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Business & General Aviation segment is projected to lead the aerospace materials market

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Rohna Patnakar
Business & General Aviation segment is projected to lead the aerospace materials market

The global aerospace materials market is projected to reach USD 25.80 Billion by 2022, at a CAGR of 6.9% from 2017 to 2022. Increased passenger transportation is projected to enhance the aircraft production industry, which will further drive the demand for aerospace materials.

Based on type, the aluminium alloys segment is expected to lead the aerospace materials market during the forecast period. Increasing demand from aircraft production industry is resulting to an increase in the consumption of aerospace materials globally. The share of aluminium alloys in the aerospace materials is expected to decline in future owing to the increasing use of composite materials. However, high-strength and low fatigue aluminium alloys will continue to be the important aerospace materials for the aircraft industry.

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Toray Industries, Inc. (Japan), Alcoa Corporation (U.S.), Cytec Solvay Group (Belgium) are identified as the major players in the aerospace materials market. These companies have a strong product portfolio as well as a robust business strategy to achieve continued growth. For instance, Alcoa Corporation (U.S.) and Toray Industries, Inc. (Japan) offer various types of aerospace materials. In 2011, Solvay S.A. (Belgium) acquired Cytec (U.S.). This acquisition helped Solvay to become the second-largest company in the aerospace composite materials market globally.

Du Pont (U.S.), Teijin Limited (Japan), ATI Metals (U.S.), Constellium N.V. (Netherlands), AMG N.V. (Netherlands), Hexcel Corporation (U.S.), ThyssenKrupp Aerospace (Germany), Koninklijke Tencate N.V. (Netherlands), SGL Group (Germany), and VSMPO-AVISMA Corporation (Russia) are identified as dynamic players in the aerospace materials market. These companies also have a strong foothold in the aerospace materials market with the help of various strategies such as mergers & acquisitions, investments & expansions, and agreements & partnerships. DuPont acquired BAE Systems Tensylon High-Performance Materials, Inc. (U.S.), a prominent manufacturer of carbon fiber composites. DuPont, in collaboration with these industry players, is expected to develop new products, thereby penetrating further in the aerospace materials market. Constellium N.V. has invested heavily in the development of its unique technology AIRWARE to revolutionize the aerospace industry. This new technology has been a huge success and has been adopted by various major aircraft manufacturers. The company has supply contracts with Airbus (U.S.) and Bombardier (Canada) which is viewed as a strategic step for future growth by many industry experts.

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