The global Aerospace Materials Market was stood around $34 billion in 2020 and is expected to demonstrate the growth of above 7% during the forecast period (2021-2027)

Future Growth of Aerospace Materials Market with Leading Key Players, Industry Share and Latest Opportunities 2027

Shifting aircraft manufacturer focus on reducing the aircraft weight without compromising on performance is increasing new materials demand like composites and super alloys. For instance, Aircrafts like Boeing 787 and Airbus A350 have been largely made of the material mix of carbon fibers and polymer resins. In addition, In developing countries like India, emergence of low-cost airlines increases the airline travels among middle-income population. Therefore, with more utilization of advanced aerospace materials like composites, the cost of airline travel is likely to reduce. This in turn, increase the airline travelling penetration, resulting in the increase in demand of aircraft to meet the growing demand. Thus, propelling the growth of the aerospace materials market.

COVID-19 affected the aerospace materials market negatively. Ban on traveling, resulting in the less demand of commercial and general aircraft, as a result production activity of new aircraft was halted. This in turn affected the whole ecosystem of aerospace industry including supplier and distributors of aerospace materials and manufacturer of aircraft components.

According to UnivDatos Market Insights (UMI)’ research report “Global”, the market is expected to witness a CAGR growth of above 7% during the forecast period 2021-2027F. Increasing airline usage in developing economies, commitment towards net-zero emissions, high innovation and technological advancements, growing defense budget coupled with growing concern on national security, and increasing industrialization and globalization are some of the key attributable factors for the growth of the market. 

Based on material type, the market is categorized into aluminum, steel, titanium, super alloy, composite, and others. Among these, aluminum held the significant share in the aerospace material market in 2020. A large number of aircraft component such as aircraft body and wings are manufacture using aluminum alloy. Further, increasing aluminum demand from large number of industries, increasing aerospace industry focus on recycle aluminum. In addition, shifting trend towards low-weight aircraft, is likely to increase aluminum alloys demand like aluminum-lithium, which can reduce the weight and improve aircraft performance.

Based on aircraft type, the market is categorized into commercial, military, business & general, helicopter, and others. Among these, commercial aircraft held the largest market share owing to high demand of aircraft and large number of materials consumptions during the manufacturing operations. Further, increasing penetration of airline travel in developing economies, increasing the commercial aircraft demand in order to meet the growing demand.

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Europe is likely to showcase robust growth during the forecast period

Based on region, the report provide detail analysis for overall adoption of aerospace materials in major region including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. Europe held the dominating position in the market. The region has one of most advance and mature aerospace industries in the entire globe. The regional aeronautical industry focuses on the development and manufacturing of civil and military aircrafts, helicopters, and its associated systems and equipment's like engine. The industry also had several companies which offers support services like maintenance and training.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Aerospace Materials market are Toray Industries Inc., Solvay S.A., DuPont de Nemours Inc., Alcoa Corporation, Teijin Limited, Allegheny Technologies Incorporated, Constellium SE, Kobe Steel Ltd., AMG N.V., and Hexcel Corporation. These companies are taking several strategic decisions to increase their market share and revneue.

Some of the instances are:

In September 2021, Hexcel Corporation awarded a multi-year contract to produce aerospace structures made with HexPEKK-100 for the Boeing 777X. The parts will be manufactured at the company’s additive manufacturing site near Hartford, Connecticut, US

In June 2021, Hexcel Corporation announced the successful maiden flight of a lightweight camera drone, developed using Hexcel HexPly carbon fiber prepregs. The composite drone was developed by a team of students from the University of Applied Sciences Upper Austria in Wels with composite materials supplied by Hexcel Neumarkt in Austria

“Global provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.    

Click here to view the Report Description & TOC: https://univdatos.com/reports/aerospace-materials-market

Market Segmentation:

By material type (Aluminum, Steel, Titanium, Super Alloy, Composite, and Others)

By aircraft type (Commercial, Military, Business & General, Helicopter, and Others)

By Region (North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)

By Company (Toray Industries Inc., Solvay S.A., DuPont de Nemours Inc., Alcoa Corporation, Teijin Limited, Allegheny Technologies Incorporated, Constellium SE, Kobe Steel Ltd., AMG N.V., and Hexcel Corporation.)

Key questions answered in the study:

What are the current and future trends of the global Aerospace Materials industry?

How the industry has been evolving in terms of material demand and aircraft category?

How the competition has been shaping across the countries followed by their comparative factorial indexing?

What are the key growth drivers and challenges for the global Aerospace Materials industry?

What are the customer orientation, purchase behavior, and expectations from the global Aerospace Materials suppliers across various region and countries?

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