New York, NY -- (SBWIRE) -- 03/17/2021 -- The Global Aluminum Alloys Aerospace Materials Market is expected to reach USD 5.19 Billion by 2026, according to a new report by Reports and Data. The market registered a shipment of 416.8 Kilo Tons, in terms of volume, which is over 40% of the total aerospace materials market. There is an increasing demand for innovative and high-quality metals and alloys in the aerospace industry. Various applications, including carrying of passengers, astronauts, or fighter pilots, increase the market demand for aerospace products, which must comply with the performance and quality of the highest standards under extreme conditions. The characteristics of aluminum alloys to offer high weight to strength ratios, corrosion resistance, and formability, among others, is expected to drive the market growth in the forecast period. Few advantages of aluminum alloys include high performance under cryogenic temperatures, less dense than steel but with similar strength, and does not rust.

Top Players Covered in the Report Include:
Huntsman International LLC, Alcoa Corp., Kobe Steel Ltd., DowDuPont Inc., Kaiser Aluminum, Aleris International Inc., AMI Metals Inc., Rusal, Constellium N.V., and Hexcel Corporation among others.

Aluminum is an essential component for modern aircraft. The growing trend towards manufacturing lightweight aircraft would be causative of an increase in the market demand during the forecast period. Aluminum alloys are extensively deployed in aircraft fuselages and other engineering structures and compounds where lightweight and corrosion resistance are necessary.

A rapid increase in global passenger and cargo aircraft fleet, along with an increase in the number of passengers, is likely to propel market demand in the future. The passenger and freight traffic is estimated to increase at a modest rate in the upcoming years, and as a result would fuel the demand for aircraft. Increase in consumer preference for flight transportation in developing regions due to growing living standards, mainly in countries like China and India, the Middle East, and other Asia-Pacific region countries, is anticipated to boost the demand for aluminum alloys for production of aircraft.

Aerospace materials such as steel alloys, super alloys, titanium alloys, and composites may create hindrance in the growth of the market in the forecast period.

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Further key findings from the report suggest
The 2xxx series is held the largest market share in 2018 and is forecasted to maintain its market leadership with a growth rate of 3.4% in the forecast period.

Aluminum alloy AA2024, is the most widely used alloy for aircraft, is a high-grade aluminum alloy and has excellent resistance to fatigue. It is used mostly in sheet forms such as for the wings and fuselage attributed to its high tensile strength of around 470 MPa.

The heat treatable alloys contributed to the largest market share in 2018 and are projected to grow at a rate of 3.6% in the forecast period.

Aluminum alloys belonging to the heat treatable alloy grade are 2xxx, 6xxx, and 7xxx series.

The application of aluminum alloys in military aviation is expected to witness a growth rate of 4.0% in the forecast period.

Asia-Pacific is projected to grow at the highest CAGR of 4.3% during the forecast period.

In March 2018, UC RUSAL, a significant player in the market, announced that new high strength wrought scandium-aluminum alloys have entered the test phase.

The certification process for mass production is expected to complete in 2019, after which the company will commence mass production of the new alloys and their promotion in the automotive and aerospace industries.

For the purpose of this report, Reports and Data have segmented global aluminum alloys aerospace materials on the basis of aluminum alloy type, alloy grade, aircraft type, application, and region:

Aluminum Alloy Type Cause Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
2xxx Series
3xxx Series
5xxx Series
6xxx Series
7xxx Series

Alloy Grade Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Heat Treatable Alloys
Non-Heat Treatable Alloys

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

Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Business & General Aviation
Commercial Aviation
Military Aviation
Others

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

Key Points of the Aluminum Alloys Aerospace Materials report:
Comprehensive analysis of the market including risks and opportunities
Details of business strategies and plans undertaken by key market players
Analysis of current and future trends that will affect the growth of the market in the forecast timeline
In-depth analysis of drivers and constraints for better understanding of the market
Strategic recommendations to the new entrants as well as established players to formulate informed business decisions
Comprehensive overview of the competitive landscape
In-depth analysis of the key regions of the market along with analysis of market share, size, revenue, production and consumption patterns, supply and demand dynamics, among others
Analysis of segments exhibiting promising growth over the forecast period

Table Of Contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique

Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Aluminum Alloys Aerospace Materials Segmentation & Impact Analysis
4.1. Aluminum Alloys Aerospace Materials Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing demand for lightweight and fuel-efficient aircrafts
4.2.2.2. Increase in consumer preference for flight transportation in APAC
4.2.2.3. Technological Advancements
4.2.2.4. Rise in the level of disposable income
4.2.2.5. Stringent Regulations
4.2.3. Market restraints analysis
4.2.3.1. Availability of substitute materials
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis

Chapter 5. Aluminum Alloys Aerospace Materials Market By Aluminum Alloy Type Insights & Trends

Continued…..

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