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Global Aerospace-Grade Aluminium Alloy Plates Supply and Demand Analysis
The global aerospace-grade aluminium alloy plate market is experiencing a period of steady growth as aircraft designers increasingly recognize the advantages of such plates for providing strength and durability as well as lightness and fuel savings. According to a research by Global Market Insights (GMI), the global aerospace-grade aluminium alloy plate market size is estimated to exceed US$ 8.5 billion by 2025.
Aerospace-grade aluminium alloy plates are usually used for applications related to aircraft, military and defence equipment, aircraft engines, and missile components. Depending on the different requirements of the end-use application, the plate can be incorporated into a variety of aluminum products, including sheets, extrusions, forgings, castings, and machined products. The aluminium alloys used in aerospace applications have specific compositions, mechanical properties and microstructures that meet the requirements of the industry.
The rising demand for aerospace-grade aluminium alloy plates in the aircraft segment is driving the market growth. Governmental investments initiatives, such as the China State Environmental and Technology Development Plan, are contributing to the growth of the aerospace-grade aluminium alloy plates market and fuelling the need for light weight materials to improve aircraft structures and components. Increasing global air traffic is also driving market growth. The global civil aerospace market is projected to grow at around 5% per year. This will further stimilate the demand for aerospace-grade aluminium alloy plates and components.
The global aerospace-grade aluminium alloy plate market is highly competitive with the presence of several large and medium-sized players. Major players in the market include Alcoa Corporation, Kaiser Aluminum Corporation, Nippon Light Metal Co. Ltd, Top Metals Inc., Cunico, Alumco, Espirito Aluminium Industries, Kobe Steel, and Changan Group. These companies offer a variety of aerospace-grade aluminum alloy plates in different shapes and sizes. In order to gain a competitive edge over other players, companies are continuously engaged in the development of new aluminium alloy plate technology to enhance the performance and durability of their products.
The global aerospace-grade aluminium alloy plate market is expected to continue to grow in the coming years due to the increasing demand for lightweight materials in the aerospace, defence and aircraft sectors. With the development of new alloys and technologies, it is expected that the market would continue to experience steady growth. In order to gain an advantage in the industry, companies are investing in research and development activities to further improve their product portfolio. Moreover, the implementation of stringent government regulations to reduce the weight of aircraft is expected to significantly expand the demand for aerospace-grade aluminum alloy plates in the near future.
