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Hit by global recession, the global aerospace raw materials industry declined during 2010-2011. Itis now expected to grow to
$29,104 million in 2017 with a CAGR of 4% over the next five years.Lucintel, a leading global management consulting and market research firm, has analyzed theemerging trends and growth opportunities of the aerospace raw materials market by material typeand by aircraft type. It presents its findings in the report, "Global Aerospace Raw MaterialsMarket: 2012-2017."
One of the challenges that global aerospace raw materials suppliers face is the cancellation oforders from aircraft original equipment manufacturers as well as raw materials suppliers. Inaddition, the fabrication of raw materials requires a highly skilled labor force, which is difficult toacquire at low-cost wages.
Lucintel's research indicates two major drivers of this market. The replacement of aircraft inmature markets, such as
North America and
Europe, will increase demand for aircraft in thoseregions, which will grow the demand for raw materials. The other primary driver is the anticipateddynamic growth in emerging markets due to increasing numbers of low-cost carriers, open skypolicies, and air traffic growth.
This market study reports on industry size, industry trends (2006–2011), and forecast (2012–2017) for the global aerospace raw materials market. It focuses on the recent developments andan in-depth analysis of the factors shaping the outlook for the aerospace raw materials market.Increasing fuel prices and greenhouse gases emissions regulation will drive the demand foradvanced aerospace materials. Industry players that take the opportunity to engage the properpartners for alliances and take advantage of the growth prospects present in the aerospace rawmaterials can be anticipated to benefit from the growth forecasts for this market.