Titanium Sponge for Aerospace & Defense Market | Key Players are Tangshan Tianhe, Zunyi, ZTMC, Shuangrui Wanji, VSMPO AVISMA, Solikamsk, OSAKA, UKTMP JSC, The Kerala Minerals & Metals Ltd., Toho Titanium, Timet

Global titanium sponge for aerospace & defense market is projected to cross USD 1.94 billion by 2024. Requirement of materials with low weight, high tensile strength, and very high resistance to corrosion for better performance and durability of the airplanes will propel the industry growth. Enhancing the fuel efficiency and aircraft weight reduction is among the key factor for growth of titanium sponge for aerospace & defense market. Aircraft engine mounts, turbines, seat rails, floor beam, fuselage frame and doorframes are few major aircraft parts manufactured using these material alloys. Proliferating demand for these components will drive the business growth.

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Military aircrafts are estimated to witness rapid growth around 5.6% during the forecast period due to positive application outlook in aerial warfare, reconnaissance, surveillance and provide supplies to remote areas in military operations. Surge in emphasis for efficient operations will increase application of Ti sponge in military aircrafts, particularly for airframes.

Aerospace & Defense Titanium Sponge Market by Material Type

• High-grade
• Medium-grade
• Low-grade

Aerospace & Defense Titanium Sponge Market by End Use

• Commercial Aircraft
• Airframes
• Engine Parts
• Military Aircraft
• Airframes
• Engine Parts
• Others (Helicopters, naval ships, armor plating & missile, landing gear and fire walls)

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U.S. is expected to witness sturdy growth of titanium sponge for aerospace & defense market over forecast period owing to large defense expenditure across the globe, and presence of the major aerospace players in the region. In addition, utilization of Ti for missile armor plating, naval ship hulls and ammunition will witness healthy growth from 2018 to 2024.

Asia Pacific leads the Ti sponge for aerospace & defense market with presence of China and Japan. The region is expected to retain its dominance over the forecast period due to presence of largest production facilities in Japan and China. Further, these countries have a significant contribution in overall Ti sponge exports. As per U.S. Geological Survey import sources, Japan contributed approximately 78% of the total imports during the period of 2013 to 2016. Presence of key aircraft companies namely Lockheed Martin and the Boeing shall continue to be prominent targets for industry participants as they have major share in both civil and military aircrafts industry. The demand in the region will surge with rise in production facilites in India.

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Commercial aircraft dominated the global titanium sponge market demand in 2017 accounting for around 60% of the industry size, is expected to retain its dominance over the forecast period. Airbus & Boeing contribute a significant share of the overall commercial aviation market share and are among the major Ti metal consumers. Growing number of deliveries and backlogs are expected to provide consistent demand through the forecast period.

Some of the major industry participants in the global market include Tangshan Tianhe, Zunyi, ZTMC, Shuangrui Wanji, VSMPO AVISMA, Solikamsk, OSAKA, UKTMP JSC, The Kerala Minerals & Metals Ltd., Toho Titanium, and Timet.

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