According to a recent market study published by Growth Market Reports, titled, “Global Aerospace Raw Materials Market by type, by category, by applications, and by Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at US$ 35,301.3 Million in 2022 and is anticipated to grow at a growth rate 7.7% by the year 2031.

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Aerospace raw materials are fundamental substances used in the creation, assembly, and maintenance of aircraft and spacecraft. These materials are selected for their specialized properties that contribute to the structural integrity, performance, and safety of aerospace vehicles. Aerospace raw materials encompass a diverse range, including metals such as aluminum, titanium, and steel that are known for their strength and durability. Additionally, advanced composites, ceramics, polymers, and alloys are employed to achieve specific characteristics such as lightness, resistance to high temperatures, corrosion protection, and electrical conductivity. These materials serve as the building blocks for various aerospace components, from aircraft frames to engine parts and interior furnishings. The selection of appropriate raw materials is driven by the stringent demands of the aerospace sector, where lightweight, reliability, and resistance to extreme conditions are paramount. The aerospace raw materials sector is deeply intertwined with technological progress and innovation in aviation & space exploration.

The Global Aerospace Raw Materials Market has been fragmented based on material type, aircraft type, application, and regions. Based on Type, the Global Aerospace Raw Materials Market is segmented into Superalloys, Aluminum Alloys, Stainless Steel, Titanium Alloys, Iron Casted Materials, Composite Materials, Ceramics, Plastics, and Others. Based on aircraft type, the Global Aerospace Raw Materials Market is segmented Commercial Aircraft, Military Aircraft, Helicopters, Business General Aviation, and Others. Based on application type, the global aerospace raw materials market is segmented into interior, exterior, and propulsion systems. The interior segment is further divided into seating, galley, aisle, panels, and others. The exterior segment is further segregated into fuselage, tail & fin, undercarriage, and others. The propulsion systems segment is further bifurcated into propulsion system engine and others.

The Global Aerospace Raw Materials Market was slightly impacted by the covid-19, owing to the disruption in the supply chain and limitations in the cross broader transaction. However, the use of Aerospace Raw Materials is likely to rise in commercial sector in the near future.

Key Takeaways from the Study:

  • Key players operating in the market are Alcoa Corporation, ATI Inc., Carpenter Technology LLC, Hexcel Corporation, Kaiser Aluminum, Novelis, Teijin Limited, Timet, Toray Industries, Inc., and VSMPO-AVISMA. These companies are considered as key players in Aerospace Raw Materials market based on their revenue, research development (R&D) activities, offerings, regional presence, and supply chain management system.

  • Based on Material Type, the Global Aerospace Raw Materials Market is segmented into Superalloys, Aluminum Alloys, Stainless Steel, Titanium Alloys, Iron Casted Materials, Composite Materials, Ceramics, Plastics, and Others. The composite materials segment accounted for a large market share of XX% in 2022 and is expected to reach a market value of USD XX Million by 2031. Carbon fiber composites are used in a variety of aerospace applications, from commercial airliners to military aircraft and even spacecraft. Some notable examples include the Boeing 787 Dreamliner and the Airbus A350, both of which make extensive use of carbon fiber composites in their construction.

  • Based on aircraft type, the global aerospace raw materials market is segmented into commercial aircraft, military aircraft, helicopters, business general aviation and others. The commercial aircraft segment accounted for XX% share of the market in 2022 and is expected to be valued at USD XX Million by 2031, expanding at a CAGR of XX% during the forecast period. Commercial and military aircraft manufacturing major Boeing has scaled up purchase of raw materials from India for its global requirements with domestic manufacturing of aircraft components dominating its business engagement in India.

  • Based on application type, the global aerospace raw materials market is segmented into interior, exterior, and propulsion systems. The interior segment is further divided into seating, galley, aisle, panels, and others. The exterior segment is further segregated into fuselage, tail & fin, undercarriage, and others. The propulsion systems segment is further bifurcated into propulsion system engine and others. The seating segment held a XX% value share of the market in 2022. The segment is expected to expand at XX% CAGR between 2023 and 2031. Increased aircraft production drives the need for seating components and subsequently, the materials used to manufacture them. It also offers a wide range of attachment options, making them highly versatile for various applications.

  • On the basis of region, the Global Aerospace Raw Materials Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & and Africa (MEA). The US has one of the largest fleets of military and commercial aircraft in the world. North America leads the market in terms of early adoption of technology and materials, due to the presence of major companies in the region. Europe is another significant market, with established players such as Airbus. The region has been investing in the research and development of advanced materials to improve aircraft efficiency and reduced emissions. Additionally, the increasing demand for specialized materials for military aircraft and equipment in the defense sector in Europe is driving the market in the region. Asia Pacific has been registering rapid growth in the aerospace sector, driven by the increasing demand for air travel, rising middle-class population, and expanding economies in the region. Countries such as China, India, and Japan contribute to the growth of the market in the region.

Report Scope:

Report Metric

Details

Market Value in 2022

US$ 35,301.3 Million

Market Growth Rate (from 2016 to 2031)

7.7%

Historical Data

2016 to 2021

Base Year

2022

Forecast Period

2023 - 2031

Units Considered

Value (US$ Million)

Market Segments

By Material Type, By Aircraft Type, By Application, and By region

Key Companies Profiled

Alcoa Corporation, ATI Inc., Carpenter Technology LLC, Hexcel Corporation, Kaiser Aluminum, Novelis, Teijin Limited, Timet, Toray Industries, Inc., and VSMPO-AVISMA

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Manufacturer, distributors, wholesaler, and Supplier.

  • Demand Side: Aircraft Manufacturers, and Aircraft Component Manufacturers.