USD 39.01 billion
Global Aerospace and Defense Materials Market Size, Share, Growth Analysis, By Material Type(Metals, Composites), By Application(Commercial aerospace, Military and Defense) - Industry Forecast 2024-2031
Report ID:
SQMIG20A2167 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|
Tables:
64 |
Figures:
75
Global Aerospace and Defense Materials Market Insights
Global Aerospace and Defense Materials Market size was valued at USD 39.01 billion in 2022 and is poised to grow from USD 43.77 billion in 2023 to USD 72.20 billion by 2031, growing at a CAGR of 7.08% during the forecast period (2024-2031).
The aerospace and defense materials market is driven by factors such as increasing defense expenditures, rising demand for commercial aircraft, technological advancements, and the need for lightweight and high-performance materials. With growing geopolitical tensions and the need to modernize military equipment, defense budgets have witnessed a steady increase, creating opportunities for the aerospace and defense materials market.
Additionally, there is a growing focus on the development of sustainable and eco-friendly materials. As environmental concerns and regulations become more stringent, aerospace and defense manufacturers are increasingly adopting materials with lower carbon footprints. This includes the use of bio-based materials, recyclable composites, and lightweight alloys. The shift towards sustainable materials not only addresses environmental concerns but also offers cost-saving benefits in terms of fuel efficiency and reduced maintenance.
US Aerospace and Defense Materials Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Composites
Fastest Growth
Plastics
Growth Rate
7.08% CAGR
Global Aerospace and Defense Materials Market ($ Bn)
Country Share for North America Region (%)
Global Aerospace and Defense Materials Market By Type ($ Bn)
Global Aerospace and Defense Materials Market By Type (%)
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Global Aerospace and Defense Materials Market Segmental Analysis
The global aerospace and defense materials market is segmented by equipment type, application, material type, and region.By material type, it can be segmented into metals, composites, plastic and others. Based on application, the market is segmented into commercial aerospace, military & defense and others.Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
Among the different types of materials in the global aerospace and defense materials market, composites have emerged as the most dominant type, while plastics are experiencing the fastest growth. This analysis highlights the dominance and rapid growth of composites and plastics in the aerospace and defense materials market, providing insights into their respective market positions.The dominance of composites can be attributed to their exceptional strength-to-weight ratio, corrosion resistance, and thermal stability. These properties make composites highly suitable for aerospace applications where lightweight, durable, and high-performance materials are required. Additionally, composites offer design flexibility, allowing manufacturers to create complex shapes and structures, further driving their adoption in the industry.
On the other hand, plastics, while currently holding a smaller market share compared to composites, are witnessing rapid growth in the aerospace and defense materials market. Plastics provide numerous advantages, including their low weight, cost-effectiveness, and excellent electrical insulation properties. With advancements in plastic technologies, the industry has seen the development of high-performance plastics that offer improved strength, impact resistance, and flame retardancy. These characteristics make plastics ideal for various applications, such as interior components, cabin equipment, and non-structural parts of aircraft and defense systems. The growing demand for lightweight materials and the need for efficient fuel consumption are driving the adoption of plastics in the aerospace and defense sector
Analysis by Application
This analysis highlights the dominance of the Commercial Aerospace segment in the global aerospace and defense material market and identifies the Military Aerospace sector as the fastest-growing application. These trends reflect the evolving dynamics of the aerospace industry, where the demand for commercial air travel continues to rise while defense spending focuses on modernizing military capabilities. Manufacturers and suppliers in the aerospace and defense material market can capitalize on these trends by aligning their product offerings and innovation efforts to cater to the specific requirements of these dominant and rapidly growing sectors.
Among the applications in the global aerospace and defense material market, the dominant segment is the commercial aerospace sector. Commercial aerospace refers to the manufacturing, development, and maintenance of aircraft intended for commercial use, such as passenger airlines and cargo carriers. This segment holds a significant share in the market due to the increasing air travel demand, expansion of commercial airline fleets, and the continuous development of new aircraft models to meet passenger needs.
On the other hand, the fastest-growing application in the global aerospace and defense material market is the military aerospace sector. Military aerospace involves the production and maintenance of aircraft, including fighters, transporters, and surveillance planes, for military purposes. The growing geopolitical tensions, increasing defense budgets in various countries, and the need to modernize military fleets are driving the demand for advanced military aerospace materials.
Global Aerospace and Defense Materials Market By Type, 2023 (%)
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Global Aerospace and Defense Materials Market Regional Insights
In terms of regional dominance, North America emerges as the most dominant region in the global aerospace and defense materials market. The region has a well-established aerospace and defense industry, with major aircraft manufacturers and defense contractors headquartered in countries like the US and Canada. These companies have a high demand for advanced materials to meet the stringent safety and performance requirements of modern aircraft and defense systems. Additionally, North America's focus on technological advancements and innovation gives it a competitive edge in the global market.
While North America holds the dominant position, the Asia Pacific region is witnessing the fastest growth in the global aerospace and defense materials market. This growth can be attributed to several factors, including the increasing air passenger traffic in countries like China and India, the rising defense budgets of emerging economies, and the establishment of indigenous aerospace manufacturing capabilities. Countries in the Asia Pacific region are investing heavily in the development of new aircraft and defense systems, driving the demand for lightweight and durable materials. Moreover, the region's growing middle-class population and increasing disposable income are contributing to the expansion of air travel, further fueling the demand for aerospace materials.
