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Composite Materials Aluminum Alloys Aerospace Market - Forecast(2024 - 2030)
Overview
The Composite Materials Aluminum Alloys
Aerospace market size is forecast to reach USD 53 billion by 2030, after growing
at a CAGR of 11.34% during 2024-2030. Composite materials and aluminum alloys
have long played critical roles in the aerospace industry, each with its own
set of benefits. Aluminum alloys, known for their
high strength-to-weight ratio, have long been used in aircraft manufacture.
They offer structural integrity and longevity, making them an excellent choice
for components such as airframes and wings. However, to improve fuel efficiency
and minimize emissions, the aerospace industry is increasingly turning to
composite materials.
Report Coverage
The report “Composite
Materials Aluminum Alloys Aerospace Market– Forecast (2024-2030)”, by IndustryARC,
covers an in-depth analysis of the following segments of the Composite
Materials Aluminum Alloys Aerospace market.
By Aircraft Type: Rotary Wing, Fixed Wing, Other Aircraft Types
By Type: Steel Alloys,
Titanium Alloys, Aluminum Alloys, Composites
By Application: Helicopters, Business and General Aviation, Commercial Aircraft,
Military Aircraft, Other Applications.
By Geography: North America, Europe, Asia
Pacific, South America, Middle East and Africa
Key Takeaways
Commercial helicopters are employed in a variety of applications,
including tourism, medical and emergency rescue, transportation, law
enforcement, and offshore helicopter services. Furthermore, due to its
applications such as attack, enemy air defense suppression, airlift of soldiers
and freight resupply, firefighting, reconnaissance and observing, surveillance,
scouting, heavy-lift, and other special operations, military helicopters are in
high demand.
During the projected period,
Asia-Pacific is expected to have the largest growth in the helicopter blades
market. The increased use of helicopters for different commercial and military
purposes such as aerial firefighting, photography from above, search and
rescue, crew transport, surveillance, and others is driving the expansion.
According to Airbus, a prominent supplier of rotorcraft in the area, over 2,000
Airbus helicopters operate in the region. In this regard, the regional
helicopter fleet was 4,193 units as of the end of 2022.
Ongoing advancements in aerospace
technology drive the development of more fuel-efficient and environmentally
friendly aircraft. Composite materials, including those incorporating aluminum
alloys, are integral to these technological innovations. For Instance, In
November 2020, to enhance the 3D printing of aerospace composites, researchers
at the Russian National University of Science and Technology (NUST) MISIS
developed a nanocarbon additive for aluminum powder made from used oil.
By Product Type - Segment Analysis
Aramid Fiber Composite Materials dominated
the Composite Materials Aluminum Alloys Aerospace market with a market share of 35% in 2023. Aramid
fiber is also known as "super fiber" or "golden silk" due
to its weighing just 20% of steel, it is over five times as durable and does
not burn, even at 500°C. Aramid fiber is a crucial material used in various
applications such as aerospace materials. Aramid fibers, such as carbon fiber,
have a low weight-to-strength ratio, which adds to the composite materials'
overall lightweight nature. In the aerospace industry, where weight reduction
of aircraft components is critical for fuel efficiency and performance, this is
very beneficial. For instance, in 2020, The Chinese Academy of Sciences and
Yantai Tayho Advanced Materials Co., Ltd. partnered to develop novel,
high-performance aramid fibers for the aerospace sector. The goal of the
partnership was to make aramid fibers stronger and more resilient for use in
high-strength, lightweight aircraft applications.
Aircraft Type - Segment Analysis
Aircraft type dominated the Composite Materials Aluminum Alloys
Aerospace market with a market share of 40% in 2023. The changing nature of
warfare, as well as the need for tactical mobility, has raised the demand for
helicopters. The ongoing helicopter developments can be
viewed as a positive step forward in the development of military helicopters.
A military helicopter is a tactical vehicle that has
improved significantly over time and has shown to be helpful on the
battlefield.
In addition, the necessity
to replace outdated helicopters has fueled demand for newer-generation
helicopters. For example, Sikorsky, a subsidiary of Lockheed Martin
Corporation, signed a five-year contract with the US Army Contracting Command
in August 2021 to maintain and overhaul the main rotor blade of Black Hawk
helicopters for the US Army. The contract was for USD$116.5 million. Increased
orders will drive up demand for helicopter parts and components, such as main
and tail rotor blades.
Material Type - Segment Analysis
Aluminum Alloys account for the largest with a market share of 40%
in the Composite Materials Aluminum Alloys Aerospace market in 2023. Aluminum
is now used in aircraft due to the combination of multiple alloy constituents.
For example, when a high strength-to-weight ratio is required and the alloy
must be tough yet workable, it is coupled with copper or zinc, which is the
most frequent alloy used in aerospace today. Given the tension that these
sections must withstand, these alloys are commonly found in the wingspans and
fuselage. Aluminum alloys are traditional, whereas composite materials are a
relative newcomer. Both have advantages, but aluminum, as the bigger brother,
has a far more established edge. Aluminum alloys are less expensive due to the
established production and pricing process, whereas composite material is
susceptible to damage from ultraviolet rays, although aluminum alloys are not.
