Aluminium Lithium Alloy Market Current Status and Future Prospects
According to HTF Market Intelligence, the Global Aluminium Lithium Alloy market to witness a CAGR of 5.8% during forecast period of 2023-2028. The market is segmented by Global Aluminium Lithium Alloy Market Breakdown by Application (Narrow Body Aircraft, Wide Body Aircraft, Very Large Aircraft) by Type (2XXX, 7XXX, 8XXX) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The Aluminium Lithium Alloy market size is estimated to increase by USD 156 Billion at a CAGR of 5.8% from 2023 to 2028. The report includes historic market data from 2017 to 2022E. Currently, market value is pegged at USD 131 Billion.
The Aluminium Lithium Alloy market refers to the global industry that produces and sells alloys made of aluminium and lithium, which are used in various applications such as aerospace, automotive, and defense industries. Aluminium lithium alloys are a combination of aluminium and lithium, which are known for their lightweight and high strength properties, making them ideal for use in the manufacture of structural components in various industries. These alloys are used to manufacture parts such as fuselage skins, wing skins, and landing gear components in aircraft, and in automotive applications, they are used to manufacture lightweight components such as wheels and body panels. The Aluminium Lithium Alloy market encompasses the production, distribution, and sale of these alloys to various end-use industries around the world.
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