Aerospace and Defence Materials Market to Reach USD 30.13 Billion by 2031 as Lightweight Alloys, Fleet Expansion and Space Programs Lift Demand

Fuel-efficient aircraft, satellite expansion and rising defense investment are driving demand for advanced composites and alloys, according to Kings Research.

LAS VEGAS, NV – October 7, 2026 – The global Aerospace and Defence Materials Market was valued at USD 19.56 billion in 2023 and is projected to grow from USD 20.52 billion in 2024 to USD 30.13 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 5.64% during the forecast period, according to Kings Research. The market covers the high-performance materials used to manufacture aircraft, spacecraft and defense equipment, where durability, light weight and resistance to extreme conditions are essential.

Market Overview

Strong commercial aviation growth and accelerated space programs are fueling demand for innovative aerospace materials and positioning the market for sustained expansion. Airlines are prioritizing lower fuel consumption and operating costs, which is increasing the use of advanced composites and alloys across new aircraft platforms. That demand is pushing material suppliers to innovate on performance, sustainability and cost efficiency at the same time.

Air travel recovery continues to support the outlook. In January 2024, the International Air Transport Association reported that total traffic rose 36.9% in 2023 compared with 2022, reaching 94.1% of pre-pandemic levels, while international traffic rose 41.6%. A rebounding passenger base translates into fleet expansion, new aircraft deliveries and sustained consumption of structural materials.

Key Highlights from the Report

• The market was valued at USD 19.56 billion in 2023 and is projected to grow at a 5.64% CAGR from 2024 to 2031.
• North America held a 37.32% share in 2023, valued at USD 7.30 billion.
• The aluminum alloys segment generated USD 7.16 billion in revenue in 2023.
• The commercial aviation segment is expected to reach USD 14.01 billion by 2031.
• Asia Pacific is anticipated to grow at a CAGR of 6.26%, with a projected value of USD 6.39 billion in 2031.

Market Driver: Space Exploration and Satellite Expansion

The growth of space exploration and satellite technologies is a major driver. Governments and private entities are investing in advanced space missions, increasing demand for specialized composites and alloys that withstand extreme conditions and keep spacecraft and satellites functional. An April 2024 report highlighted by the World Economic Forum indicated that the global space economy could reach USD 1.8 trillion by 2035, rivaling the semiconductor industry. Communications, navigation and Earth observation services all depend on advanced materials, which points to a long runway of demand.

Market Challenge: High Manufacturing Costs

Advanced technologies, specialized facilities and the need for precision and compliance with stringent industry standards keep manufacturing costs high. Kings Research notes that companies can respond with cost-efficient methods, including additive manufacturing, automation and strategic partnerships. Streamlining production, enhancing supply chain collaboration and leveraging economies of scale can reduce expenses, protect profitability and maintain competitiveness in a demanding global market.

Market Trend: Lightweighting with Advanced Alloys

Manufacturers are turning to advanced alloys to reduce weight without compromising strength or durability, a trend central to improving operational efficiency, enhancing fuel economy and meeting environmental regulations. In June 2024, the Japan Aerospace Exploration Agency, Mitsubishi Electric, Kumamoto University and TOHO KINZOKU introduced the first high-precision 3D printing technology for magnesium alloys in wire-laser metal 3D printing. The advance points toward lighter, stronger components and lower production cost.

Segmentation Analysis

By material type: Aluminum alloys earned USD 7.16 billion in 2023. Their balance of strength, light weight, cost-efficiency and corrosion resistance makes them well suited to structural applications in both commercial and military aerospace. Steel alloys, titanium alloys and other materials make up the remainder of the segment.

By application: Commercial aviation held a 47.61% share in 2023, driven by rising global air travel, airline fleet expansion and higher production of fuel-efficient aircraft. The segment is expected to reach USD 14.01 billion by 2031. Military aircraft and spacecraft applications are also expanding as defense budgets and launch activity grow.

Regional Analysis

North America accounted for 37.32% of the market in 2023, valued at USD 7.30 billion. High defense spending, led by the United States, drives demand for advanced materials in defense and aerospace applications and supports innovation, technology advancement and supply chain growth. In September 2024, the Aerospace Industries Association, in collaboration with S&P Global Market Intelligence, reported that the U.S. aerospace and defense industry generated over USD 955 billion in sales and contributed USD 425 billion to GDP in 2023.

Asia Pacific is poised to grow at a CAGR of 6.26%, supported by investments from China, Japan and South Korea in domestic commercial aircraft programs. This surge in aerospace manufacturing is lifting demand for advanced materials across the region. In December 2024, an Airbus report highlighted China’s continuing growth in aviation, underscoring the scale of the regional opportunity.

Regulatory Landscape

In the United States, the Federal Aviation Administration enforces strict frameworks governing civil aviation safety, including certification of aerospace materials, with standards such as FAR Part 25 ensuring reliability. The Environmental Protection Agency regulates hazardous substances, emissions and waste management in aerospace and defense material manufacturing. In Asia Pacific, the Civil Aviation Administration of China regulates civil aviation safety and certifies aerospace materials, supporting the competitiveness of the country’s expanding aerospace sector.

Competitive Landscape

The market is undergoing consolidation through strategic acquisitions that expand technological capabilities. These deals focus on specialized materials, engineering solutions and deployable systems, strengthening competitive positioning and differentiation. In March 2025, Applied Aerospace acquired NeXolve, a specialist in thermo-mechanical engineering and advanced polymer applications for space systems, combining NeXolve’s expertise in deployable sunshields and solar sails with its own composite and metallic manufacturing capabilities.

Key companies profiled in the report include Toray Industries, Solvay, DuPont, Alcoa Corporation, Teijin Limited, ATI, Constellium, Kobe Steel, AMG, Novelis, Hexcel Corporation, Arconic, CRS Holdings, Materion Corporation and 3M.

Recent Developments

• January 2025: Redwire Corporation announced the acquisition of Edge Autonomy, a leader in uncrewed airborne system technology, strengthening its space infrastructure and uncrewed systems capabilities.
• December 2024: Woodward announced the acquisition of Safran Electronics & Defense’s electromechanical actuation business, including technologies for aircraft stabilization systems such as Horizontal Stabilizer Trim Actuation.
• January 2024: Arlington Capital Partners launched Verus Aerospace, a platform focused on next-generation aerospace, defense and space programs, specializing in large, complex components for mission-critical applications with operations in California, Kansas and Washington.

Strategic Insights and Opportunities

Kings Research highlights several priorities for suppliers and investors. Material qualification is a defining feature of this industry: a new alloy or composite typically must pass lengthy testing and certification before it is specified on a program, which favors suppliers with established relationships and deep technical support. Once qualified, however, materials can remain in production for decades, giving incumbents durable revenue streams and making early program wins especially valuable.

Lightweighting will continue to guide product development. Aluminum alloys retain their lead because of cost and familiarity, while titanium alloys and advanced composites take on more structural roles where weight savings justify higher prices. Suppliers that can reduce scrap, shorten processing times and recycle production offcuts will improve margins in an industry where input costs are significant. Additive manufacturing offers another route, since it can produce complex, near-net-shape parts with less material waste, as shown by recent advances in magnesium alloy printing.

Supply chain resilience is also a concern. Specialty metals and carbon fiber precursors depend on concentrated supply sources, and manufacturers are looking at dual sourcing, regional production and longer-term supply agreements. Space is another growth area, as satellite constellations, launch vehicles and in-space infrastructure require materials able to handle radiation, thermal cycling and vacuum. Companies that develop products specifically for these conditions can diversify beyond traditional aircraft programs and capture demand from a growing set of commercial space operators.

Outlook

Kings Research expects the market to remain closely tied to commercial aircraft production rates, defense procurement and the pace of satellite and launch activity. Suppliers that can deliver lighter alloys and composites at lower cost, while meeting rigorous certification requirements, are likely to gain share. Additive manufacturing and automation are expected to play a growing role in easing cost pressure, and continued consolidation should further reshape the supplier landscape through 2031.