Aerospace Materials Market Size Hit USD 69.37 billion by 2029, High demand for aircrafts from emerging economies and low-cost carriers is driving the market growth, Exclusive Report by Exactitude Consultancy


Increased demand for aerospace materials across a range of industries, including commercial aircraft, military aircraft, business jet and general aviation sectors, is likely to drive the market

PUNE, India, September 21, 2022 /PRNewswire/ — The global market trends for aerospace resin materials are expected to gain momentum by reaching $69.37 billion through 2029, although Exactitude Consultancy has a CAGR of 8.1% between 2022 and 2029, Exactitude Consultancy mentions that the market stood $34.41 billion in 2021.

Aerospace materials are substances that aircraft manufacturers and component manufacturers use to construct various aircraft parts. The materials used in aircraft construction have evolved over time. Earlier aircraft were made of ash and spruce, with muslin covering the wings, while modern aircraft are primarily aluminum with some steel construction. Aluminum is lightweight and inexpensive, especially when compared to other composite materials; thus it can provide useful updated features for the aircraft.

Sample report available in PDF version along with graphs and images @

Aerospace Materials Market by Type (Aluminum alloys, Steel alloys, Titanium alloys, Superalloys, Composite materials) Aircraft Type (Commercial Aircraft, Military Aircraft, Business and General Aviation, Helicopters) and by Region (North America, Europe, Asia Pacific, South America, Middle East and Africa) Global Trends and Forecast from 2022 to 2029

The global aerospace materials market is expected to grow at a significant rate due to the increasing demand for properties such as high fuel efficiency and high temperature resistance. Furthermore, the global aerospace materials market is expected to increase due to the introduction of strict carbon emission regulations around the world. The ease of machining, high strength, low density and high thrust-to-weight ratio in aircraft engines are expected to drive the demand for titanium aluminide (TiAl) and aluminum lithium (Al-Li) during the forecast period.

Recent Developments

  • July 2021: The Defense Research and Development Organization/DRDO has developed a high-strength, high-quality metastable beta-titanium alloy that is manufactured on a large scale to produce a range of aerospace structural forgings. This alloy was developed by the Defense Metallurgical Research Laboratory (DMRL), one of the leading laboratories in India which conducts extensive research activities in the field of materials science and technology.
  • October 2021: Duncan Aviation announces that its Machining and Welding department has received certification to the AWS D1.2/D1.2M Structural Welding Code – Aluminum. The company received this certification by demonstrating efficient structural welding processes and promoting in-house welding capacities.
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Greater proliferation of aircraft manufacturers in North America Region dominates market growth.

North America is expected to hold the largest share of the global aerospace materials market. The increasing dominance of aircraft manufacturers in this region explains this supremacy. In addition, significant air trade and air travel within this region can help boost growth. In addition, the government’s large investments in the air defense system create a large demand for aerospace materials. Europe is the second largest regional market of aerospace materials market. The presence of aircraft manufacturers in France, Germanyand the United Kingdom indicates a favorable response to growth.

Composite-based aerospace materials accounted for the largest share of the overall aerospace materials market by value

By value, the composite-based aerospace materials segment accounted for the largest share of 72.3% of the total aerospace materials market in 2020. Aircraft manufacturers use a high proportion of composite materials in new generation aircraft instead of metals and their alloys previously used.

Report scope:

Report Attribute/Metric

details

market size

$69.37 billion by 2029

$34.41 billion in 2021

CAGR

8.1% (2022-2029)

base year

2021

forecast period

2022-2029

Historical data

2017

Forecast Units

Value (Billion USD)

report coverage

Sales Forecast, Competitive Landscape, Growth Factors and Trends

Covered Segments

Material type, aircraft type

Regions Covered

North America, Europe, Asia Pacific and Rest of the World (RoW)

key provider

Global Titanium Inc, AMETEK Inc, ArcelorMittal, NSSMC Group, Supreme Engineering Ltd, AMG Advanced Metallurgical Group, Allegheny, Incorporated (ATI), Precision Castparts Corp, Mpecial Metals, Doncasters Group Ltd.

Important market opportunities

Reducing the cost of carbon filament

Important market drivers

Keen interest in composites for the aerospace industry.

scope of customization

Free report customization (equivalent to up to 8 analyst business days) with purchase. Addition or change of country, regional and segment scope.

Prices and purchase options

The entire organization can use the report. It can be printed and shared. Delivery in PDF and Excel.

