Market Size of Defense Aircraft Materials Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Defense Aircraft Materials Market Analysis
The defense aircraft materials market is anticipated to register a CAGR of over 3% during the forecast period (2022 - 2031).
The COVID-19 pandemic had a slight impact on the Defense Aircraft Materials Market. For a minor part of 2020, the global lockdown and social distancing norms have led to severe supply chain constraints and a shortage of raw materials across the world. With the gradual relaxation of lockdown and the reduced impact of the pandemic, the supply chain of the materials was restored, and production rates started coming back to normal.
On the other hand, the defense spending and the budgets allocated towards aircraft procurement continued to increase in 2020 and 2021, despite the impact of the pandemic. The growing military conflicts between different countries and the rising demand for military aircraft among major countries are driving the demand for aircraft materials used in various aircraft across the world.
Emerging fabrication technologies and manufacturing processes are envisioned to improve the current properties of the military aircraft materials and foster the impetus for developing new alloys for manufacturing high-performing aircraft parts and airframe structures.
