The global aerospace materials market is projected to reach USD 25.80 Billion by 2022, at a CAGR of 6.9% from 2017 to 2022. Increased passenger transportation is projected to enhance the aircraft production industry, which will further drive the demand for aerospace materials.
Seattle, WA -- (SBWIRE) -- 06/19/2017 -- The report "Aerospace Materials Market by Type (Aluminium Alloys, Steel Alloys, Titanium Alloys, Super Alloys, and Composite Materials), Aircraft Type (Commercial Aircraft, Business & General Aviation, Helicopters), and Region - Global Forecast to 2022", The global aerospace materials market is projected to reach USD 25.80 Billion by 2022, at a CAGR of 6.9% from 2017 to 2022.
Browse 94 market data tables and 52 figures spread through 151 pages and in-depth TOC on "Aerospace Materials Market - Global Forecast to 2022"
Early buyers will receive 10% customization on this report.
This growth is fueled by the high demand for passenger transportation, which is expected to boost the aircraft production industry. This will further drive the demand for aerospace materials required for increasing aircraft production activities. The global demand for aerospace materials in Asia-Pacific, Europe, and North America is growing, due to high demand for aerospace materials from aircraft parts manufacturers.
Composite materials are the most preferred type of aerospace materials.
Composite materials is the most extensively used type segment of the aerospace materials after aluminum. 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.
Request for the Sample PDF of Report @ http://www.marketsandmarkets.com/pdfdownload.asp?id=266342713
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.
Make an Inquiry @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=266342713
Asia-Pacific is projected to be the fastest-growing aerospace materials market during the forecast period.
Asia-Pacific is projected to be the fastest-growing regional aerospace materials market, in terms of value, and is expected to lead the aerospace materials market during the forecast period. Countries in this region, such as China, Japan, and India are witnessing significant increase in the use of aerospace materials. This increase can be attributed to the growing aerospace industry, which is driving the demand for aerospace materials in the region. Japan and India are attracting investors to set up production facilities because of the ease of availability of raw materials and labor at a lower price. The increasing air traffic and number of low-cost carriers in the region are expected to lead to an increase in the demand for new aircraft in the region during the forecast period. The aerospace materials market is served by various companies that are actively adopting various strategies such as new product development, acquisitions, and joint ventures & partnerships to increase their market shares.
Browse Related Reports:
Aerospace Composites Market by Fiber Type (Glass, Carbon, Aramid), Resin Type (Epoxy, Phenolic, Polyester, Polyamide, Thermoplastic), Aircraft Type (Commercial, Business & Ga, Military, Civil), Application and Region - Global Forecast to 2021
Subscribe Reports from Chemicals & Materials Domain http://www.marketsandmarkets.com/Knowledgestore.asp
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 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.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" 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.
701 Pike Street
Suite 2175, Seattle,
WA 98101, United States
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/chemical
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
For more information, please visit http://www.marketsandmarkets.com