Asia Pacific Aerospace And Defense Materials Market Size & Outlook
Asia Pacific aerospace and defense materials market, 2018-2030 (US$M)
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Asia Pacific aerospace and defense materials market highlights
- The Asia Pacific aerospace and defense materials market generated a revenue of USD 2,779.4 million in 2023.
- The market is expected to grow at a CAGR of 7.1% from 2024 to 2030.
- In terms of segment, composites was the largest revenue generating material in 2023.
- Composites is the most lucrative material segment registering the fastest growth during the forecast period.
- Country-wise, Australia is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 2,779.4 million |
| Market revenue in 2030 | USD 4,478.6 million |
| Growth rate | 7.1% (CAGR from 2023 to 2030) |
| Largest segment | Composites |
| Fastest growing segment | Composites |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Aluminum, Titanium, Composites, Superalloys, Steel, Plastics |
| Key market players worldwide | Huntsman Corp, Toray Industries Inc, Arconic, Kobe Steel Ltd, Allegheny & Western Railway, Cytec Industries, Hexcel Corp, Novelis, Constellium SE Class A, SGL Group, Thyssenkrupp AG, Formosa Plastics Group, Teijin Ltd, Strata Investment Holdings plc, VSMPO-AVISMA |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 14.2% of the global aerospace and defense materials market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 4,478.6 million by 2030.
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Aerospace And Defense Materials Market Scope
Aerospace And Defense Materials Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific aerospace and defense materials market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to aerospace and defense materials market will help companies and investors design strategic landscapes.
Composites was the largest segment with a revenue share of 45.25% in 2023. Horizon Databook has segmented the Asia Pacific aerospace and defense materials market based on aluminum, titanium, composites, superalloys, steel, plastics covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific is anticipated to be the fastest growing regional market and is expected to lead the aerospace & defense materials market on account of the growing demand from aerospace manufacturers located in the region.
The market in Japan is estimated to implement the largest manufacturing facilities on account of the ease of availability of raw materials and labor in the country. Growth in passenger traffic is forecasted to drive the market growth over the forecast period.
Moreover, the market is seeing a trend of reduced airfares, resulting in an increase in air travel, which is expected to encourage the production of commercial aircraft, driving the market demand for aerospace & defense materials over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific aerospace and defense materials market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific aerospace and defense materials market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific aerospace and defense materials market size, by country, 2018-2030 (US$M)
Asia Pacific Aerospace And Defense Materials Market Outlook Share, 2023 & 2030 (US$M)
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