Global Aluminum Alloys for Aerospace Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Aluminum Alloys for Aerospace Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Aluminum and its alloys make up 75% to 80% of the materials used in modern aircraft. With low mass density, high specific strength and good elastic stiffness, excellent ductility, high corrosion resistance, moderate price, and very good manufacturability, aluminum alloy has become the material of choice for many aerospace structural applications. Aluminum alloys are a lightweight option compared to steel, allowing aircraft to carry more weight and improve fuel efficiency. The types of aluminum products commonly used in aerospace parts include aluminum sheets, aluminum sheets and rods. Aluminum alloys are most commonly used in fuselages, wings, and support structures.

Market Overview:

The latest research study on the global Aluminum Alloys for Aerospace market finds that the global Aluminum Alloys for Aerospace market reached a value of USD 4473.38 million in 2023. It’s expected that the market will achieve USD 6562.3 million by 2029, exhibiting a CAGR of 6.59% during the forecast period.

Own advantages

Aluminum alloys have excellent properties in terms of mechanics and chemistry. In terms of mechanics, it is mainly reflected in low density, high strength, and high modulus. Aluminum has a low density and is lighter than other metals, only 1/4 of steel, so it is suitable for applications that require high weight reduction. In terms of chemical properties, because aluminum alloy can form a dense oxide film on the surface of the air, which can protect itself from deep oxidation, it has excellent corrosion resistance, and its chemical composition is very stable. Aluminum alloy has good plasticity and can be processed into various profiles. It has excellent electrical and thermal conductivity, so it is widely used in industry, and its consumption is second only to steel.

Aluminum alloys are a popular choice for aircraft fuselages due to their light weight, strength, and corrosion resistance. First, they are very strong and lightweight, making them ideal for use in high-performance aircraft that need to be able to fly long distances without compromising performance. Second, aluminum alloys have excellent fatigue resistance and can withstand high levels of stress without cracking or cracking. This makes them ideal for building aircraft fuselages and wings. Another major advantage of aluminum alloys is their corrosion resistance. This is especially important for aircraft as they often spend a lot of time exposed to adverse weather conditions such as rain, snow, wind, and even lightning strikes. Additionally, aluminum's excellent thermal conductivity helps reduce heat buildup in the cabin during long-haul flights. The use of aluminum can significantly reduce the weight of the aircraft. Not only does this help the plane stay in the air, but it also makes it more fuel-efficient and able to carry larger loads. Therefore, aviation aluminum alloy has the advantages of being lightweight, high strength, and corrosion resistant, and occupies an important position in the aircraft industry.

The aerospace field is actively driving the development of the industry

The aerospace industry is a concentrated expression and an important symbol of the country's comprehensive national strength. In recent years, countries have made continuous efforts in the aerospace field. In terms of aerospace, global space activities will achieve many important milestones in 2022. Launch vehicles, deep space exploration, manned spaceflight, satellites, and other fields have shown new trends of innovation and development, and global space activities will continue to maintain a trend of sustained and healthy development. In the field of civil aviation, the global large commercial aircraft market will generally rebound in 2021, with both total deliveries and total orders rising sharply. With the optimization of epidemic prevention and control measures in various countries around the world, it is expected that global aviation demand will gradually return to pre-epidemic levels. The continued growth in global air travel is due to several factors. The first is the rise of low-cost airlines. Second is the growth of the global middle class, especially in the Asia-Pacific region. Both of these developments have increased the number of consumers who can afford air travel. In addition, there is the improvement of airport infrastructure in emerging economies, which increases the global carrying capacity. According to the U.S. Department of Transportation, U.S. airlines will carry 194 million more passengers in 2022 than in 2021, a 30% year-over-year increase. Aerospace equipment such as aircraft has special requirements such as high stability, high speed, high safety, and repeated use. Aluminum alloys have become commonly used materials in aerospace design due to their high strength and corrosion resistance. Therefore, the steady development of the aerospace industry is actively driving the market demand for aviation aluminum alloys.

Region Overview:

In 2022, the share of the Aluminum Alloys for Aerospace market in North America stood at 37.46%.

Company Overview:

The major players operating in the Aluminum Alloys for Aerospace market include Arconic, Constellium, Kaiser Aluminum, Novelis, UACJ, etc. Among which, Arconic ranked top in terms of sales and revenue in 2023.

Arconic is built on an extraordinary heritage of innovation that began with the founding of Alcoa in 1888. Arconic businesses have helped shape the aerospace, automotive and building and construction industries since the days of the Wright brothers and Henry Ford. On November 1, 2016, Arconic launched as a global leader in multi-material, precision-engineered products and solutions for high-growth markets, following our successful separation from Alcoa’s bauxite, alumina and aluminum products units.

Segmentation Overview:

By type, 7000 Series segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Single Aisle Aircraft segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Aluminum Alloys for Aerospace market covered in Chapter 3:

Kaiser Aluminum
Novelis
UACJ
Rusal
Arconic
Rio Tinto
Constellium

In Chapter 4 and Chapter 14.2, on the basis of types, the Aluminum Alloys for Aerospace market from 2019 to 2030 is primarily split into:

2000 Series
6000 Series
7000 Series
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Aluminum Alloys for Aerospace market from 2019 to 2030 covers:

Single Aisle Aircraft
Wide Body Aircraft
Cargo Aircraft
Military Aircraft
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)