Titanium Sponge For Aerospace & Defense Market Forecast to 2024 | Tangshan Tianhe, Zunyi, ZTMC, Shuangrui Wanji, VSMPO AVISMA, Solikamsk, OSAKA, UKTMP JSC, The Kerala Minerals & Metals Ltd., Toho Titanium, and Timet

Global titanium sponge for aerospace & defense market trends will be primarily driven by strong demand for lightweight materials with high tensile strength and excellent corrosion resistance to enhance the durability and performance of airplanes. Increased focus on weight reduction to boost fuel-efficiency will accelerate the product demand.

Aircraft components such as engine mounts, seat rails, turbines, floor beam, doorframes and fuselage frames extensively incorporate Ti sponge. Global Market Insights, Inc., predicts that global titanium sponge for aerospace & defense market will be worth USD 1.94 billion by 2024.

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/2581

Ti sponge has witnessed robust demand from commercial aircraft giants such as Airbus and Boeing. Commercial aircraft segment held over 60% of global titanium sponge for aerospace & defense market share during 2017 and will continue its dominance over the projected timeframe.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
Tangshan Tianhe, Zunyi, ZTMC, Shuangrui Wanji, VSMPO AVISMA, Solikamsk, OSAKA, UKTMP JSC, The Kerala Minerals & Metals Ltd., Toho Titanium, and Timet

Product application largely depends on the quality of the material sourced from scrap. Easy availability of the material in the form of scrap at comparatively lower costs is anticipated to fuel the business growth. The product finds widespread use in fire walls, armor plating & missile, landing gear, naval ships and helicopters.

Incorporation of higher concentration of Ti sponge in aircrafts offers several operational advantages such as enhanced fuel-efficiency, performance and low aviation cost. These factors will certainly provide favorable opportunities for titanium sponge providers for aerospace & defense applications.

U.S. titanium sponge for aerospace & defense market will witness a healthy growth over 2018-2024. Presence of major aerospace players in the U.S. is expected to drive the regional demand. Ti sponge is extensively used in naval ship hulls, armor plating and ammunition. Military aircrafts will account for majority of the product demand.

Military aircrafts segment will record a robust 5.6% CAGR over the analysis period. This can be attributed to extensive application of these aircrafts in surveillance, reconnaissance, and aerial warfare and providing supplies to remote areas during military operations. Strong demand for Ti sponge for application in airframes to boost the aircraft efficiency will foster the business growth.

In terms of the regional outlook, Asia Pacific, led by China, Japan, and India dominates global titanium sponge for aerospace & defense market share. The region is anticipated to continue its prominence in the coming years mainly due to the presence of large-scale aircraft manufacturing facilities in Japan and China. These countries are responsible for majority of overall Ti sponge exports.

Make an Inquiry for purchasing this Report @ https://www.gminsights.com/inquiry-before-buying/2581

According to the U.S. Geological Survey import statistics, Japan accounted for more than 78% of the total imports during from 2013 to 2016. Presence of prominent aircraft players such as Boeing and Lockheed Martin will likely continue to be major drivers for titanium sponge for aerospace & defense market players as they hold a notable share in both civil as well as military aircraft industries.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.