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Outlook on the Aerospace Tube Materials Global Market to 2026 - Key Drivers and Challenges

Research and Markets
·9-min read

Dublin, July 13, 2021 (GLOBE NEWSWIRE) -- The "Aerospace Tube Materials Market Size, Share, Trend, Forecast, & Competitive Analysis: 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The suitable raw materials are the building blocks of any component used in the aerospace industry, and their uninterrupted supply is extremely crucial for the performance-driven industry. The choice of materials for tubes depends on a wide range of factors such as temperature resistance, lightweight property, durability, engine type, the section of the engine where tubes are to be used, etc. Tube materials currently represent < 5% of the total aerospace raw materials market.

The aerospace industry supplier landscape after a rather stressful year in 2019, with the grounding of B737 Max, P&W 1100G engine series failure (A320neo), and multiple in-flight incidents in PW1500G and PW1900G on Swiss 220s, had been looking forward to 2020 as a year of healthy growth. However, in 2020, the global pandemic caught the aerospace industry off guard, bringing in brusque changes in the business. The intense wrath forced the industry stakeholders to restructure their strategies and cut production rates of their key aircraft programs. The aerospace tube materials market following a similar path, registered a massive downfall of -25.3% in 2020, pushing the market below its 2015-level, creating a lag of at least half a decade.

However, the long-term outlook of the aerospace tube materials market still seems vigorous and the early signs of recuperation are pronounced. Ungrounding of Boeing's B737Max in November 2020, gradual easing up of travel restrictions, aircraft deliveries gradually coming back on track, and aircraft OEMs reporting improved revenue figures in Q1, 2021 are all pointing towards the industry's prompt recovery. The aerospace tube materials market is expected to witness a promising recovery with a CAGR of more than 6% during the forecast period of 2021-2026 to reach an estimated value of US$ 142.3 million in 2026.

Market Segment's Analysis

Based on the platform type, the aerospace tube materials market is segmented as commercial aircraft, regional aircraft, general aviation, military aircraft, helicopter, and spacecraft. Commercial aircraft is expected to remain the largest and the fastest-growing segment of the market during the forecast period. Increasing demand for lightweight yet durable materials in fabricating different components and parts; market entry of new players, such as COMAC and Irkut, ungrounding of B737 Max, and gradually recovering aircraft deliveries across regions are the key factors propelling the demand for tube materials in the commercial aircraft segment.

Based on the material type, the market is segmented as titanium & alloys, nickel & alloys, steel & alloys, and others. Steel & alloys are expected to remain the most dominant material type during the forecast period. The density of titanium is 40% lesser than that of steel- or nickel-based alloys, indicating a remarkable weight advantage for aerospace structures. It is a desirable material for high-performance metal tubes owing to their tensile strength (better than that of austenitic or ferritic stainless steels), stiffness, and toughness along with high melting point. Titanium & nickel alloys are slowly gaining traction in the market, owing to the set of advantages offered by them.

In terms of regions, North America is expected to remain the largest market for aerospace tube materials during the forecast period. The USA is the growth engine of the region's market with the presence of major aircraft OEMs, tier players, tube suppliers, and raw material suppliers. Most of the tube material suppliers have a presence in the region to address the emergent needs of the OEMs as well as to be the partner for their upcoming aircraft programs.

Asia-Pacific is likely to witness the fastest recovery during 2021-2026. The highest growth of the region is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; the opening of assembly plants of Boeing and Airbus for multiple aircraft programs; increasing procurement of military aircraft, owing to rising defense budget; and upcoming indigenous aircraft, C919.

Key Players

The supply chain of this market comprises several nodes including raw material suppliers, intermediate product manufacturers, aerospace component manufacturers, aircraft and engine OEMs, airlines, aircraft leasing companies, and MRO companies. The key players in the aerospace tube materials market are AMETEK, Inc.; Plymouth Tube Co.; Sandvik SE; Carpenter Technology Corporation; Special Metals Corporation; VSMPO-AVISMA Corporation; Villares Steel; Kobe Steel Ltd.; Allegheny Technologies, Inc.; and TIMET (Berkshire Hathaway Inc.). The development of lightweight advanced materials for tubes and other critical applications, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis

  • Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis

  • Market trend and forecast analysis

  • Market segment trend and forecast

  • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.

  • Attractive market segments and associated growth opportunities

  • Emerging trends

  • Strategic growth opportunities for the existing and new players

  • Key success factors

1. Executive Summary

2. Aerospace Tube Materials Market Overview and Segmentation
2.1. Aerospace Tube Materials Market Segmentation
2.1.1. By Platform Type
2.1.2. By Material Type
2.1.3. By Sales Channel Type
2.1.4. By Region
2.2. Supply Chain Analysis
2.3. Industry Life Cycle Analysis
2.4. PEST Analysis
2.5. Market Drivers
2.6. Market Challenges

3. Aerospace Tube Materials Market - The COVID-19 Impact Assessment
3.1. Aerospace Tube Materials Market Trend and Forecast (US$ Million and Thousand Lbs.)
3.2. Pre-COVID vs Post-COVID Assessment
3.3. Real GDP Loss vs Aerospace Tube Materials Market Loss (2020-2021)
3.4. Market Scenario Analysis: Pessimistic, Most Likely, and Optimistic
3.5. Market Segments' Analysis (US$ Million and Thousand Lbs.)
3.6. Regional and Country-Level Analysis (US$ Million)

