Global Aerospace Materials Market Set for Rapid Growth, to Reach Around USD 23.8 Billion by 2022
The aerospace materials market is valued at $13.4 billion in 2014 and expected to grow at a compound annual growth rate (CAGR) of 7.4% reaching $23.8 billion in 2022. The main drivers for the growth of the global aerospace market are change in technology, increased aircraft size, high replacement rate. Materials such as aluminium alloys, titanium alloys and composite materials are used for building aircrafts. Aluminium alloys reckons for nearly 50.0% of the market in terms of volume, yet it...
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