Global aerospace materials market to reach USD 62.8 billion by 2027. Global aerospace materials market is valued approximately at USD 34.8 billion in 2020 and is anticipated to grow with a healthy growth rate of about 8.8% over the forecast period 2021-2027. Aerospace materials refer to the materials, mostly metal alloys, which have either been developed for or may have come to prominence through, their use in the aerospace sector. These uses often needs strength or heat resistance, exceptional performance, even at the cost of considerable expense during their machining or production. Also, these are chosen for their quality of long-term reliability, primarily for their resistance to fatigue. The global aerospace materials market is being driven by increasing demand for more fuel-efficient and lightweight aircraft and emergence of low - cost carriers boosting heavy passenger transportation. Furthermore, growing UAV market will provide new opportunities for the global aerospace materials industry. Also, market players across the globe are strengthening their geographical presence through undertaking various strategic initiatives, which is also expected to have a positive impact on the market growth. For instance, in 2019, SGL Carbon and Solvay entered into a joint development agreement to bring first composite materials to market, which was based on large - tow intermediate modulus carbon fiber. These materials address the requirement to reduce CO2 emissions and costs while improving the fuel efficiency and production process of next - generation commercial aircraft. Also, in 2019, Teijin Limited entered into an agreement with Boeing to supply TENAX TPUD (unidirectional pre-impregnated tape) which helped company in medium - term growth in the aircraft business. Such strategic moves by the market players is expected to increase the penetration of aerospace materials which is likely to boost the market growth. However, higher costs of advanced aerospace materials ay impede market growth over the forecast period of 2021-2027.

The regional analysis of the global aerospace materials market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe accounts for the largest share in terms of market revenue in the global aerospace materials market over the forecast period 2021-2027. Factors such as high demand of aerospace materials from business and commercial aircrafts, presence of majority of key aerospace materials manufacturers, technological developments and advancements, etc. contribute towards the largest market share of the region in the forecast years.
Major market player included in this report are:
Toray Industries, Inc.
Solvay S.A.
Dupont De Nemours, Inc.
Alcoa Corporation
Teijin Limited
Allegheny Technologies Incorporated
Constellium SE
Kobe Steel, Ltd.
AMG Advanced Metallurgical Group NV
Novelis
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Aluminum Alloys
Titanium Alloys
Steel Alloys
Super Alloys
Composites
Others
By Aircraft Type:
Commercial Aircraft
Business & General Aviation
Military Aircraft
Helicopters
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Aerospace Materials Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors