Mar 21, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aerospace Metal Matrix Composites Market.
It was estimated prior to this unanticipated outbreak that the Aerospace Metal Matrix Composites Market is projected to grow at a healthy rate over the next five years to reach US$ 176.1 million in 2024. Increasing production of composites-rich aircraft coupled with a rising demand for lightweight yet durable parts and increasing space exploration activities are the prime drivers for the sustainable demand for MMCs in the aerospace industry. MMCs have an excellent track record in the automotive industry as the material offers numerous advantages, such as high strength-to-weight ratio, excellent corrosion resistance, excellent fatigue strength, lightweight, and excellent durability, over its rivals including cast iron. The material is a suitable claimant addressing many challenges of the industry including lightweight products, thus, attracting the stakeholders of the aerospace industry to invest in this unique material. MMCs are increasingly witnessing a greater penetration in not only airframe parts of the next-generation aircraft, but also in other critical applications, such as landing gears and fan exit guide vanes.
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The insistent need of the aerospace industry to augment the performance of civil, military, and spacecraft is constantly driving the development of high-performance structural materials. Composite materials have earned significant traction in the aerospace industry, owing to its excellent track record of more than five decades. However, the inadequacy of a single or group of materials to fulfill all the stringent requirements of aerospace industry along with keeping a check on both economy and performance has led to an increased focus towards new materials including metal matrix composites. In the last two decades, researchers and manufacturers in the aerospace industry have paid significant attention and interests on MMCs, owing to their exceptional properties and performance.
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Segment Analysis
Based on the platform type, the market is segmented as space, civil, and military aviation. Civil aircraft is likely to remain the growth engine of the market during the forecast period. Increasing production rate of the best-selling aircraft program: B787, wherein landing gears are manufactured using MMCs is likely to drive the market for the civil aviation segment during the forecast period. Increasing penetration of MMCs in avionics and recent advancements including the development of robotic arms by TISICS Ltd. are likely to drive the spacecraft segment during the forecast period.
Based on the application type, airframe is likely to remain the most dominant segment during the forecast period, whereas avionics is likely to remain the fastest-growing segment. Increasing collaboration among market stakeholders, such as Boeing and TISICS Inc. with the help of AMRC to produce titanium composite actuator rods for applications including landing gears, wings, and engines for commercial aircraft assemblies, is likely to increase the penetration of MMCs in the aerospace industry in years to come.
Based on the matrix type, aluminum is projected to remain the most dominant matrix type in the market in the coming five years, whereas titanium is expected to remain the fastest-growing matrix. Titanium MMCs offer numerous advantages, such as high strength-to-weight ratio, lightweight, high tensile and compressive strength, low coefficient of thermal expansion, and high fatigue resistance. Aluminum is the most widely used MMCs in the aerospace industry, owing to its exceptional properties, which led to its applications in fabricating airframe and interior components.
In terms of region, North America is projected to remain the largest as well as the fastest-growing market worldwide during the forecast period. The USA is likely to remain the growth engine of the region’s market as it is manufacturing hub of the aerospace industry with the presence of major raw material suppliers, metal matrix composite suppliers, tier players, OEMs, airlines, space agencies, private space companies, aircraft leasing companies, and MRO players. Europe is projected to remain the second-largest market for aerospace MMCs during the forecast period. The UK and Russia are the two major contributors to the European market, owing to significant investment in the R&D activities, especially for the aerospace industry.
Key Players:
Key players operating in the global Aerospace Metal Matrix Composites market are-
- Materion Corporation
- AMETEK Inc.
- Powdermet Inc.
- Alvant Ltd.
- Triton Systems Inc.
- DWA Aluminium Composites USA, Inc.
- Gamma Alloys
- The 3M Company
- CPS Technologies Corp.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Aerospace Metal Matrix Composites analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- 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
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