Aerospace Nickel Alloys Market Growth Analysis | 2025-2031

Market Insights

The aerospace nickel alloys market was estimated at USD 5.8 billion in 2024 and is likely to grow at a CAGR of 4.6% during 2025-2031 to reach USD 8.3 billion in 2031.

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Market Dynamics

Introduction

Nickel alloys are non-ferrous metals with high strength and toughness, excellent corrosion resistance, and superior elevated temperature properties. Nickel Copper, nickel-chromium-iron, nickel-chromium-molybdenum, and nickel-molybdenum form most of the nickel alloys market. Globally, manufacturers sell nickel alloys as plates, strips, semis, bars, seamless, and wires. They offer high strength, corrosion resistance, oxidation resistance, thermal stability, creep resistance, and excellent durability, making them ideal for demanding applications.

Typical nickel alloys for aerospace applications are Inconel, Hastelloy, and Monel. Inconel 718 has gained special attention because of its superior creep resistance and weldability in high-temperature structures and is used in engine parts and airframe applications.

Engine remains the most prominent application area for nickel alloy products. Key engine applications include turbine discs, shafts, casings, blades, spacers, shrouds, and rings. Key airframe applications include landing gear and fasteners. The selection of alloys and material types depends on specific requirements like temperature, stress, and corrosion resistance.

Market Drivers:

• An expected rise in the production rate of key programs (A220, A320neo family, A350XWB, B737Max, and B787), the entry of new programs (C919, B777x, etc.).
• The growing aircraft fleet size.
• Increasing demand for high-temperature-resistant superalloys in jet engines, turbine blades, and structural components.
• Development of high-thrust turbofan engines.
• The benefits of nickel alloys.

Recent Market Collaborations, JVs, and Acquisitions: Healthy growth and rapid change in the market dynamics in the wake of geopolitical changes are driving several activities related to mergers and acquisitions. Some of these are the following.

• Recently, in November 2024, Acerinox, S.A. acquired Haynes International Corporation for an approximate value of US$ 798.7 Million. The acquisition strengthens Acerinox. Inc.’s position in high-performance alloys.
• In June 2024, Tri Star Metals and Aubert & Duval signed a distribution joint venture agreement for a defense industry product line.
• In April 2023, Airbus, Safran, and Tikehau Capital (holding company) acquired Aubert & Duval from Eramet. The acquisition makes Aubert & Duval one of Europe’s biggest suppliers in aerospace & defense and energy industries.
• In July 2021, Acerinox, S.A. acquired VDM Metals Group for approximately US$ 629.1 Million. The acquisition enhanced Acerinox, Inc.’s presence in special nickel alloys and high-performance stainless steel.
• In April 2019, Allegheny Technologies Incorporated signed a long-term purchase agreement with Rolls-Royce, which includes providing disk-quality nickel alloys for their new-generation aircraft engines.

Segments Analysis

By Aircraft Type

“Commercial aircraft are likely to be the dominant aircraft type of the market during the forecast period.”

The aerospace nickel alloys market is segmented into commercial aircraft, regional aircraft, helicopters, military aircraft, general aviation, and other aircraft types. An expected increase in production rates of the best-selling aircraft programs, introduction of variants of existing best-selling aircraft programs, such as B777X, huge order backlogs of both the significant OEMs (Boeing: 6,197 and Airbus: 8,749), 14,976 as of September 2024, technological advancements, and fleet modernization and expansion are key factors behind the dominance of the commercial aircraft segment.

By Process Type

“VIM is expected to remain the dominant process type of the market during the forecasted period.”

The market is segmented by process type into VIM (vacuum induction melting) and other process types. The vacuum induction melting (VIM) process leads the market driven by its key features, such as precise control over the melting environment, high purity, uniform microstructures, reduced oxidation, and flexibility, i.e., suitable for producing small batches of superalloys. VIM prevents air contamination, resulting in high-purity superalloys. This process allows for precise control over the chemical composition of the alloys.

By Part Type

“Turbine discs are expected to remain the most dominant part type of the market over the forecasted years.”

The market is segmented by part type into turbine discs, shafts, casing, blades, landing gear, fasteners, and other part types. Turbine discs, casing, and blades are expected to remain the most attractive segments in the aero-engine applications. In contrast, landing gear is the most lucrative non-engine application for nickel alloy products. The development of high-thrust engines requires materials that can withstand extreme temperatures and stress. Nickel alloys play a vital role in producing crucial parts such as blades, casings, turbine discs, and shafts of high-thrust engines.

By Application Type

“Non-rotating applications dominate the market during the forecast period.”

The market is segmented into rotating and non-rotating applications based on application type. Major non-rotating applications are casings, exhaust systems, and landing gear. Major rotating applications are turbine discs, shafts, and blades. Nickel alloys’ high-temperature strength, corrosion resistance, and overall durability make them indispensable for a wide range of non-rotating applications.

Regional Insights

“North America is expected to be the dominant region, whereas Asia-Pacific is likely to experience the fastest growth in the market during the forecast period.”

North America dominates the aerospace nickel alloys market due to its strong presence of major aeroengine OEMs, such as GE Aerospace, Pratt & Whitney, and Honeywell International Inc., which drives significant demand. Additionally, the region is home to leading players, such as ATI Inc., Haynes International, Inc., Carpenter Technology Corporation, and Precision Castparts Corp. (Special Metals Corporation), further solidifying its market position.

The Asia-Pacific region is expected to witness the fastest growth in the aerospace nickel alloys market, driven by key programs such as the Safran-DRDO joint venture (JV) engine and GTRE’s custom-designed engines for the AMCA. Additional growth factors include the rising demand for commercial aircraft to accommodate increasing passenger traffic, the establishment of Boeing and Airbus assembly plants in India and China, and a growing preference for air travel and tourism.

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Key Players

The market is moderately concentrated, with a moderate number of players. Most of the major players compete in some of the governing factors, including price, product offerings, regional presence, etc. The following are the key players in the aerospace nickel alloys market.

Here is the list of the Top Players (Based on Dominance)

• ATI, Inc.
• Precision Castparts Corp. (Special Metals Corporation)
• Carpenter Technology Corporation
• Aperam S.A.
• Haynes International, Inc.
• Proterial, Ltd. (Earlier Hitachi Metals, Ltd.)
• Aubert & Duval
• VDM Metals Group

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace nickel alloys market realities and future market possibilities for the forecast period of 2025 to 2031. After a continuous interest in our aerospace nickel alloys market report from the industry stakeholders, we have tried to further accentuate our research scope to the aerospace nickel alloys market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner 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 1000 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.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so 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. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The aerospace nickel alloys market is segmented into the following categories.

By Aircraft Type

• Commercial Aircraft
• Regional Aircraft
• Helicopter
• Military Aircraft
• General Aviation
• Other Aircraft Types

By Process Type

• VIM
• Other Process Types

By Part Type

• Turbine Discs
• Shaft
• Casing
• Blades
• Landing Gear
• Fasteners
• Other Part Types

By Application Type

• Rotating Applications
• Non-Rotating applications

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil and Others)

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: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across industries. 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