Aerospace Plates Market is Projected to Reach US$ 3.3 Billion in 2026
Aerospace Plates market is expected to reach US$ 3.3 Billion in 2026, growing at a CAGR of 8.9% during 2021- 2026, reports Stratview Research.
RAIPUR, India, Feb. 9, 2022 /PRNewswire/ -- Stratview Research, a leading market research firm has launched a report on the Aerospace Plates Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
Click here to get the free sample pdf: https://www.stratviewresearch.com/Request-Sample/1880/aerospace-plates-market.html#form
How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Aerospace Plates market is driven by a host of factors, some of which are noted below:
- Rapid recovery of aircraft production.
- Probable market entry of new aircraft.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Aerospace Plates Market Segmentation:
Stratview Research has segmented the market in the following 5 ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- Platform Type (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, Helicopter, UAV, and Spacecraft)
- Material Type (Titanium & Alloys, Aluminum & Alloys, Steel & Alloys, and Others)
- Sales Channel Type (Direct Sales and Distributor Sales)
- Product Type (Hot-Rolled Plates and Cold-Rolled Plates)
- Region (North America, Europe, Asia-Pacific, and Rest of the World)
Aerospace Plates Market Insights
Market Trends by Platform Type
Stratview Research has segmented the market based on the platform type as commercial aircraft, regional aircraft, general aviation, military aircraft, helicopter, UAV, and spacecraft. Despite taking a steep nosedive in 2020, commercial aircraft is projected to remain the largest and fastest-growing market segment during the forecast period. Rapidly recovering the production of aircraft, probable market entry of new aircraft such as C919, and incessant requirements of mill products best suiting the applications at hand, are the key reasons behind the segment's healthy growth in the long run. For instance, Airbus confirmed the production rate of the A320 family will be 45 aircraft per month by the fourth quarter of 2021 and is likely to jump to 64 aircraft per month by the second quarter of 2023.
Market Trends by Material Type
We have segmented the market as titanium & alloys, aluminum & alloys, steel & alloys, and others based on the material type. The Aluminum & alloys segment is likely to grab the highest share in 2020, whereas titanium & alloys are expected to grow at the highest rate during the forecast period. Aluminum & alloys have remained the material of choice for several decades in the aerospace industry. Aluminum is a low-cost, lightweight metal that can be heat-treated to fairly high-strength levels; and it is one of the most easily fabricated high-performance materials. 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: tensile strength better than that of austenitic or ferritic stainless steels, extraordinary stiffness and toughness, and a high melting point.
Which region offers the best opportunity and growth?
In terms of regions, North America is expected to dominate the aerospace plates 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 plate suppliers have their presence in the region to address the emergent needs of OEMs and to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.
Asia-Pacific is likely to heal at the fastest rate in the post-pandemic market developments. The region's highest growth is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; the opening of Boeing and Airbus assembly plants for multiple aircraft programs; increasing procurement and production of military aircraft, owing to rising defense budget; and upcoming indigenous aircraft, C919.
COVID-19 Impact on the Aerospace Plates Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here: https://www.stratviewresearch.com/Request-Sample/1880/aerospace-plates-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
- Allegheny Technologies Incorporated.
- Arconic Corporation
- Carpenter Technology Corporation
- Constellium SE
- Kaiser Aluminum Corporation
- Titanium Metals Corporation (TIMET)
- VSMPO-AVISMA Corporation
What deliverables will you get in this report?
- In-depth analysis of the Aerospace Plates Market
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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