Aerospace MRO Raw Materials Market is Forecasted to Reach US$ 1.3 billion in 2028, Says Stratview Research

The global aerospace MRO raw materials market is projected to witness a growth rate of 5.6% annually from 2023 to 2028, with an anticipated size of US$ 1.3 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 MRO 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$ 1.3 billion
Growth (CAGR): 5.6% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+

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

Based on platform type - The aerospace MRO raw materials market is segmented into commercial aircraft, regional aircraft, general aviation, military aircraft, helicopters, and spacecraft. Commercial aircraft is expected to remain the market's largest and fastest-growing platform type during the forecast period. Rapidly recovering demand and production of aircraft, probable market entry of new aircraft, such as C919, and an incessant requirement of mill products best suiting the applications at hand, are the key reasons behind the segment's healthy growth in the long run.

Based on the material type - The market is segmented into titanium & alloys, aluminum & alloys, steel & alloys, composites, and others. Titanium & Alloys captured a major share of the market in 2022 and are expected to maintain their unwavering vanguard during the forecast period. High strength-to-weight ratio and excellent corrosion resistance drive their usage in the aerospace industry.

Based on the application type - In terms of applications, the engine held the major share of the market in 2022 and is expected to remain dominant during the forecast period. Maintenance for engines and their components is driven by utilization, primarily by accumulated flight hours and cycles. When an aircraft stays in storage for long durations that pass the airframe check thresholds, it must undergo the corresponding maintenance before it can return to service.

To know the most attractive segments, visit:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that the aerospace hub, North America is expected to maintain its unquestionable lead during the forecast period. This growth outlook is majorly attributed to the following-
- There are several major players, such as Hexcel Corporation, Solvay SA, Toray Advanced Composites (TCAC), Arconic Corporation, and VSMPO Trius US, that are headquartered in the region.
- Europe and Asia-Pacific are also likely to create sizeable opportunities in the coming five years, the latter is likely to witness the highest growth during the forecast period.

Aerospace MRO Raw Materials Market Drivers:

Some of the key drivers listed in the report are given below.
- Increasing aircraft fleet expansion, rising air passenger traffic, and stringent aviation safety regulations.
- Demand for lightweight composites and advanced alloys is growing, enhancing fuel efficiency.
- Additionally, aging aircraft require frequent maintenance, boosting MRO activities.

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

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Aerospace MRO 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?

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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.