Aerospace Materials Market Size, Booming Worldwide Growth Strategies, Regional Analysis and Forecast to 2030 | Toray Industries, Inc., Alcoa Corporation

Market Overview:

Aerospace materials are a range of high-strength and lightweight materials used in the manufacturing of aircraft structures and components. These include aluminum alloys, titanium alloys, steel alloys, composites, and super alloys.

Market Dynamics:

The growth of the aerospace materials market is driven by increasing aircraft procurement across the globe. According to Airbus, over 39,000 new commercial aircraft are estimated to be delivered worldwide by 2038. This increasing demand is attributed to continuously rising global air passenger traffic. Furthermore, stringent regulations regarding fuel efficiency and emission standards are also propelling the demand for lightweight and high-strength aerospace materials. For instance, ASTM International and SAE International have defined various specifications and standards for aerospace materials to ensure safety, reliability, and sustainability.

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Major market players included in this report are:

★ Toray Industries Inc.
★ Alcoa Corporation
★ Solvay Group
★ Du Pont
★ Teijin Limited
★ ATI Metals
★ Constellium N.V.

*Disclaimer: Major Players are sorted in no particular order.

Detailed Segmentation:

On basis of Material
✦ Aluminum Alloys
✦ Steel
✦ Titanium Alloys
✦ Composite Materials
✦ Others

On basis of Aircraft
✦ Commercial
✦ Military
✦ Business
✦ Helicopters
✦ Others

Regional Analysis:

• North America (U.S. and Canada)
• Latin America (Mexico, Brazil, Peru, Chile, and others)
• Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
• Eastern Europe (Poland and Russia)
• Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
• The Middle East and Africa (GCC, Southern Africa, and North Africa)

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✦ Rising Demand for Aircraft Manufacturing Worldwide is Driving Growth in the Aerospace Materials Market

The aerospace industry has experienced significant growth over the past few years and this rising demand for commercial aircraft is one of the key drivers boosting the aerospace materials market. Growing airline passenger traffic around the world has encouraged manufacturers to ramp up aircraft production thereby increasing the requirement for high performance materials. Major manufacturers like Airbus and Boeing have huge order backlogs for new aircraft which will ensure steady demand for materials in the coming years. Additionally, newer aircraft being designed and built these days feature advanced lightweight composite materials to improve fuel efficiency and performance. This technology shift is also fueling consumption of sophisticated materials in the industry.

✦ Increasing Emphasis on Fuel Efficiency and Emission Reduction Augments Use of Advanced Materials

To meet stringent emission norms globally, aircraft manufacturers have started focusing on designs and technologies that can significantly reduce fuel burn and carbon footprint. Lighter but durable advanced composite materials are playing a vital role in achieving these goals. Using composite materials instead of traditional aluminum alloys helps decrease an aircraft's weight by up to 20% thereby providing better fuel savings. Moreover, these materials enable engineers to shape aircraft parts aerodynamically for optimal airflow. As emission regulations tighten further, the need for aviation-grade composites and other lightweight alloys in aircraft structures will continue growing. This is another key driver positively impacting development of the aerospace materials industry.

✦ Stringent Regulations on Material Quality Pose a Threat

Due to safety critical nature of aircraft components, materials used in their manufacturing have to meet the highest quality standards. Non-conformance can result in catastrophic failures. Regulatory authorities like the FAA and EASA have implemented very stringent regulations pertaining to validation and certification of aerospace-grade materials. Obtaining approvals and ensuring total compliance throughout the product lifecycle involves huge investment of time and resources for materials manufacturers. High costs associated with the testing, documentation and process validation requirements have made it difficult for new players to enter this market. Existing vendors also find it challenging to scale up production or introduce new product lines due to regulatory barriers. This acts as a key restrain constraining growth of the aerospace materials industry.

