Aerospace Raw Materials Market Outlook - 2027
Aerospace materials are materials that have been specially developed for aerospace applications. These offer an exceptional performance and strength or heat resistance. Also, they are chosen for their long-term reliability in this safety-conscious field, particularly for their resistance to fatigue.
Aluminum, titanium, graphite, fiberglass, nickel 718, titanium 6Al4V, stainless, and many more are such material used extensively in aerospace as raw materials.
COVID-19 scenario analysis:
- The global market for aerospace materials is severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of aerospace materials, which negatively impact the market growth.
- Also, many small vendors and OEMs of aerospace raw materials market are unable to do business due many structural constraints such as absence of liquidity in market, business restrictions due to COVID-19.
- However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Aerospace material are significant determinants of any aircrafts efficiency and strengths. Those materials are used that reduces weight and increases fuel efficiency while being easy to handle, and also give aircrafts a good design, shape, and repair.
Aerospace material was only considered for light structural pieces or cabin components, composites’ aerospace application range, however now their application has increased in aerospace sectors. They have reached into true functional components – wing and fuselage skins, engines, and landing gear. Therefore aerospace material is great factor for aircraft sector. This is the biggest driving factor for aerospace raw material market.
Moreover, Metallic and composite materials alike continue to be developed and improved to offer ever-increasing performance, whether that’s lighter weight, greater strength, or better heat and corrosion resistance. Accelerating this evolution of new materials, advancements in machining and cutting technology give manufacturers unprecedented access to materials previously deemed impractical or too difficult to machine.
Additionally, new material adoption is happening exceptionally quickly in aerospace, requiring DFM-minded interaction between material characteristics and component design. The two must be in balance, and one can’t really exist outside of the context of the other.
Furthermore, raw materials used in aerospace provide aircraft good fatigue strength, corrosion resistance, weld ability and machinability. All these factors are taken into consideration, while using in aerospace industry.
Military aircraft or special mission aircrafts are meant to serve tough terrain during emergency situation like war, flood, fire and others. Only those aircrafts would be able to perform well which are manufactured with finer and appropriate raw materials.
Use of 3D printing for making lighter aircraft
With the ability to create complex designs, lightweight parts and reduce production costs, 3D printing offers many advantages for the aerospace industry.
Using this technology, complex geometries can be created without having to invest in expensive tooling equipment. This offers aerospace OEMs and suppliers a cost-effective way to produce small batches of parts. Titanium is one of the most popular materials for 3D printing aerospace components, as it combines the lightness of aluminum with the strength of steel. Although titanium powders are quite expensive, the cost can be partially balanced by recycling unused material and minimizing waste through better designs possible with AM.
Recently, Boeing has introduced GE9X engine with the help of 3D printing technique. The new Boeing 777X plane incorporates a number of new design features for larger cabin capacity and improved hangar storage. Small components, including temperature sensors and fuel mixers, and larger parts, like heat exchangers and separators are also 3D printed. Foot-long low pressure turbine blades in the GE9X are also 3D printed, reducing overall engine weight and maximizing size and power.
The 3D printed fuel nozzle inside the GE9X was 3D printed by Morris Technologies, which was acquired by GE in 2012. Other components in the engine were 3D printed by GE Additive on Concept Laser machines.
Key benefits of the report:
- This study presents the analytical depiction of the aerospace raw materials market for military and aerospace along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the aerospace raw materials market for military and aerospace share.
- The current market is quantitatively analyzed to highlight aerospace raw materials market for military and aerospace.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed aerospace raw materials market for military and aerospace analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in aerospace raw materials market for military and aerospace report:
- Which are the leading players active in the aerospace raw materials market for military and aerospace?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Aerospace Raw Materials Market Report Highlights
By Aircraft Types
By Metal type
Key Market Players
Toray Industries, Inc., Solvay S.A., Constellium SE, TIMET (Berkshire Hathaway Inc.), Alcoa Corporation, Allegheny Technologies, Inc., VSMPO-AVISMA Corporation, Hexcel Corporation, Carpenter Technology Corporation, Kaiser Aluminum