Report Scope & Overview:
Aerospace Materials Market Size was valued at USD 43.69 billion in 2022, and is expected to reach USD 85.17 billion by 2030, and grow at a CAGR of 8.7% over the forecast period 2023-2030.
The aircraft industry uses aerospace materials because of their superior qualities, such as high tensile strength, improved temperature tolerance, improved transparency, and a hard surface. Aerospace manufacturers are increasingly using advanced polymers and carbon or glass-based fiber composites to create components for aero planes such as airframes, windows, interiors, engine parts, propulsion systems, mirrors, and ceilings. Traditional metals are being replaced by these materials.
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One of the drivers of the global aerospace materials market's expansion is the demand for lighter, more fuel-efficient aircraft. Additionally, as fleet sizes grow as a result of the increase in air passenger traffic in emerging nations like Asia and the Pacific, there is a greater need for aerospace materials. The increased demand for new aircraft also has a big impact on the market for aerospace materials. There aren't many possibilities for building complex structures, which restricts the growth of the aerospace materials business.
Market Dynamics:
Drivers:
Developing nations are requesting lighter, more fuel-efficient aircraft.
Low-cost airlines are improving the transportation of large passengers.
Significant technical advancement and innovation.
An age of unheard-of progress has begun thanks to remarkable advances in creativity and technology. Innovations in sectors like biotechnology, renewable energy, and artificial intelligence are changing industries and redefining possibilities. From self-driving cars to personalized health, these innovations are encouraging smarter and more effective solutions. To fully utilize the promise of these disruptive technologies, adaptation and ongoing learning are essential, which is highlighted by the rapid rate of invention.
Restraints:
The price of high-tech aircraft materials is increasing.
There is a limited selection of materials due to the demanding requirements.
The worldwide epidemic has resulted in a decline in sales.
The extensive effects of the epidemic have led to a general decline in sales across several industries. Lockdowns, travel restrictions, and social segregation policies have severely reduced consumer demand and hampered supply chains. Businesses have struggled with diminished revenue sources as a result, demanding flexible ways to deal with these unheard-of difficulties. The drop in sales is a sobering reminder of the pandemic's extensive economic effects on a worldwide level.
Opportunity:
Aerospace materials are in demand because the market for UAVs is growing.
The market for UAVs is expanding, increasing demand for aerospace materials.
A stable defense market will lead to stable demand.
Demand for commercial aircraft is high.
An exciting opportunity in the aerospace material market arises from the high demand for commercial planes. As more people seek air travel, airlines are looking to expand their fleets to meet this demand. This presents a chance for aerospace material providers to offer innovative and efficient materials that can make planes lighter, more fuel-efficient, and environmentally friendly. By supplying materials that enhance aircraft performance and reduce operational costs, companies can play a crucial role in shaping the future of air travel and establishing themselves as key players in a growing market.
Challenge:
Government regulations make upkeep, repairs, and overhauls expensive.
A significant difficulty in the aircraft materials business is creating materials that are at once robust, heat-resistant, lightweight, cost-effective, and consistent with regulations.
The development of materials that cover a delicate mix of qualities—resilience, heat endurance, low weight, accessibility, and compliance with strict regulations—represents a significant challenge for the airplane materials sector. Achieving this convergence of properties is a challenging endeavor that requires material scientists and engineers to come up with novel solutions. Finding materials that not only adhere to the stringent performance standards of the aviation and aerospace industries but also take cost and safety regulations into account is a problem. This complex interplay of variables highlights the continual search for innovative materials that develop the sector while maintaining efficiency and safety.
Impact of Covid-19:
COVID-19 has hurt the demand for materials used in aerospace. The disruption in the supply chain, which caused raw materials to arrive late or not at all, messed up the flow of money, and rising absenteeism on the production lines has forced aerospace component manufacturers to operate at less than full capacity. The travel restrictions have cut down on air travel by a lot, which has hurt the aerospace industry by cutting down on deliveries and demand for new planes. Demand for aerospace materials has gone down because fewer planes are being delivered.
Impact of Ongoing Recession
The aircraft industry is significantly impacted by recessionary cycles, much like many other industries. Although demand may temporarily decline, companies that can adapt to changing market dynamics, emphasize innovation, and maintain high standards of quality may be able to weather economic downturns. By using government aid and researching untapped market segments, force sensor manufacturers may position themselves for recovery and long-term success. Resilience and adaptation are crucial for success in a complicated and dynamic economic environment.
