What Has Driven the Growth of the Aerospace Materials Market in Recent Years?
The aerospace materials market has seen considerable growth due to a variety of factors.
• In the past few years, the aerospace materials market has seen significant expansion. The market, which was valued at $36.53 billion in 2024, is projected to increase to $39.76 billion in 2025, with a compound annual growth rate (CAGR) of 8.8%.
Factors contributing to this substantial growth during the historical period include the robust economic development in emerging markets, a surge in air travel demand, and a rise in military expenditures.
What is the Market Size Forecast for the Aerospace Materials Market?
The aerospace materials market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for aerospace materials is anticipated to experience significant expansion in the upcoming years. The market is predicted to reach $56.04 billion by 2029, with a compound annual growth rate (CAGR) of 9.0%.
This growth during the forecast period is largely due to factors such as the increased demand for lightweight materials, enhanced government backing, a surge in the number of delivered commercial aircraft, and swift urbanization. Key trends to look out for during this period include the introduction of innovative products centered on structural film adhesives, emphasis on advanced materials boasting superior strength and performance, the employment of advanced materials in 3D printing, investment concentration on production capabilities, and vital alliances and cooperative efforts among market entities.
What Are The Primary Growth Drivers In The Aerospace Materials Market?
The growth of the aerospace materials market is anticipated to be bolstered by the escalating adoption of lightweight materials. Selecting the most suitable aerospace materials for specific applications is crucial when utilising lightweight materials. It's necessary that the materials deployed in aircraft can resist severe conditions such as atmospheric pressures, extreme temperatures, and ultraviolet rays. To illustrate, Jamco Corporation, a Japanese corporation dealing in aircraft engines and engine parts, spotlighted its Venture Premium Class Seat in March 2023. The seat, designed sustainably, aims at diminishing operational expenses for airlines. The Venture seat from Jamco has been produced using a significant quantity of recycled material and is more lightweight than traditional seats. Additionally, it's easy to install and necessitates less comprehensive maintenance. Therefore, the burgeoning use of lightweight materials will lend a hand in propelling the growth of the aerospace materials market.
What Are The Major Segments Within The Aerospace Materials Market?
The aerospace materials market covered in this report is segmented –
1) By Type: Aluminum Alloys, Steel Alloys, Titanium Alloys, Super Alloys, Composites, Other Types
2) By Aircraft Type: Commercial Aircraft, Business and General Aviation, Civil Helicopters, Military, Other Aircraft Types
3) By Application: Interior, Exterior
Subsegments:
1) By Aluminum Alloys: 2xxx Series (Copper Alloys), 5xxx Series (Magnesium Alloys), 7xxx Series (Zinc Alloys)
2) By Steel Alloys: Carbon Steel Alloys, Stainless Steel Alloys, Tool Steel Alloys
3) ByTitanium Alloys: Alpha Alloys, Beta Alloys, Alpha-Beta Alloys
4) By Super Alloys: Nickel-Based Super Alloys, Cobalt-Based Super Alloys, Iron-Based Super Alloys
5) By Composites: Carbon Fiber Reinforced Polymers (CFRP), Glass Fiber Reinforced Polymers (GFRP), Aramid Fiber Composites
6) By Other Types: Magnesium Alloys, Hybrid Materials, Specialty Alloys
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Which Trends Are Expected To Transform The Aerospace Materials Market?
Leading aerospace materials manufacturers, such as Hexcel, are increasingly focusing on innovations and technological advancements including the development of RTM (Resin Transfer Molding) resin and rapid-cure prepreg. These materials are aimed at enhancing performance, improving the effectiveness of composite structures and reducing production times in aerospace applications. Advanced composite aerospace materials like RTM resin and rapid-cure prepreg facilitate the efficient production of robust, lightweight components. This not only streamlines the manufacturing process but also ensures rigid adherence to the stringent performance and safety standards in the industry. Hexcel, an industrial materials firm based in the U.S, introduced HexPly M51 prepreg and HiFlow HF610F-2 resin in June 2023. The HexPly M51 Prepreg, a rapid-cure prepreg aerospace material, is fully compatible with automated procedures such as Automated Tape Laying (ATL) and Automated Fiber Placement (AFP). The HiFlow HF610F-2 Resin, an RTM resin, is ideal for high-speed manufacturing of small to medium parts. These products are uniquely designed to boost production rates in the aerospace materials sector.
Who Are the Key Players in the Aerospace Materials Market?
Major companies operating in the aerospace materials market include:
• Allegheny Technologies Incorporated
• Arconic Corporation
• Constellium SE
• Hexcel Corporation
• Solvay SA
• Toray Industries Inc.
• Du Pont
• Novelis Inc.
• Teijin Ltd.
• Materion Corp
• Hindustan Aeronautics Limited (HAL)
• Bharat Electronics Limited (BEL)
• Tata Advanced Systems Limited (TASL)
• Aequs Aerospace
• Dynamatic Technologies Limited
• Mitsubishi Heavy Industries. Ltd.
• Kawasaki Heavy Industries
• Subaru Corporation
• Quickstep Holdings Limited
• RUAG Australia
• AVIC Shenyang Aircraft Company Ltd
• Aecc Aviation Power Co. Ltd
• China Shipbuilding Industry Company Ltd
• Gaona Aero Material Co. Ltd
• MTU Aero Engines
• Diehl Aerospace
• OHB SE
• Premium AEROTEC
• Dassault Aviation
• Safran
• Airbus Defence and Space
• Indra Sistemas
• Alestis Aerospace
• Saab AB
• Sukhoi Company
• Gazprom Space Systems
• Aerostar
• IAR Ghimbav
• Apollo Aerospace Components
• AERO Vodochody
• PBS Velká Bíteš
• PZL Mielec
• Lockheed Martin Corporation
• The Boeing Company
• Spirit AeroSystems. Inc
• Magellan Aerospace
• Avcorp Industries Inc
• Héroux-Devtek
• Kordsa
• Turkish Aerospace Industries
• Kenya Aerotech Limited
• Aerosud Aviation (Pty) Ltd
• Paramount Group
• Cairo Aviation
What Is The Most Dominant Region In The Aerospace Materials Market?
Europe was the largest region in the aerospace materials market in 2024. The regions covered in the aerospace materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
