Global aerospace and defense materials market was valued at USD 20.74 million in 2019. It is expected to grow by 4.0% during the forecast period. New aircraft manufacturing has seen a rise, which is expected to fuel the market's growth. In an effort to increase the aircraft's environmental and cost efficiency, there will be an increasing demand for lightweight materials. Composites made of lightweight, strong fibers reinforced with carbon are becoming more popular in aircraft manufacturing. This allows for increased fuel efficiency, decreased emissions, and reduced material consumption, which will allow for the installation of new functions.
The U.S. is expected dominate the aerospace and defense materials market, due to the presence in the region of established aircraft manufacturers such as Lockheed Martin, United Technologies, Boeing, and United Technologies. The main driver of growth is expected to be technological ability to produce high quality products.
In the near future, the market will benefit from strong demand for aircraft. Over the forecast period, the worldwide number of cargo and commercial aircraft fleets will increase by approximately two-thirds. This is expected to contribute to an increase in aircraft production as well as the demand for the materials.
The aerospace and defense industries have been long-term supporters of the development and application advanced materials. Many advanced materials are being adopted by leading manufacturers, including carbon fiber composites as well as titanium alloys. These materials are important in reducing aircraft weight and improving fuel efficiency.
Market players often sign long-term supply agreements with aircraft manufacturers. Material manufacturers offer highly customized solutions for the component and aircraft maker. The quality of materials is monitored by aircraft manufacturers throughout the value chain, from component design to manufacturing.
Due to the rising popularity of aluminum alloys, 46.6% of global aerospace and defense material market volume was made up of aluminum. Because of its outstanding properties, including resistance to heat and corrosion, aluminum is preferred for production of components for aerostructures. Aluminum is expected to increase in demand as an internal fitting for aircrafts to reduce weight and fuel consumption.
Steel can be used with a variety of metals such as carbon, chromium and nickel in various grades that offer enhanced hardness, yield strength and corrosion resistance. Because stainless steel is easy to weld, it's preferred by aircraft manufacturers for producing rivets and fasteners. This helps in elevating the airspeed and reducing the chance of accidents or damages.
Titanium will show the fastest revenue growth of 4.8% over the forecast period due to its exceptional compatibility with composites. Titanium's light weight, strength and exceptional corrosion resistance properties will help to increase demand for critical components of aircraft.
Copper alloys, including Beryllium copper and Nickel-Aluminum-Bronze are widely used in aerospace engineering for manufacturing critical aircraft components where high strength, corrosion resistance, and good ductility is required. They are used in applications that involve abrasive wear and heavy loads as well as corrosion.
The fastest revenue-based CAGR for Aerostructure will be 4.7% between 2020 and 2027. This is due to the rapid growth of composites, including CFRP and honeycomb material in non-critical structural parts. Composites and aluminum are used extensively in this structure due to their lightweight characteristics and improved rigidity.
The core functions of an airplane are provided by its components, including bearings, fasteners and bushings as well as the fueling and refueling systems. The demand for titanium to manufacture these components will rise as composites are used more often in aircraft structures. Because of their superior corrosion resistance, titanium and its alloys are preferred to aluminum.
Because of its strength and ability to satisfy stringent requirements, plastics are preferred for cabin interiors. There are many options for plastic moldings to be used in cabin seating areas, including trim strips, decorative closeouts and armrests. For these applications, decorative vinyl and polycarbonate are preferred. Decorative plastic laminates are for surfaces that will be in direct contact with passengers and crew.
Large quantities of aluminum are required for satellite manufacturing. These alloys have high strength but low weight. Satellite structures must withstand harsh environments. This is why aramid fiber composites are used exclusively for their structure. Protecting satellites against orbital debris is also possible with aramid fiber composites.
The demand for aerospace and defense materials for commercial aircraft is expected to grow due to the phenomenal growth in freight and commercial passenger traffic. This segment was responsible for 54.7% revenue share in 2019. It includes jets used for passenger, business, military, and police aviation. Due to the shorter travel time, this segment will see significant growth and productivity improvements over the forecast period.
Due to a slight drop in military spending, the demand for aerospace and defense material for military aircraft will see a slowdown in growth. In the near future, however, there will be a rise in demand for fighter planes. Other types of aircraft including Unmanned Aerial Vehicles (UAVs) and spacecraft require advanced materials as well as robust and temperature-resistant materials that offer resilience. For drone manufacturing, composites like carbon fiber-reinforced plasticmers are used extensively. To strengthen the outer structure of drones, titanium alloys and thermal protective tiles can be used.
