The Aerospace Materials Global Market Report 2023 by The Business Research Company, provides aerospace materials market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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As delineated in The Business Research Company's expansive Aerospace Materials Global Market Report 2023, the trajectory of the global aerospace materials market is poised for advancement. From $19.68 billion in 2022, the market is forecasted to reach $20.46 billion in 2023, manifesting a commendable compound annual growth rate (CAGR) of 3.9%. The ramifications of the Russia-Ukraine conflict, however, have cast a shadow on immediate global economic recovery post-COVID-19. This geopolitical turmoil has triggered economic sanctions, heightened commodity prices, and instigated supply chain disruptions, fostering inflation across various sectors worldwide. The aerospace materials market is projected to burgeon further, reaching an estimated $25.69 billion in 2027, with a CAGR of 5.9%.
An instrumental driver of this growth is the escalating demand for lightweight and fuel-efficient aircraft. The imperative to meet stringent pollution control standards has catalyzed a surge in demand for aircraft characterized by enhanced fuel efficiency. Aerospace materials, characterized by lower weight compared to traditional metals coupled with robust strength, play a pivotal role in mitigating the overall weight of aircraft. This, in turn, aids in adhering to emission limits and advancing fuel efficiency—an essential consideration in the contemporary aviation landscape.
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The aerospace materials market is segmented:
1) Aerospace Materials Market By Type: Aluminum Alloys, Steel Alloys, Titanium Alloys, Super Alloys, Composites
2) Aerospace Materials Market By Aircraft Type: Commercial Aircraft, Business and General Aviation, Civil Helicopters, Military
3) Aerospace Materials Market By Application: Aero Structure, Components, Cabin Interiors, Propulsion System, Equipment, System, and Support, Satellites, Construction and Insulation Components
The development of carbon fiber composites for making various aerospace structures and parts is an emerging trend in the aerospace materials market. Carbon fiber is a material composed of carbon atoms arranged in long, thin crystals that can be molded with epoxy into practically any shape, even designs that are impossible to achieve with metals or without welding many sections together and creating weak points. Due to the lightweight, durable, corrosion-resistant, and temperature-resistant properties of carbon fiber, manufacturers of aerospace materials are focused on developing carbon fiber structures for various aerospace applications. For instance, in August 2021, Markforged, a US-based additive manufacturing company specializing in the development and manufacturing of digtal forge, launched Onyx FR-A and Carbon Fiber FR-A based on fiber reinforcement technology. These two materials are lightweight, efficient to reduce fuel consumption and improve engine performance, and used in various parts of aircraft interiors.
The aerospace materials market report table of contents includes:
1. Executive Summary
2. Aerospace Materials Market Characteristics
3. Aerospace Materials Market Trends And Strategies
4.Aerospace Materials Market – Macro Economic Scenario
5. Aerospace Materials Market Size And Growth
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26. Africa Aerospace Materials Market
27. Aerospace Materials Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Aerospace Materials Market
29. Aerospace Materials Market Future Outlook and Potential Analysis
30. Appendix
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The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities & restraints, and detailed information about the market structure.
Aerospace Materials Market study presents exclusive information about how the market will grow during the forecast period.Global aerospace materials market is registering a steady CAGR of 7.30% in the forecast period of 2019-2026.
The report contains data of the base year 2018 and historic year 2017For In-Depth Review | Get Sample PDF@ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-aerospace-materials-marketMarket Definition: Global Aerospace Materials MarketAerospace materials are usually metal alloys which have acquired popularity for the aerospace sector or have been created.
These materials should have strength, thermal resistance, and light weight characteristics.
In addition, strength to prevent corrosion and fatigue resistance is the characteristics that these materials must have.Top Competitors of MarketFew of the major competitors currently working in the global aerospace materials market are Alcoa Corporation, Aleris Corporation, AMG Advanced Metallurgical Group, AMI Metals, Air Transport International, Inc., Avdel, Constellium, Solvay, DOW, Hexcel Corporation, Hindalco - Almex Aerospace Limited, Kaiser Aluminum, KOBE STEEL, LTD, Koninklijke Ten Cate bv., Lee Aerospace, Materion Corporation, PARK AEROSPACE CORP, Renegade Materials Corporation, SGL Carbon, TATA Advanced Materials Limited., Sofitec Aero, S.L.Competitive Analysis:Global aerospace materials market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
The report includes market shares of aerospace materials market for Global, Europe, North America, Asia-Pacific, South America and Middle East & AfricaWant Full Report?
