Press release
Aerospace Materials Market: Business Strategy Analysis for Expected Significant Growth Rate Forecast to 2026
The global aerospace materials market is soaring to new heights, driven by an increased demand for lightweight and fuel-efficient aircraft, a surge in air passenger traffic, especially in emerging regions like Asia-Pacific, and a growing need for new aircraft. The commercial segment dominated the market in 2019, holding the largest share, with Europe leading in terms of revenue.๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ ๐๐ซ๐จ๐๐ก๐ฎ๐ซ๐: https://www.alliedmarketresearch.com/request-sample/6276
In 2018, the aerospace materials industry raked in $3.95 billion, and projections indicate a climb to $6.51 billion by 2026, exhibiting a robust CAGR of 6.5% from 2019 to 2026. The comprehensive report delves into the factors propelling this growth, exploring drivers, opportunities, changing market trends, the competitive landscape, key segments, and market size estimations.
The demand for lightweight and fuel-efficient aircraft, coupled with the rise in air passenger traffic, particularly in Asia-Pacific, fuels the global aerospace materials market's expansion. Challenges include limited options for designing complex structures, while opportunities abound in the increased production of commercial aircraft in emerging countries.
Segmentation-wise, aerospace materials are categorized into composites, metals, and plastics. Composites took the lead in 2018, contributing over three-fourths of the total revenue share and expected to maintain a strong position with the fastest CAGR of 6.9% from 2019 to 2026.
The type of aircraft also plays a crucial role, with the commercial segment securing the largest market share in 2018, set to maintain its dominance. However, the space segment is anticipated to experience the highest CAGR of 8.2% from 2019 to 2026.
Geographically, Europe led in revenue share in 2018, accounting for over one-third of the global aerospace materials market. It is expected to continue this dominance, growing at the fastest CAGR of 7.1% from 2019 to 2026. North America, Asia-Pacific, and LAMEA are also integral regions analyzed in the report.
Major market players driving innovation and growth include DuPont, Mitsubishi Chemical Holdings Corporation, Sumitomo Bakelite Co. Ltd, Toray Industries Inc., PPG Industries Inc., Solvay, SABIC, Hexcel Corporation, SGL Carbon, and Rรถchling. Their contributions shape the dynamic landscape of the global aerospace materials market.
๐๐๐ญ๐๐ข๐ง ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ญ๐๐ข๐ฅ๐ฌ: https://www.alliedmarketresearch.com/aerospace-materials-market
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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