Aerospace Mro Raw Materials Market Report
Aerospace MRO Raw Materials Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026 See less
Aerospace MRO Raw Materials Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026
Aerospace MRO Raw Materials Market is Segmented by Platform Type (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, and Helicopter), by Material Type (Titanium & Alloys, Aluminum & Alloys, Steel & Alloys, Composites, and Others), by Application Type (Airframe, Engine, and Components), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Aerospace MRO Raw Materials Market is Segmented by Platform Type (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, and Helicopter), by Material Type (Titanium & Alloys, Aluminum & Alloys, Steel & Alloys, Composites, and Others), by Application Type...
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 the doors, seats, and partitions, in the latest aircraft programs.
The aerospace industry was already encircled with several challenges, such as fading air passenger traffic growth and the ongoing grounding of the B737 Max in 2018-2019. The spread of the pandemic deepened the existing industry challenges, putting a brake on the entire aerospace industry’s acceleration (ending its 16-year boon).
The Aerospace MRO raw materials market was no exception and endured a grave decline of +29% YoY in 2020. The unforeseen circumstances amid the pandemic shook the industry stakeholders to the core. Nevertheless, the resilient aerospace industry is likely to recoup from 2021 onwards, gradually and steadily heading towards a full recovery, a couple of years later. A similar impact is expected to reflect in the aerospace MRO raw materials market which is estimated to heal at a promising CAGR of 8.4% during the forecast period to reach an impressive figure of US$ 1 billion by 2026.
Based on the platform type, Stratview Research has segmented the market as commercial aircraft, regional aircraft, general aviation, military aircraft, and helicopter. Despite suffering a massive blow in 2020, commercial aircraft is projected to remain the largest and the fastest-growing segment of the market during the forecast period. Rapidly recovering demand and production of aircraft, probable market entry of new aircraft, such as C919, sooner rather than later, 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.
Based on the material type, the market is segmented as titanium & alloys, aluminum & alloys, steel & alloys, composites, and others. Titanium & alloys captured a major chunk of the pie in 2020 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.
In terms of applications, engine grabbed the throne in the market. 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. With thousands of aircraft in storage due to the pandemic, a healthy demand bubble is likely to arise from 2021 onwards.
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), Alcoa 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.
The following are the key players in the Aerospace MRO Raw Materials Market:
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 of 2021 to 2026. 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 the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the 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 the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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. The following are the key features of the report:
The aerospace MRO raw materials market is segmented into the following categories.
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
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The aerospace MRO raw materials market is estimated to grow at a CAGR of 8.4% by 2026.
VSMPO-AVISMA Corporation, Allegheny Technologies, Inc., TIMET (Berkshire Hathaway, Inc.), Alcoa Corporation, Kaiser Aluminum, Constellium SE, Hexcel Corporation, Solvay S.A., and Toray Industries, Inc. are the leading players in the aerospace MRO raw materials market.
North America is estimated to remain dominant in the aerospace MRO raw materials market in the foreseen future.
The aerospace MRO raw materials market size is expected to reach US$ 1 billion in the foreseeable future.
Commercial aircraft is expected to remain the largest segment in the aerospace MRO raw materials market in the coming years.
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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