Global Aerospace Materials Market By Type (Aluminium Alloys, Steel Alloys, Titanium Alloys, Super Alloys, Composite Materials, Others), Aircraft Type (Commercial Aircraft, Military Aircraft, Business & General Aviation, Helicopters, Other Aircraft Types), Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) - Industry Trends and Forecast to 2026
Market Analysis: Global Aerospace Materials Market
Global aerospace materials market is registering a steady CAGR of 7.30% in the forecast period of 2019-2026. The report contains data of the base year 2018 and historic year 2017. This rise in market value can be attributed to the rising preference efficient and light weighted aircraft and growing numbers of commercial aircrafts.
Market Definition: Global Aerospace Materials Market
Aerospace materials are usually metal alloys which have acquired popularity for the aerospace sector or have been created. These materials should have strength, thermal resistance, and light weight characteristics. In addition, strength to prevent corrosion and fatigue resistance is the characteristics that these materials must have. Due to its incredible state of the art, light weight, and affordable nature, aluminium was the most commonly used material in the early stage of the aerospace manufacturing sector.
- Continuous advancement in aircraft materials is driving the market growth
- Demand for reducing weight for increasing fuel efficiency is flourishing the market growth
- Rising funds in defence sector for aircrafts is helping in the growth of the market
- Growing numbers of commercial aircrafts drives the market growth
- Surging preference for composite materials hinders the market growth
- Complex requirement due to less material options hampers the market growth
- Less expenditure in defense sector in developed economies acts as a market restraint
Segmentation: Global Aerospace Materials Market
- Aluminium Alloys
- Steel Alloys
- Titanium Alloys
- Super Alloys
- Composite Materials
By Aircraft Type
- Commercial Aircraft
- Military Aircraft
- Business & General Aviation (BGA)
- Other Aircraft Types
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In August 2019, AZoNetwork launched a new generation technology Greene Tweed’s Fusion FKM 665. It has an ultra-low temperature and is chemical resistant elastomer. It was manufactured to meet the demands of Aerospace Material Specification (AMS) 7379 and AMS-P-83461. It low temperature does not compromise with the high performance of aircraft. This launch had expanded the product portfolio of the company.
- In May 2019, Markforged, had launched Onyx FR, a new, V-0 rated flame-retardant material. It is manufactured to meet the demand for flame retardant material from aerospace industry. It has a self-extinguishing technology as compared to traditional technology with high quality surface finish and superior strength. This launch had expanded the product portfolio of the company as expanded its market share in the aerospace market.
Global aerospace materials market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of aerospace materials market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global aerospace materials market are Alcoa Corporation, Aleris Corporation, AMG Advanced Metallurgical Group, AMI Metals, Air Transport International, Inc., Avdel, Constellium, Solvay, DOW, Hexcel Corporation, Hindalco - Almex Aerospace Limited, Kaiser Aluminum, KOBE STEEL, LTD, Koninklijke Ten Cate bv., Lee Aerospace, Materion Corporation, PARK AEROSPACE CORP, Renegade Materials Corporation, SGL Carbon, TATA Advanced Materials Limited., Sofitec Aero, S.L.
Research Methodology: Global Aerospace Materials Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved