North America Aerospace And Defense Materials Market Size & Outlook
North America aerospace and defense materials market, 2018-2030 (US$M)
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North America aerospace and defense materials market highlights
- The North America aerospace and defense materials market generated a revenue of USD 10,841.7 million in 2023.
- The market is expected to grow at a CAGR of 4.8% from 2024 to 2030.
- In terms of segment, composites was the largest revenue generating material in 2023.
- Titanium is the most lucrative material segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 10,841.7 million |
| Market revenue in 2030 | USD 15,081.9 million |
| Growth rate | 4.8% (CAGR from 2023 to 2030) |
| Largest segment | Composites |
| Fastest growing segment | Titanium |
| 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, North America region accounted for 55.5% 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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North America 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 38.19% in 2023. Horizon Databook has segmented the North America 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.
Aerospace materials market in North America is driven by the high demand for passenger transportation. Rising environmental concerns due to increased carbon emissions has led the demand for fuel efficient aircrafts.
Use of lightweight materials in aircraft manufacturing helps to reduce the overall weight of an aircraft, boosting its fuel efficiency. This, in turn, is expected to bolster the demand for lightweight materials over the forecast period.
Moreover, the region is characterized by the presence of major aircraft manufacturers, such as Boeing, Northrop Grumman, Lockheed Martin, which is anticipated to fuel the demand for aerospace materials over the forecast period.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America aerospace and defense materials market , including forecasts for subscribers. This continent databook contains high-level insights into North America aerospace and defense materials market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America aerospace and defense materials market size, by country, 2018-2030 (US$M)
North America Aerospace And Defense Materials Market Outlook Share, 2023 & 2030 (US$M)
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