(MENAFN- EIN Presswire)
Market Size – USD 20.58 billion in 2019, Market Growth - CAGR of 3.8%
NEW YORK CITY, NEW YORK, USA, August 18, 2022 /EINPresswire.com / -- The global aerospace & defense materials market is expected to reach USD 27.44 Billion by 2027, according to a new report by Reports and Data. The growth of the aerospace & defense materials market is owing to the increasing demand for innovative and high-quality metals and alloys in the aerospace and defense industry. Various applications, including carrying of passengers, astronauts, or fighter pilots, increase the market demand for aerospace products, which must comply with the performance and quality of the highest standards under extreme conditions.
Increasing demand for fuel-efficient aircraft is projected to boost the market growth in the upcoming years. The engine is the most sophisticated part of an aircraft, houses the most individual components, and eventually determines fuel efficiency. To meet these temperature demands of aircraft engines like lean-burn engines, with temperature potentials as high as (2,100°C), heat-resistant super alloys (HRSA), including titanium alloys, Titanium 5553 (Ti-5553) which exhibit high strength, lightweight, and excellent corrosion resistance are projected to witness an increase in market demand.
A rapid increase in global passenger and cargo aircraft fleet, along with an increase in the number of passengers, is likely to propel market demand in the future. The passenger and freight traffic is estimated to increase at a modest rate in the upcoming years, and as a result, would fuel the demand for aircraft. An increase in consumer preference for flight transportation in developing regions due to growing living standards, mainly in countries like China and India, the Middle East, and other Asia-Pacific region countries, is anticipated to boost the demand for aerospace & defense materials the for production of aircraft.
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Top 10 Profiled in the Aerospace & Defense Materials Market Report:
•Toray Composites America Inc
•Sabic Innovative Plastics
•Kobe Steel Ltd
•Cytec Solvay Group
•Hexcel Corporation
•Constellium NV
•Huntsman International LLC
•Arconic Inc
•Aleris International Inc
•DowDuPont Inc
Market Segmentation:
Material Type Outlook (Volume, Kilo Tons, 2017-2027, Revenue, USD Million; 2017-2027)
•Composites
•Aluminum
•Titanium
•Plastics
•Super Alloys
•Steel
•Others
Usage Outlook (Volume, Kilo Tons, 2017-2027, Revenue, USD Million; 2017-2027)
•Aircraft Structural Frames
•Propulsion Systems
•Cabin Interiors
•Satellite
•Others
Sector Outlook (Volume, Kilo Tons, 2017-2027, Revenue, USD Million; 2017-2027)
•Commercial
•Business & General Aviation
•Military
•Others
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Key Takeaways of the Aerospace & Defense Materials Market Report:
•A comprehensive overview of the global Aerospace & Defense Materials industry.
•Accurate market projections in terms of market size, share, and volume.
•Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
•Deep-dive analysis of the upcoming market trends.
•Qualitative and quantitative analyses of the Aerospace & Defense Materials Market.
•Elaborate study of the leading regional markets in the Aerospace & Defense Materials Market.
•Complete overview of the market's competitive landscape.
•Brief look at the company profiles and portfolios.
Key Regional Markets Covered in the Report:
•North America
oU.S.
oCanada
oMexico
•Europe
oRussia
oU.K.
oGermany
oFrance
oBENELUX
oRest of Europe
•Asia Pacific
oChina
oJapan
oIndia
oSouth Korea
oRest of Asia Pacific
•Latin America
oBrazil
oRest of Latin America
•Middle East & Africa
oSaudi Arabia
oU.A.E.
oIsrael
oRest of Middle East & Africa
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Tushar Rajput
Reports and Data
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