The presence of major industry players executing strategic initiatives will increase market share

Major players operating in the global aerospace industry include: Global Titanium Inc, AMETEK Inc, ArcelorMittal, NSSMC Group, Supreme Engineering Ltd, AMG Advanced Metallurgical Group, Allegheny, Incorporated (ATI), Precision Castparts Corp, Mpecial Metals, Doncasters Group Ltd. The presence of established industry players and is characterized by mergers and acquisitions, joint ventures, capacity expansions, extensive distribution and branding decisions to improve market share and regional footprint

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Search the detailed research report summary with [email protected]

Aerospace Materials Market by Type (Aluminum alloys, Steel alloys, Titanium alloys, Superalloys, Composite materials) Aircraft Type (Commercial Aircraft, Military Aircraft, Business and General Aviation, Helicopters) and by Region (North America, Europe, Asia Pacific, South America, Middle East and Africa) Global Trends and Forecast from 2022 to 2029

Key Market Segments: Aerospace Materials Market

Aerospace Materials Market by Type, 2022-2029 (Million USD)

  • aluminum alloys
  • steel alloys
  • titanium alloys
  • super alloys
  • composite materials

Aerospace Materials Market, by Aircraft Type, 2022-2029, (Million USD)

  • passenger plane
  • military aircraft
  • Business and General Aviation
  • helicopter

Aerospace Materials Market by Region, 2022-2029, (Million USD)

  • North America
  • Europe
  • Asia Pacific
  • South America
  • middle East and Africa

market dynamics

driver

  • Increasing demand for lighter and more fuel-efficient aircraft in developing countries
  • Emergence of low-cost carriers boosting heavy traffic
  • High innovation and technological progress
  • Global plans for net zero emissions by 2050

limitations

  • Higher cost of advanced aerospace materials
  • Limited range of material options due to complex requirements
  • Loss of demand due to the global pandemic

occasions

  • Growing UAV market generates demand for aerospace materials
  • Stable defense sector will fuel steady demand
  • High demand for commercial aircraft

challenges

  • Costly maintenance, repair and overhaul services due to regulatory standards
  • Maintaining an uninterrupted supply chain due to COVID-19

Technological Analysis

Aerospace materials are materials used in the manufacture of aircraft parts. These materials are mostly alloys of aluminum and other metals, but synthetic polymer composites are also gaining market share. These materials are used to construct various aircraft components such as structural frames, cabin interiors, propulsion systems, and so on.

The ideal properties of aerospace materials are high strength, high heat resistance and light weight. These materials are strong and resistant to damage. Aluminum alloys and titanium alloys have traditionally been used as aerospace materials, accounting for about 80% of the total materials used. Composite materials such as fiber reinforced materials and fiber metal laminates are becoming increasingly popular. In addition, the increasing use of nanotechnology in aerospace materials manufacturing will change the face of aerospace materials in the future.

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The global carbon fiber market is expected to grow at a CAGR of 8.2% from 2022 to 2029. He is expected to go beyond that $5 billion until 2029 $2.46 billion in 2020.

Carbon Fiber Market by Raw Material (PAN-based carbon fiber, Pitch-based & Rayon-based carbon fiber), Type (Virgin Fiber and Recycled Fiber), Application (Composite Materials, Textiles, Microelectrodes, and Catalysis), End-user Industry (Aerospace and Defense, Alternative Energy, Automotive, Construction and Infrastructure, Sporting Goods, and Other End-user Industries) and Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global trends and forecast from 2022 to 2029

Market share of high temperature composites

The global high temperature composites market size is expected to grow at CAGR 7.38% from 2022 to 2029 $138.60 million until 2029 $73.45 million in 2020.

High-Temperature Composite Materials Market by Range (Ultra-high temperature and High temperature), Matrix system (CMC, MMC, PMC), by Application (Aerospace and defense, transportation, energy and power, electronics and electrical), and Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global trends and forecast from 2022 to 2029

Fiber optic coupler market growth

The global fiber optic coupler market is forecast to grow at a CAGR of 10.72% from 2022 to 2029. He is expected to go beyond that $10.5 billion until 2029 $4.2 billion in 2020.

Fiber Optic Coupler Market by Type (Lucent Connector (LC), Subscriber Connector (SC), Straight Tip (ST), Multi-Fiber Termination Push On/Pull Off (MTP), Master Unit (MU), Fiber Distributed Data Interface (FDDI), Sub Multi Assembly (SMA)) Application (Telecom, Oil and Gas, Military & Aerospace, BFSI, Medical, Railway) Region (North America, Asia Pacific, Europe, South America, Middle East & Africa), Global Trends and Forecast from 2022 to 2029

About accuracy advice

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