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.
The growth of the global aerospace materials market is driven by increase in demand for lightweight and efficient aircraft. In addition, upa surge in spending power of consumers and rise in air passenger traffic in emerging countries have led to an 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. 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.
The key players operating in the aerospace materials market industry include Mitsubishi Chemical Holdings Corporation, PPG Industries Inc., DuPont, Solvay, SABIC, Sumitomo Bakelite Co. Ltd., Toray Industries Inc., Röchling, Hexcel Corporation, and SGL Carbon. These players have adopted several strategies such as new product launch, agreement, acquisition, partnership, and expansion to sustain the intense competition in the market.
KEY BENEFITS FOR STAKEHOLDERS
Key Market Segments
By Type
By Application
By Type of Aircraft
Key Market Players
The growth of the global aerospace materials market is driven by increase in demand for lightweight and efficient aircraft. In addition, upa surge in spending power of consumers and rise in air passenger traffic in emerging countries have led to an 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. 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.
The key players operating in the aerospace materials market industry include Mitsubishi Chemical Holdings Corporation, PPG Industries Inc., DuPont, Solvay, SABIC, Sumitomo Bakelite Co. Ltd., Toray Industries Inc., Röchling, Hexcel Corporation, and SGL Carbon. These players have adopted several strategies such as new product launch, agreement, acquisition, partnership, and expansion to sustain the intense competition in the market.
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 Segments
By Type
- Composite
- Resin
- Fiber
- Metal
- Steel
- Aluminum
- Titanium
- Plastic
- PEEK
- PMMA
- ABS
- PC
- PPS
- Others
By Application
- Interior
- Passenger Seating
- Galley
- Interior
- Panels
- Others
- Exterior
- Propulsion Systems
- Airframe
- Tail & Fin
- Windows & Windshields
By Type of Aircraft
- Commercial
- Military
- Rotorcraft
- Space
Key Market Players
- Mitsubishi Chemical Holdings Corporation
- PPG Industries Inc.
- DuPont
- Solvay
- SABIC
- Sumitomo Bakelite Co. Ltd.
- Toray Industries Inc.
- Röchling
- Hexcel Corporation
- SGL Carbon
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Aerospace Materials Market, By Type
Chapter 5: Aerospace Materials Market, By Type of Aircraft
Chapter 6: Aerospace Materials Market, By Application
Chapter 7: Aerospace Materials Market, By Region
Chapter 8: Competitive Landscape
Chapter 8: Company Profiles:
Executive Summary
According to the report titled 'Aerospace Materials Market by Type, Application, and Type of Aircraft: Global Opportunity Analysis and Industry Forecast, 2019-2026', the global aerospace materials market accounted for revenue of $3,950 million in 2018, and is anticipated to generate $6,518.5 million by 2026, registering a CAGR of 6.5% from 2019 to 2026.Aerospace materials comprise composites based on fiber-reinforced concrete; plastics such as PEEK, PMMA, and PPS; and metals such as steel and titanium. They offer enhanced properties such as high tensile strength, high temperature tolerance, and enhanced transparency. Thus, manufacturers are replacing conventional metals by enhanced materials such as advanced plastic composites and metals & alloys.
The growth of the global aerospace materials market is driven by increase in demand for lightweight and fuel-efficient aircrafts. In addition, rise in spending power and air passenger traffic leads to growth in fleet sizes. Moreover, introduction of new domestic and international routes acts as a major driver of the market. Furthermore, the key factor predicted to lead to the market growth is rise in fuel costs, thus making aircraft more efficient. However, complex designing of composites and plastics structures is hampering the aerospace materials market growth. In addition, implementation of stringent regulations on production of petro-based products and carbon fibers restricts the availability of high-grade materials, thereby hampering the growth of the global market. Conversely, the market offers tremendous opportunity owing to development of the commercial aviation sector in emerging economies.
The aerospace materials market is segmented into type, application, type of aircraft, and region. Depending on type, the market is categorized into composites, metals, and plastics. The composite segment garners the largest share in the type segment. The composite segment is further classified into resins and fiber. The fiber segment is subdivided into glass fiber-based, carbon fiber-based, and aramid fiber-based. The resin segment is segregated into epoxy, phenolic, polyester, thermoplastics, polyimides, and others. The metal segment is subsegmented into steel, aluminum, and titanium. The plastics segment is subclassified into PEEK, PMMA, ABS, PC, PPS, and others. The applications covered in the study include interior and exterior. The interior segment is further fragmented into passenger seating, galley, interior panels, and others. The exterior segment is further divided into propulsion systems, airframe, tail & fin, and windows & windshields. The exterior segment garners highest market share in terms of revenue in 2018. On the basis of type of aircraft, the market is categorized into commercial, military, rotorcraft, and space. Commercial segments is highest share gainer, and is expected to grow at higher CAGR owing to its increased demand from emerging economies. Region wise, the aerospace materials market analysis is done across North America, Europe, Asia-Pacific, and LAMEA. In 2018, North America dominates the market, however, Asia-Pacific is expected to grow at a significant CAGR during the forecast period.
The key players operating in the aerospace materials market industry are Mitsubishi Chemical Holdings Corporation, PPG Industries Inc., DuPont, Solvay, SABIC, Sumitomo Bakelite Co. Ltd., Toray Industries Inc., Röchling, Hexcel Corporation, and SGL Carbon. These players adopted several strategies such as new product launch, agreement, acquisition, partnership, and expansion to sustain the intense competition in the market. Acquisition was the most adopted strategy by major companies.
Key findings of the study:
Italy is projected to grow at the highest CAGR of approximately 8.3%, in terms of revenue, during the forecast period.
By type of aircraft, the space segment is anticipated to grow with CAGR 8.2%, in terms of revenue, during the forecast period.
The U.S. and UK dominated the market with highest revenue shares in 2018.
A comprehensive analysis of the factors that drive and restrain the market growth is provided.
The qualitative data in this report aims at the market dynamics, trends, and developments in the industry.
Companies Mentioned
- Mitsubishi Chemical Holdings Corporation
- PPG Industries Inc.
- DuPont S.L.ay
- SABIC
- Sumitomo Bakelite Co. Ltd.
- Toray Industries Inc.
- Röchling
- Hexcel Corporation S.L.Carbon.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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