Stratview Research announces the launch of a new research report on Aerospace Sheets Market by Platform Type (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, Helicopter, UAV, and Spacecraft), by Material Type (Titanium & Alloys, Aluminum & Alloys, Steel & Alloys, and Others), by Sales Channel Type (Direct Sales and Distributor Sales), by Product Type (Hot-Rolled Sheets and Cold-Rolled Sheets), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace sheets market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our aerospace raw materials market, aerospace tubes market, and aerospace bars market reports from the industry stakeholders, we have tried to further accentuate our research scope to the aerospace sheets market to provide the most crystal-clear picture of the market. The report segments and analyzes 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 formulate growth strategies.
Aerospace Sheets Market: Highlights
High-performance industries like aerospace generate massive demand for an extravagant range of materials. Sheet is one of the many mill products used in the aerospace industry for a wide range of applications such as fuselage and pressure cabin skin. The key differences between sheet and plate lie in their thickness, rigidity, and strength. Plates are thicker, more rigid, and stronger as compared to sheets.
The aerospace industry continually remains at the forefront in terms of huge revenue generation, being one of the key pillars for uplifting the global economy. The past couple of years have proved to be a bumpy road for the industry, starting with the grounding of the best-selling, B737 MAX’s grounding (2019), followed by the COVID-19 pandemic (2020). The aerospace industry was one of the worst-hit, experiencing acute supply chain disruption, sudden production halts, deferring orders, etc. resulting in never seen before losses and rattled industry fundamentals.
The sheets market for the industry was no exception to the pandemic’s wrath, mirrored the industry’s downhill path in 2020 with a slump of -28.6% (YoY) – a stark contrast to our pre-COVID estimates that reflected a healthy recovery from the B737 MAX’s hiccup in 2020 (aligning with the industry’s movement at the time).
The extremely resilient nature of the industry stakeholders is likely to insinuate a healthy long-term recuperation. The lift of Boeing’s B737 MAX in October 2020, gradual opening of travel restrictions, rebounding aircraft deliveries, and Airbus’ announcement of a gradual ramp-up in the production of their best-selling aircraft programs are among the self-evident signs of recovery. This is also expected to imprint a positive impact on the aerospace sheets market, estimating to bounce back at a promising CAGR of 8.0% to reach US$ 2.3 billion in 2026.
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Based on the platform type, commercial aircraft is projected to remain the largest and the fastest-growing segment of the market during the forecast period, despite a massive plunge in the production of commercial aircraft in 2020. Rapidly recovering the production of aircraft, probable market entry of new aircraft such as C919 sooner rather than later, and an incessant requirement of mill products, are the key reasons behind the segment’s healthy growth in the long run.
Based on the material type, the Aluminum & alloys segment captured the lion’s share in 2020, whereas titanium & alloys are expected to grow at the highest rate during 2021-2026. Titanium offers a remarkable weight advantage for aerospace structures as its density is 40% lesser than that of steel- or nickel-based alloys. The material brings a range of advantages to the table including tensile strength better than that of austenitic or ferritic stainless steels, extraordinary stiffness and toughness, and a high melting point.
In terms of regions, North America is expected to hold the throne in the aerospace sheets market during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, raw material suppliers, and part fabricators. Most of the sheet suppliers have their presence in the region to address OEMs' emergent needs and be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.
Asia-Pacific is likely to rebound at the fastest rate during the same period. The region's highest growth is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; 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. China. Japan, Malaysia, and India are likely to remain the major markets in the region.
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The market for aerospace sheets is gradually consolidating as major companies are performing mergers & acquisitions to quickly gain the leading position and to tap growing opportunities in this briskly expanding market. For instance, in 2015, Alcoa Corporation, the world’s leading supplier of aluminum, acquired RTI International Metals, gaining excellent capabilities in the aerospace titanium market. Several players maintain a fair presence at several nodes in the supply chain, attaining an edge over their competitors.
The supply chain of this market comprises several nodes including raw material suppliers, sheet manufacturers, tier players, aircraft and engine OEMs, airlines, aircraft leasing companies, and MRO companies. Following are the key players in the aerospace sheets market.
Development of lightweight sheets for critical applications, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to maintain a stable position in the market.
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 aerospace sheets market and has segmented the market in five 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 Sheets Market, by Platform Type
Aerospace Sheets Market, by Material Type
Aerospace Sheets Market, by Sales Channel Type
Aerospace Sheets Market, by Product Type
Aerospace Sheets Market, by Region