From GlobeNewswire: 2024-11-05 09:00:00

The Aerospace Materials Market was valued at USD 46.24 billion in 2023, expected to reach USD 96.22 billion by 2032, growing at a CAGR of 8.49%. Demand for lightweight materials, innovations in composites, and sustainable aviation practices are driving market growth. Key players include Hexcel Corporation, Alcoa Corporation, and Toray Industries.

Resurgence in air travel post-COVID-19 is boosting the aerospace materials market, with GE Aerospace noting a 75% stock value rise in 2024. Focus on lightweight materials like aluminum and composites, eco-friendly solutions, and sustainable aviation fuels are key drivers. Insights into key trends by type and application reveal composites and propulsion systems as major revenue contributors.

North America dominated the aerospace materials market in 2023, accounting for 35% of total revenue. The U.S. aviation market is strong, with Canada also contributing significantly. In contrast, the Asia-Pacific region is the fastest-growing market, driven by increased air travel and growing aerospace manufacturing capabilities in countries like China and India. Ongoing advancements in composite materials and sustainability initiatives are set to drive future growth in the region.

Recent developments in aerospace materials include MIT’s new nanomaterials for aerospace, Airbus’ breakthrough in bio-based composites, and ATI Inc.’s partnership with the University of Strathclyde to develop advanced metallic alloys for improved jet engine efficiency. The Aerospace Materials Market Report for 2024-2032 provides a detailed analysis of production capacity, feedstock prices, regulatory impacts, environmental metrics, and innovation trends. The report also includes a competitive landscape, market segmentation by type, aircraft type, and application, as well as regional analysis and company profiles.

SNS Insider is a leading market research and consulting agency, offering services such as Go-To-Market Assessment, Total Addressable Market Assessment, and Competitive Benchmarking. Contact Akash Anand, Head of Business Development & Strategy, for more information at [email protected] or +1-415-230-0044 (US).

For more information or to access the complete report description of the Aerospace Materials Market Report 2024-2032, visit https://www.snsinsider.com/reports/aerospace-materials-market-2334. Email [email protected] for customization research needs.



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