Aerospace Emerging Materials: Global Market Scenario, Trends, Opportunity, Growth and Forecast, 2020-2030

Market Definition

Materials used in aerospace are often metal alloys that have either been developed for use in aerospace or have gained notoriety as a result of their use in aerospace. These applications frequently call for materials with high strength, heat resistance, or performance, even when doing so requires expensive manufacturing or machining processes. Others are selected because of their durability and fatigue resistance in this safety-conscious profession.

Market Insights

Global aerospace material market stood at more than $15 billion in 2022 and anticipated to grow at a CAGR of more than 8% during the forecast period. When choosing a steel alloy for the aircraft sector, it is important to carefully analyse the unique physical and thermochemical stresses that the target steel must withstand. Due to their heavier weight as compared to the other advanced aerospace materials taken into consideration here, advanced steel alloys are only occasionally employed in aeroplanes. Actuators, hinges, mechanical shafts, landing gear, engine parts, generators, and other mechanical equipment that is subject to high stress or that requires extremely high physical strength and/or physical and chemical resistance make up a large portion of its application. As a result, within the overall footprint of an airplane or helicopter, advanced steel alloys can be found in select areas and locations, rather than spread across the entire piece of equipment, as is more common for lighter structural materials-aluminum, for example. Markets reflect this comparatively limited usage.

The market is dominated by advanced aluminium alloys, which is also indicative of aluminum’s overall dominance in the aerospace sector. Superalloys, which are almost solely utilised in the manufacture of turbomachinery, including jet engines and rocket engines, are the next generation of aluminium alloys after advanced aluminium alloys. Titanium alloys, which are developing quickly and starting to compete with aluminum-based alloys, and advanced steel alloys, which are primarily used in high-load applications where the capacity to withstand significant stress and/or corrosion resistance are required, are two other significant markets in this area. Curiously, the markets for ceramic matrix composites will grow more quickly than those for any of the other categories we have taken into account, including other advanced/non-ceramic composites.

Market Dynamics: Drivers

Rotary Helicopter Market

Market demand considerations associated to helicopters have a significant impact on the markets for advanced materials for rotary applications. As a result, the commercial helicopter industry is distinct from the markets for commercial passenger and cargo aircraft and is influenced by entirely distinct global market trends. Offshore industrial operations, particularly those related to the oil and gas industries, provide support for significant portions of the global helicopter market.

Market Segmentation

• Based on Technology, the Global Aerospace Emerging Materials market is segmented into
  • Advanced aluminum alloys
  • Super alloys
  • Advanced composites – CFRP
  • Titanium alloys
  • Advanced steel alloys
  • Ceramic-matrix composites
  • Advanced adhesives
• Based on Application, the Global Aerospace Emerging Materials market is segmented into
  • Commercial passenger aircraft
  • Commercial transport aircraft
  • Defense industry and government
  • General aviation
  • Commercial space industry
  • Helicopters
• Based on Geography, the Global Aerospace Emerging Materials market is segmented into
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

• All market revenue has been given in US Dollar.

Historical Year: 2020-2021
Base Year: 2022
Estimated: 2023
Forecast- 2024-2030

Key Questions this Study will Answer

• What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Market Size-By Volume, Forecast Numbers, Market Segmentation, Market Shares) of Global Aerospace Emerging Materials Market?
• What is the region wise industry size, growth drivers and challenges key market trends?
• What are the key innovations, opportunities, current and future trends and regulations in the Global Aerospace Emerging Materials Market?
• Who are the key competitors, what are their key strength and weakness and how they perform in Global Aerospace Emerging Materials Market based on competitive benchmarking matrix?
• What are the key results derived from the market surveys conducted during Global Aerospace Emerging Materials Market study?