Aerospace Materials Market size is projected to reach USD 25.1 Billion by 2027, growing at a CAGR of 6.2% globally.
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.
Moreover,
rise in demand for new aircraft acts as a key driver of the aerospace materials
market. However, availability of limited option for designing of complex
structures hampers the aerospace materials market growth. On the contrary, rise
in demand for commercial aircraft in emerging economies is resulting in
increased production of such aircrafts, offering vast opportunities for the
materials manufacturer.
The Major
Players In the Aerospace Materials Market Include:
·
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)
The Aerospace Materials market is
segmented by type and application. Growth between segments over the period
2022-2028 provides accurate calculations and forecasts of revenue by type and
application in terms of volume and value. This analysis can help you expand
your business by targeting eligible niches.
The market
has segmented the global Aerospace Materials market on the basis of type,
application, and region:
By Type:
·
Steel
Alloys
·
Titanium
Alloys
·
Aluminum
Alloys
·
Super
Alloys
·
Plastics
·
Composites
Materials
·
Others
By
Application:
·
Structural Frames
·
Cabin Interiors
·
Propulsion System
·
Others
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Report: -
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By Regional Outlook
(Revenue, USD Billion, 2017 – 2028)
- 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)
Covid-19
Impact and Recovery Analysis on Industry:
The COVID-19 pandemic has had
devastating effects on several industry verticals globally. To constrain the
number of cases and slow the coronavirus spread, various public health
guidelines were implemented in different countries across the globe. COVID-19
protocols ranging from declaring national emergency states, enforcing
stay-at-home orders, closing nonessential business operations and schools,
banning public gatherings, imposing curfews, distributing digital passes, and
allowing police to restrict citizen movements within a country, as well as
closing international borders. With the growing vaccination rate, governments
are uplifting the protocols to give a boost to the stagnant economy. Like other
industries, Aerospace Materials Market have experienced slowdown the
growth, however market is expected bounce back as restrictions are being lifted
up by governments across the globe.
The research provides an up-to-date
analysis of the current market scenario, as well as the current developments
and drivers, and the market landscape. Furthermore, the growing demand for Aerospace
Materials is expected to propel the industry forward. The Aerospace Materials market analysis
is segmented into type, application, and geographic landscape.
If You Have
Any Query of Aerospace Materials Market Report, Visit.
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