Aerospace Raw Materials Market is Forecasted to Reach US$ 19.3 billion in 2028, Says Stratview Research

The global aerospace raw materials market is projected to witness a growth rate of 5.3% annually from 2023 to 2028, with an anticipated size of US$ 19.3 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global aerospace raw materials market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 19.3 billion
Growth (CAGR): 5.3% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+

Segment Insights on the Aerospace Raw Materials Market:
The global aerospace raw materials market is segmented based on platform type, material type, form type, sales channel type, and region.

Based on platform type - the aerospace raw materials market is segmented into commercial aircraft, regional aircraft, general aviation, military aircraft, helicopter, and spacecraft. Commercial aircraft is expected to remain the largest and fastest-growing platform in the market during the forecast period. With the consistent rise in commercial aircraft deliveries in 2022, Airbus secured the delivery lead for the fourth consecutive year, having delivered 663 aircraft, surpassing Boeing's 480 shipments. In the previous year (2021), Boeing and Airbus delivered 340 and 611 aircraft, respectively. Boeing's recent announcement for setting up a line for B737Max in the USA is likely to allow the company to produce the aircraft at a faster rate. A similar exercise was performed by Airbus, installing its first A320neo assembly line in France.

Based on the material type - the market is segmented into titanium & alloys, aluminum & alloys, steel & alloys, composites, and others. Titanium & Alloys are expected to remain the dominant material in the market during the forecast period. Over the years, there has been a greater penetration of titanium parts as new aircraft programs are built with higher titanium content. In terms of volume, aluminum & alloys hold a significant share as all the legacy aircraft platforms, such as B737 and A320, are built with extensive use of aluminum alloys.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/817/aerospace-raw-materials-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the largest market for aerospace raw materials during the forecast period. This growth outlook is majorly attributed to the following-
- The USA is the growth engine of the region's market and has one of the largest fleets of commercial and military aircraft in the world.
- Due to the presence of major companies, the region is the early go-getter in the industry concerning technology and material adoption.
- Asia-Pacific is likely to witness the fastest growth during the forecast period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, increasing defense budget of key economies, opening of assembly plants of Boeing and Airbus, and upcoming indigenous commercial aircraft (COMAC C919).

Aerospace Raw Materials Market Drivers:

Some of the key drivers listed in the report are given below.
- In 2022, Boeing bolstered its portfolio by introducing a new 777X-based freighter, expanding its 777X and cargo offerings.
- Boeing aims to achieve a delivery rate of four 777s per month by 2025/26.
- In September 2023, Airbus achieved significant milestones, delivering 55 jets, comprising four A220s, 44 A320s (all NEO), two A330s, and five A350s.
- Both Airbus and Boeing are planning to raise their production rates for key programs in the coming years.

Top Companies in the Aerospace Raw Materials Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• Arconic Corporation
• VSMPO-AVISMA Corporation
• Allegheny Technologies, Inc.
• Titanium Metals Corporation (TIMET)
• Constellium SE
• Kaiser Aluminum Corporation
• Carpenter Technology Corporation

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Aerospace Raw Materials Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

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• Aerospace Prepreg Market: https://www.stratviewresearch.com/475/aerospace-prepreg-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.