11.5.3 Military Aircraft
11.5.4 Helicopters
11.5.5 Rotorcrafts
11.5.6 Others
11.6 Historic and Forecasted Market Size By Application
11.6.1 Structural Frames
11.6.2 Cabin Interiors
11.6.3 Propulsion System
11.6.4 Others
11.7 Historic and Forecast Market Size by Country
11.7.1 Germany
11.7.2 U.K.
11.7.3 France
11.7.4 Italy
11.7.5 Russia
11.7.6 Spain
11.7.7 Rest of Europe
Chapter 12: Asia-Pacific Aerospace Materials Market Analysis, Insights and Forecast, 2017-2032
12.1 Key Market Trends, Growth Factors and Opportunities
12.2 Impact of Covid-19
12.3 Key Players
12.4 Key Market Trends, Growth Factors and Opportunities
12.4 Historic and Forecasted Market Size By Type
12.4.1 Steel Alloys
12.4.2 Titanium Alloys
12.4.3 Aluminium Alloys
12.4.4 Super Alloys
12.4.5 Plastics
12.4.6 Others
12.5 Historic and Forecasted Market Size By Aircraft Type
12.5.1 Commercial Aircraft
12.5.2 Business & General Aviation
12.5.3 Military Aircraft
12.5.4 Helicopters
12.5.5 Rotorcrafts
12.5.6 Others
12.6 Historic and Forecasted Market Size By Application
12.6.1 Structural Frames
12.6.2 Cabin Interiors
12.6.3 Propulsion System
12.6.4 Others
12.7 Historic and Forecast Market Size by Country
12.7.1 China
12.7.2 India
12.7.3 Japan
12.7.4 Singapore
12.7.5 Australia
12.7.6 New Zealand
12.7.7 Rest of APAC
Chapter 13: Middle East & Africa Aerospace Materials Market Analysis, Insights and Forecast, 2017-2032
13.1 Key Market Trends, Growth Factors and Opportunities
13.2 Impact of Covid-19
13.3 Key Players
13.4 Key Market Trends, Growth Factors and Opportunities
13.4 Historic and Forecasted Market Size By Type
13.4.1 Steel Alloys
13.4.2 Titanium Alloys
13.4.3 Aluminium Alloys
13.4.4 Super Alloys
13.4.5 Plastics
13.4.6 Others
13.5 Historic and Forecasted Market Size By Aircraft Type
13.5.1 Commercial Aircraft
13.5.2 Business & General Aviation
13.5.3 Military Aircraft
13.5.4 Helicopters
13.5.5 Rotorcrafts
13.5.6 Others
13.6 Historic and Forecasted Market Size By Application
13.6.1 Structural Frames
13.6.2 Cabin Interiors
13.6.3 Propulsion System
13.6.4 Others
13.7 Historic and Forecast Market Size by Country
13.7.1 Turkey
13.7.2 Saudi Arabia
13.7.3 Iran
13.7.4 UAE
13.7.5 Africa
13.7.6 Rest of MEA
Chapter 14: South America Aerospace Materials Market Analysis, Insights and Forecast, 2017-2032
14.1 Key Market Trends, Growth Factors and Opportunities
14.2 Impact of Covid-19
14.3 Key Players
14.4 Key Market Trends, Growth Factors and Opportunities
14.4 Historic and Forecasted Market Size By Type
14.4.1 Steel Alloys
14.4.2 Titanium Alloys
14.4.3 Aluminium Alloys
14.4.4 Super Alloys
14.4.5 Plastics
14.4.6 Others
14.5 Historic and Forecasted Market Size By Aircraft Type
14.5.1 Commercial Aircraft
14.5.2 Business & General Aviation
14.5.3 Military Aircraft
14.5.4 Helicopters
14.5.5 Rotorcrafts
14.5.6 Others
14.6 Historic and Forecasted Market Size By Application
14.6.1 Structural Frames
14.6.2 Cabin Interiors
14.6.3 Propulsion System
14.6.4 Others
14.7 Historic and Forecast Market Size by Country
14.7.1 Brazil
14.7.2 Argentina
14.7.3 Rest of SA
Chapter 15 Investment Analysis
Chapter 16 Analyst Viewpoint and Conclusion
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Aerospace Materials Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 19.74Bn. |
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Forecast Period 2022-28 CAGR: |
6.85% |
Market Size in 2032: |
USD 35.84 Bn. |
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Segments Covered: |
By Type |
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By Aircraft Type |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Aerospace Materials Market research report is 2024-2032.
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), Hexcel (US). and other major players.
The Aerospace Materials Market is segmented into Type, Aircraft Type, Application, and region. By Type, the market is categorized into Steel Alloys, Titanium Alloys, Aluminum Alloys, Super Alloys, Plastics, and Others. By Aircraft Type the market is categorized into Commercial Aircraft, Business & General Aviation, Military Aircraft, Helicopters, Rotorcrafts, and Others. By Application, the market is categorized into Structural Frames, Cabin Interiors, Propulsion systems, and Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Aerospace materials are referred to as the materials which are utilized by the aircraft OEMs & component producers for creating various aircraft parts. The materials applied in airplane design have been constantly developing. Prior flights were primarily built of spruce and ash wood with muslin covering the wings, while today's airliners are produced mostly of aluminium with some structures made from steel.
The Global Aerospace Materials market was valued at USD 19.74 billion in 2023 and is expected to reach USD 35.84 billion by the year 2032, at a CAGR of 6.85%
