The
global aerospace & defense materials market size
is estimated to reach USD 27.44 billion by 2025, according to a new report by
Grand View Research, Inc., exhibiting a CAGR of 4.3% during the forecast
period. Increasing demand for lightweight materials in order to reduce the
weight and increase fuel efficiency of an aircraft is projected to boost market
growth.
The aerospace & defense materials market exhibits low
competitive rivalry due to limited number of players offering suitable products
to aircraft manufacturers. Moreover, aircraft manufacturers prefer to enter in
long-term supply agreements with reliable material suppliers, thereby further
reducing the competitive rivalry.
Price of materials, such as aluminum, is influenced by
growing exports of products from China. Furthermore, spiraling demand for
aluminum due to dynamic growth of the building & construction industry in
developing economies is poised to have a notable impact on prices.
Air Transport Association (ATA) introduced emission
policy options in 2010 to reduce aircraft emissions in order to protect the
environment. This has encouraged aircraft manufacturing companies to
incorporate lightweight materials into structure to reduce overall weight and
increase fuel efficiency.
Industry participants in North America and Europe are
anticipated to face disruptive competition due to emerging players in Asia,
especially China and Japan, which are offering comparatively low-cost material
solutions. Material manufacturers are investing significantly in research &
development to provide high strength and lightweight materials at competitive
costs.
Full Research Report On aerospace & defense
materials market Analysis:
https://www.grandviewresearch.com/industry-analysis/aerospace-defense-materials-market
https://www.grandviewresearch.com/industry-analysis/aerospace-defense-materials-market
Further
key findings from the report suggest:
·
Composites are likely to register the
highest growth of 4.2% from 2018 to 2025, owing to their superior
characteristics such as lightweight, high strength, and ability to withstand
impact
·
Commercial aircraft is expected to be
valued at USD 16.20 billion by 2025, owing to increasing demand from developing
economies coupled with rising use of alloys and composites in aircraft
construction
·
Aero structure was the largest aircraft
part segment in terms of revenue in 2017. It is estimated to witness a
noteworthy CAGR of 4.9% over the forecast period owing to growing use of
composites by manufacturers
·
North America was the leading revenue
contributor in the market, representing more than 50.0% in 2017, owing to
presence of major aircraft and component manufacturers in the region
·
Major companies in the market focus on mergers
& acquisitions in order to expand their business and technological
capabilities. Hexcel Corporation acquired aerospace & defense business of
Oxford Performance Materials in December 2017 in order to expand its portfolio
in additive manufacturing for aerospace & defense component manufacturing
View
More Reports Of This Category By Grand View Research At:
https://www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the global aerospace
& defense materials market on the basis of product, aircraft part, aircraft
type, and region:
Aerospace
& Defense Materials Product Outlook (Volume, Kilotons; Revenue, USD
Million, 2014 - 2025)
·
Aluminum
·
Titanium
·
Composites
·
Superalloys
·
Steel
·
Plastics
·
Others
Aerospace
& Defense Materials Application Outlook (Volume, Kilotons; Revenue, USD
Million, 2014 - 2025)
·
Aero structure
·
Components
·
Cabin Interiors
·
Propulsion System
·
Equipment, System, & Support
·
Satellites
·
Construction & Insulation Components
Aerospace
& Defense Materials Aircraft Type Outlook (Volume, Kilotons; Revenue, USD
Million, 2014 - 2025)
·
Commercial
·
Business & General Aviation
·
Military
·
Others
Aerospace
& Defense Materials Regional Outlook (Volume, Kilotons; Revenue; USD
Million, 2014 - 2025)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o U.K.
o France
o Italy
o Czech
Republic
·
Asia Pacific
o China
o Japan
o Australia
·
Rest of the World
o Brazil
o South
Africa
Access Full Press Release of this Report:
https://www.grandviewresearch.com/press-release/global-aerospace-defense-materials-market
https://www.grandviewresearch.com/press-release/global-aerospace-defense-materials-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For
more information: https://www.grandviewresearch.com/