In the United States, the aviation sector supports roughly 11 million people and generates $1.8 trillion in total economic activity or 5% of the nation's GDP. As the overall economy grows, so does the aviation sector. In reality, at the early epidemic peak in April 2020, people saved up to 33 percent of their income; yet, as of April 2022, they are aggressively squandering their money and only conserving 4 percent of it.
People are struggling to save money for aeronautical materials as a result of the recession since the cost of raw materials has soared.
Impact of Russia Ukraine War
The Aerospace market may be significantly impacted by the Russia-Ukraine War. While some repercussions can be negative, including supply chain disruptions and regional market instability, there might also be chances for technical innovation and rising demand in particular industries. Businesses operating in the market should keep a close eye on the situation and adjust their plans as necessary to meet the difficulties and seize any possibilities presented by these geopolitical changes.
Despite the continued supply chain disruptions and significant price pressures brought on by the Ukraine War, Constellium had solid earnings in 2022. Shipments totaled a consistent 1.6 million metric tons 8.1 billion euros in sales and 308 million euros in net profit were recorded. This happened due to the industry's quick shift in additive manufacturing, Constellium is a global leader in the development, manufacture, and recycling of aluminum products and solutions, which explains why its sales have increased even after the Russia-Ukraine war.
Market Segment:
By Type
Aluminum Alloys
Titanium Alloys
Steel Alloys
Super Alloys
Composites
Others
By Aircraft Type
Commercial Aircraft
Business & General Aviation
Military Aircraft
Helicopters
Others
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Regional Analysis:
North America dominates the market for aircraft materials. This is due to the higher concentration of businesses in this area that produce airplanes. Large-scale air travel and commerce in this region may also aid in the expansion of the economy. The government invests a lot of money in the air defense system, thus a lot of aerospace materials are also required. The value of the aviation industry in North America in 2020 was USD 59.20 billion.
After the United States, Europe is the second-largest market for aerospace materials. It is advantageous for expansion that France, Germany, and the UK all have factories that manufacture aircraft. Demand in this market is also influenced by factors like the high disposable income of the populace and their preference for flying.
The region with the fastest growth is the Asia-Pacific. There is a high demand for planes as a result of the increase in travelers and flights. Another factor that promotes expansion is a significant increase in military aviation activities. The high expense of air travel in the Middle East is what drives the need for aircraft materials. Soon, a sizable portion of the market is also anticipated to belong to this region.
Regional Coverage
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Key Players:
Constellium SE, Alcoa Corporation, Toray Industries, Inc., Allegheny Technologies Incorporated, Solvay S.A., Teijin Limited, Kobe Steel, Ltd., NOVELIS , AMG N.V., Hexcel, DuPont de Nemours, Inc., and other players.
Alcoa Corporation-Company Financial Analysis
Recent Development:
A high-quality, metastable titanium alloy that has been developed by the Defence Research and Development Organisation (DRDO) and will be produced on a wide scale to produce several aircraft structural forgings was released in July 2021.
The AWS D1.2/D1.2M Structural Welding Code - Aluminium accreditation was given to Duncan Aviation's Machining and Welding department in October 2021.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 43.69 Billion |
| Market Size by 2030 | US$ 85.17 Billion |
| CAGR | CAGR of 8.7% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By type ( Aluminum Alloys, Titanium Alloys, Steel Alloys, Super Alloys, Composites, Others ) • By aircraft type (Commercial Aircraft, Business & General Aviation, Military Aircraft, Helicopters, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Constellium SE, Alcoa Corporation, Toray Industries, Inc., Allegheny Technologies Incorporated, Solvay S.A., Teijin Limited, Kobe Steel, Ltd., NOVELIS , AMG N.V., Hexcel, DuPont de Nemours, Inc. |
| Drivers | • Developing nations are requesting lighter, more fuel-efficient aircraft. • Low-cost airlines are improving the transportation of large passengers. • Significant technical advancement and innovation. |
| Restraints | • The price of high-tech aircraft materials is increasing. • There is a limited selection of materials due to the demanding requirements. • The worldwide epidemic has resulted in a decline in sales. |
Ans: Aluminum Alloys, Titanium Alloys, Steel Alloys, Super Alloys, Composites and Others are the sub-segments of by type segment.