Geography - Segment Analysis
Drivers – Composite Materials Aluminum Alloys Aerospace Market
Growing Demand for Lightweight Materials
Since aluminium alloys have
special qualities including low density, high strength, resistance to
corrosion, and excellent thermal conductivity, they are utilized extensively in
many sectors, including the aircraft industry. In aerospace applications, aluminium
alloys are essential because they assist in reducing the total weight of the
aircraft, which enhances operational performance and fuel economy. Aluminium
alloys weigh around one-third less than carbon and stainless steel. The market
for aerospace composites is expected to rise rapidly during the forecast period
2024-2030 as demand for lightweight aircraft rises rapidly in developing
economies. Lightweight, durable, and
chemical and temperature-tolerant are the composites used in aircraft. Since
aircraft weight has directly affected driving dynamics and fuel consumption, the
aerospace industry has concentrated on aircraft weight for decades. Helicopter
blades are manufactured from composite materials, which makes them much
thinner. The market's growth is expected to be driven by the production of
composite materials that reduce the aircraft's detection rate and weight.
Growing Demand from
the Aeronautics and Space Industries
As the
demand for air travel continues to grow globally, aircraft manufacturers
experience increased demand for new airplanes. This, in turn, boosts the demand
for advanced materials, including composite materials and aluminium alloys,
which are crucial for constructing lightweight and fuel-efficient aircraft. For
instance, On October 12, 2023, Novelis, a global leader in aluminum rolling and
recycling and a top supplier of sustainable aluminum solutions, announced that
it had extended its agreement with Airbus. This agreement strengthens Novelis's long-standing relationship with
Airbus and highlights the company's leadership position in supplying
cutting-edge aluminum products and services to the commercial aircraft sector.
On October 29, 2023, one of the world's
strongest carbon fibers, TORAYCATM T1200, was developed by Toray Industries,
Inc. and measures 1,160 kilopounds per square inch (Ksi). By making
carbon-fiber-reinforced plastic products lighter, this innovative product will
help to minimize environmental impact. Additionally, for strength-driven
applications, this fiber brings a new performance horizon. Aerostructures,
defense, alternative energy, and consumer goods are just a few of its potential
applications.
Challenges – Composite Materials Aluminium Alloys Aerospace Market
High Cost of Carbon Fiber Composite Materials
The cost constraints
associated with composite materials and aluminum alloys in the aerospace market
pose significant challenges to their widespread adoption. While these materials
offer advanced properties such as lightweight characteristics, strength, and
fuel efficiency, their production and implementation often come with higher
costs compared to traditional materials. The initial investment in
manufacturing facilities capable of handling composite materials, especially those
integrated with aluminum alloys, can be substantial. The specialized equipment
and expertise required for manufacturing further contribute to elevated
production expenses. As a result, the overall cost of producing aircraft
components using composite materials tends to be higher than that of
conventional materials like aluminum.
For the manufacturing
of carbon fiber, the PAN raw silk costs between $3 and $6 per kilogram.
Nevertheless, aviation-grade carbon fiber can reach $113 per kilogram after
pre-oxidation, low-temperature carbonization, high-temperature carbonization,
surface treatment, and sizing. On the one hand, the energy-intensive process of
converting PAN raw yarns into carbon fibers invariably involves
high-temperature heat treatment, which is the primary cause of the substantial
rise in carbon fiber costs.
Market Landscape
Technology launches, acquisitions, and R&D activities are key
strategies adopted by players in the Composite Materials Aluminium Alloys
Aerospace market. In 2023, the Composite Materials Aluminium Alloys Aerospace
market share has been consolidated by the major players accounting for 64.66%
of the share. Major players in the Composite Materials Aluminium Alloys
Aerospace market are Alcoa Corporation, Novelis Inc., Toray Industries Inc.,
Mitsubishi Chemical Group, and Teijin Limited among others.
Developments:
Ø In June 2023, In Lafayette, Indiana, Alcoa formally opened one of
the biggest aluminum-lithium factories in the world. There, it will manufacture
cutting-edge, third-generation aluminum-lithium alloys for the aerospace
sector. These ingots are almost 50% bigger than those produced by their closest
rival and are substantial enough to be used for any single-piece component
found in modern aircraft.
Ø In January 2023, with a focus on the TBM and Kodiak aircraft,
Constellium signed a multi-year deal with Daher to supply a variety of
flat-rolled aluminum components. Constellium now serves Daher as a critical
supplier of aluminum and broadens its customer base to include business and
regional jets.
Ø In June 2022, Sikorsky has granted Hexcel Corporation a long-term
contract to supply cutting-edge composite structures for the CH-53K King
Stallion heavy lift helicopter. The aircraft's Hexcel composite content has
been greatly expanded by this grant.