Middle East & Africa Aerospace And Defense Materials Market Size & Outlook
Middle East & Africa aerospace and defense materials market, 2018-2030 (US$M)
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MEA aerospace and defense materials market highlights
- The MEA aerospace and defense materials market generated a revenue of USD 970.1 million in 2023.
- The market is expected to grow at a CAGR of 5.9% 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, South Africa is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 970.1 million |
| Market revenue in 2030 | USD 1,452.8 million |
| Growth rate | 5.9% (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, MEA region accounted for 5.0% 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.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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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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Middle East & Africa 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 41.05% in 2023. Horizon Databook has segmented the Middle East & Africa 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.
Middle East countries are the major raw material producer in the world. Aluminum Bahrain is the world’s largest smelter with highest production record of 1.5 million metric tons in 2021. This will allow aircraft manufacturers to procure raw materials at a cheaper price and further benefit the growth of aerospace and defense sector in the region.
Aerospace & defense materials market is expected to grow owing to rapid growth of the aviation industry. In addition, growing number of tourists travelling to the Middle East has resulted in increased passenger traffic in the region, which is expected to drive the market growth over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa aerospace and defense materials market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa aerospace and defense materials market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA aerospace and defense materials market size, by country, 2018-2030 (US$M)
Middle East & Africa Aerospace And Defense Materials Market Outlook Share, 2023 & 2030 (US$M)
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