Aerospace & Defense Materials Market will exhibit a CAGR of 4.21% during the forecast period and reach USD USD 23,825.45 million by 2027, and the market value as per 2019 was USD 18,411.83 million.
Fortune Business Insights™ in a recently published report, titled, “Aerospace & Defense Materials Market Size, Share & Industry Analysis, By Materials (Titanium Alloys, Aluminum Alloys, Composites, Super Alloys, Steel and Others), By Aircraft (Commercial, Military, Business & General Aviation and Others) and Regional Forecast, 2020-2027.”
Aerospace & Defense Materials Market Drivers and Restraint :
Rising Adoption of Carbon Fiber Composites to Feed Market Growth
The aerospace & defense materials market growth is slated to accelerate as airliners expand application of carbon fiber composites in their aircraft fleet. Carbon fiber is known for its excellent lightweight and enhanced durability properties, which make aircrafts more fuel-efficient. Moreover, composites of this material are resistant to fatigue and corrosion, which lowers maintenance costs of components. For example, Airbus tested the new carbon fiber wings on its advanced A350 XWB in 2014 and found that the wings displayed greater flex, strength, and rigidity compared its aluminum predecessors. A more recent example is the introduction Sigrafil, a novel carbon fiber with a high Young’s modulus developed by SGL Group, designed for use in aerospace applications.
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