Aerospace Tube Materials Market Report
Aerospace Tube Materials Market Size, Share, Trend, Forecast, & Competitive Analysis: 2021-2026
The suitable raw materials are the building blocks of any component used in the aerospace industry, and their uninterrupted supply is extremely crucial for the performance-driven industry. The choice of materials for tubes depends on a wide range of factors such as temperature resistance, lightweight property, durability, engine type, the section of the engine where tubes are to be used, etc. Tube materials currently represent <5% of the total aerospace raw materials market.
The aerospace industry supplier landscape after a rather stressful year in 2019, with the grounding of B737 Max, P&W 1100G engine series failure (A320neo), and multiple in-flight incidents in PW1500G and PW1900G on Swiss 220s, had been looking forward to 2020 as a year of healthy growth. However, in 2020, the global pandemic caught the aerospace industry off guard, bringing in brusque changes in the business. The intense wrath forced the industry stakeholders to restructure their strategies and cut production rates of their key aircraft programs. The aerospace tube materials market following a similar path, registered a massive downfall of -25.3% in 2020, pushing the market below its 2015-level, creating a lag of at least half a decade.
However, the long-term outlook of the aerospace tube materials market still seems vigorous and the early signs of recuperation are pronounced. Ungrounding of Boeing’s B737Max in November 2020, gradual easing up of travel restrictions, aircraft deliveries gradually coming back on track, and aircraft OEMs reporting improved revenue figures in Q1, 2021 are all pointing towards the industry’s prompt recovery. The aerospace tube materials market is expected to witness a promising recovery with a CAGR of more than 6% during the forecast period of 2021-2026 to reach an estimated value of US$ 142.3 million in 2026.
Based on the platform type, the aerospace tube materials market is segmented as commercial aircraft, regional aircraft, general aviation, military aircraft, helicopter, and spacecraft. Commercial aircraft is expected to remain the largest and the fastest-growing segment of the market during the forecast period. Increasing demand for lightweight yet durable materials in fabricating different components and parts; market entry of new players, such as COMAC and Irkut, ungrounding of B737 Max, and gradually recovering aircraft deliveries across regions are the key factors propelling the demand for tube materials in the commercial aircraft segment.
Based on the material type, the market is segmented as titanium & alloys, nickel & alloys, steel & alloys, and others. Steel & alloys are expected to remain the most dominant material type during the forecast period. The density of titanium is 40% lesser than that of steel- or nickel-based alloys, indicating a remarkable weight advantage for aerospace structures. It is a desirable material for high-performance metal tubes owing to their tensile strength (better than that of austenitic or ferritic stainless steels), stiffness, and toughness along with high melting point. Titanium & nickel alloys are slowly gaining traction in the market, owing to the set of advantages offered by them.
In terms of regions, North America is expected to remain the largest market for aerospace tube materials during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, tube suppliers, and raw material suppliers. Most of the tube material suppliers have a presence in the region to address the emergent needs of the OEMs as well as to be the partner for their upcoming aircraft programs.
Asia-Pacific is likely to witness the fastest recovery during 2021-2026. The highest growth of the region 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; increasing procurement of military aircraft, owing to rising defense budget; and upcoming indigenous aircraft, C919.
Trend & Forecast Period
Size in 2026
US$ 142.3 million
North America, Europe, Asia-Pacific, Rest of the World
The US, Canada, Mexico, Germany, France, The UK, Russia, China, Japan, India, Brazil, Saudi Arabia and Others
Figures & Tables
Up to 10% customization available free of cost
The aerospace tube materials market is segmented into the following categories.
The supply chain of this market comprises several nodes including raw material suppliers, intermediate product manufacturers, aerospace component manufacturers, aircraft and engine OEMs, airlines, aircraft leasing companies, and MRO companies.
The key players in the aerospace tube materials market are-
The development of lightweight advanced materials for tubes and other 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.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace tube materials market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our aerospace hoses and tube assemblies market report from the industry stakeholders, we have tried to further accentuate our research scope to the aerospace tube materials market in order to provide the most crystal-clear picture of the market. 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:
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The aerospace tube materials market is expected to witness an impressive CAGR of 6.5% by 2026.
AMETEK, Inc.; Plymouth Tube Co.; Sandvik SE; Carpenter Technology Corporation; Special Metals Corporation; VSMPO-AVISMA Corporation; Villares Steel; Kobe Steel Ltd.; Allegheny Technologies, Inc.; and TIMET (Berkshire Hathaway Inc.). are among the key players in the aerospace tube materials market.
North America is expected to remain the largest aerospace tube materials market during the forecast period of 2021-2026.
Steel & alloys are expected to remain dominant material type in the aerospace tube materials market in the coming five years.
The aerospace tube materials market size is expected to reach US$ 142.3 million in the coming years.
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