Aerospace Plates Market is Expected to Register a Considerable Growth by 2026

The Aerospace Plates Market report published by Stratview Research offers wide-ranging analysis of key growth strategies, drivers, opportunities, key segments, and competitive landscape, etc. This detailed study is a useful source of information for prominent market players, new entrants, investors, and stakeholders to gain a thorough understanding of the market and determine measures to be taken to gain a competitive advantage.

Some key takeaways from this report –

The report offers key drivers that trigger the growth in the Aerospace Plates Market. The insights mentioned in this report helps market players in formulating strategies to gain market presence or to sustain during the hard times. The research also mentions restraints of the market. Critical data on growth opportunities, current and upcoming trends are mentioned to assist market players in taking further steps by determining the potential in untapped regions.

The research offers segment wise analysis of the Aerospace Plates Market. Extensive analysis of sales, revenue, growth rate, and market share of each for the historic period and the forecast period is offered with the help of tables, graphs, pie charts and more.

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Aerospace Plates Market by Resin Type:

The plates market in the aerospace industry was no different, it suffered a massive blow in 2020, recording a grave decline of -30.3% YoY which when juxtaposed with our pre-COVID estimates is an outright contrast.

Being well versed in handling crises, the aerospace industry is expected to bounce back gradually and steadily, the early signs of which are discernible – the lift of Boeing’s B737 MAX in October 2020, gradual opening up of travel restrictions, and rebounding aircraft. The aerospace plates market is likely to follow suit, taking the path towards recuperation from 2021 onwards with a CAGR of 8.9%, to reach a value of US$ 3.3 Billion by 2026.

Aerospace Plates Market by Material Type:

We have segmented the market as titanium & alloys, aluminum & alloys, steel & alloys, and others based on the material type. The Aluminum & alloys segment is likely to grab the highest share in 2020, whereas titanium & alloys are expected to grow at the highest rate during the forecast period. Aluminum & alloys have remained the material of choice for several decades in the aerospace industry. Aluminum is a low-cost, lightweight metal that can be heat-treated to fairly high-strength levels; and it is one of the most easily fabricated high-performance materials. Titanium offers a remarkable weight advantage for aerospace structures as its density is 40% lesser than that of steel- or nickel-based alloys. The material brings a range of advantages to the table: tensile strength better than that of austenitic or ferritic stainless steels, extraordinary stiffness and toughness, and a high melting point.

Aerospace Plates Market by Regional Insights:

In terms of regions, North America is expected to dominate the aerospace plates market during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, raw material suppliers, and part fabricators. Most of the plate suppliers have their presence in the region to address the emergent needs of OEMs and to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.

Asia-Pacific is likely to heal at the fastest rate in the post-pandemic market developments. The region’s highest growth is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; the opening of Boeing and Airbus assembly plants for multiple aircraft programs; increasing procurement and production of military aircraft, owing to rising defense budget; and upcoming indigenous aircraft, C919.

Key Players:

Some of the key players in the Aerospace Plates market are-

  • Allegheny Technologies Incorporated.
  • Arconic Corporation
  • Carpenter Technology Corporation
  • Constellium SE
  • Kaiser Aluminum Corporation
  • Titanium Metals Corporation (TIMET)
  • VSMPO-AVISMA Corporation

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