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Aerospace Titanium Market - By Form (Round Bar, Block, Plate, Sheets, Others), By Manufacturing Method (Traditional Manufacturing, Additive Manufacturing), By Grade (6AL-4V, 5AL-2.55N, 15V-3CR-3SN-3AL, 6AL-2SN-4ZR-2MO, 3Al-2.5V, Others), By End User & Global Forecast, 2023-2032

  • Report ID: GMI2080
  • Published Date: Feb 2023
  • Report Format: PDF

Aerospace Titanium Market Size

Aerospace Titanium Market size valued at USD 1 billion in 2022 and is anticipated to register over 5% CAGR from 2023 to 2032. This is a result of the continued air travel rebound and the escalating commercial aircraft construction projects.

Aerospace Titanium Market

Air travel continues to observe an uptick despite the supply chain instability resulting from the cumulative impact of the Russia-Ukraine war, energy supply challenges, and constrained labor forces. As per statistics from the International Civil Aviation Organization, between January and August 2022, the number of air passengers surged by approximately 55%, as compared to the same period a year earlier. These global trends are encouraging aerospace firms to expand their commercial aircraft ranges to cater to the rising travel demand.

For instance, in October 2022, Airbus planned to deliver more than one aircraft per week for the Indian market, despite engine supply chain issues and the resultant impact on airline capacity enhancement in the country. Such initiatives will create lucrative growth avenues for manufacturers of aerospace composites including titanium matrix composites, consequently influencing market outlook. However, the availability of low-cost substitutes, such as HSCR steel, may create roadblocks to aerospace titanium market development.

Aerospace Titanium Market Analysis

Global Aerospace Titanium Market Size By Form

The sheet form segment is poised to depict gains at nearly 5.5% through 2032. Favorable product attributes including lightweight, high strength, biocompatibility, corrosion resistance, and high-temperature performance are among the key drivers propelling industry growth. Additionally, metal manufacturing firms, including Nippon Steel Corporation, are manufacturing commercially pure titanium sheets for aircraft applications. These sheets have excellent cold formability compared to other sheets, thereby resulting in their increased usage in aircraft manufacturing.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of aerospace titanium crossed USD 1 billion in 2022 and will register over 5% CAGR from 2023 to 2032, due to the air travel recovery and the increasing commercial aircraft construction projects.

The aerospace titanium sheet segment is poised to depict nearly 5.5% gains through 2032, considering lightweight, high strength, biocompatibility, corrosion resistance, and other product attributes.

Asia Pacific aerospace titanium market is set to reach USD 400 million by 2032, owing to the growing population and the air travel recovery.

Plymouth Tube Company USA, ATI, TIMET, Dynamic Metals Ltd., Reliance Steel & Aluminum Co, Smiths Advanced Metals, Aubert & Duval, Jaco Aerospace, and Nippon Steel Corporation are some of the prominent players in the aerospace titanium industry.

Aerospace Titanium Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 12
  • Tables & Figures: 509
  • Countries covered: 18
  • Pages: 355
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