Dublin, May 22, 2023 (GLOBE NEWSWIRE) — The “Global Aerospace Metal Matrix Composites Market- Market Size & Forecasting to 2032” report has been added to ResearchAndMarkets.com’s offering.
The global aerospace metal matrix composites market was valued at USD 48.8 million in 2022, and is projected to reach USD 91.2 million by 2032, registering a CAGR of 6.45% from 2023 to 2032.
Rising production of composites-rich aircraft coupled with a rising demand for lightweight yet durable parts and growing space exploration activities are the main drivers for the sustainable demand for MMCs in the aerospace sector.
MMC composite material is an effective applicant addressing many of the industry’s issues including lightweight goods, thereby enticing aerospace industry stakeholders to invest in this unique material.
Metal matrix composites (MMC) are composite materials composed of a metal and a secondary component that may be a separate metal or non-metallic material such as ceramic or organic compound. MMCs are rapidly witnessing greater penetration not only in the next-generation aircraft’s airframe components, but also in other essential applications, such as landing gears and fan exit guide vanes. Aerospace metal matrix composites market is segmented on the basis of product type, platform type, reinforcement type, processing type, and application type.
Based on the product type, the market has been split into Aluminum, Titanium, and other. From that Titanium is expected to generate the fastest growing segment of the matrix type.
Titanium MMCs deliver various advantages, such as high strength-to – weight ratio, lightweight, high tensile and compressive strength, low thermal expansion coefficient and high resistance to fatigue. Also, Aluminum is the most widely used MMCs in the aerospace sector, due to its exceptional properties, which led to its applications in producing air-frame and interior components.
Based on the platform type, the market has been split into space, commercial aircraft, and military aircraft.
Commercial aircraft is expected to remain the growth engine of the market during the forecast year. This growth is attributed due to increasing the best-selling aircraft system production rate: B787, where landing gears are manufactured using MMCs, is likely to boost the commercial aviation sector demand during the forecast period.
Based on the application type, the market has been split into airframe, avionics, landing gear, engine components, and other components. Airframe is expected to remain the most dominant segment during the forecast period, whereas avionics is likely to remain the fastest-growing segment.
By Region, the market has been segmented into North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World. North America is expected to be the largest and fastest growing region in the Aerospace Metal Matrix Composites Market during the forecast period.
This is due to the presence of existing MMC producers and increased use of MMC in the region’s aerospace sector. Difficult production processes and lack of awareness of the MMC technology limit market growth. Europe is expected to remain the second-largest for Aerospace Metal Matrix Composites market during the forecast period. The UK and Russia are the two major contributors to the European market, owing to considerable investment in R&D activities, especially for the aerospace sector.
The competitive scenario highlights the performance of major companies operating in this market. This includes the detailed profiling of major companies and their competitive benchmarking. Product profiling provides key information including products/solutions offered, key developments, company performances, and strategies adopted in recent years.
Major companies profiled in the market include Materion, Ametek, 3M, Ultramet (Powdermet), Alvant Ltd, Triton Systems, DWA Aluminium Composites, Gamma Alloys, CPS Technologies, 3A Composites, and others. These companies have adopted product development, expansion, and merger strategies to consolidate market position amongst the intense competition
|No. of Pages||255|
|Forecast Period||2019 – 2032|
|Estimated Market Value (USD) in 2019||$40.7 Million|
|Forecasted Market Value (USD) by 2032||$91.2 Million|
|Compound Annual Growth Rate||6.4%|
Key Topics Covered:
1. Market Abstract
2. Market Introduction
3. Key Related Data
3.1 Key Industry Trends
3.2 Technology Advancement
3.3 Aerospace Sector Outlook, by Key Countries
3.4 Guidelines & Regulations
3.4.1 Major Regulatory Agencies
3.5 Covid-19 Impact on Global Metal Matrix Composites Market
3.5.1 Impact on Supply Chain
3.5.2 Demand Analysis During the Pandemic
3.5.3 Regional/Country Analysis
4. Impact Factor Analysis
5. Market Development Analysis
5.1 New Product Type Development/Launch (2018-2022)
5.2 Mergers and Acquisitions (2018-2022)
5.3 Partnerships/Agreements/Collaborations (2018-2022)
6. Global Metal Matrix Composites Market, by Product Type (Pre-Covid and Covid Market Estimation and Forecast, 2019-2032), Value (Usd Million), Volume (Tons)
7. Global Metal Matrix Composites Market, by Platform Type (Pre-Covid and Covid Market Estimation and Forecast, 2019-2032), Value (Usd Million), Volume (Tons)
8. Global Metal Matrix Composites Market, by Reinforcement Type (Pre-Covid and Covid Market Estimation and Forecast, 2019-2032), Value (Usd Million), Volume (Tons)
9. Global Metal Matrix Composites Market, by Processing Type (Pre-Covid and Covid Market Estimation and Forecast, 2019-2032), Value (Usd Million), Volume (Tons)
10. Global Metal Matrix Composites Market, by Application (Pre-Covid and Covid Market Estimation and Forecast, 2019-2032), Value (Usd Million), Volume (Tons)
11. Global Metal Matrix Composites Market, Regional Analysis (Pre-Covid and Covid Market Estimation and Forecast, 2019-2032), Value (Usd Million), Volume (Tons)
12. Global Metal Matrix Composites Market, Competitive Intelligence
13. Global Metal Matrix Composites Market, Company Analysis
A selection of companies mentioned in this report includes
- Airbus Group
- Spirit Aerosystems
- Ruag Holding
- Aernnova Aerospace
- Premium Aerotech
- Kawasaki Heavy Industries
- Aernnova Aerospace S.A
- Triumph Group
- Avic Sac Commercial Aircraft Company
- Mitsubishi Heavy Industries
- Hcl Technologies
- Saertex Group
For more information about this report visit https://www.researchandmarkets.com/r/91uv1
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