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Aerospace Materials Market Analysis

ID: MRFR//6956-HCR | 185 Pages | Author: Chitranshi Jaiswal| May 2024

The market for aerospace materials is a dynamic one, with many factors influencing its development and expansion. For stakeholders to make strategic decisions and overcome the obstacles unique to this business, they must have a thorough understanding of the market dynamics. Here is a brief synopsis in the form of a paragraph using a pointer format:
High Demand for Lightweight Materials: To improve overall performance and fuel efficiency, the aerospace sector places a premium on lightweight materials. The aerospace materials market is driven by the increasing demand for sophisticated composite materials, including titanium alloys and carbon fiber-reinforced polymers.
Technological Developments in Material Science: The aerospace materials market is significantly shaped by ongoing developments in material science and engineering. High-performance materials appropriate for use in aviation components are developed through improvements in strength-to-weight ratios, durability, and thermal resistance.
Aluminum Alloys' Strategic Importance: With their ability to combine strength and weight, aluminum alloys continue to be a major force in the aerospace materials industry. The market dynamics are driven by developments in aluminum alloy compositions, manufacturing techniques, and surface treatments to fulfill the severe requirements of current aircraft design.
A Greater Emphasis on Sustainability Materials and manufacturing techniques are being reevaluated as the aerospace sector moves toward more sustainable practices. The market dynamics of aerospace materials are impacted by the industry's dedication to mitigating its environmental impact by utilizing sustainable materials and implementing recycling programs.
Growing Demand in the Commercial Aviation Sector: The aerospace materials industry is mostly driven by the commercial aviation sector. There is a growing need for materials that combine performance and affordability due to the rise in air travel worldwide. The demand for materials that can meet strict safety regulations and resist the rigors of numerous flights shapes market dynamics.
Strategic Partnerships & Alliances: The dynamics of the market are greatly influenced by cooperation and strategic alliances between research institutes, suppliers of materials, and aerospace manufacturers. By facilitating the flow of information, skills, and resources, these alliances promote innovation in aerospace materials and uphold the competitiveness of the sector.
Strict Regulations: Strict regulatory requirements are in place to guarantee the safety and dependability of the aerospace materials market. Compliance with these standards strongly influences market dynamics, as firms spend in research and development to meet or exceed regulatory requirements.
Effects of International Economic Trends: Global economic trends that impact the aerospace materials market include geopolitical changes and economic downturns. The demand for new aircraft and the level of maintenance, repair, and overhaul activity are the main causes of the market's volatility.
Emerging Technologies and Materials: The aerospace materials landscape is changing as a result of the integration of emerging technologies like additive manufacturing (3D printing). The dynamics of the aerospace materials industry could be affected by the capacity of 3D printing technology to generate intricate and lightweight components, which could completely change manufacturing methods.
Defense Sector as a Driving Force: The defense sector is a significant driver of the aerospace materials market, with specific requirements for materials with superior strength, resistance to extreme conditions, and advanced stealth capabilities. Market dynamics are influenced by defense budget allocations, geopolitical tensions, and the need for advanced materials in military aircraft.

Aerospace Materials Market Overview

The Aerospace Material market is a booming market. The ever-growing aviation industry generates huge demand for manufacturing materials. These materials must have unique properties to suit the needs of the aircraft manufacturing industry so, has a considerable monopoly. The aerospace materials market value was calculated at USD 35 billion in 2020.

The aerospace materials are used for making different body parts of an aircraft such as structural frames, cabin interiors, propulsion systems, called empennage, and other parts. The aerospace industry consists not only of airplanes but also military aircraft, spacecraft, helicopters, drones, etc. Therefore, the demand for different types of aircraft to satisfy the need of different industries is increasing the market value. The global aerospace material market is estimated to grow at a CAGR of 7 % over the current forecast period of (2021-2030).

