Costly Maintenance, Repair, and Overhaul Services Owing to the Regulatory Standards is the major challenge in Aerospace Materials Market
The global Market for Aerospace Materials is projected to reach USD 25.80 billion by 2022, at a CAGR of 6.9% from 2017 to 2022.
Growing demand from the aerospace industry for high-grade aerospace materials
is driving the aerospace materials consumption, globally.
Browse 94 market data tables and 52
figures spread through 151 pages and in-depth TOC on "Aerospace Materials Market by Type
(Aluminium Alloys, Steel Alloys, Titanium Alloys, Super Alloys, and Composite
Materials), Aircraft Type (Commercial Aircraft, Business & General
Aviation, Helicopters), and Region - Global Forecast to 2022".
Growing demand from the aerospace
industry for high-grade aerospace materials is driving the aerospace materials
consumption, globally.
Expansion was the key strategy
adopted by industry players to boost their growth in the global aerospace
materials market. Besides expansions, companies are investing in new product
development and acquisitions. The North American region witnessed the highest
number of strategic initiatives from 2011 to 2016. Expansion was the most
preferred strategy in this region. Companies such as Alcoa Corporation (U.S.),
Cytec Solvay Group (Belgium), Hexcel Corporation (U.S.), and Du Pont (U.S.),
were the most active players in the aerospace materials market in the region.
Major manufacturers such as Toray
Industries, Inc. (Japan), Alcoa Corporation (U.S.), Cytec Solvay Group
(Belgium), Du Pont (U.S.), Teijin limited (Japan), ATI Metals (U.S.) and
Constellium N.V. (Netherlands) are profiled in this report. These companies
have adopted both organic and inorganic growth strategies to grow in the
market.
Toray Industries, Inc. (Japan), Alcoa
Corporation (U.S.), Cytec Solvay Group (Belgium) are identified as the major
players in the aerospace materials market. These companies have a strong
product portfolio as well as a robust business strategy to achieve continued
growth. For instance, Alcoa Corporation (U.S.) and Toray Industries, Inc.
(Japan) offer various types of aerospace materials. In 2011, Solvay S.A.
(Belgium) acquired Cytec (U.S.). This acquisition helped Solvay to become the
second-largest company in the aerospace composite materials market globally.
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Du Pont (U.S.), Teijin Limited
(Japan), ATI Metals (U.S.), Constellium N.V. (Netherlands), AMG N.V. (Netherlands),
Hexcel Corporation (U.S.), ThyssenKrupp Aerospace (Germany), Koninklijke
Tencate N.V. (Netherlands), SGL Group (Germany), and VSMPO-AVISMA Corporation
(Russia) are identified as dynamic players in the aerospace materials market.
These companies also have a strong
foothold in the aerospace materials market with the help of various strategies
such as mergers & acquisitions, investments & expansions, and
agreements & partnerships. DuPont acquired BAE Systems Tensylon
High-Performance Materials, Inc. (U.S.), a prominent manufacturer of carbon
fiber composites. DuPont, in collaboration with these industry players, is
expected to develop new products, thereby penetrating further in the aerospace
materials market.
Constellium N.V. has invested heavily
in the development of its unique technology AIRWARE to revolutionize the
aerospace industry. This new technology has been a huge success and has been
adopted by various major aircraft manufacturers. The company has supply
contracts with Airbus (U.S.) and Bombardier (Canada) which is viewed as a
strategic step for future growth by many
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