This study comprehensively analyzes the application status of aluminum alloy materials in aerospace, transportation, and other fields, and introduces the industry scale and technical level of the aluminum alloy materials in China. Moreover, the main problems of this industry are systematically summarized in view of the shortcomings of some key aluminum alloy materials in China as well as the deficiencies in original technologies such as high-performance aluminum alloy development, processing technology, and intelligent control. And the market demand for the aluminum alloy materials is analyzed based on the development trend of automobile, ship, aerospace, and other fields. According to the current status of the aluminum alloy industry in China, the following countermeasures and suggestions are proposed: enhancing the research and development system to improve the development environment; optimizing the production structure to promote production quality and efficiency and coordinate the development; strengthening policy support; promoting talent team construction; promoting intelligent manufacturing and the Internet Plus initiative; and strengthening international cooperation, particularly along the Belt and Road. This study is expected to help solve some critical problems of the industry and provide a reference for promoting the advanced and green development of aluminum alloy materials.