The global aerospace materials market size reached US$ 23.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 32.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2023-2028.
Aerospace materials are metal alloys with high tensile strength, superior temperature tolerance, enhanced transparency and hard surface, which are used for different aerospace purposes. They comprise high-strength steels, composites, and aluminum and titanium alloys. They are lightweight and consequently help reduce global warming, environmental pollution, and fuel consumption. In addition, they assist in improving flight performance through better acceleration, higher structural strength and stiffness, and enhanced safety performance. As a result, aerospace materials find extensive applications in rotorcraft and commercial, military and space aircraft.
Aerospace Materials Market Trends:
At present, there is a rise in the demand for fuel-efficient and lightweight aircraft across the globe. This, along with the growing utilization of commercial aircraft to haul passengers and freight between selected airports, represents one of the key factors driving the market. Moreover, governments of several countries are extensively investing in the defense industry to enhance the function and structure of aircraft. This, coupled with the rising utilization of composites in aircraft manufacturing to provide high structural strength, is propelling the growth of the market. In addition, the escalating demand for single-aisle aircraft for commercial purposes is offering lucrative growth opportunities to key market players. Besides this, the growing utilization of unmanned aerial vehicles (UAVs) for real-time surveys, site surveillance, and making quick visits to collect data and information is positively influencing the market. Additionally, the expanding aerospace industry due to increasing air traffic around the world is catalyzing the demand for aerospace materials. Apart from this, the rising usage of the internet of things (IoT) enabled sensing devices in aircraft functions, components, and the body is bolstering the market growth. Other growth-inducing factors are rising research and development (R&D) activities, rapid modernization, and technological advancements.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global aerospace materials market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, aircraft type and application.
Breakup by Type:
Breakup by Aircraft Type:
Business and General Aviation
Breakup by Application:
Tail and Fin
Windows and Windshields
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Allegheny Technologies Incorporated, Arkema S.A., BASF SE, DuPont de Nemours Inc., Hexcel Corporation, Kaiser Aluminum Corporation, Materion Corporation, Mitsubishi Chemical Holdings Corporation, R?chling SE & Co. KG, SGL Carbon SE, Solvay S.A., Sumitomo Bakelite Company Limited and Toray Industries Inc.
Key questions answered in this report:
How has the global aerospace materials market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global aerospace materials market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the aircraft type?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global aerospace materials market and who are the key players?
What is the degree of competition in the industry?