Stratview Research has published a new research report on the 'Aerospace Metal Matrix Composites (MMCs) Market'. This report covers the top regions & countries of the world and shows a region-wise development status, including market size, shares, revenue, opportunities This report provides a 5-year pre-historic and future forecast for the segment and a comprehensive overview of the global market size.
Impact of COVID-19 on the Aerospace Metal Matrix Composites (MMCs) Market
Covid-19 has affected almost all markets including Aerospace Metal Matrix Composites (MMCs) Market. It has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may return to an uptrend gradually in the approaching future Companies enhancing their operation and policies will survive and break the competition.
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Aerospace Metal Matrix Composites (MMCs) Market: Report Highlights/Market Insights
The global aerospace MMCs market is projected to grow at a healthy rate over the next five years to reach US$ 176.1 million in 2024. Increasing production of composites-rich aircraft coupled with rising demand for lightweight yet durable parts and increasing space exploration activities are the prime drivers for the sustainable demand for MMCs in the aerospace industry. MMCs have an excellent track record in the automotive industry as the material offers numerous advantages, such as a high strength-to-weight ratio, excellent corrosion resistance, excellent fatigue strength, lightweight , and excellent durability, over its rivals including cast iron.Attracting the stakeholders of the aerospace industry to invest in this unique material. MMCs are increasingly witnessing a greater penetration in not only airframe parts of the next-generation aircraft, but also other critical applications, such as landing gears and fan exit guide vanes.
Market Segments' Analysis
The market is segmented based on the platform type as space, civil, and military aviation. Civil aircraft is likely to remain the growth engine of the market during the forecast period. The increasing production rate of the best-selling aircraft program : B787, landing gears are manufactured using MMCs is likely to drive the market for the civil aviation segment during the forecast period. Increasing penetration of MMCs in avionics and recent advancements including the development of robotic arms by TISICS Ltd. are likely to drive the spacecraft segment during the forecast period.
Based on the application type, the airframe is likely to remain the most dominant segment during the forecast period, whereas avionics is likely to remain the fastest-growing segment. Increasing collaboration among market stakeholders, such as Boeing and TISICS Inc. with the help of AMRC to produce titanium composite actuator rods for applications including landing gears, wings, and engines for commercial aircraft assemblies, is likely to increase the penetration of MMCs in the aerospace industry in years to come.
Based on the matrix type, aluminum is projected to remain the most dominant matrix type in the market in the coming five years, whereas titanium is expected to remain the fastest-growing matrix. Titanium MMCs offer numerous advantages, such as a high strength-to -weight ratio, lightweight, high tensile and compressive strength, low coefficient of thermal expansion, and high fatigue resistance. Aluminum is the most widely used MMCs in the aerospace industry, owing to its exceptional properties, which led to its applications in fabricating airframes and interior components.
In terms of region, North America is projected to remain the largest as well as the fastest-growing market worldwide during the forecast period. The USA is likely to remain the growth engine of the region's market as it is the manufacturing hub of the aerospace industry with the presence of major raw material suppliers, metal matrix composite suppliers, tier players, OEMs, airlines, space agencies, private space companies, aircraft leasing companies, and MRO players. Europe is projected to remain the second-largest market for aerospace MMCs during the forecast period. The UK and Russia are the two major contributors to the European market, owing to significant investment in R&D activities, especially for the aerospace industry.
Key Players
The supply chain of this market comprises raw material manufacturers, distributors, and users. Some of the key players in the Aerospace Metal Matrix Composites (MMCs) Market are-
• Materion Corporation
• AMETEK Inc.
• Powdermet Inc.
• Alvant Ltd.
• Triton Systems Inc.
• DWA Aluminum Composites USA, Inc.
• Gamma Alloys •
The 3M Company
• CPS Technologies Corp.
Why invest in this report?
well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints,
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, Product portfolio, new product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Key success factors
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