The Global Aerospace Materials market was valued at USD 17.50 billion in 2021 and is expected to reach USD 26.66 billion by the year 2028, at a CAGR of 6.2%.
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.
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Aerospace materials are materials that are deployed for various aerospace purposes, as they offer enhanced properties such as high tensile strength, superior temperature tolerance, enhanced transparency, and hard surface. The aerospace manufacturers are shifting their preference toward materials such as advanced plastics, carbon or glass-based fiber composites in the construction of aircraft parts such as airframes, windows, interiors, engine components, propulsion systems, mirrors, and ceilings, thereby replacing conventional metals.
Leading Key Players Covered in Aerospace Materials market:
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.
These companies are devising key strategies such as acquisitions, merges, collaborations, partnerships, new product launches, regional expansions, and targeting untapped markets to gain competitive advantage over other players working in the market.
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Segmentation of Aerospace Materials market:
By Type:
Steel Alloys,Titanium Alloys,Aluminum Alloys,Super Alloys,Plastics,Others
By System:
· Structural Frames
· Cabin Interiors
· Propulsion System
· Others
Geographic Segment Covered in the Report
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
South America (Brazil, Argentina, Rest of South America)
Reasons to Purchase this Market Report:
Market forecast analysis through recent trends and SWOT analysis
Aerospace Materials Market Dynamics Scenarios with Market Growth Opportunities over the Next Year
Market segmentation analysis, including qualitative and quantitative studies that include economic and non-economic impacts
Aerospace Materials Market Regional and country-level analysis that integrates demand and supply forces that impact the growth of the market.
Competitive environment related to the Aerospace Materials market share for key players, along with new projects and strategies that players have adopted over the past five years
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Objectives of the global Aerospace Materials market
1. To identify the main subsegments of the Aerospace Materials market to comprehend its structure.
2. Identifies describes, and analyses the sales volume, value, market share, competitive market landscape, opportunities and threats, and strategic initiatives for the main worldwide Aerospace Materials manufacturers for the next few years.
3. To examine the Aerospace Materials in terms of specific expected growth, career outlook, and market share contribution.
4. Analyze commercial developments in the market, such as market expansions, partnerships, new product development, and mergers.
5. To develop a strategic analysis of the main players and a thorough analysis of their strategic planning.
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