Global Aerospace Materials Market Overview:

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, January 4, 2024 /EINPresswire.com/ — The global aerospace materials market is poised for growth, ascending from $19.68 billion in 2022 to $20.46 billion in 2023, reflecting a Compound Annual Growth Rate (CAGR) of 3.9%. The market is expected to rebound, reaching $25.69 billion in 2027 at a robust CAGR of 5.9%.

Driving Forces: Demand for Lightweight and Fuel-Efficient Aircraft
Surging demand for lightweight and fuel-efficient aircraft, driven by stringent pollution control standards, propels the aerospace materials market. Advanced materials play a crucial role in meeting emission limits and enhancing fuel efficiency.

Carbon Fiber Composites Innovation:
An emerging trend in the aerospace materials market is the development of carbon fiber composites for diverse aerospace structures and parts. Carbon fiber’s properties, including being lightweight, durable, corrosion-resistant, and temperature-resistant, make it an ideal choice for various aerospace applications.

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Key Players:
Major players shaping the aerospace materials market landscape include Toray Industries, Inc., DuPont de Nemours, Inc., Aleris International, Hexcel Corporation, Alcoa Corporation, Koninklijke Ten Cate BV, Arkema S.A., Cytec Solvay Group, Arconic Inc., SABIC, NOVELIS, Gurit, Constellium N.V, WS Atkins plc, Teijin Limited, and Hyosung Advanced Materials.

Trends and Innovations:
Lightweight Materials in Aircraft Interiors:
In response to the demand for fuel efficiency, materials like Onyx FR-A and Carbon Fiber FR-A, developed by Markforged, are being incorporated into various parts of aircraft interiors. These materials leverage fiber reinforcement technology to enhance fuel consumption efficiency and improve engine performance.

Regional Dynamics:
•European Dominance: Europe held the largest share in the aerospace materials market in 2022, highlighting the region’s significant contribution to the industry’s growth.
•Global Coverage: The market analysis report spans regions, encompassing Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Market Segmentation:
1) By Type: Aluminum Alloys, Steel Alloys, Titanium Alloys, Super Alloys, Composites
2) By Aircraft Type: Commercial Aircraft, Business and General Aviation, Civil Helicopters, Military
3) By Application: Aero Structure, Components, Cabin Interiors, Propulsion System, Equipment, System, and Support, Satellites, Construction and Insulation Components

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Aerospace Materials Global Market Report 2023 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Aerospace Materials Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on aerospace materials market size, aerospace materials market drivers and trends, aerospace materials market major players, competitors’ revenues, market positioning, and market growth across geographies. The aerospace materials market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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