Aerospace Materials Market Scope
Rising demand for military services will help to fuel the global aerospace material market in the forecasted period. Aerospace materials are materials, normally metal alloys, which is used for aerospace purposes. There are various metals used in aerospace material including aluminum, steel, titanium, composite materials, and others. Aluminum is most prominently used aerospace material. the growing demand for passenger aircraft because affordable carrier in emerging nations will help to expand the global aerospace material market.
The market study is being classified by Type (Aluminium Alloys, Steel Alloys, Titanium Alloys, Super Alloys, Composite Materials and Other), by Application (Aerostructure, Components, Cabin Interiors, Propulsion System, Equipment, System, & Support, Satellites and Construction & Insulation Components) and major geographies with country level break-up. According to AMA, the Global Aerospace Materials market is expected to see growth rate of 6.54%
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Aerospace Materials market throughout the predicted period.
Toray Industries, Inc. (Japan), Cytec Solvay group (Belgium), Alcoa Corporation (United States), Du Pont (United States), Teijin Ltd. (Japan), Kobe Steel Ltd (Japan), Constellium N.V. (Netherlands), ATI Metals (United States), 3M (United States) and Henkel AG & Co. KGaA (Germany) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Hexcel Corporation (United States), Huntsman International LLC (United States) and Aleris Corporation (United States).
AdvanceMarketAnalytics has segmented the market of Global Aerospace Materials market by Type, Application and Region.
On the basis of geography, the market of Aerospace Materials has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Aircraft Type, the sub-segment i.e. Military Aircraft will boost the Aerospace Materials market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Interior Parts will boost the Aerospace Materials market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 17th July 2018, Toray Industries, Inc. A global leading supplier of carbon fiber, as well as composite, has acquired Koninklijke Ten Cate B.V., a leading carbon-fiber composite material manufacturer. The deal was established for 930 million dollars.
On 8th January 2018, Solvay the global leading chemical provider has signed an agreement with Boeing. The deal was established for the supply of advanced composites and adhesives in support of the 777X airplane production.
- Growing Passenger Transportation in the Developing Nations
- Rising Demand Due To the High Thrust-To-Weight Ratio in Aircraft Engines
- High Adoption of More Efficient As Well As Lightweight Aircraft
- High Demand for Aircraft in the Military Services
- Upsurging Demand of Commercial Aircraft in Emerging Countries
- Reduced Defense Spending In Developed Countries
- High Maintains Cost of Aerospace Materials
- Strengthen Government Regulations
Key Target AudienceAerospace Materials Manufacturers, Aerospace Materials Traders, Distributors, and Suppliers, Government and Research Organizations, Associations and Industrial Bodies, Research and Consulting Firms, R&D Institutions, Environment Support Agencies and Others
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