New York, March 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Commercial Aircraft Airframe Materials Global Market Report 2023" - https://www.reportlinker.com/p06433603/?utm_source=GNW
, Kobe Steel Ltd., Alcoa Corporation, AMG Advanced Metallurgical Group NV, and Dupopnt de Nemours Inc.
The global commercial aircraft airframe materials market grew from $5.77 billion in 2022 to $6.24 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. 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 commercial aircraft airframe materials market is expected to grow to $8.42 billion in 2027 at a CAGR of 7.8%.
The commercial aircraft airframe materials market consists of sales of commercial aircraft airframe materials such as nickel alloys, and magnesium alloys.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The commercial aircraft airframe materials are materials used to form the structure of a commercial aircraft.The lightweight airframe components and structural designs offer increased strength at a lower weight and are resilient to the heat associated with flight.
Due to their lightweight, aluminum and magnesium have long been employed as airframe materials.
Middle East was the largest region in the commercial aircraft airframe materials market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the commercial aircraft airframe materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of commercial aircraft airframe materials are aluminum alloys, titanium alloys, composites, and steel alloys.Aluminum alloys are used in commercial aircraft airframe construction to develop high-strength parts for jet engines and airframes where high pressure, temperature, and vibration are heavily taken into account throughout their design and manufacturing.
The different applications include narrow-body aircraft, wide-body aircraft, regional aircraft, and others.
The increasing fleet size of commercial aircraft is expected to contribute to the growth of the commercial aircraft airframe materials market.Commercial aircraft are those aircraft that are used to transport people and cargo between specific airports regularly.
Increasing fleet size requires aircraft airframe materials to form the structure of an aircraft, thereby promoting the growth of commercial aircraft airframe materials.For instance, according to Boeing, a US-based aerospace company’s commercial market report for 2021–2040, the global commercial fleet is expected to exceed 49,000 airplanes by 2040.
Therefore, the increasing fleet size of commercial aircraft is driving the commercial aircraft airframe materials market.
Technological advancement is a key trend gaining popularity in the commercial aircraft airframe materials market.Major companies operating in the commercial aircraft airframe materials sector are focused on developing technologically advanced solutions to lead the market.
For instance, in 2022, FACC, an Austria-based aerospace company, is building a high-tech plant near Zagreb, Croatia to produce lightweight components for commercial aircraft using the latest fiber-reinforced composite technology.
In July 2022, Trelleborg AB, a Sweden-based provider of engineered polymer solutions agreed to acquire MG Silikon GmbH for an undisclosed amount.With the acquisition, Trelleborg is expected to strengthen its offering of sealing solutions for cabin interiors, which is a strategic growth area for the company, and boost airframe seal production capacity.
MG Silikon GmbH is a Germany-based organization within the Saint-Gobain Group with a focus on sealing solutions for industrial and aerospace applications.
The countries covered in the commercial aircraft airframe materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The commercial aircraft airframe materials market research report is one of a series of new reports that provides commercial aircraft airframe materials market statistics, including commercial aircraft airframe materials industry global market size, regional shares, competitors with commercial aircraft airframe materials market share, detailed commercial aircraft airframe materials market segments, market trends, and opportunities, and any further data you may need to thrive in the commercial aircraft airframe materials industry. This commercial aircraft airframe materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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