Composite Materials Aluminum Alloys Aerospace Market worth $53 billion by 2030, at CAGR of 11.34% – IndustryARC

According to the latest market research report on the Composite Materials Aluminum Alloys Aerospace Market, published by IndustryARC, The Composite Materials Aluminium Alloys Aerospace market size is forecast to reach USD 53 billion by 2030, after growing at a CAGR of 11.34% during 2024-2030. Composite materials and aluminum alloys have long played critical roles in the aerospace industry, each with its own set of benefits.

The Composite Materials Aluminum Alloys Aerospace Market research report is segmented By Product: Aramid Fiber Composite Materials, Carbon Fiber Composite Materials, Glass Fiber Composite Materials, and Other Products by Aircraft Type (Rotary Wing, Fixed Wing, Other Aircraft Types), By Type (Steel Alloys, Titanium Alloys, Aluminum Alloys, Composites), By Application (Helicopters, Business, And General Aviation, Commercial Aircraft, Military Aircraft, Other Applications), By Geography [North America (U.S., Canada, Mexico), Europe (UK, Germany, Italy, France, Spain, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil,Argentina, Chile, Rest of South America), Middle East & Africa (Qatar, Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)] which provides comprehensive analysis of global market & industry forecast (2023 – 2030).

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North America Anticipated to Show the Fastest Growth in the Market:

The North American Composite Materials Aluminum Alloys Aerospace market dominated the geography segment in 2023.

The availability of trained labor as well as the presence of well-established aircraft manufacturing businesses such as Boeing, Lockheed Martin, and United Technologies Corp. are driving up demand for aerospace composites in North America.  Composites have several advantages: flexibility, lightweight, durability, and corrosion resistance. According to the American Composites Manufacturers Association, the composites industry provides $22.2 billion to the US economy each year, and the end-product market for composites is expected to reach $113 billion by 2022, hence assisting market growth.

Composite Materials Aluminum Alloys Aerospace Market 2023-2030: Scope of the Report

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Composite Materials Aluminum Alloys Aerospace Market Report – Key Takeaways:

The market is being driven by ongoing developments in aerospace technology

Aircraft type dominated the Composite Materials Aluminum Alloys Aerospace market with a market share of 40% in 2023. Aerospace technology breakthroughs continue to drive the creation of more fuel-efficient and environmentally friendly aircraft. Composite materials, notably those containing aluminum alloys, are critical to these technological advancements. As an example, Researchers at the Russian National University of Science and Technology (NUST) MISIS created a nanocarbon additive for aluminum powder generated from spent oil in November 2020 to improve 3D printing of aerospace composites.

Aramid Fiber Composite Materials dominated the Composite Materials Aluminium Alloys Aerospace market

Aramid Fiber Composite Materials dominated the Composite Materials Aluminum Alloys Aerospace market with a market share of 35% in 2023. Aramid fiber is also known as “super fiber” or a “golden silk” due to its weighing just 20% that of steel, it is over five times as durable and does not burn, even at 500°C. Aramid fiber is a crucial material used in various applications such as aerospace materials. Aramid fibers, like carbon fiber, have a low weight-to-strength ratio, which adds to the composite materials’ overall lightweight nature. In the aerospace industry, where weight reduction of aircraft components is critical for fuel efficiency and performance, this is very beneficial. For instance, in 2020, The Chinese Academy of Sciences and Yantai Tayho Advanced Materials Co., Ltd. partnered to develop novel, high-performance aramid fibers for the aerospace sector.

The ongoing helicopter developments can be viewed as a positive step forward in the development of military helicopters

A military helicopter is a tactical vehicle that has improved significantly over time and has shown to be helpful on the battlefield.In addition, the necessity to replace outdated helicopters has fueled demand for newer-generation helicopters. For example, Sikorsky, a subsidiary of Lockheed Martin Corporation, signed a five-year contract with the US Army Contracting Command in August 2021 to maintain and overhaul the main rotor blade of Black Hawk helicopters for the US Army. The contract was for USD$116.5 million. Increased orders will drive up demand for helicopter parts and components, such as main and tail rotor blades.

Increased Defense Government Spending in the United States and Europe

Defense spending in the United States surged by $71 billion between 2021 and 2022, owing in part to military aid supplied to support Ukraine in its protracted conflict, and the country now spends more on defense than the next ten countries combined (up from outspending the next nine countries combined in 2021). The European Union (EU) spent $260.6 billion on military in 2022, a 6% increase over 2021. In absolute terms, this was the largest defense spending for the EU’s 27 member states. Europe’s military spending increased at the fastest rate in at least 30 years.

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Key Opportunity Analysis:

Growing Demand for Lightweight Materials

Since aluminum alloys have special qualities including low density, high strength, resistance to corrosion, and excellent thermal conductivity, they are utilized extensively in many sectors, including the aircraft industry. In aerospace applications, aluminum alloys are essential because they assist in reducing the total weight of the aircraft, which enhances operational performance and fuel economy. Aluminum alloys weigh around one-third less than carbon and stainless steel. The market for aerospace composites is expected to rise rapidly during the forecast period 2024-2030 as demand for lightweight aircraft rises rapidly in developing economies.

