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  • Aerospace MRO Raw Materials Market Analysis | 2023-2028

    Aerospace MRO Raw Materials Market Analysis | 2023-2028

    Aerospace MRO Raw Materials Market Analysis | 2023-2028
    Report code - SR1378 Published On : Nov,2023 No. of Pages: 200
    Aerospace MRO Raw Materials Market Size, Share, Trend, Forecast, Competitive Analysis, and See more...

    Market Highlights

    The Aerospace MRO Raw Materials Market is estimated to reach a promising CAGR of 5.6% during the forecast period and reach an impressive figure of US$ 1.3 billion by 2028.

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    For decades, aluminum dominated the aerospace industry owing to its advantages, such as being lightweight and low-cost. The tables have turned since the entry of highly efficient composite materials into the market. Composites are now used not only in primary structural parts, such as fuselage sections, wings, rudders, and rotor blades; but also in doors, seats, and partitions in the latest aircraft programs. Aging aircraft necessitate heightened maintenance and repair, with critical components like bar sheets and extrusions, integral to structural elements, driving an increased demand for replacement and refurbishment. 

    The aerospace MRO raw materials market endured a grave decline of more than 30% in 2020. The unforeseen circumstances amid the pandemic shook industry stakeholders to the core. After a challenging 2020 marked by the COVID-19 pandemic, the market recovered in 2021.

    Recent Market Acquisitions: 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.

    Segment 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 MRO raw materials in the years to come.

    Material-Type Analysis

    Titanium & Alloys, Aluminum & Alloys, Steel & Alloys, Composites, and Others

    Titanium & Alloys stand at the forefront as the most preferred material in the market.

    Application-Type Analysis

    Airframe, Engine, and Components

    Engine stands at the forefront as the dominant application 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.

     

    By Platform Type

    The aerospace MRO raw materials market is segmented into commercial aircraft, regional aircraft, general aviation, military aircraft, helicopter, and spacecraft. Commercial aircraft is expected to remain the largest and the fastest-growing platform type in the market during the forecast period. Rapidly recovering demand and production of aircraft, probable market entry of new aircraft, such as C919, and an incessant requirement of mill products best suiting the applications at hand, are the key reasons behind the segment’s healthy growth in the long run.

    By Material Type

    The market is segmented into titanium & alloys, aluminum & alloys, steel & alloys, composites, and others. Titanium & Alloys captured a major share of the market in 2022 and are expected to maintain their unwavering vanguard during the forecast period. High strength-to-weight ratio and excellent corrosion resistance drive their usage in the aerospace industry.

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    By Application Type

    In terms of applications, the engine held the major share of the market in 2022 and is expected to remain dominant during the forecast period. Maintenance for engines and their components is driven by utilization, primarily by accumulated flight hours and cycles. When an aircraft stays in storage for long durations that pass the airframe check thresholds, it must undergo the corresponding maintenance before it can return to service.

    Regional Analysis

    In terms of regions, the aerospace hub, North America is expected to maintain its unquestionable lead during the forecast period. There are several major players, such as Hexcel Corporation, Solvay SA, Toray Advanced Composites (TCAC), Arconic Corporation, and VSMPO Trius US, that are headquartered in the region. Europe and Asia-Pacific are also likely to create sizeable opportunities in the coming five years, the latter is likely to witness the highest growth during the forecast period

    Key Players

    The following are the key players in the aerospace MRO raw materials market-

    • VSMPO-AVISMA Corporation
    • Allegheny Technologies, Inc.
    • Titanium Metals Corporation (TIMET)
    • Arconicc Corporation
    • Kaiser Aluminum Corporation
    • Constellium SE
    • Hexcel Corporation

    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 the market dynamics and will enable strategic decision-making for the 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 MRO Raw Materials 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?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    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 MRO raw materials 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
    • Composites
    • Others

    By Application Type

    • Airframe
    • Engine
    • Components

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and, The Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and The 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 MRO raw materials 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.

    Report Customization Options

    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

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The aerospace MRO raw materials market is estimated to grow at a CAGR of 5.6% by 2028. Aging aircraft necessitates heightened maintenance and repair, with critical components like bar sheets and extrusions, integral to structural elements.

    VSMPO-AVISMA Corporation, Allegheny Technologies, Inc., Titanium Metals Corporation (TIMET), Arconic Corporation, Kaiser Aluminum Corporation, Constellium SE, Hexcel Corporation, Solvay S.A., and Toray Industries, Inc. are the leading players in the aerospace MRO materials market.

    North America is estimated to remain dominant in the aerospace MRO raw materials market in the foreseeable future. There are several major players, such as Hexcel Corporation, Solvay SA, Toray Advanced Composites (TCAC), Arconic Corporation, and VSMPO Trius US, that are headquartered in the region.

    Asia-Pacific is estimated to remain the fastest-growing market for aerospace MRO raw materials 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 MRO raw materials market in the foreseeable future owing to a sustained rebound in aircraft deliveries.

    Titanium & alloys segment is expected to maintain its vanguard in the aerospace MRO raw materials market in the next five years.

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