The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
The commercial aircraft airframe materials market is expected to grow significantly, rising from $6.72 billion in 2023 to $7.48 billion in 2024, achieving a CAGR of 11.3%. This expansion is driven by increased air traffic, growth in travel and tourism, rising disposable incomes, and the overall growth of the aviation industry.
What Is the Estimated Growth Rate and Market Size of the Global Commercial Aircraft Airframe Materials Market?
The market size is expected to see rapid growth in the next few years. It will grow to $11.35 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. 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 next-generation aircraft development, advanced electric and hybrid propulsion, innovative aircraft sustainability, initiatives, technological advancements, use of advanced materials for fuel efficiency.
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What Are The Significant Drivers Behind The Growth Of The Commercial Aircraft Airframe Materials Market?
An increasing fleet size of commercial aircraft is set to propel the market. As the global commercial fleet is projected to surpass 49,000 airplanes by 2040, the demand for durable and lightweight materials essential for aircraft construction will rise. This growth presents significant opportunities for manufacturers of airframe materials, essential for the aviation industry.
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Which Top Companies Are Shaping The Growth Of The Commercial Aircraft Airframe Materials Market?
Major companies operating in the market include Solvay S.A, Constellium SE, Arconic Corporation, Toray Industries Inc., Teijin Limited, Southwest Aluminium, Hexcel Corporation, VSMPO-AVISMA Corporation, ATI Industrial Automation, HITCO Carbon Composites Inc, Kobe Steel Ltd., Alcoa Corporation, AMG Advanced Metallurgical Group NV, Dupopnt de Nemours Inc., The Boeing Company, Lockheed Martin Corporation, Commercial Aircraft Corporation of China (COMAC), Airbus SE, TATA Advanced Systems Ltd., Spirit AeroSystems Inc., Cytec Solvay Group, Mitsubishi Chemical Corporation, Owens Corning, Koninklijke Ten Cate BV, Henkel AG & Co. KGaA, Huntsman Corporation, SGL Carbon SE, BASF SE, Evonik Industries AG, Norsk Titanium AS, Aleris Corporation, Kaiser Aluminum Corporation, Materion Corporation, Precision Castparts Corp., ThyssenKrupp Aerospace
Which Emerging Trends Are Reshaping the Commercial Aircraft Airframe Materials Market Size?
Companies in the market are innovating with new materials to enhance their competitiveness. For example, in July 2021, Markforged launched Onyx FR-A and Carbon Fiber FR-A, aerospace composite materials designed for aircraft interiors that meet Flame, Smoke, and Toxicity (FST) standards. These materials offer a high strength-to-weight ratio and are suitable for highly regulated aerospace applications.
What Are The Segments In The Global Commercial Aircraft Airframe Materials Market?
The commercial aircraft airframe materials market covered in this report is segmented –
1) By Type: Aluminum Alloys, Titanium Alloys, Composites, Steel Alloys
2) By Application: Narrow-Body Aircraft, Wide-Body Aircraft, Regional Aircraft, Other Applications
Middle East: Largest Region in the Commercial Aircraft Airframe Materials Market
Middle East was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Commercial Aircraft Airframe Materials Market Definition
Commercial aircraft airframe materials are lightweight components that form the structure of aircraft, offering increased strength while minimizing weight. Aluminum and magnesium are commonly used due to their durability and corrosion resistance.
The Commercial Aircraft Airframe Materials Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Commercial Aircraft Airframe Materials Market Report: Trends, Opportunities, Strategies, and More
The Commercial Aircraft Airframe Materials Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into commercial aircraft airframe materials market size, commercial aircraft airframe materials market drivers and trends, commercial aircraft airframe materials market major players, commercial aircraft airframe materials competitors' revenues, commercial aircraft airframe materials market positioning, and commercial aircraft airframe materials market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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