Aerospace and Defense Materials Market Size (2024 - 2029)

The aerospace and defense materials market is experiencing challenges due to the COVID-19 pandemic, which has led to a decline in orders for aircraft manufacturing, thereby impacting the market size negatively. The commercial aerospace sector is particularly affected as it relies heavily on discretionary air travel, and the recovery is contingent upon the control of the pandemic and the resumption of travel. Despite these challenges, the defense sector continues to grow due to sustained government funding. Over the medium term, the market size is expected to be driven by increasing aircraft demand in the Asia-Pacific and Middle Eastern regions, while North America is anticipated to maintain its dominance in the market.

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Market Size of Aerospace and Defense Materials Industry

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Aerospace and Defense Materials Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 3.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration High

Major Players

Aerospace and Defense Materials Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Aerospace and Defense Materials Market Analysis

The Global Aerospace and Defense Materials Market is projected to register a CAGR of over 3% during the forecast period (2021-2026).

The aerospace and defense sectors are negatively impacted by COVID-19. The aircraft manufacturing companies faced a decline in orders as the travel bans are imposed in many countries, thus decreasing the growth of the market studied. Controlling the coronavirus pandemic is crucial to reviving commercial aircraft demand. Most transport aircraft requirements are driven by discretionary air travel, and the commercial aerospace supply chain must focus on survival until people feel comfortable traveling and governments allow it. In October 2020, Airbus declared that it had delivered 57 commercial aircraft in September 2020 (14 in April, 24 in May, 36 in June, 49 in July, and 39 in August) versus 71 aircraft over the same period in 2019. From the start of 2020 to October 9, Airbus delivered a total of 341 aircraft (18 A220s, 282 A320 Family, 9 A330s, and 32 A350s), a reduction of around 40% compared to the same period in 2019 (571 aircraft deliveries). Besides, the defense sector continued to grow as the governments continued to fund the defense departments.

  • Over the medium term, the major factor driving the market studied is the increasing demand for aircraft in Asia-Pacific and the Middle Eastern countries.
  • On the flip side, unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
  • North America is expected to dominate the global aerospace and defense materials market over the forecast period.

Aerospace and Defense Materials Industry Segmentation

The aerospace and defense materials market is segmented by material type, aircraft type, and geography. By Material Type, the market is segmented into Aluminum Alloys, Steel Alloys, Titanium Alloys, Super Alloys, Composite Materials, and Other Material Types. By Aircraft Type, the market is segmented into Commercial, Military, Business and General Aviation, and Other Aircraft Types. The report also covers the market size and forecasts for the Aerospace and Defence Materials Market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD Million).

Material Type
Aluminum Alloys
Steel Alloys
Titanium Alloys
Super Alloys
Composite Materials
Other Material Types
Aircraft Type
Commercial
Military
Business and General Aviation
Other Aircraft Types
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Aerospace and Defense Materials Market Size Summary

The global aerospace and defense materials market is poised for growth, driven by increasing demand for aircraft, particularly in the Asia-Pacific and Middle Eastern regions. Despite the initial setbacks caused by the COVID-19 pandemic, which led to a decline in aircraft orders and deliveries, the market is expected to recover as air travel demand rebounds. The aerospace sector is focusing on innovations to reduce weight and enhance fuel efficiency, utilizing materials such as aluminum alloys, steel alloys, titanium alloys, and composite materials. The rising air traffic, especially in emerging economies, coupled with the need for new aircraft to replace aging fleets, is anticipated to bolster the market's expansion over the forecast period.

North America is projected to dominate the aerospace and defense materials market, with the United States playing a pivotal role due to its robust aerospace industry and significant defense spending. The U.S. defense budget continues to grow, driven by global tensions and the need for modern military capabilities, which in turn fuels demand for defense materials. The country's aerospace sector benefits from strong consumer spending and exports to countries like France, China, and Germany. Additionally, the market is characterized by consolidation, with major players such as TORAY INDUSTRIES INC., Solvay, and Alcoa Corporation leading the industry. Strategic acquisitions, like Novelis Inc.'s purchase of Aleris Corporation, highlight the ongoing efforts to strengthen market positions and expand product offerings.

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Aerospace and Defense Materials Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Aircraft in Asia-Pacific and the Middle East

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Unfavorable Conditions Arising Due to the COVID-19 Outbreak

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Material Type

      1. 2.1.1 Aluminum Alloys

      2. 2.1.2 Steel Alloys

      3. 2.1.3 Titanium Alloys

      4. 2.1.4 Super Alloys

      5. 2.1.5 Composite Materials

      6. 2.1.6 Other Material Types

    2. 2.2 Aircraft Type

      1. 2.2.1 Commercial

      2. 2.2.2 Military

      3. 2.2.3 Business and General Aviation

      4. 2.2.4 Other Aircraft Types

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Aerospace and Defense Materials Market Size FAQs

The Aerospace and Defense Materials Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

TORAY INDUSTRIES INC., Solvay, Teijin Carbon Europe GmbH, Alcoa Corporation and ATI are the major companies operating in the Aerospace and Defense Materials Market.

Aerospace and Defense Materials Market Report Snapshots

Aerospace and Defense Materials Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)