U.S (New York)– The “Aerospace Materials Market ” 2023 research report appears to cover various aspects of the market, including the strategies of top players, market segments, competitive landscape, manufacturing, and pricing structures. In this report, we will provide an in-depth analysis of the current state of the global Aerospace Materials Market , its key drivers and challenges, and its future prospects. This study contains research on market dynamics, such as SWOT, PESTLE, and Porter’s Five Forces analysis, as well as details about drivers, constraints, trends, and opportunities. These studies may assist in providing a thorough overview of the worldwide industry. Additionally, the key segments of the industry are evaluated according to their performance.
Global aerospace materials market was valued at $3,950 million in 2018, and is expected to reach $6,518.5 million by 2026, registering a CAGR of 6.5% from 2019 to 2026. Aerospace materials are materials that offer high tensile strength, high temperature tolerance, great transparency, and hard surface. Aerospace material manufacturers are preferring the use of advanced plastics, fiber composites, and several metals & alloys in aircraft that offer desired properties, thus replacing conventional metals.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The growth of the global aerospace materials market is driven by increase in demand for lightweight and efficient aircraft. In addition, upsurge in spending power of consumers and rise in air passenger traffic in emerging countries have led to increase in fleet sizes, which significantly contributes toward the growth of the global market. Moreover, rise in fuel costs and accompanying incentives to make aircraft more efficient act as key driving factors of the market. Furthermore, modern materials such as PEEK, PMMA, and PPS have a greater ability to resist high-altitude UV radiations as compared to traditional materials, which boost their demand across the globe, thereby augmenting the market growth. However, complex designing is hampering the aerospace materials market growth. On the contrary, development of the commercial aviation sector in emerging economies is anticipated to offer remunerative opportunities for market expansion.
The global aerospace materials market is segmented into type, application, type of aircraft, and region. On the basis of type, the market is fragmented into composites, metals, and plastics. The composite segment is sub-segmented into resins and fiber. The fiber segment is further classified into glass fiber-based, carbon fiber-based, and aramid fiber-based. The resin segment is subdivided into epoxy, phenolic, polyester, thermoplastics, polyimides, and others. The metal segment is further categorized into steel, aluminum, and titanium.
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The plastics segment is divided into PEEK, PMMA, ABS, PC, PPS, and others. The applications covered in the study include interior and exterior. The interior segment is sub-segmented into passenger seating, galley, interior panels, and others. The exterior segment is further divided into propulsion systems, airframe, tail & fin, and windows & windshields. By type of aircraft, the market is segregated into commercial, military, rotorcraft, and space. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
1.1. KEY BENEFITS FOR STAKEHOLDERS
– The report provides extensive qualitative and quantitative analysis of the current trends and future estimations of the global aerospace materials market from 2018 to 2026 to determine the prevailing opportunities.
– Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
– Estimations and forecast are based on factors impacting the market growth, in terms of value.
– Profiles of leading players operating in the aerospace materials market are provided to understand the global competitive scenario.
– The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
– Key Market Players
o Mitsubishi Chemical Holdings Corporation
o PPG Industries Inc.
o DuPont
o Solvay
o SABIC
o Sumitomo Bakelite Co. Ltd.
o Toray Industries Inc.
o Rochling
o Hexcel Corporation
o SGL Carbon
1.2. Key Market Segments
– By Type
o Composite
? Resin
? Fiber
o Metal
? Steel
? Aluminum
? Titanium
o Plastic
? PEEK
? PMMA
? ABS
? PC
? PPS
? Others
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– By Application
o Interior
? Passenger Seating
? Galley
? Interior
? Panels
? Others
o Exterior
? Propulsion Systems
? Airframe
? Tail & Fin
? Windows & Windshields
– By Type of Aircraft
o Commercial
o Military
o Rotorcraft
o Space
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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