Stratview Research has published a new report titled “Aerospace Metal Matrix Composites (MMCs) Market” which is segmented by Application Type (Airframe, Engine Components, Landing Gears, Avionics, and Others), by Platform Type (Civil Aviation, Military Aviation, and Space), by Matrix Type (Aluminum, Titanium, and Others), by Reinforcement Type (Silicon Carbide, Aluminum Oxide, and Others), by Reinforcement Form Type (Continuous, Discontinuous, and Others), by Process Type (Solid State Processing, Liquid State Processing, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the 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 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 a high strength-to-weight ratio, excellent corrosion resistance, excellent fatigue strength, lightweight, and excellent durability, over its rivals including cast iron.
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis –
By Platform Type
The market is segmented based on the platform type 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.
By Application Type
Based on the application type, the 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.
By Matrix Type
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 a 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 airframes and interior components.
Which Region is expected to remain the largest market?
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 the 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 R&D activities, especially for the aerospace industry.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players acting in the Aerospace Metal Matrix Composites (MMCs) Market:
- Materion Corporation
- AMETEK Inc.
- Powdermet Inc.
- Alvant Ltd.
- Triton Systems Inc.
- DWA Aluminium Composites USA, Inc.
- Gamma Alloys
- The 3M Company
- CPS Technologies Corp.
Key questions answered by the report:
- What is the projected CAGR for revenue from the Aerospace Metal Matrix Composites (MMCs) Market during the forecast period?
- What would the market be valued at by 2024?
- What is a major driving factor for the growth of the market?
- Which region accounted for the largest revenue share in the Aerospace Metal Matrix Composites (MMCs) Market?
- Which are the major market players?
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