Global Aerospace and Defense Materials Market By Region, 2024-2031
- Largest
- Fastest
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Global Aerospace and Defense Materials Market Dynamics
Drivers
Increasing Air Passenger Traffic
- The increasing growth in global air passenger traffic is fueling the demand for new aircraft, driving the need for advanced aerospace materials. This growth has led to a focus on enhancing fuel efficiency, reducing emissions, and improving overall aircraft performance. As a result, lightweight materials like composites are becoming increasingly prevalent in aircraft manufacturing.
Restraints
Supply Chain Challenges
- The aerospace and defense materials industry faces supply chain challenges due to its complex nature, involving multiple suppliers and stringent quality control measures. The sourcing and management of reliable, high-quality materials, particularly for specialized applications, can be a challenging task. Disruptions in the supply chain can have significant impacts on production schedules and lead to increased costs. Thus, maintaining a robust and efficient supply chain is crucial for the industry's success.
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Global Aerospace and Defense Materials Market Competitive Landscape
The competitive landscape of the market is shaped by various factors, including technological advancements, product innovation, strategic collaborations, and geographic expansion. Companies in this market strive to stay ahead by investing in research and development activities to develop materials with enhanced performance characteristics, such as lightweight, high strength, heat resistance, and improved fuel efficiency. The market players focus on expanding their product portfolios to offer a comprehensive range of materials catering to different aerospace and defense applications. This includes composites, alloys, metals, ceramics, and specialty materials. Companies also emphasize the development of environmentally sustainable materials to align with the increasing focus on sustainability and reduce the environmental impact of aerospace and defense operations.
Top Player’s Company Profiles
- Alcoa Corporation (US)
- Toray Industries, Inc. (Japan)
- Hexcel Corporation (US)
- Constellium SE (France)
- Teijin Limited (Japan)
- ATI (Allegheny Technologies Incorporated) (US)
- Solvay S.A. (Belgium)
- Aleris Corporation (US)
- TenCate Advanced Composites (Netherlands)
- Cytec Solvay Group (Belgium)
- Mitsubishi Chemical Carbon Fiber and Composites, Inc. (Japan)
- BASF SE (Germany)
- SGL Carbon SE (Germany)
- DuPont de Nemours, Inc. (US)
- Reliance Industries Limited (India)
- Owens Corning (US)
- Kaman Corporation (US)
- Materion Corporation (US)
- Norsk Titanium AS (Norway)
- TATA Advanced Materials Limited (India)
Recent Developments
- In September 2021, Nanomaterials, such as nanocomposites and nanocoatings, showcased potential applications in aerospace and defense materials. These materials offer enhanced mechanical and thermal properties, corrosion resistance, and multifunctional capabilities. Research and development efforts focused on harnessing the unique properties of nanomaterials to improve aircraft performance, durability, and safety.
- In August 2021, Sustainable materials and recycling initiatives gained traction in the aerospace and defense materials market. Companies focused on developing materials with improved recyclability and reduced environmental impact. Additionally, efforts were made to establish efficient recycling processes for aerospace components, aiming to minimize waste and promote a circular economy within the industry.
- In August 2021, The market witnessed advancements in additive manufacturing or 3D printing of aerospace and defense materials. Companies developed new alloys and metal powders specifically designed for additive manufacturing processes, enabling the production of complex components with reduced lead times and improved design flexibility. This technology showed promise in accelerating the production of aircraft parts and reducing costs.
- In July 2021, Ceramic matrix composites (CMCs) gained significant attention in the aerospace and defense materials market. CMCs offer excellent heat resistance, enabling their use in high-temperature applications, such as jet engines and thermal protection systems. Industry players invested in research and development to further enhance CMC properties and explore their potential in advanced aerospace systems.
- In June 2021, The aerospace industry witnessed increased adoption of carbon fiber composites for aircraft structures. These lightweight materials offer high strength-to-weight ratios, contributing to improved fuel efficiency and reduced emissions. Several aircraft manufacturers incorporated carbon fiber composites into their new aircraft models, aiming to enhance performance and meet sustainability goals.
Global Aerospace and Defense Materials Key Market Trends
- Adoption of Composite Materials: One of the key trends in the market is the adoption of advanced composite materials. These materials offer excellent strength-to-weight ratios, corrosion resistance, and durability, making them suitable for various aerospace and defense applications. The use of composites in aircraft structures reduces weight, leading to fuel efficiency and improved performance. Carbon fiber composites, fiberglass composites, and aramid fiber composites are among the commonly used materials in the aerospace and defense industries.
Global Aerospace and Defense Materials Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global aerospace and defense materials market analysis, one of the major drivers is the increasing demand for lightweight materials that offer high strength and durability. This demand is driven by the need to enhance fuel efficiency, reduce emissions, and improve overall performance in the aerospace and defense sectors. Advanced composite materials, such as carbon fiber reinforced polymers, are gaining traction as they provide excellent strength-to-weight ratios. Moreover, the growing investments in aerospace and defense sectors, particularly in emerging economies, are propelling the market forward. Increasing defense budgets and the need to modernize existing aircraft fleets are driving the demand for advanced materials. Additionally, the expanding commercial aviation industry and rising air travel are creating opportunities for market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 39.01 billion |
| Market size value in 2031 | USD 72.20 billion |
| Growth Rate | 7.08% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Aerospace and Defense Materials Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Aerospace and Defense Materials Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Aerospace and Defense Materials Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aerospace and Defense Materials Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Aerospace and Defense Materials Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Aerospace and Defense Materials Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Aerospace and Defense Materials Market Report Snapshots
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