The composite materials aluminum alloys aerospace global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Composite Materials Aluminum Alloys Aerospace Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The composite materials aluminum alloys aerospace market size has grown rapidly in recent years. It will grow from $29.16 billion in 2023 to $32.54 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to increased air traffic, increased travel and tourism, population growth, rise in disposable income, growth of the aviation industry.
The composite materials aluminum alloys aerospace market size is expected to see rapid growth in the next few years. It will grow to $49.53 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to emerging market demand, fuel-efficient airframe designs, sustainable aviation materials, market entry of new players, and growing need for commercial aircrafts. Major trends in the forecast period include 3d printing and additive manufacturing, electrification of aircraft, technological advancements,integration of digital technologies and supply chain optimization, and strategic collaborations.
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Scope Of Composite Materials Aluminum Alloys Aerospace Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Composite Materials Aluminum Alloys Aerospace Market Overview
Market Drivers –
An increase in consumer preference for flight transportation is expected to propel the growth of composite materials aluminum alloys aerospace market. Air transportation refers to the movement of people and goods via any mode of transportation capable of sustained controlled flight. Due to their high strength capabilities and corrosion-resistance characteristics, aluminum alloys are frequently favored materials for aerospace designs. Also, aluminum is roughly a third of the weight of steel, allowing an aircraft to carry more weight and or become more fuel efficient. For instance, according to the International Air Transport Association (IATA), an airline industry association, total global passenger traffic in March 2022 increased by 76.0% compared to March 2021. Also, in China, domestic air traffic increased by 11.7% in March 2022. Therefore, an increase in consumer preference for flight transportation is driving the demand for composite materials aluminum alloys aerospace market.
The composite materials aluminum alloys aerospace market covered in this report is segmented –
1) By Type: Aluminum Alloys, Titanium Alloys, Steel Alloys, Composites
2) By Product: Carbon Fiber Composite Materials, Glass Fiber Composite Materials, Aramid Fiber Composite Materials, Other Products
3) By Application: Commercial Aircraft, Business And General Aviation, Military Aircraft, Helicopters, Other Applications
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Regional Insights –
North America was the largest region in the composite materials aluminum alloys aerospace market in 2023. North America is expected to be the fastest growing region in the forecast period. The regions covered in the composite materials aluminum alloys aerospace market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the composite materials aluminum alloys aerospace market include Toray Industries Inc., Koninklijke Ten Cate B.V., Teijin Limited, Renegade Materials Corp., Owens Corning, Materion Corp., HEXEL Works Inc., Solvay S.A., Mitsubishi Rayon Co. Ltd., SGL Group, Alcoa Corporation, Constellium SE, Fitbit, Kobe Steel Ltd., Novelis Inc., AMG Critical Materials NV, Allegheny Technologies Incorporated, Aleris Corporation, Kaiser Aluminum Corporation, Arconic Inc., Precision Castparts Corp., Thyssenkrupp Aerospace India Pvt Ltd., United Aluminum Corporation, BAE Systems, Bombardier Inc., GE Aviation, Honeywell Aerospace, Pratt & Whitney, Rolls-Royce Holdings plc, The Boeing Company, Airbus SE, Lockheed Martin Corporation, Spirit AeroSystems Inc., Triumph Group Inc., Safran S.A.
Table of Contents
1. Executive Summary
2. Composite Materials Aluminum Alloys Aerospace Market Report Structure
3. Composite Materials Aluminum Alloys Aerospace Market Trends And Strategies
4. Composite Materials Aluminum Alloys Aerospace Market – Macro Economic Scenario
5. Global Composite Materials Aluminum Alloys Aerospace Market Size and Growth
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31. Global Composite Materials Aluminum Alloys Aerospace Market Competitive Benchmarking
32. Global Composite Materials Aluminum Alloys Aerospace Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Composite Materials Aluminum Alloys Aerospace Market
34. Composite Materials Aluminum Alloys Aerospace Market Future Outlook and Potential Analysis
35. Appendix
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