OCT 09 2020: The global Aerospace and Defense Materials market size is expected to reach USD 28.37 billion by 2027, registering a revenue-based CAGR of 4.0% during the forecast period, according to a new report published by Grand View Research, Inc. Increasing investment in modernization along with expansion of combat aircraft fleet in countries, such as India and China is expected to drive the growth.
The market is expected to benefit from the strong demand for aircraft in the foreseeable future. The number of commercial and cargo fleets around the world is expected to double over the forecast period. The huge surge in passenger and freight traffic is also anticipated to contribute significantly to the increase in aircraft production and demand for aerospace & defense materials.
To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/aerospace-and-defense-materials-market/request-sample
The aerospace & defense industry has been a long-term promoting factor for the development and application of advanced materials. Leading manufacturers are increasingly adopting a variety of advance materials such as carbon fiber composites and titanium alloys. These materials play an important role in reducing the overall weight and increasing fuel efficiency of an aircraft.
The market players often enter into long-term supply contracts with aircraft manufacturers. The material manufacturers provide highly customized solutions to the component and aircraft manufacturer. Aircraft manufacturers are often involved in monitoring the materials throughout the value chain from design to component manufacturing to ensure the quality.
Further key findings from the report suggest:
• Composites is expected to register the highest CAGR of 3.8% in terms of revenue, from 2020 to 2027, owing to the lightweight, high strength, and impact resistance characteristics of the product
• Aerostructure is estimated to be the largest application segment. It accounted for a revenue of USD 10.37 billion in 2019. However, the segment is expected witness a decline in volume due to increased substitution of metals with composites
• Commercial aircraft is estimated to witness substantial growth in terms of revenue at a CAGR of 4.1% from 2020 to 2027, owing to increasing demand from developing economies
• North America held the largest revenue share of the aerospace and defense materials market with 1.8% in 2019, owing to the presence of huge aircraft parts manufacturing industry in the region
• Major market players focus on mergers and acquisitions to expand their business and technological capabilities. They prioritize R&D of low cost materials that provide high strength
To Browse Full Research Report @:
https://www.radiantinsights.com/research/aerospace-and-defense-materials-market
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Snapshot
Chapter 3. Industry Outlook
3.1. Market Segmentation
3.2. Business Segment Trends
3.2.1. Aerospace & Defense Market Analysis
3.2.2. Aerospace & Defense Market: Regional Analysis
3.3. Value Chain Analysis
3.4. Raw Material Trend Analysis
3.4.1. Aluminum
3.4.2. Steel
3.5. Product Price Trend Analysis
3.5.1. Aluminum
3.5.2. Steel
3.6. Market Variable Analysis
3.6.1. Driver
3.6.1.1. Rise in passenger & freight traffic
3.6.1.2. Growing demand for lightweight materials
3.6.2. Restraint
3.6.2.1. Reduced defense expenditure
3.7. Business Environment Analysis Tools
3.7.1. PESTLE Analysis
Continued……………..
To See More Reports of This Category by Radiant Insights:
https://latestmarkettrends.news.blog/
About Radiant Insights:
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Email: sales@radiantinsights.com
Phone: (415) 349-0054
Address: 201 Spear St #1100, Suite #3036
City: San Francisco
State: California
Country: United States
https://marketsandtrendsreport.blogspot.com/
Latest Market Trends 