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Commercial Aircraft Airframe Materials Global Market Expected to Reach $11.35 Billion By 2028 at a CAGR of 11.0%
Commercial Aircraft Airframe Materials Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Commercial Aircraft Airframe Materials industry. This report on Commercial Aircraft Airframe Materials market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The commercial aircraft airframe materials market size has grown rapidly in recent years. It will grow from $6.72 billion in 2023 to $7.48 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to increased air traffic, increased travel and tourism, population growth, rise in disposable income, growth of the aviation industry. The commercial aircraft airframe materials market size is expected to see rapid growth in the next few years. It will grow to $11.35 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%.
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Key Market Players:
Solvay S.A, Constellium SE, Arconic Corporation, Toray Industries Inc., Teijin Limited, Southwest Aluminum, The Progressive Corporation are prominent players in the Commercial Aircraft Airframe Materials industry.
Market Drivers:
The increase in fleet size of commercial aircraft is expected to contribute to the growth of the commercial aircraft airframe materials market. Commercial aircraft are those aircraft that are used to transport people and cargo between specific airports regularly. Increasing fleet size requires aircraft airframe materials to form the structure of an aircraft, thereby promoting the growth of commercial aircraft airframe materials. For instance, according to Boeing, a US-based aerospace company's commercial market report for 2021-2040, the global commercial fleet is expected to exceed 49,000 airplanes by 2040.
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Market segments for Commercial Aircraft Airframe Materials include:
1) By Type: Aluminium Alloys, Titanium Alloys, Composites, Steel Alloys
2) By Application: Narrow-Body Aircraft, Wide-Body Aircraft, Regional Aircraft, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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