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Commercial Aircraft Airframe Materials Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Solvay S.A, Constellium SE, Arconic Corporation, Toray Industries Inc.,
Commercial Aircraft Airframe Materials Market Size
The Business Research Company offers in-depth market insights through Commercial Aircraft Airframe Materials Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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%. The growth in the forecast period can be attributed to emerging market demand, fuel-efficient airframe designs, sustainable aviation materials, market entry of new players, and growing need for commercial aircrafts. Major trends in the forecast period include next-generation aircraft development, advanced electric and hybrid propulsion, innovative aircraft sustainability initiatives, technological advancements, use of advanced materials for fuel efficiency.
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Market Segmentation:
The main types of commercial aircraft airframe materials are aluminum alloys, titanium alloys, composites, and steel alloys. Aluminum alloys are used in commercial aircraft airframe construction to develop high-strength parts for jet engines and airframes where high pressure, temperature, and vibration are heavily taken into account throughout their design and manufacturing. The different applications include narrow-body aircraft, wide-body aircraft, regional aircraft, and others.
Major Driver - Elevated Fleet Size Propels Growth In Commercial Aircraft Airframe Materials Market
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. Therefore, the increasing fleet size of commercial aircraft is driving the commercial aircraft airframe materials market growth.
Competitive Landscape:
Major companies operating in the commercial aircraft airframe materials market include Solvay S.A, Constellium SE, Arconic Corporation, Toray Industries Inc., Teijin Limited, Southwest Aluminium, Hexcel Corporation, VSMPO-AVISMA Corporation, ATI Industrial Automation, HITCO Carbon Composites Inc, Kobe Steel Ltd., Alcoa Corporation, AMG Advanced Metallurgical Group NV, Dupopnt de Nemours Inc., The Boeing Company, Lockheed Martin Corporation, Commercial Aircraft Corporation of China (COMAC), Airbus SE, TATA Advanced Systems Ltd., Spirit AeroSystems Inc., Cytec Solvay Group, Mitsubishi Chemical Corporation, Owens Corning, Koninklijke Ten Cate BV, Henkel AG & Co. KGaA, Huntsman Corporation, SGL Carbon SE, BASF SE, Evonik Industries AG, Norsk Titanium AS, Aleris Corporation, Kaiser Aluminum Corporation, Materion Corporation, Precision Castparts Corp., ThyssenKrupp Aerospace
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Top Trend - Technological Advancements Reshaping The Commercial Aircraft Airframe Materials Market
Technological advancement is a key trend gaining popularity in the commercial aircraft airframe materials market. Major companies operating in the commercial aircraft airframe materials sector are focused on developing technologically advanced solutions to lead the market. For instance, in 2022, FACC, an Austria-based aerospace company, is building a high-tech plant near Zagreb, Croatia to produce lightweight components for commercial aircraft using the latest fiber-reinforced composite technology.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Commercial Aircraft Airframe Materials Market Characteristics
3. Commercial Aircraft Airframe Materials Market Trends And Strategies
4. Commercial Aircraft Airframe Materials Market - Macro Economic Scenario
5. Commercial Aircraft Airframe Materials Market Size And Growth
…..
27. Commercial Aircraft Airframe Materials Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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