Advanced aerospace materials market to hit $51.2B by 2031, driven by space economy and defense spending growth

The global advanced aerospace materials market is expected to grow from $32.6 billion in 2025 to $51.2 billion by 2031, at a CAGR of 8.5%. Growth is fueled by the expanding commercial space economy, increased defense budgets, and strong aircraft order backlogs. North America leads the market with nearly half the share, supported by major aerospace manufacturers and defense investments. Key materials include advanced alloys and composites, with innovation driven by private space companies and military modernization programs. Investors should watch for opportunities in ceramic-matrix composites and additive manufacturing, while being mindful of supply chain and quality control risks.