Attractive Opportunities in the Aerospace Materials Market
The Aerospace Materials Market is projected to reach USD 25.80 Billion by 2022, at a CAGR of 6.9% from 2017 to 2022. In this study, 2016 has been considered as the base year, and the forecast period is from 2017 to 2022.
The growing demand for aerospace materials in Asia-Pacific, Europe, and North America, coupled with its increasing applications in the new generation aircraft and rising environmental concerns are expected to drive the aerospace materials market.
Request report sample @ http://bit.ly/2M1C0x1
North America dominated the aerospace materials market in 2016 and is expected to continue its dominance during the forecast period. The U.S. is the major consumer of aerospace materials and the demand for aerospace materials is expected to increase during the forecast period in North America. The high demand for aerospace materials is primarily due to the presence of top aircraft manufacturers such as Boeing, Lockheed Martin, and others in the region.
Du Pont (U.S.), Teijin Limited (Japan), ATI Metals (U.S.), Constellium N.V. (Netherlands), AMG N.V. (Netherlands), Hexcel Corporation (U.S.), ThyssenKrupp Aerospace (Germany), Koninklijke Tencate N.V. (Netherlands), SGL Group (Germany), and VSMPO-AVISMA Corporation (Russia) are identified as dynamic players in the aerospace materials market.
Composite materials are the most preferred type of aerospace materials.
Composite materials is the most extensively used type segment of the aerospace materials after aluminium. Composite materials are formed by combining two or more distinct materials to achieve superior properties, of which one is a binding material, known as the matrix and the other is a reinforcement material, generally a fiber. The wide use of composites in aerospace materials offer several advantages over traditional materials, such as low weight, increased manufacturing productivity (processing speeds), lower VOC emissions, and better corrosion resistance, among others. Increasing applications in new generation aircraft and rising environmental concerns offer significant growth opportunities for composites in the aircraft manufacturing industry.
Based on aircraft type, the business & general aviation is the fastest-growing segment in the aerospace materials market.
The business & general aviation segment is projected to lead the aerospace materials market from 2017 to 2022. The BGA segment involves the use of aircraft by high net worth individuals (HNIs) or for chartered flights for business trips. This segment is the second-largest consumer of aerospace materials after commercial and military aviation. The major growth factors for this segment are the increasing number of HNIs in emerging regions and growing demand for business jets in Asia-Pacific and the Middle East. According to Honeywell Aerospace (U.S.) and Bombardier Inc. (Canada), approximately 9,300 business jets worth USD 270 billion will be added to the global aircraft fleet by 2024. Thus, the increasing number of airplane deliveries is expected to drive the growth of aerospace materials market in this segment.
Get 10% Free Customization on this Report @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=266342713
Companies such as Toray Industries, Inc. (Japan), Alcoa Corporation (U.S.), Cytec Solvay Group (Belgium), Du Pont (U.S.), Teijin Limited (Japan), ATI Metals (U.S.), and Constellium N.V. (Netherlands) are the leading players in the aerospace materials market. These companies have adopted various organic and inorganic growth strategies such as expansions, mergers & acquisitions, and new product developments to enhance their market shares.
About Us-
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth emerging opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
MarketsandMarkets's™ flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact Us-
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441