The global aerospace & defense materials market size is projected to reach USD 23,825.45 million by 2027, exhibiting a CAGR of 4.21% during the forecast period.

The aerospace and defense industries are characterized by their demanding requirements for materials that can withstand extreme conditions, from the frigid temperatures of outer space to the intense heat and pressure of jet engines. These industries rely on a diverse range of materials, each with its own unique properties that contribute to the safety, performance, and efficiency of aircraft, spacecraft, and military equipment.

List of Companies Profiled in the Aerospace & Defense Materials Market Report:

Teijin Ltd. (Renegade Materials Corp.) (Japan), Koninklijke Ten Cate BV (Netherlands), AMI Metals Inc. (US), Hexcel Corporation (US), Huntsman (US), Arconic Inc. (US), Sofitec (Spain), TATA Advanced Materials Limited. (India), Materion Corp. (US), Evonik Industries (Germany), Toray Composite Materials America, Inc. (US)

Market Driver

Rising Adoption of Carbon Fiber Composites to Feed Market Growth

The aerospace & defense materials market growth is slated to accelerate as airliners expand application of carbon fiber composites in their aircraft fleet. Carbon fiber is known for its excellent lightweight and enhanced durability properties, which make aircrafts more fuel-efficient. Moreover, composites of this material are resistant to fatigue and corrosion, which lowers maintenance costs of components. For example, Airbus tested the new carbon fiber wings on its advanced A350 XWB in 2014 and found that the wings displayed greater flex, strength, and rigidity compared its aluminum predecessors. A more recent example is the introduction Sigrafil, a novel carbon fiber with a high Young’s modulus developed by SGL Group, designed for use in aerospace applications.

Key Materials and Their Applications

• Aluminum Alloys: These are lightweight, strong, and corrosion-resistant materials widely used in aircraft structures, including fuselages, wings, and landing gear.
• Titanium Alloys: Known for their high strength-to-weight ratio and excellent corrosion resistance, titanium alloys are used in critical components like jet engine blades, fasteners, and structural parts.
• Composite Materials: These materials, often made from a combination of fibers (such as carbon fiber or glass fiber) and a resin matrix, offer high strength, stiffness, and lightweight properties.They are used in aircraft structures, wings, and other components where weight reduction is crucial.
• Superalloys: These high-temperature alloys are essential for jet engine components like turbine blades and combustor liners, as they can withstand extreme heat and pressure.
• Ceramics: These materials, known for their heat resistance, wear resistance, and electrical insulation properties, are used in components like engine seals, nose cones, and heat shields.

Regional Analysis

North America to Hold Lion’s Share in the Market Backed by Surging Commercial Aircraft Production

North America, especially the US, has a robust domestic air transport industry, with the country registering the second-highest passenger journeys in 2018, as per IATA statistics. This, coupled with massive spending on military aircrafts, will enable the region to dominate the aerospace & defense materials market share in the coming years. The market size in North America in 2019 was at USD 9,878.83 million.

In Europe, the market growth is based on France’s capacity to produce large volumes of commercial as well as military aircrafts. The market in Asia-Pacific is set to rise on the shoulders of the increasing investments by India and China in enhancing their indigenous aircraft manufacturing and development capabilities.

Source- https://www.fortunebusinessinsights.com/aerospace-defense-materials-market-102980

Driving Factors and Market Trends

• Increasing Demand for Aircraft: The global aviation industry is experiencing steady growth, driven by factors such as economic development, urbanization, and the rising middle class. This growth is fueling demand for new aircraft, which in turn drives demand for aerospace materials.