Defense aircraft material are lightweight materials known to deliver high performance. They are selected depending upon various properties such as strength, thermal shock resistance or expansion, resistance, flammability, stealth, and fuel efficiency. There is an increase in the requirement of aircraft materials owing to the rise in the demand for fuel-efficient aircraft. Military forces around the world prefer lightweight aircrafts, which provide fuel efficiency and higher strength. This leads to the use of different types of materials that can be used instead of the conventional ones to create efficient and advanced aircrafts.
The growth of defense aircraft material market is due to available substitutes, which reduces the weight of the aircraft, and thus results in increased speed and higher fuel efficiency. Global security issues and advancement in technology are the key driving factors for defense aircraft materials market. Governments supporting and focus on increasing the expenditure for defense through various initiatives, which in turn is expected to boost development and innovation in defense aircraft material industry. The collaboration between the government and suppliers lead to innovation of new technology. The rivalry in such market is lower and manufacturers go for long-term agreement with suppliers, end users, and government.
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Market players are investing more into developing sophisticated technology and high performing material by incorporating new materials, nanotechnology, and fabrication process. Despite all the benefits and positive results, such aircrafts materials have high cost in terms of maintenance. This in turn limits the defense aircraft material market growth. However, the inclination of countries toward increase in defense power and newer technology presents a good opportunity for both defense aircraft material industry and defense aircraft manufacturers.
The market is segmented by material type, application, and region. Given the defense aircraft material market size, based on material type, the market is segregated into aluminum alloy, steel alloy, super alloy, titanium alloy, composite material, and others. The aluminum alloy segment holds largest defense aircraft material market share in 2018, whereas, the composite material segment is expected to grow at the fastest rate during the forecast period which initially was used in secondary structures only. Based on application, defense aircraft material market is classified into transport aircrafts, combat aircrafts, military cargo, helicopters, and others. Based on region, defense aircraft material market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle-East and Africa). North America covers large defense aircraft material market share owing to the major investment and a dominant agreements and is witnessing high demand for defense aircraft material. Countries from Asia-Pacific such as India, Japan, China, and South Korea are focusing on procurement as well as development of advanced defense aircraft material.
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The defense aircraft material market is capital concentrated and branded by presence of recognized players holding robust monetary backgrounds enabling them to invest further for business expansions. The key players in the market are Pratt & Whitney, Saudi Basic Industries Corporation, The Boeing Company, Advanced Metallurgical Group N.V (AMG), Constellium NV, Magnesium Elektron, Allegheny Technologies Incorporated (ATI), Henkel AG & Co. KGaA, and Toray Composite Materials America, Inc.
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