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Due to government rules, maintenance, repairs, and overhauls are expensive and Keeping the supply chain from stopping because of COVID-19 are the challenges faced by the Aerospace Materials Market.
Ans: Aerospace materials are in demand because the market for UAVs is growing, Stable demand will come from a stable defence market and Commercial planes are in high demand are the opportunity for Aerospace Materials Market.
Ans: Aerospace Materials Market Size was valued at USD 40.2 billion in 2021, and expected to reach USD 72.11 billion by 2028, and grow at a CAGR of 8.7 % over the forecast period 2022-2028.
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Aerospace Materials Market Segmentation, By Type
8.1 Aluminium Alloys
8.2 Titanium Alloys
8.3 Steel Alloys
8.4 Super Alloys
8.5 Composites
8.6 Others
9. Aerospace Materials Market Segmentation, by Aircraft Type
9.1 Commercial Aircraft
9.2 Business & General Aviation
9.3 Military Aircraft
9.4 Helicopters
9.5 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Aerospace Materials Market by Country
10.2.2 North America Aerospace Materials Market By Type
10.2.3 North America Aerospace Materials Market by Aircraft Type
10.2.4 USA
10.2.4.1 USA Aerospace Materials Market By Type
10.2.4.2 USA Aerospace Materials Market by Aircraft Type
10.2.5 Canada
10.2.5.1 Canada Aerospace Materials Market By Type
10.2.5.2 Canada Aerospace Materials Market by Aircraft Type
10.2.6 Mexico
10.2.6.1 Mexico Aerospace Materials Market By Type
10.2.6.2 Mexico Aerospace Materials Market by Aircraft Type
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Aerospace Materials Market by Country
10.3.1.2 Eastern Europe Aerospace Materials Market By Type
10.3.1.3 Eastern Europe Aerospace Materials Market by Aircraft Type
10.3.1.4 Poland
10.3.1.4.1 Poland Aerospace Materials Market By Type
10.3.1.4.2 Poland Aerospace Materials Market by Aircraft Type
10.3.1.5 Romania
10.3.1.5.1 Romania Aerospace Materials Market By Type
10.3.1.5.2 Romania Aerospace Materials Market by Aircraft Type
10.3.1.6 Hungary
10.3.1.6.1 Hungary Aerospace Materials Market By Type
10.3.1.6.2 Hungary Aerospace Materials Market by Aircraft Type
10.3.1.7 turkey
10.3.1.7.1 Turkey Aerospace Materials Market By Type
10.3.1.7.2 Turkey Aerospace Materials Market by Aircraft Type
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Aerospace Materials Market By Type
10.3.1.8.2 Rest of Eastern Europe Aerospace Materials Market by Aircraft Type
10.3.2 Western Europe
10.3.2.1 Western Europe Aerospace Materials Market by Country
10.3.2.2 Western Europe Aerospace Materials Market By Type
10.3.2.3 Western Europe Aerospace Materials Market by Aircraft Type
10.3.2.4 Germany
10.3.2.4.1 Germany Aerospace Materials Market By Type
10.3.2.4.2 Germany Aerospace Materials Market by Aircraft Type
10.3.2.5 France
10.3.2.5.1 France Aerospace Materials Market By Type
10.3.2.5.2 France Aerospace Materials Market by Aircraft Type
10.3.2.6 UK
10.3.2.6.1 UK Aerospace Materials Market By Type
10.3.2.6.2 UK Aerospace Materials Market by Aircraft Type
10.3.2.7 Italy
10.3.2.7.1 Italy Aerospace Materials Market By Type
10.3.2.7.2 Italy Aerospace Materials Market by Aircraft Type
10.3.2.8 Spain
10.3.2.8.1 Spain Aerospace Materials Market By Type
10.3.2.8.2 Spain Aerospace Materials Market by Aircraft Type
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Aerospace Materials Market By Type
10.3.2.9.2 Netherlands Aerospace Materials Market by Aircraft Type
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Aerospace Materials Market By Type
10.3.2.10.2 Switzerland Aerospace Materials Market by Aircraft Type
10.3.2.11 Austria
10.3.2.11.1 Austria Aerospace Materials Market By Type
10.3.2.11.2 Austria Aerospace Materials Market by Aircraft Type
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Aerospace Materials Market By Type
10.3.2.12.2 Rest of Western Europe Aerospace Materials Market by Aircraft Type
10.4 Asia-Pacific
10.4.1 Asia Pacific Aerospace Materials Market by Country
10.4.2 Asia Pacific Aerospace Materials Market By Type
10.4.3 Asia Pacific Aerospace Materials Market by Aircraft Type