Growing Demand from The Aeronautics and Space Industries

The Aluminum Association states that for military aircraft as well as commercial aircraft, aluminum alloys are the material of choice. Furthermore, aluminum is necessary for space exploration in NASA spacecraft, space shuttles, and the International Space Station. As the demand for air travel continues to grow globally, aircraft manufacturers experience increased demand for new airplanes. This, in turn, boosts the demand for advanced materials, including composite materials and aluminum alloys, which are crucial for constructing lightweight and fuel-efficient aircraft. For instance, On October 12, 2023, Novelis, a global leader in aluminum rolling and recycling and a top supplier of sustainable aluminum solutions, announced that it had extended its agreement with Airbus.

This move highlighted the desire for lightweight, fuel-efficient aircraft, which favored the usage of composite materials

This move highlighted the need for lightweight, fuel-efficient aircraft, which favored the usage of composite materials. As a result, aircraft manufacturers began to delve deeper into sophisticated composite materials and their applications. Aluminum alloys continue to play an important role, particularly in current fleets, but the aerospace industry has progressively shifted toward composite materials to meet industry goals of increased fuel efficiency and lower environmental impact. As a result, the COVID-19 pandemic functioned as a catalyst, driving the industry toward more sustainable materials and technology while still recognizing aluminum alloys’ lasting importance in aerospace applications.

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The Report also Covers the Following Areas:

• Composite Materials Aluminum Alloys Aerospace Market Size and Forecast
• Composite Materials Aluminum Alloys Aerospace Market Trends
• Composite Materials Aluminum Alloys Aerospace Market Analysis by Type

Composite Materials Aluminum Alloys Aerospace Market 2022-2030: Key Highlights

• CAGR of the market during the forecast period 2024-2030
• Value Chain analysis of key stakeholders
• Detailed analysis of market drivers and opportunities during the forecast period
• Composite Materials Aluminum Alloys Aerospace market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Composite Materials Aluminum Alloys Aerospace Market

Covid and Ukrainian Crisis Impact:

• The COVID-19 pandemic has caused significant disruptions in global supply chains which has impacted the availability and cost of raw materials as well as the transportation of finished products. This has resulted in increased lead times, reduced production, and higher costs. Additionally, the pandemic has caused delays in investment in new capacity and infrastructure which could impact the long-term supply and demand dynamics in the market.
• The Ukraine and Russia conflict led to an increase in prices and a reduction in production which further led to a shortage of Composite Materials Aluminum Alloys Aerospace. Many companies have shut business in Russia; temporarily shutting down their plants in Ukraine. Additionally, the crisis in Ukraine has also led to a reduction in investments in the Composite Materials Aluminum Alloys Aerospace market as companies are hesitant to invest in a region that is facing political and economic instability. This could impact the long-term supply and demand dynamics of the market.

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List of Top Companies in the Composite Materials Aluminum Alloys Aerospace Market:

The Global Composite Materials Aluminum Alloys Aerospace Market is moderately concentrated as the majority share is held by the leading Composite Materials Aluminum Alloys Aerospace providers. The key companies profiled are listed below:

1. Alcoa Corporation
2. Novelis Inc.
3. Toray Industries Inc
4. Mitsubishi Chemical Group
5. Teijin Limited
6. Hexcel
7. Constellium
8. Solvay S.A.
9. SGL Group
10. Kobe Steel Ltd.
11. Renegade Materials
12. Owens Corning
13. Royal Ten Cate
14. Bally Ribbon Mills
15. Toho Tenax Co., Ltd.

Related Reports:

Aerospace Materials Market – The primary drivers of growth in the worldwide aerospace materials market are rising demand for new aircraft, higher aircraft size, technological advancements, and a high replacement rate. Aluminum alloys, titanium alloys, and composite materials are employed in the construction of airplanes. However, the increased use of composite materials and titanium alloys in the next generation of aircrafts is projected to drive greater demand for these materials in the near future.

Aerospace Foam Market – The Aerospace Foam Market is expected to reach US$8.1 billion by 2028, increasing at a CAGR of 6.9% between 2024 and 2030. aircraft foam is a cellular structured substance that is used in the aircraft sector because to its low density. Polyurethane foam, polyethylene foam, ceramic foam, metal foam, and other types of aerospace foam are widely used for insulation, cushioning, and vibration dampening.

Aircraft Seating, Seat Cover, Amenities and Auxiliaries Market – Seats in a commercial airplane are typically placed in rows and columns across the plane. According to IndustryARC, the worldwide aircraft seat market is growen at a CAGR of over 6.5% from around 219,186 seats in 2014 to more than 319,900 seats in 2020. The suite class sector of commercial aircrafts is predicted to increase the most. Business class is predicted to grow at an 8.8% CAGR as commercial airlines focus on business client types to improve profits while receiving high quantities of bookings through their LCC operations. Both tactics are required to boost ASK for airlines and generate profitability.

Automotive Actuators Market – Transducers that transform energy into motion are known as automotive actuators. They are in charge of many mechanisms in automobiles, such as applying brakes, controlling doors, regulating lighting, and so on. These devices can operate everything from a simple switch to high-power hydraulic devices and valves in a car. Different motors, such as stepper motors, linear motors, and Permanent Magnet DC motors (PMDC), control the actuators. The motor is used differently depending on the function. The expanding automotive market and the implementation of new CO2 emission standards in emerging and developed nations are the primary driving reasons behind the market’s expansion.

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