New York, NY -- (SBWire) -- 06/06/2019 --Market Size – USD 12.52 Billion in 2018, Market Growth - CAGR of 4.3%, Market Trends – Rising demand for lightweight and durable materials.

The Composite Materials Aluminum Alloys Aerospace Materials Market is forecast to reach USD 17.86 Billion by 2026, according to a new report by Reports and Data. The aerospace industry has been using composite materials for several decades, initially in non-safety critical applications such as fuselage and more lately as primary structures, and wing structures on modern aircrafts from Airbus, Boeing, and Bombardier. An ever-growing aerospace market presents significant opportunities to the composites sector to promote products and technologies for current and future platforms, with the ability of composite materials becoming more superior and suited to applications across the entire aerospace ecosystem.

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Advancements in composite certification, design, and manufacturing and life engineering services, as well as steep changes in cost and variety of production systems, are providing lucrative opportunities for the market to grow.

The North American region is expected to account for the largest share of 35.3% of the market in 2018. The region is one of the significant contributors to the overall aircraft industry. Higher consumer spending, along with the growing age of commercial aircraft are among the key factors determining product penetration for the market. Conventional innovations for reducing weight, coupled with a high demand for fuel efficiency, will boost the overall product demand. Moreover, expanded defence spending in the U.S. will boost the market growth in North America.

Further key findings from the report suggest

- The shifting inclination toward lightweight, cost-effective alternatives, & strong component demand and processing performance will drive the industry growth.

- By application, the market is segmented as commercial aircraft, military aircraft, business & general aviation aircraft, and others.

- The commercial aircraft segment is leading the overall market. The segment is valued at USD 6.92 Billion in 2018 and is estimated to have a CAGR of 4.3% during the forecast period.

- The business and general aviation aircraft type is anticipated to witness the highest CAGR of 4.6% during the forecast period.

- The large-scale production of these aircraft and an increase in air travel globally is the primary reason for the highest growth.

- The carbon fibre product is anticipated to grow at the highest CAGR of 4.4% during the forecast period.

- Carbon fibres in aerospace composites can be short and fragmented or, lengthy and constant, and they can be oriented directionally or randomly. Usually, short fibres are affordable.

- The products provide exceptional stability at high temperature and more extended durability, which in turn impact the overall industry demand positively.

- Key participants include Toray Industries, Solvay, Hexcel, Royal Ten Cate, Teijin, Renegade Materials, Owens Corning, Materion, Mitsubishi Rayon, SGL Group.

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For the purpose of this report, Reports and Data have segmented into the Composite Materials Aluminum Alloys Aerospace Materials Market on the basis of Product, Type, Application, Aircraft type, and Region:

Product Outlook (Volume, Kilo Tons, and Revenue, USD Billion; 2016-2026)
- Carbon Fiber Composite Materials
- Glass Fiber Composite Materials
- Aramid Fiber Composite Materials
- Others

Type Outlook (Volume, Kilo Tons, and Revenue, USD Billion; 2016-2026)
- Technical Grade
- Industrial Grade

Application Outlook (Volume, Kilo Tons, and Revenue, USD Billion; 2016-2026)
- Commercial aircraft
- Military aircraft
- General aviation
- Others

Aircraft Type Outlook (Volume, Kilo Tons, and Revenue, USD Billion; 2016-2026)
- Fixed Wing
- Rotary Wing
- Others

Regional Outlook (Volume, Kilo Tons, and Revenue, USD Billion; 2016-2026)
- North America
o U.S.
- Europe
o UK
o France
- Asia Pacific
o China
o India
o Japan
- MEA
- Latin America
o Brazil

Read More @ https://www.reportsanddata.com/report-detail/composite-materials-aluminum-alloys-aerospace-materials-market

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