Aerospace Bars MarketbyPlatform Type (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, Helicopter, and Spacecraft), Material Type (Titanium & Alloys, Aluminum & Alloys, Steel & Alloys, and Others), Sales Channel Type (Direct Sales and Distributor Sales), Shape Type (Round Bars, Flat Bars, Square Bars, and Others), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
Aerospace Bars Market by Platform Type (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, Helicopter, and Spacecraft), Material Type (Titanium & Alloys, Aluminum & Alloys, Steel & Alloys, and Others), Sales Channel Type ...
Materials in the aerospace industry are used in various milled forms, such as sheet, plate, bar, and strip, for a wide range of applications. Bars are majorly used in applications such as engines, fasteners, exhaust ducts (for helicopters), and landing gear. They come in various shapes, sizes, and diameters, best fitting the application at hand. The selection of material is dependent on several parameters, including temperature resistance, lightweight, durability, strength, etc. Titanium & alloys, aluminum & alloys, and steel & alloys are the three major materials used by bar manufacturers.
Till 2019, the aerospace industry thrived with relentless demand and soaring orders. However, the pandemic in 2020 dealt a severe blow, leading to unprecedented losses. The pandemic’s sharp, unsought strike brought havoc and dismay to markets across the industry. The bars market in the aerospace industry was no different, it suffered a massive blow in 2020, recording a grave decline of 36.1% YoY which when juxtaposed with our pre-COVID estimates, is an outright contrast.
Following a difficult 2020 due to the COVID-19 pandemic, the market recovered in 2022. The commercial aircraft manufacturing sector foresees good growth in 2023. Notably, in September 2023, Boeing delivered 27 commercial jets and Airbus delivered 55, compared to 51 and 53 deliveries, respectively, in the same month the previous year.
Recent Market JVs and Acquisitions:
In May 2023, Arconic Corp. (which is a manufacturer of bars, profiles, and tubes for aerospace, automotive, and industrial product applications from high-strength aluminum and aluminum-lithium alloys) agreed to be acquired by Apollo Global Management Inc. (APO.N.) in a take-private deal valued at about US$ 5.2 billion.
In November 2020, Kaiser Aluminum Corp. took steps to enter the North American aluminum packaging industry by acquiring the rolling mill business in Indiana from Alcoa Corp. subsidiary Alcoa Warrick LLC for US$ 670 million.
Segments' Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
Platform-Type Analysis
Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, Helicopter, and Spacecraft
Commercial aircraft is anticipated to remain the biggest demand generator for bars in the years to come.
Titanium & Alloys stand at the forefront as the most preferred materials in the market.
Sales Channel-Type Analysis
Direct Sales and Distributor Sales
Direct sales are expected to maintain their dominance in the market during the forecast period.
Shape-Type Analysis
Round Bars, Flat Bars, Square Bars, and Others
Round bars stand at the forefront as the dominant shape in the market.
Regional Analysis
North America, Europe, Asia-Pacific, and The Rest of the World
North America is expected to remain the largest market over the next five years, whereas Asia-Pacific is likely to grow at the fastest rate.
Platform Trends
"Commercial aircraft segment accounted for the largest market share."
Based on the platform type, the aerospace bars market is segmented into commercial aircraft, regional aircraft, general aviation, military aircraft, helicopters, and spacecraft. Commercial aircraft are expected to remain the largest and fastest-growing platform type in the market during the forecast period. Increasing demand for lightweight yet durable parts; market entry of new players, such as COMAC and Irkut; and rebounding aircraft deliveries are some of the key factors propelling the demand for bars in the commercial aircraft segment.
Material Trends
"Titanium & Alloyssegment accounted for the largest market share."
Based on the material type, the market is segmented into titanium & alloys, aluminum & alloys, steel & alloys, and others. Titanium & Alloys are expected to remain the most dominant material type in the market during the forecast period. Thedensity of titanium is 40% less than that of steel- or nickel-based alloys, yielding a remarkable weight advantage for aerospace structures. It is a desirable material for high-performance metal bars owing to its tensile strength (better than that of austenitic or ferritic stainless steels), stiffness, and toughness along with their high melting point. Owing to their massive array of advantages, titanium and nickel are gaining traction in the aerospace industry.
Regional Insights
"North America region accounted for the largest market share."
In terms of regions, North America is expected to remain the largest market for aerospace bars during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, raw material suppliers, and part fabricators. Most of the bar suppliers have their presence in the region to address the emerging needs of OEMs and to be partners for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.
Asia-Pacific is likely to recoup at the fastest rate, witnessing the highest growth during the same period. The highest growth of Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; the opening of assembly plants of Boeing and Airbus for multiple aircraft programs; and the increasing procurement of military aircraft, owing to the rising defense budget.
The market for aerospace bars is gradually consolidating as the major companies are performing mergers & acquisitions to quickly gain the leading position and to tap the growing opportunities in this briskly expanding market. For instance, Alcoa and VSMPO-AVISMA formed a Joint Venture in 2013 to meet the growing demand for high-end titanium and aluminum products for aircraft manufacturers worldwide. The following are the key players in the aerospace bars market.
Arconic Corporation
VSMPO-AVISMA Corporation
Allegheny Technologies, Inc.
Titanium Metals Corporation (TIMET)
Constellium SE
Haynes International, Inc.
The development of lightweight bars for critical applications, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.
Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.
What deliverables will you get in this report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Aerospace Bars Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional and country level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
The aerospace bars market is segmented into the following categories:
By Platform Type
Commercial Aircraft
Regional Aircraft
General Aviation
Military Aircraft
Helicopter
Spacecraft
By Material Type
Titanium & Alloys
Aluminum & Alloys
Steel & Alloys
Others
By Sales Channel Type
Direct Sales
Distributor Sales
By Shape Type
Round Bars
Flat Bars
Square Bars
Others
By Region
North America (Country Analysis: The USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Research Methodology
This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s aerospace bars market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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The aerospace bars market is estimated to grow at a CAGR of 5% by 2028. The expected increase in the overall production of aircraft and extensive usage of bars in the aerospace industry in different applications, such as engines, fasteners, exhaust ducts (for helicopters), and landing gear.
Arconic Corporation, VSMPO-AVISMA Corporation, Allegheny Technologies, Inc., Titanium Metals Corporation (TIMET), Constellium SE, and Haynes International, Inc. are the key players in the aerospace bars market.
North America is estimated to remain dominant in the aerospace bars market in the foreseeable future as most of the bar suppliers have their presence in the region to address the emergent needs of OEMs and to be the partners for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.
Asia-Pacific is estimated to remain the fastest-growing market for aerospace bars in the foreseeable future. The highest growth of Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic and the opening of assembly plants of Boeing and Airbus for multiple aircraft programs.
Commercial aircraft is estimated to remain dominant in the aerospace bars market in the foreseeable future owing to a sustained rebound in aircraft deliveries.