✦ Advent of Additive Manufacturing Unlocks New Opportunities

The rise of additive manufacturing (3D printing) is revolutionizing the aerospace sector by enabling previously impossible design and production techniques. This advanced technology allows fabricating metal as well as composite parts having intricate internal geometries that improve strength and reduce weight. Using 3D printing, aerospace OEMs can now produce complex aircraft components with integrated functionalities in a single shot which was not feasible with conventional methods. It also helps minimize raw material waste and shorten lead times. As these advantages become more evident, additive manufacturing adoption in the industry is growing rapidly. This emerging field presents a massive opportunity for materials manufacturers to introduce specialty metal powders, photopolymers and advanced filaments tailored for aerospace 3D printing applications.

✦ Increasing Usage of Composite Materials is the Main Industry Trend

Over the past decade or two, composites have gradually replaced metal alloys in airframe structures to a major extent thanks to composites' exceptional strength-to-weight attributes. Going forward, the proportion of composites as a percentage of total airframe build material is projected to rise even higher. Carbon fiber reinforced polymers (CFRP) in particular are seeing widespread use in wings, fuselage and empennage. Similarly, fiberglass reinforced plastics (GFRP) are utilized for interior paneling and non-structural parts. With the benefits of composites getting clearly established, major airframers have committed to build their upcoming aircraft models predominantly or fully from composites. As a result, demand for carbon fibers, epoxy/bismaleimide resins, honeycomb cores and other composite raw materials is surging. This trend underscores composites' place as a critical future growth driver in the aerospace materials industry.

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FAQ'S:

☛ What is the expected growth rate of the market for the forecast period of 2023-2030? What will the market size be in the anticipated time frame?
☛ What will the market size be in the anticipated time frame?
☛ What are the major factors influencing the Aerospace Materials market over the forecast period?
☛ What are the market leaders' winning strategies for establishing a significant presence in the Aerospace Materials industry?
☛ What are the major market trends influencing the growth of the Aerospace Materials market across the globe?
☛ What are the major threats and challenges that are likely to stymie the growth of the Aerospace Materials market? What are the most significant market opportunities?
☛ What are the most critical opportunities for market leaders to succeed and profit?

Table of Contents with Major Points:

1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2023-2030 (USD Billion)
1.2.1. Aerospace Materials Market, by Region, 2023-2030 (USD Billion)
1.2.2. Aerospace Materials Market, by Type, 2023-2030 (USD Billion)
1.2.3. Aerospace Materials Market, by Application, 2023-2030 (USD Billion)
1.2.4. Aerospace Materials Market, by Verticles, 2023-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

2. Global Aerospace Materials Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

3. Global Aerospace Materials Market Dynamics
3.1. Aerospace Materials Market Impact Analysis (2023-2030)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities

4. Global Aerospace Materials Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2023-2030)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion

5. Global Aerospace Materials Market, by Type
5.1. Market Snapshot
5.2. Global Aerospace Materials Market by Type, Performance - Potential Analysis
5.3. Global Aerospace Materials Market Estimates & Forecasts by Type 2023-2030 (USD Billion)
5.4. Aerospace Materials Market, Sub-Segment Analysis

6. Global Aerospace Materials Market, by Application
6.1. Market Snapshot
6.2. Global Aerospace Materials Market by Application, Performance - Potential Analysis
6.3. Global Aerospace Materials Market Estimates & Forecasts by Application 2023-2030 (USD Billion)
6.4. Aerospace Materials Market, Sub-Segment Analysis
6.4.1. Others

7. Global Aerospace Materials Market, by Verticles
7.1. Market Snapshot
7.2. Global Aerospace Materials Market by Verticles, Performance - Potential Analysis
7.3. Global Aerospace Materials Market Estimates & Forecasts by Verticles 2023-2030 (USD Billion)
7.4. Aerospace Materials Market, Sub-Segment Analysis

8. Global Aerospace Materials Market, Regional Analysis
8.1. Aerospace Materials Market, Regional Market Snapshot
8.2. North America Aerospace Materials Market
8.3. Europe Aerospace Materials Market Snapshot
8.4. Asia-Pacific Aerospace Materials Market Snapshot
8.5. Latin America Aerospace Materials Market Snapshot
8.6. Rest of The World Aerospace Materials Market

9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Keyplayer1
9.2.1.1. Key InDurationation
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments

10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes

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