Aerospace Materials Market 2024 - By Size, Share Analysis, Growth Trends And Forecasts To 2033

Overview and Scope

Aerospace materials refer to types of materials, often metal alloys or polymeric-based materials, that have been created specifically for aircraft application and are used in a variety of aerospace components because they have enhanced qualities such as high tensile strength, superior temperature tolerance, enhanced transparency, and a hard surface.

Sizing and Forecast

The aerospace materials market size has grown strongly in recent years. It will grow from $22.6 billion in 2023 to $24.57 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increased demand for air travel and increasing military spending..

The aerospace materials market size is expected to see strong growth in the next few years. It will grow to $33.93 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to increasing use of lightweight materials, rising government support, increased commercial aircraft deliveries and rapid urbanization. Major trends in the forecast period include innovative products with focus on structural film adhesives, focus on advanced materials with improved strength and performance, advancing aerospace materials with 3d printing, focus on investments in production capacities and strategic partnerships and collaborations among market players to improve product portfolio..

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Segmentation & Regional Insights

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

Europe was the largest region in the aerospace materials market in 2023. The regions covered in the aerospace materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The increasing use of lightweight materials is expected to increase the growth of the aerospace materials market. The use of lightweight materials emphasizes the importance of selecting the right aerospace materials for specific applications. The materials used in aircraft must be able to withstand harsh conditions, such as atmospheric forces, temperature extremes and ultraviolet rays. For example, in March 2023, Jamco Corporation, a Japan-based aircraft engines and engine parts company, highlighted its Venture Premium Class Seat, designed with sustainability in mind, while minimizing operational costs for airlines. Jamco’s Venture seat is made with a high amount of recycled material, is lighter than traditional seats, is easy to install and requires less overall maintenance. Therefore, the increasing use of lightweight materials will support the growth of the aerospace materials market.

Key Industry Players

Major companies operating in the aerospace materials market report are 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, CSSC Offshore & Marine Engineering (Group) Company 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, East African Canvas Company Limited, Kenya Aerotech Limited, Aerosud Aviation (Pty) Ltd, Paramount Group, Cairo Aviation, Arik Air, Air Peace

The aerospace materials market report table of contents includes:

1. Executive Summary

2. Aerospace Materials Market Characteristics

3. Aerospace Materials Market Trends And Strategies

4. Aerospace Materials Market - Macro Economic Scenario

5. Global Aerospace Materials Market Size and Growth

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32. Global Aerospace Materials Market Competitive Benchmarking

33. Global Aerospace Materials Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Aerospace Materials Market

35. Aerospace Materials Market Future Outlook and Potential Analysis

36. Appendix