Aerospace Bars Market is Forecasted to Reach US$2.2 Billion in 2028, Says Stratview Research

The global aerospace bars market is projected to witness a growth rate of 5% annually from 2023 to 2028, with an anticipated size of US$2.2 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 Bars market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/1818/aerospace-bars-market.html#form

Market Statistics:

Market Size in 2028: US$2.2 billion
Growth (CAGR): 5% during 2023-2028
Leading Platform Type: Commercial Aircraft
Leading Material Type: Titanium & Alloys
Leading Sales Channel Type: Direct Sales
Leading Shape Type: Round Bars
Leading Region: North America
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Aerospace Bars Market:

The global Aerospace Bars market is segmented based on Platform type, Material type, Sales Channel type, Machine type, and Region.

Based on the platform type -

- Based on the platform type, the aerospace bars market is segmented into commercial aircraft, regional aircraft, general aviation, military aircraft, helicopters, and spacecraft.
- Commercial aircraft are expected to remain the largest and fastest-growing platform type in the market during the forecast period. Increasing demand for lightweight yet durable parts; market entry of new players, such as COMAC and Irkut; and rebounding aircraft deliveries are some of the key factors propelling the demand for bars in the commercial aircraft segment.

Based on the material type -

- Based on the material type, the market is segmented into titanium & alloys, aluminum & alloys, steel & alloys, and others.
- Titanium & Alloys are expected to remain the most dominant material type in the market during the forecast period. The density of titanium is 40% less than that of steel- or nickel-based alloys, yielding a remarkable weight advantage for aerospace structures. It is a desirable material for high-performance metal bars owing to its tensile strength (better than that of austenitic or ferritic stainless steels), stiffness, and toughness along with their high melting point. Owing to their massive array of advantages, titanium and nickel are gaining traction in the aerospace industry.

Which region shows the most promising growth forecast and opportunity?

- In terms of regions, North America is expected to remain the largest market for aerospace bars during the forecast period. The USA is the growth engine of the region's market with the presence of major aircraft OEMs, tier players, raw material suppliers, and part fabricators. Most of the bar suppliers have their presence in the region to address the emerging needs of OEMs and to be partners for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.
- Asia-Pacific is likely to recoup at the fastest rate, witnessing the highest growth during the same period. The highest growth of Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; the opening of assembly plants of Boeing and Airbus for multiple aircraft programs; and the increasing procurement of military aircraft, owing to the rising defense budget.

Aerospace Bars Market Drivers:

Some of the key drivers listed in the report are given below.

- Surging aircraft production rates driven by rising air travel demand and commercial fleet expansion directly increase demand for high-quality aerospace bars.
- Ongoing emphasis on weight reduction in aircraft design to improve fuel efficiency and reduce emissions drives the adoption of lightweight aluminum and titanium alloy bars.
- Opening of assembly plants for Boeing and Airbus programs in Asia-Pacific, coupled with rising defense budgets and military aircraft procurement, accelerates regional market growth.
- Growing trend toward additive manufacturing and 3D printing technologies enables production of complex geometries and customized aerospace bars with reduced material waste.
- Increasing demand for customization and tailored solutions as aircraft designs become more specialized requires aerospace bars in various sizes, shapes, and material compositions.

Competitive Landscape: Top Companies in the Aerospace Bars Market:

Most of the major players compete in some of the factors, including price, service offerings, regional presence, etc. The following are the key players in the Aerospace Bars Market:
• Arconic Corporation
• VSMPO-AVISMA Corporation
• Allegheny Technologies, Inc.
• Titanium Metals Corporation (TIMET)
• Constellium SE
• Haynes International, Inc.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Please write to us at sales@stratviewresearch.com

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the Aerospace Bars 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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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.

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This release was published on openPR.