Aerospace Nickel Alloys Market is Forecasted to Reach US$ 8.3 Billion in 2031, Says Stratview Research

Stratview Research, a global market research firm has launched a report on the global aerospace nickel alloys market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2024: US$ 5.8 billion

Market Size in 2031: US$ 8.3 billion

Growth (CAGR): 4.6% during 2025-2031

Leading Aircraft Type: Commercial Aircraft

Leading Process Type: VIM Process

Leading Part Type: Turbine Discs

Leading Application Type: Non-Rotating

Leading Region: North America

Forecast Period: 2025-2031

Trend Period: 2019-2023

Base Year: 2024

Number of Segments Covered: 5

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights on the Aerospace Nickel Alloys Market:

The global aerospace nickel alloys market is segmented based on aircraft type, process type, part type, application type, and region.

Based on the aircraft type - The aerospace nickel alloys market is segmented into commercial aircraft, regional aircraft, helicopters, military aircraft, general aviation, and other aircraft types. Commercial aircraft are likely to be the dominant aircraft type of the market during the forecast period. An expected increase in production rates of the best-selling aircraft programs, introduction of variants of existing best-selling aircraft programs, such as B777X, huge order backlogs of both the significant OEMs (Boeing: 6,197 and Airbus: 8,749), 14,976 as of September 2024, technological advancements, and fleet modernization and expansion are key factors behind the dominance of the commercial aircraft segment.

Based on the process type - The market is segmented by process type into VIM (vacuum induction melting) and other process types. The vacuum induction melting (VIM) process leads the market driven by its key features, such as precise control over the melting environment, high purity, uniform microstructures, reduced oxidation, and flexibility, i.e., suitable for producing small batches of superalloys. VIM prevents air contamination, resulting in high-purity superalloys. This process allows for precise control over the chemical composition of the alloys.

Based on the part type - The market is segmented by part type into turbine discs, shafts, casing, blades, landing gear, fasteners, and other part types. Turbine discs are expected to remain the most dominant part type of the market over the forecasted years. Turbine discs, casing, and blades are expected to remain the most attractive segments in the aero-engine applications. In contrast, landing gear is the most lucrative non-engine application for nickel alloy products. The development of high-thrust engines requires materials that can withstand extreme temperatures and stress. Nickel alloys play a vital role in producing crucial parts such as blades, casings, turbine discs, and shafts of high-thrust engines.

Based on the application type - The market is segmented into rotating and non-rotating applications based on application type. Non-rotating applications dominate the market during the forecast period. Major non-rotating applications are casings, exhaust systems, and landing gear. Major rotating applications are turbine discs, shafts, and blades. Nickel alloys’ high-temperature strength, corrosion resistance, and overall durability make them indispensable for a wide range of non-rotating applications.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to be the dominant region, whereas Asia-Pacific is likely to experience the fastest growth in the market during the forecast period. This growth outlook is majorly attributed to the following–

-         North America dominates the aerospace nickel alloys market due to its strong presence of major aeroengine OEMs, such as GE Aerospace, Pratt & Whitney, and Honeywell International Inc., which drives significant demand.

-         Additionally, the region is home to leading players, such as ATI Inc., Haynes International, Inc., Carpenter Technology Corporation, and Precision Castparts Corp. (Special Metals Corporation), further solidifying its market position.

Likewise, The Asia-Pacific region is expected to witness the fastest growth in the aerospace nickel alloys market, driven by key programs such as the Safran-DRDO joint venture (JV) engine and GTRE’s custom-designed engines for the AMCA. Additional growth factors include the rising demand for commercial aircraft to accommodate increasing passenger traffic, the establishment of Boeing and Airbus assembly plants in India and China, and a growing preference for air travel and tourism.

Aerospace Nickel Alloys Market Drivers:

Some of the key drivers listed in the report are given below.

-         An expected rise in the production rate of key programs (A220, A320neo family, A350XWB, B737Max, and B787), the entry of new programs (C919, B777x, etc.).

-         The growing aircraft fleet size.

-         Increasing demand for high-temperature-resistant superalloys in jet engines, turbine blades, and structural components.

-         Development of high-thrust turbofan engines.

-         The benefits of nickel alloys.

Top Companies in the Aerospace Nickel Alloys Market:

The market is moderately concentrated, with some local, regional, and global players. Most of the major players compete on some of the governing factors, including price, product offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players.

-         ATI, Inc.

-         Precision Castparts Corp. (Special Metals Corporation)

-         Carpenter Technology Corporation

-         Aperam S.A.

-         Haynes International, Inc.

-         Proterial, Ltd. (Earlier Hitachi Metals, Ltd.)

-         Aubert & Duval

-         VDM Metals Group

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

Related Reports:

-         Nickel Alloys Market

-         Titanium Alloys Market

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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