Due to its large aviation manufacturing industry, North America will see increased use of composites in aerostructure. This region will support approximately one-third the global operational fleet. This will lead to an increase in demand for aircraft parts and airframes over the forecast period.
Europe's aerospace and defense industry is expected to grow at 2.9% CAGR in volume. This will be accompanied by an increase in defense spending from NATO countries. The market is expected to be driven by terrorist threats. The market will benefit from rising passenger traffic and falling airfares.
Asia Pacific will see the most rapid growth in the forecast period due to the phenomenal development of the regional aviation industry. The domestic mass production of the COMAC Chinese jet is expected to increase product demand in the next eight years. China is expected to be the fastest-growing market due to its growing economy and opportunities in aircraft maintenance and service. The government's efforts to improve domestic manufacturing and increase overall export to America are expected to drive regional demand for aerospace and defense materials.
Due to the growing popularity of the aircraft manufacturing industry, the market has a more competitive environment. China's emerging players, along with those from Asia, the Middle East, Africa and Latin America, will challenge the established players in North America.
Technology-driven key players are determined to target markets with long-term growth potential where they can build a sustainable competitive advantage. The market participants place emphasis on R&D for low-cost materials that can offer high strength and lightweight. End users are more focused on technology than cost reduction.
This report predicts revenue growth at the global, regional and country level and offers an analysis of industry trends in each sub-segment from 2014 to 2025. Grand View Research has divided the global aerospace and defence materials market report by product, application, end-use, and region.
Product Outlook (Volume of Kilotons; Revenues, USD Millions, 2016-2027)
Aluminium
Titanium
Composites
Superalloys
Steel
Plastics
Other
Application Outlook (Volume of Kilotons; Revenue USD Millions, 2016-2027)
Aero structure
Components
Cabin Interiors
Propulsion System
Equipment, Support & System
Satellites
Construction & Insulation Components
End-use Outlook (Volume of Kilotons; Revenues, USD Millions, 2016-2027)
Commercial
General Aviation & Business Aviation
Military
Other
Regional Outlook (Volume of Kilotons; Revenues; USD Millions, 2016-2027)
North America
The U.S.
Canada
Mexico
Europe
Germany
The U.K.
France
Italy
Czech Republic
Asia Pacific
China
Japan
Australia
Rest of the World
Brazil
South Africa
b. Global aerospace and defense materials market was valued at USD 20,738.3 millions in 2019, and is forecast to grow to USD 21,512.5 million by 2020.
What is the growth rate of the market for aerospace and defense materials?b. Global aerospace and defense materials markets are expected to grow at a compound annual growth rate 4.0% between 2019-2027, to reach USD 28,367.8 by 2027.
Which market segment had the largest share of the aerospace and defense materials markets?b. North America was the dominant market for aerospace and defense materials in 2019, with a 53.4% share. The market is expected to grow due to the increased replacement of old aircraft.
Which are the major players in the aerospace and defense material market?b. Huntsman International, LLC, Toray Composites, America, Inc., Sabic Innovative Plastics, Arconic Inc., Cytec Solvay Group are some of the key players in the aerospace/defense materials market.
What are the key factors that drive the market for aerospace and defense materials?b. b.
Up Market Research published a new report titled “Aerospace And Defense Materials Market research report which is segmented by Application (Components, Aerostructure), by Product (Composites, Aluminum), by End Use (Military, Commercial), By Players/Companies Sabic Innovative Plastics, Inc, Cytec Solvay Group, LLC, America, Arconic Inc (Alcoa Corp), Toray Composites, Huntsman International”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Aerospace And Defense Materials Market Research Report |
By Application | Components, Aerostructure |
By Product | Composites, Aluminum |
By End Use | Military, Commercial |
By Companies | Sabic Innovative Plastics, Inc, Cytec Solvay Group, LLC, America, Arconic Inc (Alcoa Corp), Toray Composites, Huntsman International |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 222 |
Number of Tables & Figures | 156 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Components, Aerostructure), by Product (Composites, Aluminum), by End Use (Military, Commercial).
Aerospace And Defense Materials Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Aerospace And Defense Materials Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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