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2019
Aerospace Materials Market

Aerospace Materials Market

by Type (Composite, Metal, and Plastic), Application (Interior and Exterior), and Type of Aircraft (Commercial, Military, Rotorcraft, and Space): Global Opportunity Analysis and Industry Forecast, 2019-2026
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Report Code: A05911
Pages: 521
Dec 2019 | 6523 Views
Author(s) : Yamini P , Eswara P
Tables: 557
Charts: NA
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Aerospace Materials Market Outlook: 2026

Global aerospace materials market was valued at $3,950 million in 2018, and is expected to reach $6,518.5 million by 2026, registering a CAGR of 6.5% from 2019 to 2026. 

Aerospace materials are materials that are deployed for various aerospace purposes, as they offer enhanced properties such as high tensile strength, superior temperature tolerance, enhanced transparency, and hard surface. The aerospace manufacturers are shifting their preference toward materials such as advanced plastics, carbon or glass based fiber composites in the construction of aircraft parts such as airframes, windows, interiors, engine components, propulsion systems, mirrors, and ceilings, thereby replacing conventional metals. 

Aerospace Materials Market

The factors that drive the growth of the global aerospace materials market include increase in demand for lightweight and fuel-efficient aircraft. As the reduction in weight of the aircraft significantly impacts the operating costs of the flight and also offers increased fuel-efficiency, benefitting the flight operators. In addition, upsurge in air passenger traffic in emerging regions such as Asia-Pacific leads to increase in fleet sizes, which proles the need for aerospace materials. Moreover, rise in demand for new aircraft acts as a key driver of the aerospace materials market. However, availability of limited option for designing of complex structures hampers the aerospace materials market growth. On the contrary, rise in demand for commercial aircraft in emerging economies is resulting in increased production of such aircrafts, offering vast opportunities for the materials manufacturer. 

The aerospace materials market is segmented into type, application, type of aircraft, and region. On the basis of type, the market is categorized into composites, metals, and plastics. The composite segment is further divided into resins and fiber. The applications covered in the study include interior and exterior. Depending on type of aircraft, the market is segregated into commercial, military, rotorcraft, and space. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The aerospace materials market analysis covers in-depth information about major industry participants. Some of the major players in the market include Mitsubishi Chemical Holdings Corporation, PPG Industries Inc., DuPont, Solvay, SABIC, Sumitomo Bakelite Co. Ltd., Toray Industries Inc., Röchling, Hexcel Corporation, and SGL Carbon. These players have adopted several strategies such as new product launch, agreement, acquisition, partnership, and expansion to sustain the intense competition in the market. Acquisition was the most adopted strategy by major known players. 

Aerospace Materials Market
By Type

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Composites is projected as the most lucrative segment.

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Depending on type, for year 2108, the composite segment garnered the highest market share, followed by metals, and is expected to grow at higher CAGR, owing to increase in replacement of conventional materials with carbon, glass, or aramid based fiber-reinforced composites for manufacture of complex structural designs. 

Aerospace Materials Market
By Application

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Exterior segment occupied the largest share in 2018 and is expected to maintain the lead over the forecast period.

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On the basis of application, the exterior segment dominated the market in 2018 by garnering highest share in terms of revenue, and is expected to grow at a considerable CAGR. The exterior segment comprises propulsion system, windows & windshield, airframe, and tail & fin otherwise known as empennage which require large use of materials as they comprise of most of the aircrafts body.

Aerospace Materials Market
By Type Of Aircraft

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Space segment is projected is projected to grow at the fastest rate during the forecast period.

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By aircraft, the commercial segment garnered a dominant share in 2018, and is anticipated to maintain its dominance during the forecast period. This is attributed to increase in air passenger traffic, which boosts the demand for commercial aircraft. Thus, rise in demand for commercial aircraft in emerging economies correspondingly increases the need for aerospace materials.

Aerospace Materials Market
By Region

2026
Europe 
North America
Asia-pacific
Lamea

Europe holds a dominant position in 2018 and would continue to maintain the lead over the forecast period.

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Region wise, Europe acquired the 34% share in 2018, in terms of revenue. This is attributed to factors such as presence of key players in the region and rise in number of commercial flights due to increase in tourism. However, Asia-Pacific region is expected to grow at highest rate during forecast period, owing to increase in demand for commercial aircraft in the region.

Key Benefits for Stakeholders

  • The report provides an in-depth analysis of the forecast along with the current and future aerospace materials market trends.
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
  • Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the aerospace materials industry for strategy building.
  • A comprehensive analysis of the factors that drive and restrain the aerospace materials market growth is provided.
  • The qualitative data in this report aims on market dynamics, trends, and developments.

Aerospace Materials Market Report Highlights

Aspects Details
By Type
  • Composite
    • Resin
    • Fiber
  • Metal
    • Aluminum
    • Steel
    • Titanium
  • Plastic
    • PEEK
    • PMMA
    • ABS
    • PC
    • PPS
    • Others
By Type Of Aircraft
  • Commercial
  • Military
  • Rotorcraft
  • Space
By Application
  • Interior
    • Passenger Seating
    • Galley
    • Interior
    • Panels
    • Others
  • Propulsion Systems
    • Airframe
    • Tail & Fin
    • Windows & Windshields
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players Solvay SA, SABIC, Röchling, Mitsubishi Chemical Holdings, PPG Industries, Inc., Sumitomo Bakelite Co. Ltd., Toray Industries Inc., Hexcel Corporation, SGL Carbon SE, DuPont
 

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The global aerospace materials market is anticipated to grow at a considerable rate during the forecast period. This is attributed to rise in demand for aerospace materials from developing economies, owing to increase in investment in the aerospace sector. Moreover, presence of key players in the developed regions such as North America has significantly contributed toward the market growth. Furthermore, technological advancements in the aerospace industry and continuous efforts to reduce the weight to cost ratio of aircraft have boosted the adoption of aerospace materials, thereby supplementing the market growth. Moreover, replacement and modernization of old aircraft in order to conform to the stringent regulations enforced by several governing bodies toward safety and security of passengers has positively impacted the market growth. The vast use of several polymers, composites, metals & alloys owing to their enhanced properties and added benefits of fuel efficiency further drives the market growth. In addition, materials such as composites, plastics, and enhanced metals have found major application in space aircraft owing to the fact that they can sustain extreme weather conditions in space and radiations. The aerospace materials market is anticipated to grow at steady pace owing to new found application of several composites and plastics, which are widely being adapted in the industry owing to their benefits such as cost efficiency, fuel efficiency, and reduced carbon footprint.

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