Chemical & Materials Trending aerospace materials market | Page 3

Drivers & Restrains
• The growing demand for aerospace materials in Asia-Pacific, Europe, and North America, coupled
with its increasing applications in the new generation aircraft and rising environmental concerns
are expected to drive the aerospace materials market.
• Increased passenger transportation is projected to enhance the aircraft production industry,
which will further drive the demand for aerospace materials.
• Though the aerospace materials market is growing at a significant rate, few factors hinder the
growth of the market globally.
• The global defense expenditure is declining due to defense budget reductions by key defense
spending nations.
• The declaration of the reduction in the defense spending till 2022 by the U.S. government has
impacted the global defense equipment manufacturer’s market; especially the military aircraft
manufactures market, which will further impact the aerospace materials market.
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