4. Competitive Analysis
4.1. Insights
4.2. Product Portfolio Analysis
4.2.1. By Platform Type
4.2.2. By Material Type
4.3. Geographical Presence
4.4. New Product Launches
4.5. Strategic Alliances
4.6. Market Share Analysis
4.7. Porter's Five Forces Analysis

5. Aerospace Tube Materials Market Trend and Forecast by Platform Type (2015-2026)
5.1. Insights
5.2. Commercial Aircraft: Regional Trend and Forecast (US$ Million and Thousand Lbs.)
5.3. Regional Aircraft: Regional Trend and Forecast (US$ Million and Thousand Lbs.)
5.4. General Aviation: Regional Trend and Forecast (US$ Million and Thousand Lbs.)
5.5. Military Aircraft: Regional Trend and Forecast (US$ Million and Thousand Lbs.)
5.6. Helicopter: Regional Trend and Forecast (US$ Million and Thousand Lbs.)
5.7. Spacecraft: Regional Trend and Forecast (US$ Million and Thousand Lbs.)

6. Aerospace Tube Materials Market Trend and Forecast by Material Type (2015-2026)
6.1. Insights
6.2. Titanium & Alloys: Regional Trend and Forecast (US$ Million and Thousand Lbs.)
6.3. Nickel & Alloys: Regional Trend and Forecast (US$ Million and Thousand Lbs.)
6.4. Steel & Alloys: Regional Trend and Forecast (US$ Million and Thousand Lbs.)
6.5. Others: Regional Trend and Forecast (US$ Million and Thousand Lbs.)

7. Aerospace Tube Materials Market Trend and Forecast by Sales Channel Type (2015-2026)
7.1. Insights
7.2. Direct Sales: Regional Trend and Forecast (US$ Million and Thousand Lbs.)
7.3. Distributor Sales: Regional Trend and Forecast (US$ Million and Thousand Lbs.)

8. Aerospace Tube Materials Market Trend and Forecast by Region (2015-2026)
8.1. Insights
8.2. North American Aerospace Tube Materials Market: Country Analysis
8.2.1. The USA's Aerospace Tube Materials Market T&F (US$ Million and Thousand Lbs.)
8.2.2. Canadian Aerospace Tube Materials Market T&F (US$ Million and Thousand Lbs.)
8.2.3. Mexican Aerospace Tube Materials Market T&F (US$ Million and Thousand Lbs.)
8.3. European Aerospace Tube Materials Market: Country Analysis
8.3.1. German Aerospace Tube Materials Market T&F (US$ Million and Thousand Lbs.)
8.3.2. French Aerospace Tube Materials Market T&F (US$ Million and Thousand Lbs.)
8.3.3. Russian Aerospace Tube Materials Market T&F (US$ Million and Thousand Lbs.)
8.3.4. The UK's Aerospace Tube Materials Market T&F (US$ Million and Thousand Lbs.)
8.3.5. RoE's Aerospace Tube Materials Market T&F (US$ Million and Thousand Lbs.)
8.4. Asia-Pacific's Aerospace Tube Materials Market: Country Analysis
8.4.1. Chinese Aerospace Tube Materials Market T&F (US$ Million and Thousand Lbs.)
8.4.2. Japanese Aerospace Tube Materials Market T&F (US$ Million and Thousand Lbs.)
8.4.3. Indian Aerospace Tube Materials Market T&F (US$ Million and Thousand Lbs.)
8.4.4. RoAP's Aerospace Tube Materials Market T&F (US$ Million and Thousand Lbs.)
8.5. Rest of the World's (RoW) Aerospace Tube Materials Market: Country Analysis
8.5.1. Brazilian Aerospace Tube Materials Market T&F (US$ Million and Thousand Lbs.)
8.5.2. Saudi Arabian Aerospace Tube Materials Market T&F (US$ Million and Thousand Lbs.)
8.5.3. Others' Aerospace Tube Materials Market T&F (US$ Million and Thousand Lbs.)

9. Strategic Growth Opportunities
9.1. Insights
9.2. Market Attractiveness Analysis
9.2.1. Market Attractiveness by Platform Type
9.2.2. Market Attractiveness by Material Type
9.2.3. Market Attractiveness by Sales Channel Type
9.2.4. Market Attractiveness by Region
9.2.5. Market Attractiveness by Country
9.3. Emerging Trends
9.4. Growth Matrix Analysis
9.5. Key Success Factors (KSFs)

10. Company Profile of Key Players (Alphabetically Arranged)
10.1. AMETEK, Inc.
10.2. Allegheny Technologies, Inc.
10.3. Carpenter Technology Corporation
10.4. Kobe Steel
10.5. Plymouth Tube Co.
10.6. Sandvik AB
10.7. Special Metals
10.8. TIMET (Berkshire Hathaway Inc.)
10.9. VSMPO-AVISMA Corporation
10.10. Villares Metals S.A

For more information about this report visit https://www.researchandmarkets.com/r/jhm53a

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900