Market Analysis: Global Aerospace Materials Market
The “Global Aerospace Materials Market” accounted for USD 17.35 billion in 2016 and is projected to grow at a CAGR of 6.7% during the forecast by 2024. The upcoming market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast by 2024.
Major Market Drivers:
- Rising demand of efficient and light weighted aircraft
- Increase in low cost air travel
- Advancements in composites
- Reduced defense spending in developed economies
- Limited range of materials options
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Market Definition: Global Aerospace Materials Market
Aerospace materials are characterized by high strength, heat resistance, and long term reliability. These materials have to pass international quality standards in order to be used in aircraft manufacturing. Growing commercial airline industry has played a key role in the growth of this market. The aircraft industry is dominated by Airbus and Boeing, which occupy the majority of the market.
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- In May 2018, Solvay announced the launch of their FusePly which is a breakthrough bonding technology. By using conventional manufacturing processes it can create reliable and bonded composite. FusePly is lightweight and also provide better performance than the mechanical fasteners. As it doesn’t have fasteners they are light in weight.
- In January 2019, Web Industries announced that they have acquired Omega Systèmes Atlantique and Omega Systèmes Aquitaine. The main aim of the acquisition is to bring advanced materials for the aerospace industries. This will also help the company strengthen them in the market place by providing better services to their customer.
Market Segmentation: Global Aerospace Materials Market
- On the basis of type, global aerospace materials market is segmented into revenue pocket matrix, steel alloys, aluminum alloys, super alloys, titanium alloys and composite materials.
- On the basis ofaircraft type, global aerospace materials market is segmented into commercial, business & general aviation, military and helicopters.
- On the basis of geography, global aerospace materials market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Analysis: Global Aerospace Materials Market
The global aerospace materials market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global Aerospace Materials Market
Some of the major players operating in global aerospace materials market are:-
- BASF SE
- Du Pont
- ASM Advanced Metallurgical Group
- Toray Industries, Inc.
- Cytec Solvay Group
- Alcoa Corporation
- TEIJIN LIMITED
- AMG N.V
- KOBE STEEL LIMITED
- Hexcel Corporation
- TATA Advanced Materials Limited
- Hindalco-Almex Aerospace Limited
- Materion Corporation
- SGL Group
- Constellium, Aleris Inc.
- Koninklijke Ten Cate NV
- Sofitec and Kaiser Aluminum among others.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Global Aerospace Materials Market
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Global Aerospace Materials Market.
- The key findings and recommendations highlight crucial progressive industry trends in the Global Aerospace Materials Market, thereby allowing players to develop effective long term strategies
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the Global Aerospace Materials Market
- The report offers market share appraisals for regional and global levels
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