The Aluminum Alloys Aerospace Materials market is projected to register a GACR of 3.7% in terms of value, from 2020 to reach USD 5,546.6 Million by 2028. The market registered a shipment volume of 416.8 Kilo Tons in 2020, which is over 40% of the total aerospace materials market. There is an increasing demand for innovative and high-quality metals and alloys in the aerospace industry. Various applications, including carrying of passengers, astronauts, or fighter pilots, increases the market demand for aerospace products, which must comply with the performance and quality of the highest standards under extreme conditions. The characteristics of aluminum alloys to offer high weight to strength ratios, corrosion resistance, and formability, among others, is expected to drive the market growth in the forecast period. Few advantages of aluminum alloys comprise high performance under cryogenic temperatures, it is less dense than steel but with similar strength and does not rust.
Aluminum is an essential component of modern aircraft. The growing trend towards manufacturing lightweight aircraft would be causative of an increase in the market demand during the forecast period. Aluminum alloys are extensively deployed in aircraft fuselages and other engineering structures and compounds where lightweight and corrosion resistance are necessary.
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Top Players in the Global Aluminum Alloys Aerospace Materials Market:
Huntsman International LLC, Alcoa Corp., Kobe Steel Ltd., DowDuPont Inc., Kaiser Aluminum, Aleris International Inc., AMI Metals Inc., Rusal, Constellium N.V., and Hexcel Corporation.
A rapid increase in global passenger and cargo aircraft fleet, along with an increase in the number of passengers, is likely to propel market demand in the future. The passenger and freight traffic is estimated to increase at a modest rate in the upcoming years, and as a result would fuel the demand for aircraft. Increase in consumer preference for flight transportation in developing regions due to growing living standards, mainly in countries like China and India, the Middle East, and other Asia-Pacific region countries, is anticipated to boost the demand for aluminum alloys for production of aircraft.
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Market segmentation based on Aluminum Alloy Type Cause Outlook:
- 2xxx Series
- 3xxx Series
- 5xxx Series
- 6xxx Series
- 7xxx Series
Alloy Grade Outlook:
- Heat Treatable Alloys
- Non-Heat Treatable Alloys
Aircraft Type Outlook:
- Fixed Wing
- Rotary
- Others
Application Outlook:
- Business General Aviation
- Commercial Aviation
- Military Aviation
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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