RAIPUR, India, Dec. 2, 2021 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Aerospace MRO Raw Materials Market by Platform Type (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft, and Helicopter), by Material Type (Titanium & Alloys, Aluminum & Alloys, Steel & Alloys, Composites, and Others), by Application Type (Airframe, Engine, and Components), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today's aerospace MRO raw materials market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.
Aerospace MRO Raw Materials Market: Highlights
For decades, aluminum dominated the aerospace industry owing to its advantages such as being lightweight and low cost. The tables have turned since the entry of highly efficient composite materials into the market. Composites are now used not only in primary structural parts, such as fuselage sections, wings, rudders, and rotor blades, but also in doors, seats, and partitions, in the latest aircraft programs.
The aerospace industry was already encircled with several challenges, such as fading air passenger traffic growth and the ongoing grounding of the B737 Max in 2018-2019. The spread of the pandemic deepened the existing industry challenges, putting a brake on the entire aerospace industry's acceleration (ending its 16-year boon).
The aerospace MRO raw materials market was no exception and endured a grave decline of +29% YoY in 2020. The unforeseen circumstances amid the pandemic shook the industry stakeholders to the core. Nevertheless, the resilient aerospace industry is likely to recoup from 2021 onwards, steadily heading towards a full recovery in a couple of years. A similar impact is expected to reflect in the aerospace MRO raw materials market which is estimated to heal at a promising CAGR of 8.4% during the forecast period to reach an impressive figure of US$ 1 billion by 2026.
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Based on the platform type, commercial aircraft is projected to remain the largest and the fastest-growing segment of the market during the forecast period. Rapidly recovering demand and production of aircraft, probable market entry of new aircraft, such as C919, and an incessant requirement of mill products best suiting the applications at hand, are the key reasons behind the segment's healthy growth in the long run.
Based on the material type, the market is segmented as titanium & alloys, aluminum & alloys, steel & alloys, composites, and others. Titanium & alloys captured a major chunk of the pie in 2020 and are expected to maintain their unwavering vanguard during the forecast period. High strength-to-weight ratio and excellent corrosion resistance drive their usage in the aerospace industry.
In terms of applications, maintenance for engines and their components is driven by utilization, primarily by accumulated flight hours and cycles. When an aircraft stays in storage for long durations that pass the airframe check thresholds, it must undergo the corresponding maintenance before it can return to service. With thousands of aircraft in storage due to the pandemic, a healthy demand bubble is likely to arise from 2021 onwards.
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In terms of regions, the aerospace hub, North America is expected to maintain its unquestionable lead during the forecast period. There are several major players, such as Hexcel Corporation, Solvay SA, Toray Advanced Composites (TCAC), Alcoa Corporation, and VSMPO Trius US, that are headquartered in the region. Europe and Asia-Pacific are also likely to create sizeable opportunities in the coming five years, the latter is likely to witness the highest growth during the forecast period.
Following are the key players in the aerospace MRO raw materials market:
- VSMPO-AVISMA Corporation
- Allegheny Technologies, Inc.
- TIMET (Berkshire Hathaway, Inc.)
- Alcoa Corporation
- Kaiser Aluminum
- Constellium SE
- Hexcel Corporation
- Solvay S.A.
- Toray Industries, Inc.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
This report studies the aerospace MRO raw materials market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:
Aerospace MRO Raw Materials Market, by Platform Type
- Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerospace MRO Raw Materials Market, by Material Type
- Titanium & Alloys (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Aluminum & Alloys (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Steel & Alloys (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Composites (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerospace MRO Raw Materials Market, by Application Type
- Airframe (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Components (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerospace MRO Raw Materials Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, South Africa, and Others)
Stratview Research has several high value market reports in the aerospace and defense industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/Aerospace-Defense.html
About Stratview Research
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We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
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