Composite materials are the most preferred type of aerospace materials

Posted by RahulSharma on January 24th, 2020

The Aerospace Materials Market is projected to reach USD 25.80 Billion by 2022, at a CAGR of 6.9% from 2017 to 2022. In this study, 2016 has been considered as the base year, and the forecast period is from 2017 to 2022.

Browse 94 market data tables and 52 figures spread through 151 pages and in-depth TOC on "Aerospace Materials Market by Type (Aluminium Alloys, Steel Alloys, Titanium Alloys, Super Alloys, and Composite Materials), Aircraft Type (Commercial Aircraft, Business & General Aviation, Helicopters), and Region - Global Forecast to 2022".

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Asia-Pacific is projected to be the fastest-growing aerospace materials market during the forecast period.

Asia-Pacific is projected to be the fastest-growing regional aerospace materials market, in terms of value, and is expected to lead the aerospace materials market during the forecast period. Countries in this region, such as China, Japan, and India are witnessing significant increase in the use of aerospace materials. This increase can be attributed to the growing aerospace industry, which is driving the demand for aerospace materials in the region. Japan and India are attracting investors to set up production facilities because of the ease of availability of raw materials and labour at a lower price. The increasing air traffic and number of low-cost carriers in the region are expected to lead to an increase in the demand for new aircraft in the region during the forecast period. The aerospace materials market is served by various companies that are actively adopting various strategies such as new product development, acquisitions, and joint ventures & partnerships to increase their market shares.

Based on type, the aluminum 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 aluminum 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 aluminum alloys will continue to be the important aerospace materials for the aircraft industry.

Based on aircraft type, the commercial aircraft segment is projected to lead the aerospace materials market from 2017 to 2022. Increasing passenger transport, coupled with an increase in demand for commercial aircraft is expected to propel the aerospace materials market for the commercial aircraft segment during the forecast period.

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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.

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