Aerospace Raw Materials Market share research by applications and regions for 2017-2024

The Aerospace Raw Materials Market trends are analyzed from recent past with an eye on coming years in this report that also offers projections for Aerospace Raw Materials industry targeted at helping in business decisions.

Aircraft designing considers multiple factors such as comfort, safety, efficiency, and reliability depending on the type of aircraft that varies from fighter jets to commercial planes. Aircraft designing needs to meet specific requirements that are influenced by the elements used in its construction and structural complexity. Wide range of substances used in the aircraft construction have the properties such as elasticity, strength, corrosion resistance, and specific weight.

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Increasing greenhouse gases (GHG) emission regulations and fuel prices will spur the demand for aerospace raw material industry by 2024. Federal Aviation Administration (FAA), European Aviation Safety Agency (EASA), United States Department of Defense (DoD), and similar type of agencies in other countries will have direct impact on the industry size. In next decade, new and more demanding legal rules may be adopted by the industry players.

New alloys are continuously developed and tested to improve multiple aspects such as fuel consumption, aerodynamic efficiency, and noise generation. New concepts associated with innovative alloys and wing shapes are in the development process focusing on the reduction of noise and drag levels to increase fuel efficiency. It is being estimated that even 1% reduction in drag for larger aircrafts can save almost 400,000 liters of fuel resulting in reduction of emissions up to 5000kg.

R&D activities will provide immense opportunity for the industry growth in the forecast time frame. The advancements may lead to less maintenance, fuel savings, overall performance optimization, improved quality, and use of renewable substances will support in minimizing the carbon footprint in the environment and adhere to environmental regulations.

Asia Pacific is expected to be the fastest growing region in the aviation industry. This growth is attributed to the developing countries like India and Japan that are attracting investors to build production facilities due to easy availability of labor and raw materials at low costs. China is estimated to be the largest civil aircraft sales by 2024. Boeing estimated that China will have to add over 6,000 planes to its commercial fleet to meet traffic demand and simultaneously China’s fleet is escalating in business jets, training aircraft, helicopters, and general planes. Presently China imports many aircraft parts presenting immense opportunity for players such as Gulfstream, General Electric, Boeing, Airbus, and Pratt & Whitney.

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Aerospace raw material market players are Du Pont, Cytec Solvay Group, Toray Industries, Alcoa Corporation, Constellium N.V, ATI Metals, Teijin Limited, AMG N.V, and Aleris. The strategy followed by these companies are building laboratories and research centers in the nearby facility. The players focus on gaining their industry share by development of modern products and technologies.

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