Aerospace Titanium Global Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Aerospace Titanium Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The aerospace titanium market size has grown strongly in recent years. It will grow from $2.83 billion in 2023 to $3.06 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to military aircraft demand, space exploration, air traffic growth, environmental concerns, research and development investments.

The aerospace titanium market size is expected to see strong growth in the next few years. It will grow to $4.12 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rise of urban air mobility (UAM), adoption of digital technologies, sustainable aviation, smart manufacturing, global defense modernization. Major trends in the forecast period include customization, integration of nanotechnology, rise of unmanned aerial vehicles (UAVs), increased outsourcing, increased use of data analytics.

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Market Segmentation:
The aerospace titanium market covered in this report is segmented -

1) By Type: TC4, TC6, TC16, Ti555, Other Types
2) By Alloy Type: Alpha, Alpha+Beta, Beta
3) By Aircraft Type: Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft
4) By Application: Structural Airframes, Engines, Other Applications

Major Driver - Exploring The Boom In Aerospace Market Amid Rising Military Expenditure
The increase in military spending is expected to propel the growth of the aerospace titanium market going forward. Military spending refers to money spent by a government to provide its military with weapons, equipment, and soldiers. Aerospace titanium is utilized in aircraft, armor plating, naval ships, spacecraft, and missiles due to its high tensile strength-to-density ratio, good corrosion resistance, and ability to sustain fairly high temperatures without creep. For instance, in August 2022, according to Visual Capitalist, a Canada-based media and news company, the world's military expenditure totaled $2.1 trillion in 2021, making it the seventh consecutive year of increased military spending. Therefore, the increase in military spending is driving the growth of the aerospace titanium market.

Competitive Landscape:
Major companies operating in the aerospace titanium market report are Berkshire Hathaway Incorporated, Aperam Ltd., GE Aviation, Precision Castparts Corporation, Allegheny Technologies Incorporated, GKN Aerospace Services Limited, Makino Milling Machine Co. Ltd., Carpenter Technology Corporation, VSMPO-AVISMA Corporation, Aarti Industries Limited, Montana Aerospace AG, Baoji Titanium Industry Co. Ltd., Kobelco Group Ltd., Ducommun Incorporated, Kaman Corporation, Toho Titanium Co., Haynes International Ltd., Starrag Group Holding AG, Bralco Metals Inc., Metalex Co. Ltd., EDAC Technology Corp., Plymouth Tube Company, Acnis International, Gould Alloys Limited, Supra Alloys Inc., Weldaloy Specialty Forgings Company, Norsk Titanium US Inc., Titanium Metals Corporation, RMI Titanium Company Inc., Admat Inc.

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Top Trend - GKN Aerospace's Milestone In Additive Manufacturing For Aerospace Titanium
Major companies operating in the aerospace titanium market are launching new technologies facilitating aerospace titanium manufacturing to increase their profitability in the market. Aerospace titanium manufacturing technologies refer to advanced methods and processes that enable the efficient and precise production of titanium components for aerospace applications. For instance, in June 2023, GKN Aerospace, an England-based automotive and aerospace components provider launched Cell3, the largest pre-production cell for additive manufacturing worldwide. GKN Aerospace's latest technology boasts a 20KW laser, 10-axis motion capability, and a spacious inert environment. This titanium additive manufacturing cell caters to Defense and Civil platform parts with a generous substrate size of 5.6m x 2.5m and versatile deposition options. Accelerating GKN Aerospace's technology integration and supporting ongoing product development, the equipment offers a sustainable alternative, particularly in civil applications. The LMD-w method proves to be a game-changer, delivering faster component production with substantial decrease in material wastage.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Aerospace Titanium Market Characteristics
3. Aerospace Titanium Market Trends And Strategies
4. Aerospace Titanium Market - Macro Economic Scenario
5. Aerospace Titanium Market Size And Growth
…..
27. Aerospace Titanium Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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