The global aluminum alloys aerospace materials market is expected to reach USD 5,546.6 Million by 2028, according to a new report by Reports and Data. The market registered a shipment of 416.8 Kilo Tons, in terms of volume, which is over 40% of the total aerospace materials market. There is an increasing demand for innovative and high-quality metals and alloys in the aerospace industry. Various applications, including carrying of passengers, astronauts, or fighter pilots, increase the market demand for aerospace products, which must comply with the performance and quality of the highest standards under extreme conditions. The characteristics of aluminum alloys to offer high weight to strength ratios, corrosion resistance, and formability, among others, is expected to drive the market growth in the forecast period. Few advantages of aluminum alloys include high performance under cryogenic temperatures, less dense than steel but with similar strength, and does not rust.
Aluminum is an essential component for modern aircraft. The growing trend towards manufacturing lightweight aircraft would be causative of an increase in the market demand during the forecast period. Aluminum alloys are extensively deployed in aircraft fuselages and other engineering structures and compounds where lightweight and corrosion resistance are necessary.
Key participants include Huntsman International LLC, Alcoa Corp., Kobe Steel Ltd., DowDuPont Inc., Kaiser Aluminum, Aleris International Inc., AMI Metals Inc., Rusal, Constellium N.V., and Hexcel Corporation among others.
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A rapid increase in global passenger and cargo aircraft fleet, along with an increase in the number of passengers, is likely to propel market demand in the future. The passenger and freight traffic is estimated to increase at a modest rate in the upcoming years, and as a result would fuel the demand for aircraft. Increase in consumer preference for flight transportation in developing regions due to growing living standards, mainly in countries like China and India, the Middle East, and other Asia-Pacific region countries, is anticipated to boost the demand for aluminum alloys for production of aircraft. Aerospace materials such as steel alloys, super alloys, titanium alloys, and composites may create hindrance in the growth of the market in the forecast period.
For the purpose of this report, Reports and Data have segmented global aluminum alloys aerospace materials on the basis of aluminum alloy type, alloy grade, aircraft type, application, and region:
Aluminum Alloy Type Cause Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Alloy Grade Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Aircraft Type Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Application Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Regional Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Further key findings from the report suggest
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Indicative Metrics
Chapter 4. Aluminum Alloys Aerospace Materials Segmentation & Impact Analysis
4.1. Aluminum Alloys Aerospace Materials Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Growing demand for lightweight and fuel-efficient aircrafts
188.8.131.52. Increase in consumer preference for flight transportation in APAC
184.108.40.206. Technological Advancements
220.127.116.11. Rise in the level of disposable income
18.104.22.168. Stringent Regulations
4.2.3. Market restraints analysis
22.214.171.124. Availability of substitute materials
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
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