COVID19:AEROSPACE MATERIALS MARKET TO REACH USD 32.4 BILLION BY 2027 | CAGR 6.0% — FORENCIS RESEARCH

  • According to the new market research report “Global Aerospace Materials Market by Type (Aluminium Alloys, Steel Alloys, Titanium Alloys, Super Alloys, and Composite Materials), Aircraft Type (Commercial Aircraft, Business & General Aviation, Helicopters), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) — Global Forecast (2020 to 2027)”, the global Aerospace Material market is estimated to reach USD 32.4 Billion by 2027 at a CAGR of around 6.0% during the review period.
  • Aerospace materials are materials that are deployed for various aerospace purposes, as they offer enhanced properties such as high tensile strength, superior temperature tolerance, enhanced transparency, and hard surface
  • The aerospace manufacturers are shifting their preference toward materials such as advanced plastics, carbon or glass-based fiber composites in the construction of aircraft parts such as airframes, windows, interiors, engine components, propulsion systems, mirrors, and ceilings, thereby replacing conventional metals
  • Due to its incredible state of the art, lightweight, and affordable nature, aluminium was the most commonly used material in the early stage of the aerospace sector
  • Rising funds in defence sector in various countries across the globe is the major driving factor
  • Demand for reducing weight for increasing fuel efficiency is flourishing the market growth
  • Growing numbers of commercial aircraft drive the market growth
  • However, complex requirement due to fewer material options hampers the market growth
  • North America
  • Asia-Pacific
  • Mitsubishi Chemical Holdings Corporation.:
  • Toray Industries, Inc

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