Press release
Global Rise in Air Travel Boosts Commercial Aircraft Airframe Materials Market to $12.23bn by 2029
Commercial Aircraft Airframe Materials Market
Air travel is soaring higher than ever before, and this surge in the aviation industry is steering unprecedented growth in the commercial aircraft airframe materials market, with anticipated CAGR of 10.7% in coming years.
What Is The Projected Market Size Of The Global Commercial Aircraft Airframe Materials Market And Its Growth Rate?
• Market Size in 2024: $7.33 billion
• Market Size in 2025: $8.14 billion (CAGR 11.0%)
• Projected Market Size in 2029: $12.23 billion (CAGR 10.7%)
This robust growth is attributed to several factors such as increased air traffic, growth in the travel and tourism sector, rise in disposable income, along with substantial developments and innovation in the aviation industry.
What Is Driving The Growth In The Commercial Aircraft Airframe Materials Market?
The market's growth is largely fueled by the increase in commercial aircraft fleet size. Commercial aircraft are frequently used to transport people and cargo between specific airports. As the fleet size increases, the need for airframe materials, forming the structural backbone of these aircraft, sees a converse rise. For instance, an 11% increase in aircraft delivery was reported by Airbus, a Netherland-based aircraft manufacturer, in 2023. This surge in fleet size is a significant driver of growth in the commercial aircraft airframe materials market.
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Who Are The Key Players Driving Commercial Aircraft Airframe Materials Market Growth?
Dominant companies in the commercial aircraft airframe materials market
• Solvay S.A
• Constellium SE
• Arconic Corporation
• Toray Industries Inc.
• Teijin Limited
• Southwest Aluminium
• Hexcel Corporation
• VSMPO-AVISMA Corporation
• HITCO Carbon Composites Inc
• Kobe Steel Ltd.
• Alcoa Corporation
• AMG Advanced Metallurgical Group NV
What Are The Key Trends In The Commercial Aircraft Airframe Materials Market?
Noteworthy trends in the market include:
• Next-generation aircraft developments
• Advances in electric and hybrid propulsion technology
• Innovative sustainability initiatives for aircrafts
• Technological advancements
• Use of advanced materials for fuel efficiency
What Are The Segments Of The Commercial Aircraft Airframe Materials Market?
1) By Type: Aluminum Alloys, Titanium Alloys, Composites, Steel Alloys
2) By Application: Narrow-Body Aircraft, Wide-Body Aircraft, Regional Aircraft, Other Applications
Which Region Leads The Commercial Aircraft Airframe Materials Market?
The Middle East region was the largest contributor to the commercial aircraft airframe materials market in 2024. However, Asia-Pacific is expected to undergo rapid growth during the forecast period due to its booming aviation industry.
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What Is Covered In The Commercial Aircraft Airframe Materials Market Global Market Report?
- Market Size Analysis: Analyze the Commercial Aircraft Airframe Materials Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Commercial Aircraft Airframe Materials Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Commercial Aircraft Airframe Materials Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Commercial Aircraft Airframe Materials Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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