Aerospace Material Market by Type (Aluminum Alloys, Steel Alloys, Titanium Alloys, Others) and Aircraft Type (Commercial Aircraft, Business & General Aviation, Military Aircraft, Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026386 | Pages: 100 | Industry: Chemicals and Materials | Date: Sep 2022 | Type: Global

The market crossed US$ 41 billion mark in 2022 and is expected to hit US$ 83 billion by 2030, recording a CAGR of 8.5% during the forecast period.

 

High demand for aircraft from emerging economies

The global aerospace industry had experienced an increase in the passenger air travel segment before the COVID-19 pandemic. Low-cost carriers (LCCs) have proved to be strong competitors in the market, particularly in the developing economies of APAC and South America. The number of people using air transport is increasing, driving the demand for larger airplanes. This demand will bring opportunities to companies supplying aerospace materials and other required components in the aircraft manufacturing industry and is further expected to drive market growth in the forecast period. 

Within the report, the market is segmented into type, aircraft type, and geography. By type, the market is segmented into aluminum alloys, steel alloys, titanium alloys, and others. By aircraft type, the market is divided into commercial aircraft, business & general aviation, military aircraft, and others. Geographically, the market is segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Get more information on this report :

The growing market for UAV generating demand for aerospace materials

UAV (drone) applications in the military have matured, becoming a key asset in military organizations worldwide. However, the civil and commercial market for UAVs is in its incipient phases with significant unrealized potential in a wide number of applications. Military expenditure for UAV technology is anticipated to grow as a total percentage of military budgets, offering growth opportunities to specialized drone manufacturers and software developers. Thus, with growing demand for UAV is further expected to drive the market growth in the near future.

Increasing demand for general and commercial aircraft

General and commercial aircraft are used for various purposes, including civil aviation (both private and commercial) and passenger and freight transportation. Single-aisle aircraft are mainly used for commercial purposes. According to Boeing, 32,270 units of single-aisle aircraft (narrow-body aircraft) will be delivered globally in the next 20 years, which may increase the demand for aerospace materials in the coming years. Many operators have plans to replace their existing fleet to cater to the growing consumer demand in developed economies. Therefore, the aforementioned factors are expected to significantly impact the market in the coming years.

Recent strategic developments in the aerospace material market

The aerospace material market has undergone several significant developments, and a few of these have been mentioned below:

  • In March 2020, Kymera International completed a transaction with Ametek Inc., based in Pennsylvania, United States. Kymera announced the acquisition of 100% of the shares of Ametek's Reading Alloys business, which includes the development and production of master alloys, thermal barrier coatings, and titanium powders that are used in the aircraft industry. This acquisition expanded Kymera's business and its product portfolio.
  • In July 2019, Kordsa Teknik Tekstil AS announced its acquisition of Axiom Materials, an aerospace composite manufacturer. This enhanced the former's business in the advanced composite materials industry and strengthened its product portfolio.

The aerospace material market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Toray Industries, Inc., Solvay S.A., DuPont de Nemours, Inc., Alcoa Corporation, Teijin Limited are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Aerospace manufacturer
  • Aerospace related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policymakers
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies

 

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type
  • Aluminum Alloys
  • Steel Alloys
  • Titanium Alloys
  • Others
  • Aircraft Type
  • Commercial Aircraft
  • Business & General Aviation
  • Military Aircraft
  • Others  
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
  • Toray Industries, Inc.
  • Solvay S.A.
  • DuPont de Nemours, Inc.
  • Alcoa Corporation
  • Teijin Limited

Companies profiled
- Toray Industries, Inc.
- Solvay S.A.
- DuPont de Nemours, Inc.
- Alcoa Corporation
- Teijin Limited

Report Code
Full Name
Country Name
Email Id
Phone Number
Job Title
Company
Requirement

Note : Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.


Purchase Options
Single User License
$2000
Site License
$3000
Enterprise License
$4000