The Aerospace Materials Global Market Report 2023 by The Business Research Company, provides aerospace materials market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Aerospace Materials Global Market Report 2023, the global aerospace materials market size will grow from $19.68 billion in 2022 to $20.46 billion in 2023 at a compound annual growth rate (CAGR) of 3.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the aerospace materials is expected to grow to $25.69 billion in 2027 at a CAGR of 5.9%.

The increasing demand for lightweight and fuel-efficient aircraft will propel the growth of the aerospace materials market. The growing requirement for fuel-efficient aircraft to fulfill strict pollution control standards raised the demand for lightweight aircraft. Aerospace materials are lower in weight than traditional metals, yet have great strength, which helps to reduce the overall weight of aircraft and so aids in meeting emission limits and improving fuel efficiency.

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The aerospace materials market is segmented:

1) Aerospace Materials Market By Type: Aluminum Alloys, Steel Alloys, Titanium Alloys, Super Alloys, Composites

2) Aerospace Materials Market By Aircraft Type: Commercial Aircraft, Business and General Aviation, Civil Helicopters, Military

3) Aerospace Materials Market By Application: Aero Structure, Components, Cabin Interiors, Propulsion System, Equipment, System, and Support, Satellites, Construction and Insulation Components

The development of carbon fiber composites for making various aerospace structures and parts is an emerging trend in the aerospace materials market. Carbon fiber is a material composed of carbon atoms arranged in long, thin crystals that can be molded with epoxy into practically any shape, even designs that are impossible to achieve with metals or without welding many sections together and creating weak points. Due to the lightweight, durable, corrosion-resistant, and temperature-resistant properties of carbon fiber, manufacturers of aerospace materials are focused on developing carbon fiber structures for various aerospace applications. For instance, in August 2021, Markforged, a US-based additive manufacturing company specializing in the development and manufacturing of digtal forge, launched Onyx FR-A and Carbon Fiber FR-A based on fiber reinforcement technology. These two materials are lightweight, efficient to reduce fuel consumption and improve engine performance, and used in various parts of aircraft interiors.

The aerospace materials market report table of contents includes:

1. Executive Summary

2. Aerospace Materials Market Characteristics

3. Aerospace Materials Market Trends And Strategies

4.Aerospace Materials Market – Macro Economic Scenario

5. Aerospace Materials Market Size And Growth

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26. Africa Aerospace Materials Market

27. Aerospace Materials Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Aerospace Materials Market

29. Aerospace Materials Market Future Outlook and Potential Analysis

30. Appendix

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