The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

 

The commercial aircraft airframe materials market has experienced a meteoric rise in recent years, demonstrating substantial growth. The market, valued at $6.72 billion in 2023, is poised to surge to $7.48 billion in 2024, reflecting an impressive compound annual growth rate (CAGR) of 11.3%. The historical growth is attributed to various factors such as increased air traffic, a surge in travel and tourism, population growth, rise in disposable income, and the overall expansion of the aviation industry.

                          

 

Cruising to New Heights: Foreseeing Rapid Growth

Projections for the Future

The upward trajectory is set to continue, with the commercial aircraft airframe materials market expected to witness rapid growth in the coming years. By 2028, the market is projected to reach $11.35 billion, maintaining a robust compound annual growth rate (CAGR) of 11.0%. The forecasted growth is fueled by emerging market demand, fuel-efficient airframe designs, sustainable aviation materials, the entry of new players into the market, and the escalating need for commercial aircraft. Noteworthy trends in the forecast period include next-generation aircraft development, advanced electric and hybrid propulsion, innovative aircraft sustainability initiatives, technological advancements, and the use of advanced materials for fuel efficiency.

 

 

Major Contributors to Market Growth

1. Emerging Market Demand: Increasing need for commercial aircraft in developing markets.
2. Fuel-Efficient Airframe Designs: Growing emphasis on eco-friendly and cost-effective aviation solutions.
3. Sustainable Aviation Materials: Adoption of materials with reduced environmental impact.
4. Market Entry of New Players: Diversification and expansion in the competitive landscape.
5. Growing Need for Commercial Aircrafts: Addressing the rising demand for air travel globally.

 

 

Rise In Tourism Industry To Drive Market Growth

Tourism’s Impact on Airframe Materials

The burgeoning tourism industry is anticipated to be a significant driver for the growth of commercial aircraft airframe materials. The global tourism sector, covering various activities and services related to leisure, business, or other travel purposes, plays a pivotal role in shaping airline strategies. The growth in tourism prompts airlines to expand their fleets, acquire new aircraft, and upgrade older ones. This surge in aviation activity, driven by the tourism industry, fuels the demand for advanced, fuel-efficient commercial aircraft airframe materials. These materials contribute to enhanced aircraft performance, reduced maintenance costs, and a more sustainable and comfortable travel experience – essential factors for airlines catering to the tourism sector. Notably, in January 2023, the United Nations World Tourism Organization reported that over 900 million tourists traveled internationally in 2022, a significant increase from 2021. The Middle East, in particular, experienced remarkable relative growth, with tourist arrivals reaching 83% of pre-pandemic levels.

 

 

Key Players Steering the Industry

Major companies contributing to the growth of the commercial aircraft airframe materials market include:

• Solvay S.A
• Constellium SE
• Arconic Corporation
• Toray Industries Inc.
• Teijin Limited
• Southwest Aluminum
• Hexcel Corporation
• VSMPO-AVISMA Corporation
• ATI Industrial Automation
• HITCO Carbon Composites Inc.
• Kobe Steel Ltd.
• Alcoa Corporation
• AMG Advanced Metallurgical Group NV
• Dupont de Nemours Inc.
• The Boeing Company
• Lockheed Martin Corporation
• Commercial Aircraft Corporation of China (COMAC)
• Airbus SE
• TATA Advanced Systems Ltd.
• Spirit AeroSystems Inc.
• Cytec Solvay Group
• Mitsubishi Chemical Corporation
• Owens Corning
• Koninklijke Ten Cate BV
• Henkel AG & Co. KGaA
• Huntsman Corporation
• SGL Carbon SE
• BASF SE
• Evonik Industries AG
• Norsk Titanium AS
• Aleris Corporation
• Kaiser Aluminum Corporation
• Materion Corporation
• Precision Castparts Corp.
• ThyssenKrupp Aerospace.

 

 

Adoption Of Advanced Composite Materials In Aerospace

Innovations for Sustained Leadership

Major companies operating in the commercial aircraft airframe materials market are at the forefront of innovation, developing new materials to maintain their market leadership. A prime example is Markforged, a US-based additive manufacturing company that launched aerospace composite materials – Onyx FR-A and Carbon Fiber FR-A – in July 2021. These materials, designed specifically for aircraft interiors, meet Flame, Smoke, and Toxicity (FST) requirements. With traceability and adherence to stringent regulations, these materials offer a high strength-to-weight ratio, exceptional surface finish, and consistency. Such innovations enable groundbreaking applications in additive manufacturing for end-use aircraft parts, contributing to the industry’s continuous evolution.

 

 

Trelleborg Expands Aerospace Sealing Solutions Through Acquisition Of Mg SilikonGmbh

Strategic Growth through Acquisition

In July 2022, Trelleborg AB, a Sweden-based provider of engineered polymer solutions, made a strategic move by acquiring MG Silikon GmbH. The German-based organization, a part of the Saint-Gobain Group, focuses on sealing solutions for industrial and aerospace applications. This acquisition is expected to strengthen Trelleborg’s position in offering sealing solutions for cabin interiors, a strategic growth area for the company. It is anticipated to boost airframe seal production capacity, further solidifying Trelleborg’s commitment to advancing aerospace sealing solutions.

 

 

Market Segmentation: Understanding the Landscape

The commercial aircraft airframe materials market is segmented based on:

1. Type: Aluminum Alloys, Titanium Alloys, Composites, Steel Alloys
2. Application: Narrow-Body Aircraft, Wide-Body Aircraft, Regional Aircraft, Other Applications

 

 

Regional Insights

In 2023, the Middle East emerged as the largest region in the commercial aircraft airframe materials market. Looking ahead, Asia-Pacific is expected to be the fastest-growing region in the forecast period.

 

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The Commercial Aircraft Airframe Materials Global Market Report 2024 provides an overviewof the commercial aircraft airframe materials market for the time series: historic years (2010 -2021) and ten years forecast (2023 – 2032).The commercial aircraft airframe materials market forecast analyzescommercial aircraft airframe materialsmarket size, commercial aircraft airframe materials market share,leading competitor and their market positions.

 

 

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