Aerospace Nanotechnology Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Aerospace Nanotechnology Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Aerospace Nanotechnology Global Market Report 2024, The aerospace nanotechnology market size has grown strongly in recent years. It will grow from $4.31 billion in 2023 to $4.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to lightweight materials development, enhanced structural strength, fuel efficiency and emission reduction, miniaturization of components, improved thermal management, innovations in nanosensors.

The aerospace nanotechnology market size is expected to see strong growth in the next few years. It will grow to $6.13 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to nanomaterials for next-gen aircraft, increased use of nanoelectronics, application in space exploration, advanced propulsion systems, smart materials for adaptive structures. Major trends in the forecast period include advanced coatings and surface treatments, improved structural materials, nano-electronics and sensors, fuel efficiency and engine performance, space exploration applications.

The strong growth of the aviation sector is expected to propel the growth of the aerospace nanotechnology market going forward. The aviation sector refers to a private or public company involved in the production of hardware or software for the aviation or aerospace industry, in maintenance, repair, and overhaul, in the provision of parts to the aviation or aerospace sector, in the study and advancement of aviation or aerospace technology systems, and the instruction and training of aviation or aerospace personnel. Aerospace nanotechnology in the aviation sector is useful for lightweight, for enhanced protection of aircraft from harsh materials, and for sensors to monitor fuel, temperature, and engines of aircraft. For instance, in 2022, according to IATA, a Canada-based trade association for the world’s airlines, in 2021 the total commercial airline revenue stood at $ 506 billion which is a 32.4%% increase from 2020, and in 2027 it grew to $727 billion representing a growth of 43.6% from the prior year. Therefore, the strong growth of the aviation sector is driving the aerospace nanotechnology market.

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The aerospace nanotechnology market covered in this report is segmented –

1) By Nanomaterial Type: Nanoparticles, Nanocoatings, Other Nanomaterial Types

2) By Material: Alloys, Ceramics, Composites, Polymers

3) By Applications: Space And Defense, Commercial Aviation

Major companies operating in the aerospace nanotechnology market are focused on developing advanced systems based on technology such as X-ray nanotechnology to revolutionize the airport security experience. X-ray nanotechnology refers to the application of nanoscale materials and techniques in the field of X-ray technology. For instance, in June 2022, Thales Group, a France-based provider of smart technologies, launched HELIXVIEW, a revolutionary Cabin Baggage Explosive Detection System (EDS CB) that utilizes X-ray nanotechnology, 3D imaging, and Artificial Intelligence (AI) for efficient security screening at airports. As a compact and lightweight C3-compliant scanner, HELIXVIEW eliminates the need for passengers to remove items from their luggage, streamlining the security process. The system, aiming for certification by the end of 2023, enhances threat detection by identifying prohibited items, including explosives and weapons, and providing instant threat/no threat instructions to operators.

The aerospace nanotechnology market report table of contents includes: