Materials are utilised in a variety of milled forms in the aerospace sector, including sheet, plate, bar, and strip, for a variety of applications. Engines, fasteners, exhaust ducts (for helicopters), and landing gear are all examples of where bars are used. They are available in a variety of shapes, sizes, and diameters to best suit the application. Temperature resistance, lightweight, durability, strength, and other factors all play a role in material selection. The three most common materials utilised by bar producers are titanium and alloys, aluminium and alloys, and steel and alloys.
MARKET SCOPE
The "Global Aerospace Bars Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the aerospace bars market with detailed market segmentation product type, application, material and geography. The report provides key statistics on the market status of the leading aerospace bars market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the product type, the market is segmented into round bars, flat bars, square bars and others.
- Based on application, the market is segmented into commercial aircraft, military aircraft and general aviation.
- Based on material, the market is segmented into titanium and alloys, aluminium and alloys, steel and alloys and others.
MARKET DYNAMICS
Drivers:
- Growing Production of Aircrafts
- Surging Procurement of Next Generation Military Aircraft
Restraints:
- Concerns Regarding the Durability of the Materials
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The aerospace bars market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the aerospace bars market in these regions
IMPACT OF COVID-19 ON AEROSPACE CONDITION MONITORING MARKET
The aerospace industry was at its peak until 2019, with unceasing demand and unfulfilled orders. However, the B737 MAX grounding in 2019 disrupted the industry's value chain. The players in the industry planned to return to their former ways of doing business shortly; nevertheless, the pandemic hit the industry hard in 2020, incurring unthinkable losses. For the past few years, the sector has seemed to be caught in a vicious circle of roadblocks and downhill trajectories that have resulted in enormous supply chain disruptions, production halts, and order deferrals. The aerospace bars market followed suit, registering a significant drop in 2020. Despite the fact that the current scenario continues to pose a threat to the broader market environment, the long-term picture remains positive, bolstered by the industry's buoyant nature and solid fundamentals. The lifting of Boeing's B737 MAX in October 2021, the progressive loosening of travel restrictions, recovering aircraft deliveries, and Airbus' first-quarter statistics all indicate that the crisis is not yet ended, but is healing. Boeing announced decreased losses in the first quarter of 2021, with hints of a rebound in commercial aerospace and solid performance from the company's defence division. The aforementioned are some major indicators that the aerospace bars market is on its way to a robust recovery at a favourable rate.
MARKET PLAYERS
The report covers key developments in the aerospace bars market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from aerospace bars market are anticipated to lucrative growth opportunities in the future with the rising demand for aerospace bars in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the aerospace bars market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Allegheny Technologies Incorporated
- Arconic Inc.
- Carpenter Technology Corporation
- Constellium SE
- Haynes International Inc.
- Kaiser Aluminum Corporation
- Sandvik AB
- Titanium Metals Corporation (PCC)
- Voestalpine B?hler Welding
- VSMPO-AVISMA Corporation