Press release
Commercial Aircraft Airframe Materials Market: Market Share, Growth Drivers, and Segment Analysis
Commercial Aircraft Airframe Materials Market
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.
Market Overview -
The commercial aircraft airframe materials are materials used to form the structure of a commercial aircraft. The lightweight airframe components and structural designs offer increased strength at a lower weight and are resilient to the heat associated with flight. Due to their lightweight, aluminum and magnesium have long been employed as airframe materials.
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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
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.
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Key Segments -
The commercial aircraft airframe materials market covered in this report is segmented -
1) By Type: Aluminum Alloys, Titanium Alloys, Composites, Steel Alloys
2) By Application: Narrow-Body Aircraft, Wide-Body Aircraft, Regional Aircraft, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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