The global aerospace raw materials market is projected to witness a growth rate of 5.3% annually from 2023 to 2028, with an anticipated size of US$ 19.3 billion by 2028, according to an analysis by Stratview Research.
Stratview Research, a global market research firm, has launched a report on the global aerospace raw materials market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights
| Market Size in 2028 (billion US$) | 19.3 |
| Growth (CAGR) | 5.3% during 2023-2028 |
| Forecast Period | 2023-2028 |
| Trend Period | 2017-2021 |
| Base Year | 2022 |
| Number of Segments Covered | 5 |
| Number of Tables & Graphs | 100+ |
| Country-Level Market Assessment | 19 |
Segment Insights on the Aerospace Raw Materials Market:
The global aerospace raw materials market is segmented based on Platform type, Material type, Form type, Sales Channel type, and Region.
Based on platform type – the aerospace raw materials market is segmented into commercial aircraft, regional aircraft, general aviation, military aircraft, helicopter, and spacecraft. Commercial aircraft is expected to remain the largest and fastest-growing platform in the market during the forecast period. With the consistent rise in commercial aircraft deliveries in 2022, Airbus secured the delivery lead for the fourth consecutive year, having delivered 663 aircraft, surpassing Boeing’s 480 shipments. In the previous year (2021), Boeing and Airbus delivered 340 and 611 aircraft, respectively. Boeing’s recent announcement for setting up a line for B737Max in the USA is likely to allow the company to produce the aircraft at a faster rate. A similar exercise was performed by Airbus, installing its first A320neo assembly line in France.
Based on material type – the market is segmented into titanium & alloys, aluminum & alloys, steel & alloys, composites, and others. Titanium & Alloys are expected to remain the dominant material in the market during the forecast period. Over the years, there has been a greater penetration of titanium parts as new aircraft programs are built with higher titanium content. In terms of volume, aluminum & alloys hold a significant share as all the legacy aircraft platforms, such as B737 and A320, are built with extensive use of aluminum alloys.
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that North America is expected to remain the largest market for aerospace raw materials during the forecast period. This growth outlook is majorly attributed to the following–
- The USA is the growth engine of the region’s market and has one of the largest fleets of commercial and military aircraft in the world.
- Due to the presence of major companies, the region is the early go-getter in the industry concerning technology and material adoption.
Asia-Pacific is likely to witness the fastest growth during the forecast period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, increasing defense budget of key economies, opening of assembly plants of Boeing and Airbus, and upcoming indigenous commercial aircraft (COMAC C919).
Aerospace Raw Materials Market Drivers:
Some of the key drivers listed in the report are given below.
- In 2022, Boeing bolstered its portfolio by introducing a new 777X-based freighter, expanding its 777X and cargo offerings,
- Boeing aims to achieve a delivery rate of four 777s per month by 2025/26,
- In September 2023, Airbus achieved significant milestones, delivering 55 jets, comprising four A220s, 44 A320s (all NEO), two A330s, and five A350s. Both Airbus and Boeing are planning to raise their production rates for key programs in the coming years.
Top 10 Companies in the Aerospace Raw Materials Market:
Major OEMs in the market are striving to achieve type certification for their aerospace raw materials aircraft. After completing certification, they collaborate with established aircraft and automotive giants to accelerate commercial manufacturing. Stratview Research has identified the following companies as the top market players:
- Arconic Corporation
- VSMPO-AVISMA Corporation
- Allegheny Technologies, Inc.
- Titanium Metals Corporation (TIMET)
- Constellium SE
- Kaiser Aluminum Corporation
- Carpenter Technology Corporation
What Deliverables Will You Get in This Report?
| Key questions this report answers | Relevant contents in the report |
| How big is the sales opportunity? | In-depth analysis of the Aerospace Raw Materials Market |
| How lucrative is the future? | Market forecast and trend data and emerging trends |
| Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
| Which are the most attractive market segments? | Market segment analysis and forecast |
| Who are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
| How complex is the business environment? | Porter’s five forces analysis, PEST analysis, Life cycle analysis |
| What are the factors affecting the market? | Drivers & challenges |
| Will I get the information on my specific requirements? | 10% free customization |
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About us –
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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