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What is the projected market size of the composite materials aluminum alloys aerospace industry, and what is its expected CAGR?
The composite materials aluminum alloys aerospace market size has grown rapidly in recent years. It will grow from $31.9 billion in 2024 to $35.53 billion in 2025 at a compound annual growth rate (CAGR) of 11.4%. The growth in the historic period can be attributed to increased air traffic, increased travel and tourism, population growth, rise in disposable income, growth of the aviation industry.
The composite materials aluminum alloys aerospace market size is expected to see rapid growth in the next few years. It will grow to $53.28 billion in 2029 at a compound annual growth rate (CAGR) of 10.7%. 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 3D printing and additive manufacturing, electrification of aircraft, technological advancements,integration of digital technologies and supply chain optimization, and strategic collaborations.
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What external factors are influencing the composite materials aluminum alloys aerospace market’s growth momentum?
An increase in consumer preference for flight transportation is expected to propel the growth of composite materials aluminum alloys aerospace market. Air transportation refers to the movement of people and goods via any mode of transportation capable of sustained controlled flight. Due to their high strength capabilities and corrosion-resistance characteristics, aluminum alloys are frequently favored materials for aerospace designs. Also, aluminum is roughly a third of the weight of steel, allowing an aircraft to carry more weight and or become more fuel efficient. For instance, according to the International Air Transport Association (IATA), an airline industry association, total global passenger traffic in March 2022 increased by 76.0% compared to March 2021. Also, in China, domestic air traffic increased by 11.7% in March 2022. Therefore, an increase in consumer preference for flight transportation is driving the demand for composite materials aluminum alloys aerospace market.
What are the major market segments driving the growth of the composite materials aluminum alloys aerospace industry?
The composite materials aluminum alloys aerospace market covered in this report is segmented –
1) By Type: Aluminum Alloys, Titanium Alloys, Steel Alloys, Composites
2) By Product: Carbon Fiber Composite Materials, Glass Fiber Composite Materials, Aramid Fiber Composite Materials, Other Products
3) By Application: Commercial Aircraft, Business And General Aviation, Military Aircraft, Helicopters, Other Applications
Subsegments:
1) By Aluminum Alloys: 2000 Series (Al-Cu Alloys), 6000 Series (Al-Mg-Si Alloys), 7000 Series (Al-Zn Alloys)
2) By Titanium Alloys: Alpha Alloys, Beta Alloys, Alpha-Beta Alloys
3) By Steel Alloys: Stainless Steel Alloys, High-Strength Low-Alloy (HSLA) Steel, Carbon Steel Alloys
4) By Composites: Carbon Fiber Reinforced Composites (CFRP), Glass Fiber Reinforced Composites (GFRP), Aramid Fiber Reinforced Composites
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Which trends are expected to dominate the composite materials aluminum alloys aerospace market landscape in the coming years?
Major companies operating in the composite materials aluminum alloys aerospace market are developing innovative products.NASA Alloy GRX-810 is a revolutionary superalloy specifically designed for additive manufacturing in aerospace applications, known for its exceptional mechanical properties, thermal stability, and corrosion resistance, making it ideal for extreme environments. For instance, in April 2022, The National Aeronautics and Space Administration a US-based government agency, developed a new metal alloy using a 3D printing process that dramatically improves the strength and durability of the components and parts used in aviation and space exploration, resulting in better and longer-lasting performance. NASA Alloy GRX-810, an oxide dispersion strengthened (ODS) alloy, can endure temperatures over 2,000 degrees Fahrenheit, is more malleable, and can survive more than 1,000 times longer than existing state-of-the-art alloys.
Who are the key market players contributing to the growth of the composite materials aluminum alloys aerospace industry?
Major companies operating in the composite materials aluminum alloys aerospace market include Toray Industries Inc., Koninklijke Ten Cate B.V., Teijin Limited, Renegade Materials Corp., Materion Corp., HEXEL Works Inc., Solvay S.A., Mitsubishi Rayon Co. Ltd., SGL Group, Alcoa Corporation, Constellium SE, Kobe Steel Ltd., Novelis Inc., AMG Critical Materials NV, Allegheny Technologies Incorporated, Kaiser Aluminum Corporation, Arconic Inc., Precision Castparts Corp., Thyssenkrupp Aerospace India Pvt Ltd., United Aluminum Corporation, BAE Systems, Bombardier Inc., GE Aviation, Honeywell Aerospace, Pratt & Whitney, Rolls-Royce Holdings plc, The Boeing Company, Airbus SE, Lockheed Martin Corporation, Spirit AeroSystems Inc., Triumph Group Inc., Safran S.A.
Which regions are leading the growth of the composite materials aluminum alloys aerospace market globally?
North America was the largest region in the composite materials aluminum alloys aerospace market in 2024. North America is expected to be the fastest growing region in the forecast period. The regions covered in the composite materials aluminum alloys aerospace market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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• Time market entry or expansion using growth forecasts and CAGR trends.
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• Tailor regional strategies with in-depth geographic data and local market dynamics.
• Benchmark and plan partnerships using competitive landscape insights.
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