Aerospace Materials Market growth will be fuelled by rising demand for lightweight & fuel efficient aircrafts

Aerospace materials market trend is propelled by increasing demand for lightweight and fuel-efficient aircrafts, rise in air passenger traffic in emerging regions such as Asia-Pacific, and surge in demand for new aircraft propel the growth of the global aerospace materials market. Whereas, limited availability of options to design complex structures impedes the market growth. On the other hand, rise in demand for commercial aircraft in emerging countries that leads to increased production of aircrafts provide lucrative opportunities in the market.

Aerospace materials market is set to hit USD 6.51 billion by 2026, growing at a CAGR of 6.5% from 2019 to 2026. The report provides an extensive analysis of drivers and opportunities, changing market trends, competitive landscape, key segments, and market size & estimations.

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The global aerospace materials market report includes an in-depth analysis of the major market players such as DuPont, Mitsubishi Chemical Holdings Corporation, Sumitomo Bakelite Co. Ltd, Toray Industries Inc., PPG Industries Inc., Solvay, SABIC, Hexcel Corporation, SGL Carbon, and Röchling.

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Based on type of aircraft, the market is segregated into commercial, military, rotorcraft, and space. The commercial segment held the largest market share of the global aerospace materials market, accounting for more than half of the total market share in 2018, and will maintain its leadership status during the forecast period. However, the space segment is estimated to grow at the highest CAGR of 8.2% from 2019 to 2026.

The aerospace materials market is segmented into type, application, type of aircraft, and region. Based on type, the market is categorized into composites, metals, and plastics. The composites segment contributed to more than three-fourths of the total share in terms of revenue of the global aerospace materials market in 2018, and is estimated to continue its lead position throughout the forecast period. Moreover, this segment is estimated to register the fastest CAGR of 6.9% from 2019 to 2026.

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Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The region across Europe accounted for the highest share in terms of revenue, contributing to more than one-third of the global aerospace materials market in 2018, and is expected to maintain its dominant position by 2026. Moreover, this region is estimated to grow at the fastest CAGR of 7.1% from 2019 to 2026.

Key Benefits for Stakeholders:

1. The report provides an in-depth analysis of the forecast along with the current and future aerospace materials market trends.
2. This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
3. Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the aerospace materials industry for strategy building.
4. A comprehensive analysis of the factors that drive and restrain the aerospace materials market growth is provided.
5. The qualitative data in this report aims on market dynamics, trends, and developments.

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