The air traffic volume has seen a significant increase in recent decades. Various factors such as the rising disposable income of people, time-saving, cheap air travel, etc are increasing the popularity of aircraft. This popularity is generating the market demand for aerospace materials. The global aerospace material market value is estimated to hit the USD 60 billion mark by the end of the current forecast period in 2030.

Covid 19 Analysis

Covid 19 had a severe impact on the global aerospace material market. The demand for materials fell sharply over the period. There was a huge loss to the airline industry owing to travel restrictions for many months. A temporary halt in the movement of all domestic and international flights put the global market at a standstill and the growth graph went negative.

There were large-scale disruptions in the supply chain due to the temporary closure of many production units. This production halt created problems in the demand and supply of aerospace materials. However, the aerospace material market growth has shown swift recovery within a short period of relaxation in restrictions globally.

Market Dynamics


The rapidly growing airline industry is the major demand-generating factor for aerospace material markets. According to the ICAO ( International Civil Aviation Organisation ), air traffic is increasing by 4.5 % annually. Therefore the demand for aircraft carriers is increasing at a very high rate and so is the demand for aerospace materials. Low-cost carriers are expected to reduce airfares in the future and will directly contribute to the aerospace material market growth.

The newer technologies in the aerospace industry will also drive market growth. Large-scale research to find substitutes for metal alloys to overcome their limitations is the growth-promoting factor. The use of modern manufacturing materials will considerably increase the fuel economy and durability of airplanes. Moreover, the use of composites and nanofibers in aerospace material manufacturing will bring a revolution in the aviation industry.


The increasing aviation fuel prices are the major growth hindering factor. Though air travel has become considerably cheaper from the start of the industry, rising fuel prices keep many people out of the reach of air travel. Therefore, it limits the number of aircraft to be manufactured. Moreover, the demerits of particular manufacturing materials also retards the production rate of that material over time.

The aviation industry is one of the worst sufferers of geopolitical tensions, which is also a growth restricting factor. Moreover, the aircraft manufacturing industry is unable to respond to constant improvements in manufacturing technology as the particular change involves a very high cost. Thus, it also acts as a major limiting factor for the aerospace material market. 

Technological Analysis

Aerospace materials are materials used for manufacturing aircraft parts. These materials are mostly alloys consisting of aluminum and other metals but nowadays synthetic polymeric composites are also occupying a significant market share. These materials are used to build different aircraft parts such as structural frames, cabin interiors, propulsion systems, etc.

The ideal qualities of aerospace materials are that they should have high strength, high heat resistance, and must be lightweight. These materials are durable and have a high damage tolerance. Traditionally aluminum alloy and titanium alloy were used as aerospace materials and accounted for about 80 % of the total materials used. Nowadays, the use of composites such as fiber-reinforced material and fiber metal laminates is increasing.  Moreover, the growing use of nanotechnology in aerospace material manufacturing is going to change the face of aerospace material in the future. 

Study Objectives

This report aims to provide a complete overview of the Aerospace Material market. The specific objectives of this market report are given below:

  • To analyze and forecast the Aerospace Material market value and volume.

  • To provide information about the impact of covid 19 on the market growth.

  • To identify the problems and prospects of the aerospace material market.

  • To give details about the technological viability of the product.

  • To provide an overview of the regional market and potentially growing segments.

  • To identify the key players of the industry.

Segment Analysis

Segmentation of the global aerospace material market, by type

  • Aluminum alloys

  • Steel alloys

  • Titanium alloys

  • Superalloys

  • Composite materials and others

Aluminum alloys occupy the major market share in the global aerospace material market. The use of aluminum for manufacturing body parts is about 80% for different commercial airplanes. Favorable properties of aluminum such as lightweight, high strength, corrosion resistance, heat resistance make it the favorite choice.

However, composites, the new aircraft manufacturing materials are increasing their usage share in new generation aircraft and in the global market too. Composite materials are superior to aluminum and other metal alloys as they do not corrode and don't get cracked by metal fatigue.

