China Aerospace And Defense Materials Market Size & Outlook
China aerospace and defense materials market, 2018-2030 (US$M)
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China aerospace and defense materials market highlights
- The China aerospace and defense materials market generated a revenue of USD 1,426.3 million in 2023 and is expected to reach USD 2,328.8 million by 2030.
- The China market is expected to grow at a CAGR of 7.3% 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.
Aerospace and defense materials market data book summary
| Market revenue in 2023 | USD 1,426.3 million |
| Market revenue in 2030 | USD 2,328.8 million |
| Growth rate | 7.3% (CAGR from 2023 to 2030) |
| Largest segment | Composites |
| Fastest growing segment | Composites |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, China accounted for 7.3% of the global aerospace and defense materials market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China aerospace and defense materials market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 480.9 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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China 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 44.62% in 2023. Horizon Databook has segmented the China 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.
China is anticipated to be the fastest growing market for aerospace & defense materials owing to the progressing economy, coupled with opportunities related to aircraft maintenance and service. Moreover, government initiatives to increase domestic manufacturing capabilities and overall export to the U.S. are likely to boost the demand for aerospace & defense materials over the forecast period.
The market is witnessing an increase in the penetration of composite materials owing to the increasing demand for lightweight materials for commercial aircrafts for passenger and freight transportation. This is anticipated to have a positive effect on the aerospace & defense materials market over the forecast period.
In addition, government firms in China are offering assistance and financial aid for the development of the domestic aircraft manufacturing industry, which is likely to result in an increase in demand for aerospace materials over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the China aerospace and defense materials market , including forecasts for subscribers. This country databook contains high-level insights into China aerospace and defense materials market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China aerospace and defense materials market size, by material, 2018-2030 (US$M)
China Aerospace And Defense Materials Market Outlook Share, 2023 & 2030 (US$M)
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