Global Aerospace Material Market – Analysis By Material Type , By Aircraft Type , By Region , By Country : Opportunities and Forecasts ( 2016-2021 )
Global Aerospace Material Market – Analysis By Material Type , By Aircraft Type , By Region , By Country : Opportunities and Forecasts ( 2016-2021 )
Global Aerospace Material Market is forecasted to grow at a CAGR of 6.87 % during 2016 – 2021 . The strong growth in Global Aerospace Material market is driven by increasing number of commercial aircraft and orders worldwide and increasing military spending by the major countries . Apart from that , the continuous development and enhancing functionalities of the aerospace materials to reduce the weight of the aircrafts and enhancing fuel efficiency are propelling the aerospace material market .
The titanium alloys ( In terms of value ) hold the major percentage share in the total aerospace material market . However , the composites are projected to grow at a significant rate as these are light weight , economical , enhances fuel efficiency leading to reduction in operating of the of the airlines . In the past few years , the use of composites have been extended to the functional components such as wings , fuselage skins , engines and landing gears from traditional light structural or cabin components . The aerospace material market is expected to rise in the forecasted period due to increasing number of commercial aircraft orders and deliveries which consumes the largest share of the aerospace material . Among the regions , Asia Pacific is predicted to advance at the highest rate , mainly driven by robust economic growth , rising per capita income leading to more propensity to travel .
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