Stratview Research announces the launch of a new market research report on Aerospace Metal Matrix Composites (MMCs) Market by Application Type (Airframe, Engine Components, Landing Gears, Avionics, and Others), by Platform Type (Civil Aviation, Military Aviation, and Space), by Matrix Type (Aluminum, Titanium, and Others), by Reinforcement Type (Silicon Carbide, Aluminum Oxide, and Others), by Reinforcement Form Type (Continuous, Discontinuous, and Others), by Process Type (Solid State Processing, Liquid State Processing, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.
This market report, from Stratview Research, studies the aerospace metal matrix composites market over the trend period of 2013 to 2024 and forecast period of 2019 to 2024. The research report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Aerospace Metal Matrix Composites (MMCs) Market: Highlights
Composite materials have earned significant traction in the aerospace industry, owing to its excellent track record of more than five decades. However, the inadequacy of a single or group of materials to fulfill all the stringent requirements of aerospace industry along with keeping a check on both economy and performance has led to an increased focus towards new materials including metal matrix composites. In the last two decades, researchers and manufacturers in the aerospace industry have paid significant attention and interests on MMCs, owing to their exceptional properties and performance.
As per an indepth study conducted by Stratview Research, the global aerospace metal matrix composites (MMCs) market is projected to grow at a healthy rate over the next five years to reach US$ 176.1 million in 2024. Increasing production of composites-rich aircraft coupled with a rising demand for lightweight yet durable parts and increasing space exploration activities are the prime drivers for the sustainable demand for MMCs in the aerospace industry. MMCs have an excellent track record in the automotive industry as the material offers numerous advantages, such as high strength-to-weight ratio, excellent corrosion resistance, excellent fatigue strength, lightweight, and excellent durability, over its rivals including cast iron. The material is a suitable claimant addressing many challenges of the industry including lightweight products, thus, attracting the stakeholders of the aerospace industry to invest in this unique material. MMCs are increasingly witnessing a greater penetration in not only airframe parts of the next-generation aircraft, but also in other critical applications, such as landing gears and fan exit guide vanes.
The research’s findings suggest that civil aircraft is likely to remain the growth engine of the market during the forecast period. Increasing production rate of the best-selling aircraft program, B787, wherein landing gears are manufactured using MMCs, is likely to drive the market for the civil aviation segment in the forecast period. Increasing penetration of MMCs in avionics and recent advancements including the development of robotic arms by TISICS Ltd. are likely to drive the spacecraft segment in the same period.
Based on the application type, airframe is likely to remain the most dominant segment during the forecast period, whereas avionics is likely to remain the fastest-growing segment. Increasing collaboration among market stakeholders, such as Boeing and TISICS Inc. with the help of AMRC to produce titanium composite actuator rods for applications including landing gears, wings, and engines for commercial aircraft assemblies, is likely to increase the penetration of MMCs in the aerospace industry in years to come.
Based on the matrix type, aluminum is projected to remain the most dominant matrix type in the market in the coming five years, whereas titanium is expected to remain the fastest-growing matrix. Titanium MMCs offer numerous advantages, such as high strength-to-weight ratio, lightweight, high tensile and compressive strength, low coefficient of thermal expansion, and high fatigue resistance. Aluminum is the most widely used MMCs in the aerospace industry, owing to its exceptional properties, which led to its applications in fabricating airframe and interior components.
In terms of region, North America is projected to remain the largest as well as the fastest-growing market worldwide during the forecast period, driven by the USA. Europe is projected to remain the second-largest market for aerospace MMCs. The UK and Russia are the two major contributors to the European market, owing to significant investment in the R&D activities, especially for the aerospace industry.
The key players in the aerospace MMCs market are Materion Corporation, AMETEK Inc., Powdermet Inc., Alvant Ltd., Triton Systems Inc., DWA Aluminium Composites USA, Inc., Gamma Alloys, The 3M Company, and CPS Technologies Corp.
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 on 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:
This report studies the metal matrix composites market in the global aerospace industry and has segmented the market in seven ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:
Aerospace MMCs Market, By Platform Type
Aerospace MMCs Market, By Application Type
Aerospace MMCs Market, By Matrix Type
Aerospace MMCs Market, By Reinforcement Type
Aerospace MMCs Market, By Reinforcement form Type
Aerospace MMCs Market, By Processing Type
Aerospace MMCs Market, By Region
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