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Worldwide Aerospace Raw Materials Industry to 2026 - by Platform Type, Material Type, Form Type, Sales Channel and Region
Research and Markets
9 min read

Dublin, July 13, 2021 (GLOBE NEWSWIRE) -- The "Aerospace Raw Materials Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026" report has been added to ResearchAndMarkets.com's offering.

Materials used in the aerospace industry have had a remarkable transition in the industry over the decades concerning properties, applications, and other factors. Raw materials majorly used in the aerospace industry are aluminum & alloys, titanium & alloys, composites, steel & alloys, and other alloys. Titanium and composites are rapidly gaining traction in key applications. Recent industry focus indicates that major players are moving from aluminum to advanced materials, especially carbon composites and titanium, in the latest aircraft programs. It is anticipated that titanium and composites will remain an apple of the eye for the market stakeholders in the industry in years to come.

The market suffered a slight impact of B737MAX grounding, only the North American demand suffered a minor downturn in 2019. As the industry stakeholders were eagerly waiting for the B737 MAX grounding storm to clear up, they were unexpectedly hit by the intensely incalculable pandemic in 2020, bringing in brusque changes in the business. The jarring effects of the pandemic shook even the big guns of the aerospace industry, compelling them to restructure their strategies and fight for survival.

As a result, publisher estimates suggest that the aerospace raw materials market experienced a grave downturn in 2020, more than a 25% plunge in 2020 (YoY). However, the demand is expected to gradually catch up with the pace, logging a healthy growth during the forecast period to reach the value of US$ 17.3 billion in 2026.

Market Experiencing Gradual Consolidation

The aerospace raw materials market is gradually heading towards consolidation as the industry recorded a good number of mergers & acquisitions to tap growing opportunities in this briskly expanding market. Listed below are some examples.

In 2015, Solvay SA acquired Cytec Industries Inc. to enhance its advanced material portfolio.

Similarly, in 2018, Toray, the world's largest supplier of carbon fiber, acquired TenCate Advanced Composites Holding B.V. (TCAC) from Koninklijke Ten Cate B.V.

In 2015, Alcoa Corporation, the world's leading supplier of aluminum, acquired RTI International Metals, gaining excellent capabilities in the aerospace titanium market.

Market Share Analysis

Analysis by Platform Type: Commercial Aircraft to Maintain Dominance in Long Term

We have segmented the market based on the platform type as commercial aircraft, regional aircraft, general aviation, military aircraft, helicopter, and spacecraft. Despite enduring a massive blown in 2020, commercial aircraft is expected to remain the largest as well as the fastest-growing segment of the market during the forecast period. Early signs of healing are apparent - The lift of FAA's B737max grounding order (Nov. 2020) and Airbus' highest delivery figures (Oct. 2020), since before the onset of the pandemic. The healthy recuperation is well backed by strong order backlogs of 11,987 (Airbus: 6,998 and Boeing: 4,989) aircraft as of March 2021.

Analysis by Material Type: Titanium & Aluminum Alloys - the Largest by Value & Volume Respectively

Based on the material type, the market is segmented as titanium & alloys, aluminum & alloys, steel & alloys, composites, and others. In terms of value, titanium & alloys are expected to remain the largest segment of the market during the forecast period. Over the eons, there has been a greater penetration of titanium parts as new aircraft programs built with higher titanium content. In terms of volume, aluminum & alloys hold a significant share as all the legacy aircraft platforms, such as B737 and A320, are built with extensive use of aluminum alloys.

Regional Analysis: North America Leads the Pack with the Largest Share of the USA in the Region

In terms of region, North America is expected to remain the largest market for aerospace raw materials during the forecast period. The USA is the growth engine of the region's market and has one of the largest fleets of commercial and military aircraft in the world. Due to the presence of major companies, the region is the early go-getter in the industry concerning technology and material adoption.

Asia-Pacific is likely to witness the least decline amid the pandemic and is anticipated to register the quickest recovery in the post-pandemic market developments, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, increasing defense budget of key economies, opening of assembly plants of Boeing and Airbus, and upcoming indigenous commercial aircraft (COMAC C919).

Key Players

The supply chain of this market comprises raw material suppliers, intermediate product manufacturers, aerospace component manufacturers, aircraft and engine OEMs, airlines, aircraft leasing companies, and MRO companies.

Key players in the market are:

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