Comprehensive Aerospace Materials Market Analysis 2024: Size, Share, And Key Trends
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 aerospace materials market size has exhibited strong growth in recent years, rising from $22.6 billion in 2023 to $24.57 billion in 2024, with a compound annual growth rate (CAGR) of 8.7%. The historic period’s growth is attributed to robust economic growth in emerging markets, increased demand for air travel, and rising military spending. Moving forward, the market is expected to see strong growth, reaching $33.93 billion in 2028 at a CAGR of 8.4%. This growth in the forecast period is driven by the increasing use of lightweight materials, rising government support, heightened commercial aircraft deliveries, and rapid urbanization. Major trends in the forecast period include the introduction of innovative products focusing on structural film adhesives, emphasis on advanced materials with improved strength and performance, advancement of aerospace materials using 3D printing, investment in production capacities, and strategic partnerships and collaborations among market players to enhance product portfolios.
The aerospace materials market is poised for growth with the increasing use of lightweight materials. Selecting the appropriate materials for specific applications becomes crucial, considering the harsh conditions aircraft endure, including atmospheric forces, temperature extremes, and ultraviolet rays. An illustrative example is Jamco Corporation’s Venture Premium Class Seat, introduced in March 2023. This Japan-based aircraft engines and engine parts company designed a sustainable seat that reduces operational costs for airlines. Crafted with a significant proportion of recycled materials, the Venture seat is not only lighter than traditional seats but also easy to install and requires less overall maintenance. This shift towards lightweight materials is expected to support the aerospace materials market, aligning with market projections for 2023, 2024, and 2028.
Get A Free Sample On The Aerospace Materials Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5657&type=smp
What Are The Key Trends That Influence Aerospace Materials Market Share Analysis?
The aerospace materials market is seeing a rise in the development of carbon fiber composites for various aerospace components and structures. Carbon fiber, composed of carbon atoms arranged in long, thin crystals, can be molded with epoxy into complex shapes, offering advantages over metals and minimizing weak points. Its lightweight, durable, and corrosion-resistant properties are driving its use in aerospace applications. For instance, in August 2021, Markforged, a U.S.-based additive manufacturing firm, launched Onyx FR-A and Carbon Fiber FR-A materials, which are designed to reduce fuel consumption and improve engine performance in aircraft interiors.
Which Market Players Are Driving Growth In The Aerospace Materials Market?
Major companies operating in the market are Allegheny Technologies Incorporated, Arconic Corporation, Constellium SE, Hexcel Corporation, Solvay SA, Toray Industries Inc., Du Pont, Novelis Inc., Teijin Ltd., Materion Corp, Hindustan Aeronautics Limited (HAL), Bharat Electronics Limited (BEL), Tata Advanced Systems Limited (TASL), Aequs Aerospace, Dynamatic Technologies Limited, Mitsubishi Heavy Industries, Ltd., Kawasaki Heavy Industries, Subaru Corporation, Quickstep Holdings Limited, RUAG Australia, AVIC Shenyang Aircraft Company Ltd, Aecc Aviation Power Co., Ltd, China Shipbuilding Industry Company Ltd, Gaona Aero Material Co. Ltd, CSSC Offshore & Marine Engineering (Group) Company Ltd, MTU Aero Engines, Diehl Aerospace, OHB SE, Premium AEROTEC, Dassault Aviation, Safran, Airbus Defence and Space, Indra Sistemas, Alestis Aerospace, Saab AB, Sukhoi Company, Gazprom Space Systems, Aerostar, IAR Ghimbav, Apollo Aerospace Components, AERO Vodochody, PBS Velká Bíteš, PZL Mielec, Lockheed Martin Corporation, The Boeing Company, Spirit AeroSystems, Inc, Magellan Aerospace, Avcorp Industries Inc, Héroux-Devtek, Kordsa, Turkish Aerospace Industries, East African Canvas Company Limited, Kenya Aerotech Limited, Aerosud Aviation (Pty) Ltd, Paramount Group, Cairo Aviation, Arik Air, Air Peace
How Is The Global Aerospace Materials Market Segmented?
The aerospace materials market covered in this report is segmented –
1) By Type: Aluminum Alloys, Steel Alloys, Titanium Alloys, Super Alloys, Composites, Other Types
2) By Aircraft Type: Commercial Aircraft, Business and General Aviation, Civil Helicopters, Military, Other Aircraft Types
3) By Application: Interior, Exterior
Read The Full Aerospace Materials Market Report Here
https://www.thebusinessresearchcompany.com/report/aerospace-materials-global-market-report
The Aerospace Materials Global Market Report 2024 provides an overview of the aerospace materialsmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The aerospace materials market forecast analyzes aerospace materials market size, aerospace materials market share, leading competitor and their market positions.
The Table Of Content For The Aerospace Materials Market Include
1. Aerospace Materials Market Executive Summary
2. Aerospace Materials Market Segments
3. Aerospace Materials Market Size And Template Market Growth Rate
4. Key Aerospace Materials Market Trends
5. Major Aerospace Materials Market Drivers
……
25. Key Mergers And Acquisitions In The Aerospace Materials Market
26. Top Aerospace Materials Companies
27. Aerospace Materials Market Opportunities And Strategies
28. Aerospace Materials Market, Conclusions And Recommendations
29. Appendix
Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: