The global Defense Aircraft Materials Market is anticipated to grow at a CAGR of over 7% during the forecast period.
Aerospace and defense (A&D) is one of the industries most affected by the COVID-19 pandemic, particularly the commercial aerospace sector. With significantly reduced domestic and international passenger traffic, the US commercial aerospace sector is preparing for a weak second half of the year. 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
Major Player In the market consist of Toray Industries, Inc. (Japan), Alcoa Corporation (U.S.), Cytec Solvay Group (Belgium), Du Pont (U.S.), Teijin Limited (Japan), ATI Metals (U.S.), and Constellium N.V. (Netherlands).
Despite these headwinds of covid-19, Western countries are investing to upgrade major defense platforms, including ships, submarines, tactical aircraft and nuclear capabilities, after two decades of asymmetric warfare in the Middle East. That recapitalization effort has driven a steady rise in defense spending and a growing demand for newer platforms that incorporate AI and other tools to turn data into a tactical advantage. Milestones are being set at a feverish pace. In the most recent example, Vancouver, B.C.-based Harbour Air in mid-December became the first scheduled commercial airline to flight-test an all-electric airplane, with the Federal Aviation Administration and Transport Canada Civil Aviation on hand to witness the event. Harbour Air, the largest seaplane airline in North America, expects to certify the de Havilland Beaver by the end of 2021.
New technological innovations in coming year, a growing pipeline of projects and Dayton's potential to host the U.S. Space Command indicate a bright outlook for the region's bustling aerospace and defense industries. At the start of 2020, Lockheed Martin Corporation announced that the company successfully reached its annual delivery target of 131 units of F-35 JSF aircraft in 2019. Constellium supplies the corrosion-resistant 7050 and 7140 alloys used in the F-35 airframe. It is also a major supplier of the Airware 2297 and 2098 alloys used in the bulkheads, skins, and other key structural components of the Boeing F-18 and Lockheed Martin F-16 aircraft programs. On a global scale, the demand for combat aircraft greatly outnumbers the demand for non-combat aircraft; hence the segment is envisioned to dominate the market in focus during the forecast period. Advanced material can be used in a wide range o domains and hostile environments where risks and damages can be reduced with the use of protective solutions. The most disruptive effects are expected to drive from the integration of functionalities such as energy harvesting, camouflage, structural and personnel health monitoring, protection in super-intelligent materials for platform and soldiers. Other potential application of advanced materials to be expected in the future includes the potential of self-healing materials, cyber protective material and morphing aerofoils .
Market segmentation on the basis of type, it has been divided Aluminum alloys, Steel Alloys, Titanium Alloys, Super Alloys, Composite materials and others. On the basis of aircraft type it is categorized into military Aircraft, Commercial Aircraft, Helicopters, Business & General Aviation and others. On the basis of application it has been segmented into Aerostructure, Components, Cabin Interiors, Propulsion System, Equipment, System & Support and Satellites. Geographically, the market for defense aircraft material is categorized based on five regions across the globe as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America to continue its dominance in the Market in 2020. The United States, one of the leading defense spenders, globally, is focusing on increasing its defense expenditure every year.
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