Aerospace Materials Market by Type (Non-structural, Structural), Aircraft Type (Business & General Aviation, Commercial Aircraft, Helicopters), Application - Global Forecast 2024-2030

Aerospace Materials Market by Type (Non-structural, Structural), Aircraft Type (Business & General Aviation, Commercial Aircraft, Helicopters), Application - Global Forecast 2024-2030

The Aerospace Materials Market size was estimated at USD 52.90 billion in 2023 and expected to reach USD 57.22 billion in 2024, at a CAGR 8.37% to reach USD 92.90 billion by 2030.

Aerospace materials are specialized materials designed to meet the rigorous demands of use in aircraft, spacecraft, satellites, and various defense systems. These materials are selected based on their performance characteristics, which include strength, heat resistance, weight reduction, and durability, among others. The primary categories of aerospace materials include metals, composites, ceramics, and polymers. The increasing demand for new aircraft due to rising air passenger traffic and the replacement of older aircraft with more efficient models drives the demand for aerospace materials. The growing interest and investment in space exploration and satellite launches have further propelled the need for specialized aerospace materials that can withstand the harsh conditions of space. The high cost of aerospace-grade materials and the complex manufacturing processes limit the growth of the market. Continuous research and development efforts for the innovation of new materials and processing techniques, improving material properties, and broadening their applications are expected to create opportunities for market growth.

Regional Insights

The Americas holds a significant portion of the global aerospace materials market, primarily due to the strong presence of major aircraft manufacturers and suppliers. The region is characterized by high demand for both commercial and military aircraft, which directly influences the demand for aerospace materials. Advanced composite materials, aluminum, and titanium alloys are particularly in demand, reflecting the industry's focus on enhancing fuel efficiency and performance and reducing the environmental impact of air travel. The APAC region is witnessing substantial growth in the aerospace materials market, driven by increasing air traffic, rising disposable incomes, and the expansion of low-cost carriers, particularly in China and India. This growth is accompanied by a surging demand for new aircraft, which in turn fuels the demand for aerospace materials in the region. The focus is notably on composite materials and alloys that contribute to weight reduction and fuel efficiency. Japan and South Korea also contribute to the APAC market with advancements in materials science and significant investments in aerospace research and development. The EMEA region demonstrates a diverse aerospace materials market landscape. Europe, with countries such as France, Germany, and the UK, has a strong emphasis on reducing carbon emissions and enhancing aircraft performance, leading to increased investment in sustainable materials and technologies, such as bio-based composites and recycling processes for aerospace materials. The Middle East, while smaller in comparison to Europe in terms of aerospace manufacturing, is witnessing substantial growth in the aviation sector, thus impacting the demand for aerospace materials, propelled by the expansion plans of its airline companies.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Aerospace Materials Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Rapid growth of the aerospace industry with increasing manufacturing of aircraft
    • Ongoing investments in defense and military sectors across the globe
    • Rising research and development projects associated with space and aerospace engineering
    • Market Restraints
      • High cost of manufacturing and maintenance of aerospace-grade materials
      • Market Opportunities
        • Emergence of advanced materials for aircraft and aerospace components
        • Growing adoption of commercial unmanned aerial vehicles (UAV)
        • Market Challenges
          • Corrosion issues with certain aircraft materials and concerns associated with complex structures of aircraft
          • Market Segmentation Analysis
            • Type: Rising usage of aerospace materials across non-structural type of aerospace materials for bonding components while ensuring minimal weight
            • Aircraft Type: Widening utilization of aerospace materials in commercial aircraft owing to the need for fuel efficiency
            • Application: Expanding application of aerospace materials in satellite & space structures
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Aerospace Materials Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Aerospace Materials Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • GE Aerospace Amplifies Future of Flight Through USD 650 Million Strategy for Enhanced Production and Quality
              
              GE Aerospace revolutionized its operational capabilities and product excellence, through a strategic investment of USD 650 million in 2024, focusing on its Additive Manufacturing facilities in Alabama and Ohio. This financial infusion aims to elevate both production levels and quality standards, in service of its commercial and defense clientele. Envisioned in alignment with its transition to an autonomous entity, the investment highlights GE Aerospace's commitment to adopting advanced technology and reinforcing partnerships across communities and suppliers.
              