10.4.4 China
10.4.4.1 China Aerospace Materials Market By Type
10.4.4.2 China Aerospace Materials Market by Aircraft Type
10.4.5 India
10.4.5.1 India Aerospace Materials Market By Type
10.4.5.2 India Aerospace Materials Market by Aircraft Type
10.4.6 japan
10.4.6.1 Japan Aerospace Materials Market By Type
10.4.6.2 Japan Aerospace Materials Market by Aircraft Type
10.4.7 South Korea
10.4.7.1 South Korea Aerospace Materials Market By Type
10.4.7.2 South Korea Aerospace Materials Market by Aircraft Type
10.4.8 Vietnam
10.4.8.1 Vietnam Aerospace Materials Market By Type
10.4.8.2 Vietnam Aerospace Materials Market by Aircraft Type
10.4.9 Singapore
10.4.9.1 Singapore Aerospace Materials Market By Type
10.4.9.2 Singapore Aerospace Materials Market by Aircraft Type
10.4.10 Australia
10.4.10.1 Australia Aerospace Materials Market By Type
10.4.10.2 Australia Aerospace Materials Market by Aircraft Type
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Aerospace Materials Market By Type
10.4.11.2 Rest of Asia-Pacific Aerospace Materials Market by Aircraft Type
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Aerospace Materials Market by Country
10.5.1.2 Middle East Aerospace Materials Market By Type
10.5.1.3 Middle East Aerospace Materials Market by Aircraft Type
10.5.1.4 UAE
10.5.1.4.1 UAE Aerospace Materials Market By Type
10.5.1.4.2 UAE Aerospace Materials Market by Aircraft Type
10.5.1.5 Egypt
10.5.1.5.1 Egypt Aerospace Materials Market By Type
10.5.1.5.2 Egypt Aerospace Materials Market by Aircraft Type
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Aerospace Materials Market By Type
10.5.1.6.2 Saudi Arabia Aerospace Materials Market by Aircraft Type
10.5.1.7 Qatar
10.5.1.7.1 Qatar Aerospace Materials Market By Type
10.5.1.7.2 Qatar Aerospace Materials Market by Aircraft Type
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Aerospace Materials Market By Type
10.5.1.8.2 Rest of Middle East Aerospace Materials Market by Aircraft Type
10.5.2 Africa
10.5.2.1 Africa Aerospace Materials Market by Country
10.5.2.2 Africa Aerospace Materials Market By Type
10.5.2.3 Africa Aerospace Materials Market by Aircraft Type
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Aerospace Materials Market By Type
10.5.2.4.2 Nigeria Aerospace Materials Market by Aircraft Type
10.5.2.5 South Africa
10.5.2.5.1 South Africa Aerospace Materials Market By Type
10.5.2.5.2 South Africa Aerospace Materials Market by Aircraft Type
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Aerospace Materials Market By Type
10.5.2.6.2 Rest of Africa Aerospace Materials Market by Aircraft Type
10.6 Latin America
10.6.1 Latin America Aerospace Materials Market by Country
10.6.2 Latin America Aerospace Materials Market By Type
10.6.3 Latin America Aerospace Materials Market by Aircraft Type
10.6.4 brazil
10.6.4.1 Brazil Aerospace Materials Market By Type
10.6.4.2 Brazil Aerospace Materials Market by Aircraft Type
10.6.5 Argentina
10.6.5.1 Argentina Aerospace Materials Market By Type
10.6.5.2 Argentina Aerospace Materials Market by Aircraft Type
10.6.6 Colombia
10.6.6.1 Colombia Aerospace Materials Market By Type
10.6.6.2 Colombia Aerospace Materials Market by Aircraft Type
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Aerospace Materials Market By Type
10.6.7.2 Rest of Latin America Aerospace Materials Market by Aircraft Type
11 Company Profile
11.1 Constellium SE
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Alcoa Corporation
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Toray Industries Inc.
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Allegheny Technologies Incorporated
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Solvay S.A.
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Teijin Limited
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Kobe Steel Ltd.
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 NOVELIS
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 AMG N.V. Hexcel
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 DuPont de Nemours Inc.
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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