Aerospace Superalloys Market Growth Accelerates: Strategic Forecast Predicts $6.52 Billion by 2029

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What Will the Aerospace Superalloys Industry Market Size Be by 2025?
The market size of aerospace superalloys has seen substantial growth in recent years. With a forecasted expansion from $4.70 billion in 2024 to $5.03 billion in 2025, it exhibits a compound annual growth rate (CAGR) of 7.0%. The historic expansion of the market is linked to the rising necessity for fuel-effective engines, their augmented utilization in upcoming generation aircraft, a surge in defense expenditure on high-tech jets, the integration of additive manufacturing, and the demand for extended lifespan components.

What's the Long-Term Growth Forecast for the Aerospace Superalloys Market Size Through 2029?
The market size for aerospace superalloys is predicted to have a substantial increase in the coming years. It is anticipated to reach $6.53 billion by 2029, with a compound annual growth rate (CAGR) of 6.8%. Factors contributing to this growth include the escalating demand for high-strength, lightweight materials, the rise in usage of next-generation turbine engines, increased initiatives towards sustainable aviation, expansion of space exploration programs, and boost in military aircraft modernization projects. Some of the key trends during this forecast period would be improvement in nickel-based superalloy composition, creation of oxidation-resistant coatings, advancements in additive manufacturing methodologies, progress in single-crystal alloy technologies, and introduction of environment-friendly recycling procedures.

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What Are the Key Growth Drivers Fueling the Aerospace Superalloys Market Expansion?
The growth of the aerospace superalloys market is being significantly fueled by the rising number of air travelers. Growth in air travel is mainly being propelled by increasing middle-class incomes, which prompts airlines to enhance and update their fleets to fulfill the escalating demand for air travel. The boost in air travelers triggers an increased utilization of aerospace superalloys within aircraft manufacturing to maintain reliable operation and safety under severe conditions. For example, in June 2024, the International Air Transport Association (IATA) reported that total airline passenger traffic grew by 25.3% in December 2023, compared to the same period in 2022. Thus, the upward trend in air travel is propelling the expansion of the aerospace superalloys market.

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What Are the Key Trends Driving Aerospace Superalloys Market Growth?
Firms that play a significant role in the aerospace superalloys industry are emphasizing the creation of novel nickel superalloys to boost their durability, efficiency, and resistance to high temperatures in essential aerospace parts. Nickel superalloys are high-performance alloys predominantly made of nickel and engineered to endure intense heat, pressure, and mechanical stress. For example, in July 2024, Aubert & Duval, an advanced metallurgical solution firm from France, in collaboration with Alloyed, a UK-based alloy and process design technology firm, introduced ABD-1000 AM, a superior alloy specifically designed for additive manufacturing. Produced using Alloyed's computational Alloys-by-Design platform, ABD-1000 AM offers excellent environmental resistance and heat resistance strength, sustaining its performance at temperatures over 1000°C (1832°F) in its age-hardened condition. When compared to the cast alloy Ni247LC, it provides a similar stress rupture lifespan while facilitating additive manufacturing devoid of cracks and suitable heat treatment, thus enabling the production of intricate parts in the aerospace, energy, automotive, defense, and space sectors.

How Is the Aerospace Superalloys Market Segmented?
The aerospace superalloys market covered in this report is segmented -

1) By Alloy Type: Cobalt, Iron, Nickel
2) By Form: Bar, Ingot, Powder, Sheet And Plate, Wire
3) By Application: Combustion Chambers, Seals, Turbine Blades, Turbine Discs, Vanes
4) By End-Use Industry: Commercial Aviation, Defense, Industrial Gas Turbine, Power Generation

Subsegments:
1) By Cobalt: Cast Cobalt-Based Superalloys, Wrought Cobalt-Based Superalloys, Cobalt-Chromium Alloys
2) By Iron: Austenitic Iron-Based Superalloys, Ferritic Iron-Based Superalloys, Martensitic Iron-Based Superalloys
3) By Nickel: Wrought Nickel-Based Superalloys, Cast Nickel-Based Superalloys, Powder Metallurgy Nickel-Based Superalloys

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Which Companies Are Leading the Charge in Aerospace Superalloys Market Innovation?
Major Companies operating in the aerospace superalloys market are ThyssenKrupp AG, IHI Corporation, Acerinox SA, Aperam S.A., Precision Castparts Corporation, Arconic Corporation, Howmet Aerospace Inc., Eramet S.A., Allegheny Technologies, Carpenter Technology Corporation, AMG Advanced Metallurgical Group N.V., Special Metals Corporation, VDM Metals GmbH, Doncasters Group Ltd., Aubert & Duval, Haynes International Inc., Universal Stainless & Alloy Products Inc., Mishra Dhatu Nigam Ltd., Cannon-Muskegon Corporation, NeoNickel Limited.

Which Regions Are Leading the Global Aerospace Superalloys Market in Revenue?
North America was the largest region in the aerospace superalloys market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aerospace superalloys market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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