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Pune, India, Dec. 06, 2021 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global aerospace materials market size was worth USD 34.8 billion and is expected to register an annual growth rate of 8.8% during 2021-2027, thereby amassing USD 62.8 billion by the end of the analysis timeline.
Furthermore, a comprehensive overview of the performance of each regional market is elucidated in the document. It also scrutinizes the competitive arena of the marketplace while highlighting the major market players and crucial information related to them. Lastly, it sheds light on the effective strategies undertaken by the mentioned industry participants to expand their reach and garner substantial returns.
Escalating demand for fuel-efficient and lightweight aircrafts, emergence of low-cost carriers, increasing air passengers, and rising popularity of UAVs are major factors aiding towards the overall industry expansion.
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For the unversed, aerospace materials are metal alloys that are predominantly used in the aerospace sector. These materials are generally used for their long-term reliability and ability to provide strength, heat and fatigue resistance to the aircrafts.
In addition, strategic moves by market players to increase the penetration of aerospace materials is further adding momentum to global aerospace materials market progression. In 2019 for instance, Japanese company Teijin Limited inked an agreement with Aerospace major The Boeing Company to supply TENAX TPUD which is a unidirectional impregnated tape. This in turn helped the company to record considerable growth in the aircraft business.
On the contrary, high costs associated with using advanced aerospace materials might hamper the remuneration scope of the marketplace in the ensuing years.
Expounding the geographical ambit
North America, Europe, Asia Pacific, and Latin America are considered to understand the regional dynamics of this business sphere. Among these, Europe presently holds a significant share in terms of market revenue owing to high demand of aerospace materials business as well as commercial aircrafts and technological advancements in the field.
A summary of the competitive arena
Key players operating in global aerospace materials market are Novelis Inc., AMG Advanced Metallurgical Group N.V., Kobe Steel Ltd., Constellium SE, Allegheny Technologies Incorporated, Teijin Limited, Alcoa Corporation, DuPont de Nemours Inc., Solvay S.A., and Toray Industries Inc.
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The above-mentioned companies are implementing effective strategies like mergers & acquisitions, novel product launches, research & development investments, collaboration deals, and partnerships to strengthen their foothold in the overall market.
Global Aerospace Materials Market by Type (Revenue, USD Billion, 2018-2027)
- Steel Alloys
- Aluminum Alloys
- Super Alloys
- Titanium Alloys
- Composites
- Others
Global Aerospace Materials Market by Aircraft Type (Revenue, USD Billion, 2018-2027)
- Commercial Aircraft
- Military Aircraft
- Helicopters
- Business & General Aviation
- Others
Global Aerospace Materials Market Regional Analysis (Revenue, USD Billion, 2018-2027 )
North America
Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
Rest of The World
Global Aerospace Materials Market Competitive Arena (Revenue, USD Billion, 2018-2027)
- Novelis Inc.
- AMG Advanced Metallurgical Group N.V.
- Kobe Steel Ltd.
- Constellium SE
- Allegheny Technologies Incorporated
- Teijin Limited
- Alcoa Corporation
- DuPont de Nemours Inc
- Solvay S.A.
- Toray Industries Inc.
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Aerospace Materials Market, by Region, 2019-2027 (USD Billion)
1.2.2. Aerospace Materials Market, by Type, 2019-2027 (USD Billion)
1.2.3. Aerospace Materials Market, by Aircraft Type, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Aerospace Materials Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Aerospace Materials Market Dynamics
3.1. Aerospace Materials Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Increasing demand for more fuel-efficient and lightweight aircraft
3.1.1.2. Emergence of low - cost carriers boosting heavy passenger transportation
3.1.2. Market Restraint
3.1.2.1. Higher costs of advanced aerospace materials
3.1.3. Market Opportunities
3.1.3.1. Growing UAV market
Chapter 4. Global Aerospace Materials Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Aerospace Materials Market, by Type
a. Market Snapshot
5.1. Global Aerospace Materials Market by Type, Performance - Potential Analysis
5.2. Global Aerospace Materials Market Estimates & Forecasts by Type 2018-2027 (USD Billion)
5.3. Aerospace Materials Market, Sub Segment Analysis
5.3.1. Aluminum Alloys
5.3.2. Titanium Alloys
5.3.3. Steel Alloys
5.3.4. Super Alloys
5.3.5. Composites
5.3.6. Others
Chapter 6. Global Aerospace Materials Market, by Aircraft Type
b. Market Snapshot
6.1. Global Aerospace Materials Market by Aircraft Type, Performance - Potential Analysis
6.2. Global Aerospace Materials Market Estimates & Forecasts by Aircraft Type 2018-2027 (USD Billion)
6.3. Aerospace Materials Market, Sub Segment Analysis
6.3.1. Commercial Aircraft
6.3.2. Business & General Aviation
6.3.3. Military Aircraft
6.3.4. Helicopters
6.3.5. Others
Chapter 7. Global Aerospace Materials Market, Regional Analysis
Related Report:
Aerospace Composites Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
The aerospace composite market is projected to grow substantially by 2027 owing to consistently evolving defense sector across key regions. Composite materials play a vital role in weight reduction and are used across aerospace in a wide range of applications such as interiors, side body wings, propellers, rotors, and engine blades, among others. Composite materials provide several structural advantages like high impact resistance, weight reduction, and corrosion resistance. Surging demand for fuel-efficient aircrafts has spurred extensive R&D activities worldwide, focusing on the development of improved composite materials. From the regional point of view, the Latin America aerospace composite market is speculated to grow considerably at a CAGR of approximately 6.0% through the assessment period, on account of increasing FDI in the region. Low manufacturing wages and free trade is set to drive industry growth in the coming years.
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