Defense Aircraft Market Expansion to be Persistent During 2018 - 2028

Defense aircraft materials are high-performance, light-weight materials suitable for aircraft manufacturing. Along with properties such as cost, mechanical performance and ease of installation, other specialized properties are also considered for product selection such as resistance against cracking, thermal shock resistance, thermal expansion, flammability and stealth. Among all these properties, strength allied with lightness is among the most important properties for defense aircraft materials. Moreover, the reliability of materials under extreme conditions is critical for defense aircraft materials. Aluminum is considered to be ideal for defense aircraft materials, owing to its properties such as light weight, strength and corrosion resistance. However, defense aircraft materials have witnessed considerable evaluations in the recent years. Defense aircraft materials such as steel and aluminum are increasingly being replaced by low density alloys and advanced composites such as carbon fiber. Composites are the most important materials adopted in the aircraft industry. The global defense aircraft materials market is characterized by innovation and technological advancement, which are driving the industry.

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Defense Aircraft Materials Market: Market Dynamics

Some of the key driving factors for the defense aircraft materials market include rising global security issues, technological advancements and robust economic growth. Favored by government initiatives and support, the defense aircraft materials market is expected to witness significant innovation over the coming years. Moreover, increase in defense spending by several countries is a key driver factor for the increasing demand for defense aircraft materials. The defense aircraft materials market is characterized by low competitive rivalry. Moreover, aircraft manufacturers tend to maintain long-term agreements with defense aircraft materials market participants for reliable supply, which further reduces competitive rivalry. Further, close collaborations between defiance aircraft material manufacturers, end-users and government agencies lead to material innovation. Some of the factors that might restrain the growth of the defense aircraft materials market include the high cost of materials and complex production technology.

Technological advancement and development of additive manufacturing & powder metallurgy are among the key factors driving the defense aircraft materials market. Key market participants are investing on the development of sophisticated technologies and high-performance materials so as to strengthen their market positions. Further, in sync with market demand, market participants are emphasizing on the development of lightweight materials. Other prominent trends observed in the defense aircraft materials market include the utilization of nanotechnologies, incorporation of new materials, fabrication processes and structural concepts to realize performance & cost benefits of defense aircraft materials. Lightweight defense aircraft materials are expected to witness significant growth, driven by the increasing demand for fuel-efficient and long haul aircraft.

Defense Aircraft Materials Market: Segmentation

Based on type, the global defense aircraft materials market has been segmented as:

Aluminum alloys
Steel Alloy
Titanium Alloys
Composite Materials
Based on application, the global defense aircraft materials market has been segmented as:

Transport Aircraft
Combat Aircraft
Helicopters
Defense Aircraft Materials Market: Regional Outlook

North America, led by the U.S., is expected to dominate the global defense aircraft materials market. The defense aircraft market in the region is expected to witness significant growth and innovation, supported by increasing government investments in the defense sector and various agencies such a DARPA (Defense Advanced Research Projects Agency). The Asia Pacific defense aircraft materials market is expected to follow the North America market in terms of market size. Moreover, Asia Pacific is expected to be an opportunistic market witnessing tremendous growth during the forecast period, primarily owing to the increasing government spending on the defense sector by countries such as India and China. The Europe defense aircraft materials market is expected to expand with a steady growth rate and is expected to be characterized by innovation due to the increasing demand for durable, accurate and reliable materials.

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Defense Aircraft Materials Market: Market Participants

Some examples of market participants involved in the defense aircraft materials market are:

Hexcel Corporation
Constellium
Rogers Corporation
Magnesium Elektron
L. Gore & Associates, Inc.
Toray Composite Materials America, Inc.

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This release was published on openPR.