              Hexcel Unveils Advanced Composite Solutions and Launches New Carbon Fiber at JEC World 2024
              
              Hexcel Corporation launched its expansive range of advanced composite material solutions tailored for industries including aerospace, automotive, energy, and marine, at Booth H57, Hall 5. Hexcel introduced HexTow IM9 24K, a novel continuous carbon fiber, marking a significant advancement for aerospace construction. This new fiber is engineered to enhance manufacturing efficiency in primary and secondary structures of aerospace vehicles, offering superior tensile strength and productivity benefits due to its 24K tow size. Additionally, Hexcel's commitment to sustainability through strategic collaborations highlights its dedication to innovating eco-friendly material solutions.
              
              Opening of Chemetall's Global Aluminum Competence Center: A Leap Forward in Surface Treatment Innovations
              
              BASF's Coatings division, through its Surface Treatment global business unit operating under the Chemetall brand, recently inaugurated its Global Aluminum Competence Center in Giussano, Italy. This cutting-edge facility is set to fortify Chemetall's status as a global provider of aluminum substrate surface treatments.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Aerospace Materials Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Aerospace Materials Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Alcoa Corporation, Arkema S.A., ATI Inc., Axalta Coating Systems, LLC, BASF SE, Beacon Adhesives Inc., Boyd Corporation, Constellium SE, DuPont de Nemours, Inc., Endura Coatings, Evonik Industries AG, GE Aerospace, Greiner Group AG, Henkel AG & Co. KGaA, Hexcel Corporation, Hindalco Industries Limited by Aditya Birla Group, Kaiser Aluminum Corporation, Kobe Steel, Ltd., Master Bond Inc., Mitsubishi Chemical Group Corporation, Permabond LLC, Reliance Industries Limited, Rogers Corporation, SABIC, Safran S.A., SCHOTT AG, SEKISUI CHEMICAL CO., LTD., SGL Carbon SE, Smiths Metal Centres Limited, Solvay S.A., Spartec Composites Inc, Teijin Limited, The Dow Chemical Company, Toray Industries, Inc., UFP Technologies, Inc., Ulbrich Stainless Steel & Special Metals, Inc., and W. L. Gore & Associates, Inc..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Aerospace Materials Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Type
              • Non-structural
                • Adhesives
                  • Epoxy
                  • Polyurethane
                  • Silicone
                  • Coatings
                  • Foams
                    • Polyethylene
                    • Polyurethanes
                    • Specialty Foams
                    • Structural
                      • Alloys
                      • Composites
                        • Aramid Fiber
                        • Carbon Fiber
                        • Glass Fiber
                        • Plastics
                        • Aircraft Type
                          • Business & General Aviation
                          • Commercial Aircraft
                          • Helicopters
                          • Military Aircraft
                          • Application
                            • Avionics & Electrical Systems
                            • Engine Components
                            • Interior Components
                            • Satellite & Space Structures
                            • Structural Applications
                            • Thermal Protection Systems
                            • Region
                              • Americas
                                • Argentina
                                • Brazil
                                • Canada
                                • Mexico
                                • United States
                                  • California
                                  • Florida
                                  • Illinois
                                  • New York
                                  • Ohio
                                  • Pennsylvania
                                  • Texas
                                  • Asia-Pacific
                                    • Australia
                                    • China
                                    • India
                                    • Indonesia
                                    • Japan
                                    • Malaysia
                                    • Philippines
                                    • Singapore
                                    • South Korea
                                    • Taiwan
                                    • Thailand
                                    • Vietnam
                                    • Europe, Middle East & Africa
                                      • Denmark
                                      • Egypt
                                      • Finland
                                      • France
                                      • Germany
                                      • Israel
                                      • Italy
                                      • Netherlands
                                      • Nigeria
                                      • Norway
                                      • Poland
                                      • Qatar
                                      • Russia
                                      • Saudi Arabia
                                      • South Africa
                                      • Spain
                                      • Sweden
                                      • Switzerland
                                      • Turkey
                                      • United Arab Emirates
                                      • United Kingdom
                                      
                                      
                                      Please Note: PDF & Excel + Online Access - 1 Year