The composites segment dominated the market in 2018, accounting for over 75% of the total revenue.

WILMINGTON, DE, UNITED STATES, September 19, 2024 /EINPresswire.com/ -- The global aerospace materials market is experiencing significant growth due to increasing demand for lightweight and fuel-efficient aircraft, rising air passenger traffic, and a surge in the need for new aircraft. As of 2018, the aerospace materials market was valued at $3.95 billion and is projected to reach $6.51 billion by 2026, representing a compound annual growth rate (CAGR) of 6.5% from 2019 to 2026.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/6276

Market Dynamics

Drivers:

- Rising demand for lightweight and fuel-efficient aircraft.
- Increased air passenger traffic, particularly in emerging regions like Asia-Pacific.

Growing need for new aircraft models.

Challenges:

- Limited options for designing complex structures.

Opportunities:

- Increased production of commercial aircraft in emerging markets.
- High demand for aerospace materials in the space sector.

Market Segmentation

- By Type: The market is divided into composites, metals, and plastics. The composites segment dominated the market in 2018, accounting for over 75% of the total revenue, and is expected to maintain its leading position with the fastest CAGR of 6.9% during the forecast period.

- By Type of Aircraft: The market includes commercial, military, rotorcraft, and space aircraft. The commercial segment held the largest market share in 2018 and is projected to continue its leadership. The space segment, however, is anticipated to grow at the highest CAGR of 8.2% from 2019 to 2026.

- By Region: The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe led in revenue share in 2018, contributing to over one-third of the market, and is expected to maintain its dominant position with the fastest CAGR of 7.1% during the forecast period.

Key Players

The market report features comprehensive insights into major industry players, including DuPont, Mitsubishi Chemical Holdings Corporation, Sumitomo Bakelite Co. Ltd, Toray Industries Inc., PPG Industries Inc., Solvay, SABIC, Hexcel Corporation, SGL Carbon, and Röchling.

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