Aerospace Superalloys Market Evolving Technology, Segmentation and Industry Analysis By 2021 To 2027
The research report on aerospace superalloys market, in substance, presents an exclusive understanding of the vast expanse of the business space in question. The report comprises a gist of the industry by means of providing an executive summary, industry insights, industry ecosystem analysis, market segmentation, and global trends. Furthermore, the study also provides deliverables pertaining to the regulatory and competitive landscapes and the strategic perspectives of various industry contenders with respect to the market.
Driven by robust increase in aerospace MRO activities, the aerospace superalloys market might grow at a decent pace over 2027. Intensifying production of aircrafts given to rising air passenger traffic and a need for replacement of ageing aircraft fleet is anticipated to boost product demand in aerospace equipment manufacturing. Aerospace superalloys have excellent heat resistant properties and at higher temperatures can maintain their strength, stiffness, toughness and dimensional stability in contrast to other aerospace structural materials. These superalloys also display resistance against oxidation and corrosion at high temperatures.
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Iron-based superalloys are gaining massive traction in aerospace industry majorly due to the increasing product use for manufacturing discs, casings and blades for jet engines that need lower thermal expansion as well as high-temperature properties. These superalloys also offer improved resistance to creep, corrosion, oxidation and wear which makes them well suited for several aerospace applications such as aircraft shafts, turbine disks, cases, blades, bolts and vanes. Considering the high product usability, iron-based superalloys segment is anticipated to witness a substantial CAGR of around 8% through 2027.
Enormous rise in globalization, along with growing inter-continental business activities is increasing the demand for business aircrafts across several enterprises. This in turn is stimulating the demand for aerospace superalloys in the aviation industry. Geographic expansion of big companies requires their employees to travel to multiple destinations which is expected to propel the segment growth over the following years. According to the report, business aircraft applications segment in aerospace superalloy market is estimated to register a lucrative CAGR of over 7.5% through 2027.
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Geographically, the Europe aerospace superalloys market is expected to be driven by mounting demand for aircrafts from countries such as the UK, France, and Germany. The mature aerospace manufacturing sector in the region could drive product demand for the repair, maintenance, overhaul, and replacement of the existing aircraft having low fuel efficiency. Moreover, growing export of aerospace products overseas and the rise in air travel and air freight activities is projected to stimulate product penetration over the forecast timeframe.
Globally speaking, firms present in the aerospace superalloys market are Haynes International, Inc., Allegheny Technologies Incorporate, Mishra Dhatu Nigam Limited, VDM Metals GmbH, IHI Corporation, and Carpenter Technology Corporation. These companies are engaged in various business strategies such as new product development, mergers and acquisitions, and joint ventures. In 2018, Carpenter Technology announced plans to launch its emerging technology center in Alabama, US, which would focus on additive manufacturing technology development.
Major Key Points from Table of Content:
Chapter 4 Aerospace Superalloys Market, By Product
4.1 Global aerospace superalloys market, by product insights
4.2 Nickel-based
4.2.1 Market estimates and forecast, 2017 – 2027, (Kilo tons) (USD Million)
4.2.2 Market estimates & forecast, by region, 2017 – 2027 (Kilo tons) (USD Million)
4.3 Iron-based
4.3.1 Market estimates and forecast, 2017 – 2027, (Kilo tons) (USD Million)
4.3.2 Market estimates & forecast, by region, 2017 – 2027 (Kilo tons) (USD Million)
4.4 Cobalt-based
4.4.1 Market estimates and forecast, 2017 – 2027, (Kilo tons) (USD Million)
4.4.2 Market estimates & forecast, by region, 2017 – 2027 (Kilo tons) (USD Million)
Chapter 5 Aerospace Superalloys Market, By Application
5.1 Global aerospace superalloys market, by application insights
5.2 Commercial & Cargo
5.2.1 Market estimates and forecast, 2017 – 2027, (Kilo tons) (USD Million)
5.2.2 Market estimates & forecast, by region, 2017 – 2027 (Kilo tons) (USD Million)
5.3 Business
5.3.1 Market estimates and forecast, 2017 – 2027, (Kilo tons) (USD Million)
5.3.2 Market estimates & forecast, by region, 2017 – 2027 (Kilo tons) (USD Million)
5.4 Military
5.4.1 Market estimates and forecast, 2017 – 2027, (Kilo tons) (USD Million)
5.4.2 Market estimates & forecast, by region, 2017 – 2027 (Kilo tons) (USD Million)
5.5 Rotary
5.5.1 Market estimates and forecast, 2017 – 2027, (Kilo tons) (USD Million)
5.5.2 Market estimates & forecast, by region, 2017 – 2027 (Kilo tons) (USD Million)
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