Aerospace and Defense Materials

Aerospace and Defense Materials

Global Aerospace and Defense Materials Market to Reach US$34.8 Billion by 2030

The global market for Aerospace and Defense Materials estimated at US$24.2 Billion in the year 2023, is expected to reach US$34.8 Billion by 2030, growing at a CAGR of 5.3% over the analysis period 2023-2030. Composites, one of the segments analyzed in the report, is expected to record a 6.0% CAGR and reach US$14.5 Billion by the end of the analysis period. Growth in the Aluminum Alloys segment is estimated at 4.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$7.7 Billion While China is Forecast to Grow at 7.6% CAGR

The Aerospace and Defense Materials market in the U.S. is estimated at US$7.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.8 Billion by the year 2030 trailing a CAGR of 7.6% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.6% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.3% CAGR.

Global Aerospace and Defense Materials Market - Key Trends & Drivers Summarized

Aerospace and defense materials are specialized materials used in the manufacturing of aircraft, spacecraft, and defense systems. These materials are designed to meet stringent requirements for strength, durability, lightweight, and resistance to extreme conditions. Common materials used in the aerospace and defense industries include aluminum alloys, titanium alloys, high-strength steels, composites, and advanced ceramics. The choice of materials is critical to ensuring the performance, safety, and reliability of aerospace and defense systems. The industry continually seeks to develop and adopt new materials that offer superior properties and can withstand the demanding conditions of aerospace and defense applications.

The aerospace and defense materials market is driven by technological advancements and the need for materials that can enhance the performance and efficiency of aircraft and defense systems. Lightweight materials, such as composites and advanced alloys, are increasingly being used to reduce the weight of aircraft, improve fuel efficiency, and enhance payload capacity. High-temperature materials, such as titanium and advanced ceramics, are essential for components exposed to extreme heat, such as jet engines and missile systems. The development of new manufacturing techniques, such as additive manufacturing (3D printing), is also enabling the production of complex and lightweight components with improved material properties.

The growth in the aerospace and defense materials market is driven by several factors. Firstly, the increasing demand for fuel-efficient and lightweight aircraft is a major driver, prompting the adoption of advanced materials. Secondly, the rising investments in defense systems and the need for high-performance materials in military applications are boosting market growth. Thirdly, advancements in material science and the development of new materials with superior properties are expanding the range of applications. Additionally, the growth of the commercial aviation sector and the increasing production of aircraft are contributing to the demand for aerospace materials. Furthermore, the adoption of additive manufacturing technologies is enabling the production of innovative and complex components. Lastly, government initiatives and investments in aerospace and defense research are further driving the development and adoption of advanced materials in the industry.

Select Competitors (Total 196 Featured) -

• Alcoa Corporation
• 3M Company
• Arkema Group
• AMG Advanced Metallurgical Group N.V.
• Aperam SA
• Arconic, Inc.
• Arnold Magnetic Technologies
• Advanced Composites, Inc.
• Alcast Technologies Ltd.
• Argosy International Inc.
• Avdel (India) Pvt. Ltd.
• Aluminum Die Cast Co., Inc.
• AirMetals, Inc.
• Atlas Composite Technologies Ltd.
• Avient Corp.

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