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India Aerospace Steel Market

ID: MRFR/CnM/45775-HCR
200 Pages
Chitranshi Jaiswal
October 2025

India Aerospace Steel Market Research Report By Product (Steel Bar Stock, Forgings, Castings, Others) and By Aircraft (Commercial Aircraft, Business & General Aviation, Military Aircraft, helicopter)- Forecast to 2035

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India Aerospace Steel Market Summary

As per analysis, the India aerospace steel market is projected to grow from USD 181.49 Million in 2024 to USD 191.39 Million by 2025, exhibiting a compound annual growth rate (CAGR) of 5.45% during the forecast period (2025 - 2035).

Key Market Trends & Highlights

The India aerospace steel market is poised for robust growth driven by indigenous manufacturing and sustainability initiatives.

  • The commercial aviation segment remains the largest contributor to the aerospace steel market in India.
  • Military aviation is identified as the fastest-growing segment, reflecting increasing defense expenditures.
  • Stainless steel continues to dominate the market, while titanium alloys are emerging as the fastest-growing material choice.
  • Key market drivers include government policies supporting indigenous manufacturing and rising demand for aircraft.

Market Size & Forecast

2024 Market Size 181.49 (USD Million)
2035 Market Size 325.43 (USD Million)
CAGR (2025 - 2035) 5.45%

Major Players

Tata Steel (IN), Steel Authority of India Limited (IN), Hindalco Industries Limited (IN), Jindal Steel and Power Limited (IN), Bhushan Steel Limited (IN), Godrej & Boyce Manufacturing Company Limited (IN), Larsen & Toubro Limited (IN), Mahindra Susten (IN)

India Aerospace Steel Market Trends

The India aerospace steel market is currently experiencing a phase of transformation, driven by advancements in technology and increasing demand for lightweight materials. The aerospace sector in India is expanding, with a growing emphasis on indigenous manufacturing capabilities. This shift is likely to enhance the production of high-performance steel alloys tailored for aviation applications. Furthermore, the government's initiatives to boost the aerospace industry, including the Make in India campaign, appear to be fostering a conducive environment for domestic steel manufacturers. As a result, the market is witnessing a surge in investments aimed at enhancing production capacities and technological innovations. In addition, the focus on sustainability and environmental considerations is becoming increasingly prominent within the India aerospace steel market. Manufacturers are exploring eco-friendly production methods and materials that reduce carbon footprints. This trend aligns with global efforts to promote greener aviation solutions. The collaboration between industry stakeholders, including research institutions and government bodies, seems to be pivotal in driving these initiatives forward. Overall, the India aerospace steel market is poised for growth, characterized by technological advancements and a commitment to sustainability.

Indigenous Manufacturing Growth

The emphasis on local production capabilities is reshaping the India aerospace steel market. Government initiatives are encouraging domestic manufacturers to develop high-quality steel alloys, reducing reliance on imports. This trend is likely to enhance the competitiveness of Indian firms in the aerospace sector.

Sustainability Initiatives

There is a growing focus on sustainable practices within the India aerospace steel market. Manufacturers are increasingly adopting eco-friendly production methods and materials, aligning with global environmental standards. This shift may lead to innovations that reduce the carbon footprint of aerospace components.

Technological Advancements

The integration of advanced technologies in steel production is becoming a hallmark of the India aerospace steel market. Innovations such as automation and smart manufacturing processes are enhancing efficiency and product quality. This trend suggests a future where Indian manufacturers can compete on a global scale.

Market Segment Insights

By Application: Commercial Aviation (Largest) vs. Military Aviation (Fastest-Growing)

In the India aerospace steel market, the application segment showcases a diverse distribution where Commercial Aviation holds the largest share. This segment benefits from a consistently high demand driven by the growth of the airline sector, increasing passenger traffic, and the need for modernized fleets. Conversely, Military Aviation is emerging as the fastest-growing segment, spurred by rising defense budgets and strategic initiatives to bolster national security through advanced military aircraft development. The growth trends highlight a significant shift in investments towards both Commercial and Military Aviation, driven by technological advancements and an emphasis on sustainability. Commercial Aviation remains robust, supported by international travel recovery post-pandemic. Meanwhile, Military Aviation's rapid expansion is fueled by geopolitical dynamics, necessitating robust and advanced aerospace solutions for defense purposes.

Commercial Aviation (Dominant) vs. Military Aviation (Emerging)

Within the application segment of the India aerospace steel market, Commercial Aviation is recognized as the dominant force, characterized by established player networks and capacity to fulfill vast production needs. This segment is significantly influenced by global trends in passenger demand and innovation, leading to an ongoing modernization of aircraft designs. On the other hand, Military Aviation is fast becoming an emerging player, driven by enhanced focus on national defense strategies. This segment sees increased investments in cutting-edge aerospace technology and military-grade aircraft, catering to the growing requirement for advanced defense equipment amid evolving security challenges. Both segments showcase distinct regulatory frameworks and market demands, underscoring their unique positions in the steel supply chain.

