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    Aerospace Tube Materials Market Report

    Aerospace Tube Materials Market Report
    Report code - SRAD294 Published On : Apr,2021 No. of Pages: 224
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    Aerospace Tube Materials Market Size, Share, Trend, Forecast, & Competitive Analy See more...

    Impact of COVID-19 on Aerospace Tube Materials Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Aerospace Tube Materials Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    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.

    Segment Analysis

    Aerospace Tube Materials Market Share by Platform Type

    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.

    Aerospace Tube Materials Market Share by Material Type

    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.

    Regional Insights

    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.

     

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2015-2026

    Size in 2026                                     

    US$ 142.3 million

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Countries Covered

    The US, Canada, Mexico, Germany, France, The UK, Russia, China, Japan, India, Brazil, Saudi Arabia and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

     

    The aerospace tube materials market is segmented into the following categories.

    Aerospace Tube Materials Market Size, Share & Forecast, by Platform Type

    • Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Spacecraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aerospace Tube Materials Market Size, Share & Forecast, by Material Type

    • Titanium & Alloys (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Nickel & Alloys (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Steel & Alloys (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aerospace Tube Materials Market Size, Share & Forecast, by Sales Channel Type

    • Direct Sales (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Distributor Sales (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aerospace Tube Materials Market Size, Share & Forecast, 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)

    Key Players

    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-

    • AMETEK, Inc.
    • Plymouth Tube Co.
    • Sandvik SE
    • Carpenter Technology Corporation
    • Special Metals Corporation
    • VSMPO-AVISMA Corporation
    • Villares Steel
    • Kobe Steel Ltd.
    • Allegheny Technologies, Inc.
    • TIMET (Berkshire Hathaway Inc.).

    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.

    Research Methodology

    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.

    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. 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, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    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 the 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 [email protected]

    Frequently Asked Questions (FAQs)

    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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