What are the Historical Developments and Current Growth Metrics of the Composite Materials Aluminum Alloys Aerospace Market?
The composite materials aluminum alloys aerospace market has seen considerable growth due to a variety of factors.
• The market size of the composite materials aluminum alloys aerospace industry has seen fast-paced growth in the recent past. The market, which stood at $31.9 billion in 2024, is projected to rise to $35.53 billion in 2025, marking a compound annual growth rate (CAGR) of 11.4%.
Factors such as escalated air traffic, a surge in travel and tourism, population increment, and a rise in disposable income have contributed to this growth, alongside expansion in the aviation sector.
What Does Future Hold for The Composite Materials Aluminum Alloys Aerospace Market Size?
The composite materials aluminum alloys aerospace market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to experience substantial expansion in the forthcoming years, the market size of composite materials aluminum alloys aerospace is predicted to reach $53.28 billion in 2029, growing at a compound annual growth rate (CAGR) of 10.7%.
This growth during the projected period can be linked to factors such as the rise in demand from emerging markets, the advent of fuel-efficient airframe designs, emergence of sustainable aviation materials, the introduction of fresh market players, and the escalating demand for commercial aircrafts. Key trends expected in the forecast duration encompass 3D printing and additive manufacturing, the electrification process in aircraft, technological progress, the incorporation of digital technology and supply chain improvement, along with strategic partnerships.
What Are The Primary Growth Drivers In The Composite Materials Aluminum Alloys Aerospace Market?
The composite materials aluminum alloys aerospace market is anticipated to grow, spurred by a rising consumer inclination towards air travel. Air transportation, which involves the movement of individuals and goods through any flight-capable mode of transport, often favors aluminum alloys due to their high strength and anti-corrosion properties. Additionally, aluminum's weight, being approximately a third of that of steel, allows an aircraft to carry more weight or be more fuel-efficient. For example, as per the International Air Transport Association (IATA), global passenger traffic in March 2022 saw an uptick of 76.0% from March 2021. Furthermore, domestic air traffic in China witnessed an 11.7% rise in March 2022. Therefore, the escalating consumer preference for air travel is fuelling the demand for the composite materials aluminum alloys aerospace market.
What Is The Segmentation Of The Global Composite Materials Aluminum Alloys Aerospace Market?
The composite materials aluminum alloys aerospace market covered in this report is segmented –
1) By Type: Aluminum Alloys, Titanium Alloys, Steel Alloys, Composites
2) By Product: Carbon Fiber Composite Materials, Glass Fiber Composite Materials, Aramid Fiber Composite Materials, Other Products
3) By Application: Commercial Aircraft, Business And General Aviation, Military Aircraft, Helicopters, Other Applications
Subsegments:
1) By Aluminum Alloys: 2000 Series (Al-Cu Alloys), 6000 Series (Al-Mg-Si Alloys), 7000 Series (Al-Zn Alloys)
2) By Titanium Alloys: Alpha Alloys, Beta Alloys, Alpha-Beta Alloys
3) By Steel Alloys: Stainless Steel Alloys, High-Strength Low-Alloy (HSLA) Steel, Carbon Steel Alloys
4) By Composites: Carbon Fiber Reinforced Composites (CFRP), Glass Fiber Reinforced Composites (GFRP), Aramid Fiber Reinforced Composites
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What Emerging Trends Are Shaping The Composite Materials Aluminum Alloys Aerospace Market Landscape?
Leading companies in the aluminum alloys aerospace composite materials market are focusing on producing innovative goods. One such innovative product is the revolutionary NASA Alloy GRX-810, an advanced superalloy designed specifically for additive manufacturing processes in aerospace applications. This is due to its exceptional mechanical properties, thermal stability, and corrosion resistance, making it perfect for extreme settings. For example, in April 2022, the US government agency, The National Aeronautics and Space Administration, developed a novel metal alloy through a 3D printing process. This development significantly enhanced the strength and durability of components and parts used in aviation and space exploration, providing improved and sustained performance. NASA Alloy GRX-810, an oxide dispersion strengthened (ODS) alloy, can withstand temperatures surpassing 2,000 degrees Fahrenheit, offering more flexibility and a longevity over 1,000 times longer than currently available cutting-edge alloys.
Who Are the Key Players in the Composite Materials Aluminum Alloys Aerospace Market?
Major companies operating in the composite materials aluminum alloys aerospace market include:
• Toray Industries Inc.
• Koninklijke Ten Cate B.V.
• Teijin Limited
• Renegade Materials Corp.
• Materion Corp.
• HEXEL Works Inc.
• Solvay S.A.
• Mitsubishi Rayon Co. Ltd.
• SGL Group
• Alcoa Corporation
• Constellium SE
• Kobe Steel Ltd.
• Novelis Inc.
• AMG Critical Materials NV
• Allegheny Technologies Incorporated
• Kaiser Aluminum Corporation
• Arconic Inc.
• Precision Castparts Corp.
• Thyssenkrupp Aerospace India Pvt Ltd.
• United Aluminum Corporation
• BAE Systems
• Bombardier Inc.
• GE Aviation
• Honeywell Aerospace
• Pratt & Whitney
• Rolls-Royce Holdings plc
• The Boeing Company
• Airbus SE
• Lockheed Martin Corporation
• Spirit AeroSystems Inc.
• Triumph Group Inc.
• Safran S.A.
What are the Regional Insights into the Composite Materials Aluminum Alloys Aerospace Market?
North America was the largest region in the composite materials aluminum alloys aerospace market in 2024. North America is expected to be the fastest growing region in the forecast period. The regions covered in the composite materials aluminum alloys aerospace market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