By Material Type: Stainless Steel (Largest) vs. Titanium Alloys (Fastest-Growing)

In the India aerospace steel market, material types are crucial in determining competitiveness and performance. Stainless steel leads the market due to its superior corrosion resistance, strength, and durability, making it a preferred choice for various aerospace applications. Following closely, titanium alloys have seen a surge in popularity, particularly for weight-sensitive components. Carbon and alloy steels contribute significantly to the market but lag behind in terms of growth and application compared to stainless and titanium options. The growth trends in this segment are influenced by several factors including advancements in aerospace technology, increased demand for fuel-efficient and lightweight materials, and rising investments in the aerospace sector. Titanium alloys are becoming increasingly favored for their exceptional strength-to-weight ratio, leading to their designation as the fastest-growing material type. With the focus on sustainability and enhanced performance, the demand for high-performance materials is set to increase, further cementing the roles of stainless and titanium alloys in the India aerospace steel market.

Stainless Steel (Dominant) vs. Alloy Steel (Emerging)

Stainless steel remains the dominant material in the India aerospace steel market due to its excellent properties such as high strength, resistance to extreme temperatures, and corrosion resistance. This makes it an ideal choice for critical aerospace components, ensuring safety and durability. In contrast, alloy steel is emerging in various applications owing to its enhanced mechanical properties and ability to be tailored for specific demands. Alloy steel's versatility allows it to be utilized in various structural components, albeit it faces stiff competition from stainless steel. As the aerospace industry continues to evolve, the demand for alloy steels is expected to grow, particularly in applications where cost efficiency and performance are equally essential.

By End Use: Airframes (Largest) vs. Engine Components (Fastest-Growing)

In the India aerospace steel market, the distribution among the end-use segments shows that Airframes capture the largest share, reflecting their essential role in aircraft structure and design. Engine Components are also gaining considerable traction, emerging as a dynamic segment poised for substantial growth due to advancements in engine technology and increased demand for fuel efficiency. The market's segmentation highlights the reliance on diverse aerospace applications, with a major focus on both structural integrity and performance enhancement.

Airframes (Dominant) vs. Engine Components (Emerging)

Airframes represent the dominant segment in the Indian aerospace steel market, attributed to their critical function in providing the necessary structural support and aerodynamic efficiency in aircraft. This segment benefits from the ongoing enhancement of aircraft designs and materials science innovations, leading to a steady demand for high-strength steel. On the other hand, Engine Components are rapidly emerging as a key area for growth, driven by the increasing emphasis on engine performance, reduction in weight, and the necessity for efficiency in fuel consumption. As the aviation sector expands and adapts to technological changes, these segments will continue to evolve, aligning with the industry's broader sustainability goals.

Get more detailed insights about India Aerospace Steel Market

Key Players and Competitive Insights

The aerospace steel market in India is characterized by a competitive landscape that is increasingly shaped by innovation, sustainability, and strategic partnerships. Key players such as Tata Steel (IN), Steel Authority of India Limited (IN), and Hindalco Industries Limited (IN) are actively pursuing strategies that enhance their market positioning. Tata Steel (IN) focuses on technological advancements and sustainable practices, aiming to reduce carbon emissions in steel production. Steel Authority of India Limited (IN) emphasizes capacity expansion and modernization of its facilities to meet the growing demand for high-performance aerospace steel. Hindalco Industries Limited (IN) is leveraging its expertise in aluminum and steel to develop lightweight materials that cater to the aerospace sector, thereby enhancing its competitive edge.

The business tactics employed by these companies include localizing manufacturing and optimizing supply chains to enhance efficiency and reduce costs. The market structure appears moderately fragmented, with several players vying for market share. However, the collective influence of these key players is significant, as they drive innovation and set industry standards that smaller companies often follow.

In November 2025, Tata Steel (IN) announced a partnership with a leading aerospace manufacturer to develop advanced steel alloys specifically designed for aircraft components. This collaboration is expected to enhance Tata Steel's product offerings and strengthen its position in the aerospace sector, aligning with the industry's shift towards lightweight and high-strength materials.

In October 2025, Steel Authority of India Limited (IN) unveiled a new production line dedicated to aerospace-grade steel, which is anticipated to increase its output capacity by 30%. This strategic move not only addresses the rising demand for aerospace materials but also positions the company as a key supplier in the domestic and international markets, potentially leading to increased revenue streams.

In September 2025, Hindalco Industries Limited (IN) launched a new range of aluminum-lithium alloys aimed at the aerospace industry, which are designed to reduce weight while maintaining structural integrity. This innovation is likely to attract attention from aerospace manufacturers seeking to enhance fuel efficiency and performance in their aircraft designs.

As of December 2025, the competitive trends in the aerospace steel market are increasingly defined by digitalization, sustainability, and the integration of AI technologies. Strategic alliances among key players are shaping the landscape, fostering innovation and collaboration. The shift from price-based competition to a focus on technological advancements and supply chain reliability is evident, suggesting that companies that prioritize innovation and sustainability will likely emerge as leaders in the evolving market.

