The market for defense aircraft materials is heavily boosted by the rising demand of fuel efficient aircrafts. The usage of composites or titanium alloys reduce the weight of the aircrafts, which in turn enhances the aircraft fuel efficiency. The increase in fuel efficiency of defense aircrafts, is increasing the interest among the military forces to adopt composite materials or other lightweight materials for defense aircraft materials.
Thus, the growing need for fuel efficient aircrafts is boosting the growth of market for defense aircraft materials over the years. The advancement of defense technologies across the globe has developed lightweight, high strength materials for the manufacture of aircrafts. These lightweight materials such as composites, titanium alloys among others are low cost and cheaper than aluminum alloys or steel alloys. The low cost, lightweight materials is driving the market for defense aircrafts materials.
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The major restraining factor for the growth of market for defense aircraft material is the high cost involved in maintenance, repair and overhaul of composite materials, or various alloys used in the defense aircrafts. The alloys or composites are manufactured with different expensive materials such as titanium, aluminum, and stainless steel, fiber reinforced plastics, and epoxy among others. The maintenance of these materials incur huge costs, due to which, the defense forces in the emerging nations are limiting their purchase of aircrafts with these materials. Thus, impacting negatively on the growth of the market in future.
The defense aircraft material market is expected to surge over the period due to growing defense budgets in countries such as Mexico, Germany, Russia, China, India, South Korea and Saudi Arabia among others. The growing defense budget is demanding for advanced aircraft materials in order to support the military forces with the latest aircrafts. The increasing defense budget across the globe is estimated to bolster the market for defense aircraft materials in the coming years.
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Geographically, the market for defense aircraft material is categorized based on five regions across the globe as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The constant focus on development of robust technologies in order to strengthen the defense forces, North America is investing huge amounts, which has led the region to dominate the market. Moreover, due to the presence of major defense contractors in the United States, the demand for defense aircraft materials is also increasing in the region. Countries in Asia Pacific such as China, India, Japan, and South Korea among others are also focusing on development and procurement of advanced defense aircraft materials. This factor is helping the region to grow at a faster rate over the period over other regions globally.
The defense aircraft material market is a diversified market with a huge number of key players present in the market. The leading players in defense aircraft material market includes Supply Dynamics, Inc. (United States), Constellium NV (Netherlands), AMG Advanced Metallurgical Group N.V. (Netherlands), ICF International Inc. (United States), Saudi Basic Industries Corporation (Saudi Arabia), Henkel AG & Co. KGaA (Germany), Aleris International Inc. (United States), Pratt & Whitney (United States), Boeing (United States), and RTI International (United States) among others.
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