Segmentation of the global aerospace material market, by aircraft type

  • Commercial aircraft

  • Military aircraft

  • Business & general aviation

  • helicopters

  • others

The commercial type of Aircraft is the dominating market segment. Large-scale use of these aircraft for varying purposes such as for cargo transfer, for passenger travel, generates huge demand. Commercial aircraft account for about 75 % of the total material demand. Rising air passengers and demand for low-cost air traveling is increasing demand for commercial aircraft.    

Regional Analysis

The different regional markets for the global aerospace material market are:

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Rest of Europe

  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia & New Zealand

    • Rest of Asia-Pacific

  • Rest of the world ( RoW )

    • The Middle East


    • South America

The North American region dominates the global aerospace materials market. This dominance is due to the greater prevalence of aircraft manufacturers in this region. Moreover, large air trade and air movement within this region is also a potential growth booster. Furthermore, high government investment in the air defense system also generates huge demand for aerospace material. The North American aviation industry was valued at  USD 59.20 billion in 2020.

Europe is the second-largest regional market for aerospace materials. The presence of aircraft manufacturers in France, Germany, and the UK gives a positive growth response.  Moreover, the high disposable income of people and preference for air travel is the demand generating factors here.

The Asia Pacific is the fastest-growing regional segment. The high customer base for air travel and increasing flight operations is generating huge demand for aircraft. A significant increase in military air operations is also a growth-boosting factor. 

The Luxurious air travel in the Middle East sector is generating the demand for aerospace material there. This region is also expected to occupy a significant market share shortly. 

Competitive Landscape

The major global companies playing a key role in the aerospace material market are :

  • Global Titanium Inc

  • AMETEK Inc

  • ArcelorMittal

  • NSSMC Group

  • Supreme Engineering Ltd

  • Technologies

  • AMG Advanced Metallurgical Group

  • Allegheny

  • Incorporated (ATI)

  • Precision Castparts Corp

  • Special Metals

  • Doncasters Group Ltd

Recent Developments

July 2021 : The Defence Research and Development Organisation/DRDO has developed a high strength and quality metastable beta titanium alloy, which will be manufactured on a large-scale to create a series of aerospace structural forgings. This alloy has been created by the Defence Metallurgical Research Laboratory (DMRL), one of the leading laboratories in India that conducts extensive research activities in the materials science & technology field. The lab’s primary role is to produce alloys, ceramics metals, and different composites for a variety of uses, including aircraft engines as well as aerostructures. DMRL claims that the latest alloy, wherein titanium has been alloyed with iron, aluminium, and vanadium, has an impressive strength-to-weight ratio, and can be a ought-after aerospace material in the years ahead. October 2021 : Duncan Aviation reveals that its Machining and Welding department has been granted the certification within the AWS D1.2/D1.2M Structural Welding Code — Aluminum. This certification has been earned by the company by demonstrating the efficient structural welding procedures and fostering the in-house welding capabilities. The recently developed high-tech advanced aluminum MiG wire-feed welder, a major aerospace material, featuring a digital function display has been purchased to carry out a series of structural welding projects. In March 2020 : Kymera International, A fine metal powder manufacturer, acquired Ametek's reading alloy business. This acquisition will improve the former's alloy business for the aerospace material marketIn February 2019 : Teijin Limited, A Japanese Fiber Company, acquired Renegade Materials Corporation, a provider of heat-safe thermoset prepreg for the avionic business in North America. This acquisition will increase its foothold over the aerospace materials market industry.

Intended Audience

This report will be beneficial for every stakeholder of the aerospace material market such as :

  • Aerospace material manufacturers

  • Research and development institutes

  • Raw Materials suppliers

  • Traders

  • Airline companies

Report Overview

This report provides an in-depth Aerospace Material market analysis in terms of current value and future forecast. It also highlights the problems and prospects of the given market. The recent developments section of the report gives an overview of aerospace materials market trends. 

Moreover, technological analysis of the product will greatly help in decision-making. Furthermore, this report contains a detailed analysis of every segment of the given market for the current forecast period. This report has also highlighted the key players of the aerospace material market. 

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