Key Companies in the India Aerospace Steel Market market include

Industry Developments

The India Aerospace Steel Market has seen significant developments recently, particularly with companies like Tata Steel and JSW Steel expanding their capabilities to cater to aerospace requirements. In September 2023, Tata Steel announced an investment in enhancing its production capacity for aerospace-grade materials, aligning with the increasing demand driven by India's defense and space sectors.

In the same month, JSW Steel secured a contract with a major aerospace firm to supply high-strength steel, further solidifying its position in the market. Additionally, Larsen, Toubro, and Hindalco Industries are collaborating on developing lightweight alloy materials for aircraft manufacturing, reflecting a shift toward innovation in aerospace materials.

The market has also experienced notable mergers and acquisitions, such as the November 2022 acquisition of a steel fabrication company by Jindal Steel and Power, aimed at strengthening its aerospace supply chain. Growth in the valuation of firms like ArcelorMittal and SAIL has been observed, attributed to increased investments in Research and Development for advanced materials.

Over the past two years, the focus on indigenization has also influenced advancements in aerospace steel production, with government initiatives promoting local manufacturing. These factors collectively shape a rapidly evolving landscape in India's Aerospace Steel Market.

Future Outlook

India Aerospace Steel Market Future Outlook

The India aerospace steel market is projected to grow at a 5.45% CAGR from 2024 to 2035, driven by increasing aircraft production and technological advancements.

New opportunities lie in:

  • Development of lightweight aerospace steel alloys for fuel efficiency
  • Investment in advanced manufacturing technologies to reduce production costs
  • Expansion of supply chain partnerships to enhance material availability

By 2035, the aerospace steel market in India is expected to be robust and competitive.

Market Segmentation

India Aerospace Steel Market End Use Outlook

  • Airframes
  • Engine Components
  • Landing Gear
  • Fuel Tanks
  • Structural Components

India Aerospace Steel Market Application Outlook

  • Commercial Aviation
  • Military Aviation
  • Space Exploration
  • Unmanned Aerial Vehicles
  • General Aviation

India Aerospace Steel Market Material Type Outlook

  • Stainless Steel
  • Alloy Steel
  • Carbon Steel
  • Titanium Alloys
  • Nickel Alloys

Report Scope

MARKET SIZE 2024181.49(USD Million)
MARKET SIZE 2025191.39(USD Million)
MARKET SIZE 2035325.43(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)5.45% (2024 - 2035)
REPORT COVERAGERevenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR2024
Market Forecast Period2025 - 2035
Historical Data2019 - 2024
Market Forecast UnitsUSD Million
Key Companies ProfiledTata Steel (IN), Steel Authority of India Limited (IN), Hindalco Industries Limited (IN), Jindal Steel and Power Limited (IN), Bhushan Steel Limited (IN), Godrej & Boyce Manufacturing Company Limited (IN), Larsen & Toubro Limited (IN), Mahindra Susten (IN)
Segments CoveredApplication, Material Type, End Use
Key Market OpportunitiesGrowing demand for lightweight, high-strength steel in India's aerospace sector presents substantial market opportunities.
Key Market DynamicsRising demand for lightweight aerospace steel driven by advancements in aircraft design and regulatory efficiency standards in India.
Countries CoveredIndia

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FAQs

What is the expected market size of the India Aerospace Steel Market in 2024?

The India Aerospace Steel Market is expected to be valued at 349.65 million USD in 2024.

How much is the India Aerospace Steel Market projected to be worth by 2035?

By 2035, the India Aerospace Steel Market is projected to reach a value of 843.0 million USD.

What is the expected CAGR for the India Aerospace Steel Market from 2025 to 2035?

The market is expected to grow at a CAGR of 8.329 percent during the period from 2025 to 2035.

Which product segment is anticipated to dominate the market in 2024?

The Steel Bar Stock segment is anticipated to hold a significant share with a value of 80.0 million USD in 2024.

What is the projected market value for the Forgings segment by 2035?

The Forgings segment is projected to be valued at 216.0 million USD by 2035.

Who are the major players in the India Aerospace Steel Market?

Major players in the market include JSW Steel, Larsen and Toubro, ArcelorMittal, and Tata Steel among others.

What are the expected market values for Castings in 2024 and 2035?

The Castings segment is expected to be valued at 70.0 million USD in 2024 and 168.0 million USD by 2035.

What are the growth drivers for the India Aerospace Steel Market?

Growth drivers include increasing demand for aerospace applications and advancements in steel manufacturing technologies.

How is the Others product segment expected to perform by 2035?

The Others product segment is projected to reach a value of 267.0 million USD by 2035.

What impact do current global scenarios have on the India Aerospace Steel Market?

Current global scenarios can create fluctuations in demand and supply, ultimately influencing market dynamics.

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