October 22, 2019
According to the latest study titled ‘Global Aerospace Raw Materials Market Research Report 2019’ available with Market Study Report LLC, the global aerospace raw materials market is estimated to grow substantially by the year 2025.
The designing of aircrafts is based on specific requirements and parameters which depends on the raw materials used in its construction and structural system. Features such as safety, comfort, reliability, and efficiency are considered during aircraft designing. The raw materials used in the construction of aircrafts have properties such as strength, corrosion resistance, elasticity, and specific weight.
Increasing air traffic and easy availability of low-cost carriers will boost the demand for new aircrafts, thereby propelling the growth of aerospace raw materials (ARM) market. The study encompasses details about production and consumption patterns, capacity ratio, growth rates, revenue shares, and price trends for each segment and manufacturer. It also provides a comprehensive synopsis of opportunities, driving force, trends, challenges, and other influential factors related to market growth.
As per the study, production of raw materials involves highly skilled labor, which is challenging to employ at low-cost wages, hence this will hinder the market growth. However, introduction of open sky policies and advancements in aircraft technology will foster the growth of ARM market.
In term of type, aerospace raw materials market is segmented as aluminum alloys, composite materials, steel alloys, super alloys, and titanium alloys. While, based on application spectrum, the market is categorized as helicopters, commercial aircraft, business & general aviation, and other, wherein business & general aviation segment is presumed to expand momentously over the forecast period, cites the report.
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Considering the geographical landscape, the global aerospace raw materials industry is fragmented into four main regions which are China, North America, Japan, and Europe.
The key contenders of ARM market outlined in the report comprise of Cytec Solvay, Du Pont, Alcoa, Toray, ATI, Constellium, AMG, Aleris, and Teijin.
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