Aerospace Metal Matrix Composites Market to Reach US$ 176.1 million in 2024

Stratview Research announces the launch of a new research report on Aerospace Metal Matrix Composites (MMCs) Market by Application Type (Airframe, Engine Components, Landing Gears, Avionics, and Others), by Platform Type (Civil Aviation, Military Aviation, and Space), by Matrix Type (Aluminum, Titanium, and Others), by Reinforcement Type (Silicon Carbide, Aluminum Oxide, and Others), by Reinforcement Form Type (Continuous, Discontinuous, and Others), by Process Type (Solid State Processing, Liquid State Processing, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.

This report, from Stratview Research, studies the aerospace metal matrix composites market over the trend period of 2013 to 2018 and forecast period of 2019 to 2024. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Aerospace Metal Matrix Composites (MMCs) Market: Highlights

The insistent need of the aerospace industry to augment the performance of civil, military, and spacecraft is constantly driving the development of high-performance structural materials. Composite materials have earned significant traction in the aerospace industry, owing to its excellent track record of more than five decades. However, the inadequacy of a single or group of materials to fulfill all the stringent requirements of aerospace industry along with keeping a check on both economy and performance has led to an increased focus towards new materials including metal matrix composites. In the last two decades, researchers and manufacturers in the aerospace industry have paid significant attention and interests on MMCs, owing to their exceptional properties and performance.

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The aerospace MMCs market is projected to grow at a healthy rate over the next five years to reach US$ 176.1 million in 2024. Increasing production of composites-rich aircraft coupled with a rising demand for lightweight yet durable parts and increasing space exploration activities are the prime drivers for the sustainable demand for MMCs in the aerospace industry. MMCs have an excellent track record in the automotive industry as the material offers numerous advantages, such as high strength-to-weight ratio, excellent corrosion resistance, excellent fatigue strength, lightweight, and excellent durability, over its rivals including cast iron.

The material is a suitable claimant addressing many challenges of the industry including lightweight products, thus, attracting the stakeholders of the aerospace industry to invest in this unique material. MMCs are increasingly witnessing a greater penetration in not only airframe parts of the next-generation aircraft, but also in other critical applications, such as landing gears and fan exit guide vanes.

The market is segmented based on the platform type as space, civil, and military aviation. Civil aircraft is likely to remain the growth engine of the market during the forecast period. Increasing production rate of the best-selling aircraft program: B787, wherein landing gears are manufactured using MMCs is likely to drive the market for the civil aviation segment during the forecast period. Increasing penetration of MMCs in avionics and recent advancements including the development of robotic arms by TISICS Ltd. are likely to drive the spacecraft segment during the forecast period.

Based on the application type, airframe is likely to remain the most dominant segment during the forecast period, whereas avionics is likely to remain the fastest-growing segment during the same period. Increasing collaboration among market stakeholders, such as Boeing and TISICS Inc. with the help of AMRC to produce titanium composite actuator rods for applications including landing gears, wings, and engines for commercial aircraft assemblies, is likely to increase the penetration of MMCs in the aerospace industry in years to come.

Based on the matrix type, aluminum is projected to remain the most dominant matrix type in the market in the coming five years, whereas titanium is expected to remain the fastest-growing matrix for the same period. Titanium MMCs offer numerous advantages, such as high strength-to-weight ratio, lightweight, high tensile and compressive strength, low coefficient of thermal expansion, and high fatigue resistance. Aluminum is the most widely used MMCs in the aerospace industry, owing to its exceptional properties, which led to its applications in fabricating airframe and interior components.

In terms of region, North America is projected to remain the largest as well as the fastest-growing market worldwide during the forecast period. The USA is likely to remain the growth engine of the region’s market as it is manufacturing hub of the aerospace industry with the presence of major raw material suppliers, metal matrix composite suppliers, tier players, OEMs, airlines, space agencies, private space companies, aircraft leasing companies, and MRO players. Europe is projected to remain the second-largest market for aerospace MMCs during the forecast period. The UK and Russia are the two major contributors to the European market, owing to significant investment in the R&D activities, especially for the aerospace industry.

The supply chain of this market comprises raw material suppliers, composite manufacturers, component manufacturers/ tier players, space companies, aircraft, and spacecraft OEMs, aircraft leasing companies, and MRO companies. The key players in the aerospace MMCs market are Materion Corporation, AMETEK Inc., Powdermet Inc., Alvant Ltd., Triton Systems Inc., DWA Aluminium Composites USA, Inc., Gamma Alloys, The 3M Company, and CPS Technologies Corp.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, Product portfolio, New product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

The aerospace metal matrix composites market is segmented into the following categories.
Aerospace MMCs Market, By Platform Type
• Civil Aircraft
• Military Aircraft
• Space
Aerospace MMCs Market, By Application Type
• Airframe
• Engine Components
• Avionics
• Landing Gear
• Other Components
Aerospace MMCs Market, By Matrix Type
• Aluminum
• Titanium
• Others
Aerospace MMCs Market, By Reinforcement Type
• Silicon Carbide
• Aluminum Oxide
• Others
Aerospace MMCs Market, By Reinforcement form Type
• Continuous
• Discontinuous
• Others
Aerospace MMCs Market, By Processing Type
• Solid State Processing
• Liquid State Processing
• Others
Aerospace MMCs Market, By Region
• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: France, Germany, the UK, Russia and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Latin America, the Middle East, and Others)

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This release was published on openPR.