Aerospace Raw Materials Market is Forecasted to Reach US$ 19.3 Billion in 2028, Says Stratview Research

Stratview Research, a global market research firm, has launched a report on the global aerospace raw materials 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 2028: US$ 19.3 billion

Growth (CAGR): 5.3% during 2023-2028

Leading Platform Type: Commercial Aircraft

Leading Material Type: Titanium & Alloys

Leading Form Type: Billet (of titanium & alloys), sheet & plate (of aluminum & alloys), and long products (of steel & alloys), and prepreg (of composites)

Leading Sales Channel Type: Direct Sales

Leading Region: North America

Forecast Period: 2023-2028

Trend Period: 2017-2021

Base Year: 2022

Number of Segments Covered: 5

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights on the Aerospace Raw Materials Market:

The global aerospace raw materials market is segmented based on platform type, material type, form type, sales channel type, and region.

Based on platform type – The aerospace raw materials market is segmented into commercial aircraft, regional aircraft, general aviation, military aircraft, helicopter, and spacecraft. Commercial aircraft is expected to remain the largest and fastest-growing platform in the market during the forecast period. With the consistent rise in commercial aircraft deliveries in 2022, Airbus secured the delivery lead for the fourth consecutive year, having delivered 663 aircraft, surpassing Boeing's 480 shipments. In the previous year (2021), Boeing and Airbus delivered 340 and 611 aircraft, respectively. Boeing's recent announcement for setting up a line for B737Max in the USA is likely to allow the company to produce the aircraft at a faster rate. A similar exercise was performed by Airbus, installing its first A320neo assembly line in France.

Based on material type - The aerospace raw materials market is segmented into titanium & alloys, aluminum & alloys, steel & alloys, composites, and others. Titanium & Alloys are expected to remain the dominant material in the market during the forecast period. Over the years, there has been a greater penetration of titanium parts as new aircraft programs are built with higher titanium content. In terms of volume, aluminum & alloys hold a significant share as all the legacy aircraft platforms, such as B737 and A320, are built with extensive use of aluminum alloys.

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 remain the largest market for aerospace raw materials during the forecast period. This growth outlook is majorly attributed to the following–

·      The USA is the growth engine of the region’s market and has one of the largest fleets of commercial and military aircraft in the world.

·      Due to the presence of major companies, the region is the early go-getter in the industry concerning technology and material adoption.

Likewise, Asia-Pacific is likely to witness the fastest growth during the forecast period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, increasing defense budget of key economies, opening of assembly plants of Boeing and Airbus, and upcoming indigenous commercial aircraft (COMAC C919).

Aerospace Raw Materials Market Drivers:

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

·      The major players are shifting from aluminum to advanced materials, especially carbon composites and titanium, in the latest aircraft programs.

Top Companies in the Aerospace raw materials Market:

The market is gradually heading towards consolidation as the industry recorded a good number of mergers & acquisitions to tap growing opportunities in this briskly expanding market. For instance, in 2015, Solvay SA acquired Cytec Industries Inc. to enhance its advanced material portfolio. Similarly, in 2018, Toray, the world’s largest supplier of carbon fiber, acquired TenCate Advanced Composites Holding B.V. (TCAC) from Koninklijke Ten Cate B.V. Also, in 2015, Alcoa Corporation, the world’s leading supplier of aluminum, acquired RTI International Metals, gaining excellent capabilities in the aerospace titanium market. Stratview Research has identified the following companies as the top market players:

• Arconic Corporation
• VSMPO-AVISMA Corporation
• Allegheny Technologies, Inc.
• Titanium Metals Corporation (TIMET)
• Constellium SE
• Kaiser Aluminum Corporation
• Carpenter Technology Corporation

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:

-      Aerospace Nickel Alloys Market

-      Specialty Alloys Market

-      Nickel Alloys Market

About us –

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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