Aerospace Materials Market Size, Status and Business Growth 2020 to 2026
The global aerospace materials market is estimated to witness a healthy growth, at an estimated CAGR of over 6%, over the forecast period.
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Key Market Players:
3M, Henkel AG & Co. KGaA, Solvay, Huntsman International LLC, and Hexcel Corporation and Other
The leading players of the Aerospace Materials industry, their market share, product portfolio, company profiles are covered in this report. The leading market players are analyzed on the basis of production volume, gross margin, market value, and price structure. The competitive market scenario among Aerospace Materials players will help the industry aspirants in planning their strategies. The statistics offered in this report will be a precise and useful guide to shape business growth.
Jun 4, 2019: Henkel opens new European hub for high-performing aerospace solutions
The Adhesive Technologies business unit today has officially inaugurated its new production facility for aerospace applications at the Henkel site in Montornès del Vallès (Montornès), Spain. With the investment of about 35 million euros, the company aims to serve the constantly growing demand for high-performance solutions supporting key trends in the global aerospace industry such as light weighting, fuel efficiency and automation. During the opening event Henkel welcomed the mayor of Montornès and the German Counsel General as well as customers and presented the state-of-the-art building meeting the highest standards for sustainability.
May 17: 3M Aerospace will introduce exciting new offerings to attendees of the Society for the Advancement of Material and Process Engineering (SAMPE) 2012 Conference, to be held May 21-24 in Baltimore, Md. The company’s leadership in flame resistance (FR) will take center stage, as a 3M scientist leads a session on Fire Safety and several new products are introduced.
Key Market Trends
Increasing Demand from General and Commercial Aircrafts
- The total business and general aviation aircraft market is projected to witness a healthy growth, with the delivery levels estimated to reach nearly 8% by 2020, and the majority of the demand coming from large-cabin airplanes.
- Honeywell estimates that nearly 7,700 new aircraft deliveries are projected to be witnessed by 2028.
- Many operators have plans to replace their existing fleet, in order to cater to the growing consumer demand in developed economies.
- Around 25% of the new business jet purchases are projected to be witnessed by 2022, with a large focus on super-mid-size aircraft.
- Favorable exchange rates and innovations in aircraft models are projected to augment the demand for long-range business jets at a moderate rate in the long-term.
- North America and Europe account for the largest demand for business and general aviation fleet, while the growth in the Asia-Pacific and Latin American region is projected to be more or less stagnant, during the forecast period.
- The purchase plans of new business aircraft in the Middle East & African region have lately been impacted by the ongoing political tensions and other conflicts in the region.
- Such factors are expected to create moderate growth in the demand for aerospace materials during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy, in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The countrys manufacturing sector is one of the major contributors to the countrys economy.
- China has been a key contributor to global air traffic growth, since the past five years. The average passenger growth rate has been over 10% per year. This growth is primarily driven by rising passenger traffic, due to higher spending power and better air connectivity. Thus, increasing passenger traffic is expected to boost the demand for aircraft.
- In addition, Boeing estimated that the domestic average revenue passenger kilometer growth rate, in China, is expected to increase at an annual rate of 6.1% in the next 10 years.
- Since the past five years, the total civil aircraft fleet had been increasing steadily in the country. Moreover, in the next 20 years, the Chinese airline companies are planning to purchase about 7,690 new aircraft, which are valued at about USD 1.2 trillion.
- The Chinese aerospace industry is one of the leading industries in the country, and the government is heavily investing to increase its domestic manufacturing capabilities. Additionally, the government is planning to construct new airports, while improving maintenance capacities of the existing airports.
Explore Full Report With Detailed TOC Here:
The market factors explained in the report:
Market Overview: It includes Aerospace Materials Market study scope, top key players, segments, market analysis by application, market analysis by type, and other chapters that give an overview of the research study.
Executive Summary: The Aerospace Materials Market report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Regional Study: All of the regions and countries analyzed in the Aerospace Materials Market report is studied on the basis of market size by application, the market size by product, key players, and market forecast.
Key Players: This part of the Aerospace Materials Market report discusses expansion plans of companies, key mergers and acquisitions, funding and investment analysis, company establishment dates, revenues of manufacturers, and their areas served and manufacturing bases.
Market Forecast: Here, the report offers a complete forecast of the global Aerospace Materials Market by product, application, and region. It also offers global sales and revenue forecasts for all years of the forecast period.
The research includes historic data from 2014 to 2019 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply-chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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Irfan Tamboli (Head of Sales)
Market Insights Reports
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc.MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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