Reports And Data

Aerospace & Defense Materials Market Size – USD 20.58 billion in 2019, CAGR of 3.8%, Increasing demand for new aircraft for military and commercial use

NEW YORK, NY, UNITED STATES, February 12, 2022 /EINPresswire.com/ -- Growing demand for lightweight and fuel-efficient aircraft is one of the significant factors influencing the market growth.

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.

Key participants include 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., and DowDuPont Inc., among others.

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Further key findings from the report suggest

• By material type, composites contributed to the largest market share in 2019 and is expected to grow at a rate of 3.9% in the forecast period. In comparison to other materials, including aluminum and steel, composites are exceptionally strong and may be engineered to be strong in the desired direction. For instance, the high strength of carbon fibers is essential for structural components of aircraft, including wings, floor beams, and stabilizers. Also, composites can resist damage from corrosion from chemicals and moisture that would damage other kinds of materials.
• By usage, structural frames dominated the market in 2019. Structural airframe applications comprise wing structures, critical fasteners, landing gear components, springs, and hydraulic tubing, precisely its strength to weight ratio.
• By sector, the use of aerospace & defense materials in the commercial sector held the largest market share in 2019 and is estimated to grow at a rate of 4.3% in the forecast period. An increase in travel rates, especially in developing countries and a rise in the level of disposable income, are causative of the growth of commercial aircraft worldwide. The manufacturers are emphasizing solutions to cater to the requirement for weight-reduction and increased fuel-efficiency.
• The market in the APAC region is likely to grow at the fastest rate of 5.0% in the forecast period. Growing demand for aircraft from the APAC region, particularly in developing countries like China and India, is the major growth driver of the aerospace materials industry.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/aerospace-and-defense-materials-market

For the purpose of this report, Reports and Data have segmented the global aerospace & defense materials market on the basis of material type, usage, sector, and region:

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

Regional Outlook (Volume, Kilo Tons, 2017-2027, Revenue, USD Million; 2017-2027)

North America
Europe
Asia Pacific
Latin America
MEA

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Table of Content:

Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique
Chapter 2. Executive Summary
    2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Aerospace & Defense Materials Segmentation & Impact Analysis
    4.1. Aerospace & Defense Materials Material Segmentation Analysis
    4.2. Industrial Outlook
          4.2.1. Market indicators analysis
          4.2.2. Market drivers analysis
    4.3. Technological Insights
    4.4. Regulatory Framework
    4.5. ETOP Analysis
    4.6. Porter’s Five Forces Analysis
    4.7. Competitive Metric Space Analysis
    4.8. Price trend Analysis
    4.9. Customer Mapping

Continue…

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Tushar Rajput
Reports and Data
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