Aerospace Titanium Market Scope
Titanium is a strong and lightweight refractory metal and possesses numerous unique properties. Despite being as strong as steel, titanium is about forty percent lighter in weight. Moreover, titanium offers resistance to cavitation and erosion, makes it an essential structural metal for aerospace engineers. Owing to several unique properties, titanium alloys are primarily being used in the aerospace industry. Thereby, the demand for titanium alloy has been increased significantly worldwide and the market is expected to witness rapid growth during the forecast period.
According to AMA, the Global Aerospace Titanium market is expected to see growth rate of 3.8%Aerospace Titanium is a fragmented market due to the presence of a large number of established competitors. The key players focus on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions to help them sustain themselves in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Aerospace Titanium market throughout the predicted period.
Acnis International (France), Supra Alloys (United States), Bralco Metals (United States), Kobelco Group (Japan), Precision Castparts Corporation (United States), Gould Alloys (United Kingdom), Metalweb (United Kingdom), Paris Saint-Denis Aero (France), RTI International Metals (United States), VSMPO-AVISMA Corporation (Russia) and Timet (United States) are some of the key players that are part of study coverage.
Segmentation Overview
The study have segmented the market of Global Aerospace Titanium market , by Application (Structure (airframe), Engine and Other) and Region with country level break-up.
On the basis of geography, the market of Aerospace Titanium has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
The Rising Need for Lightweight Metals Owing to Increase in the Fuel Prices
Market Growth Drivers:
Growth of the Aerospace & Defense Industry and Increasing Demand for Aircraft in Aviation and Defense Industry
Challenges:
Development of Low-Cost Titanium Alloys
Restraints:
Higher Cost Relative to Competing Materials, Primarily Aluminum Alloys, and Steels and Poor Machinability
Opportunities:
The Growth Opportunities from Developing Countries and Technological Advancements in Titanium Technology
Market Leaders and their Expansionary Development Strategies
In June 2020, MiddleGround Capital, a private equity fund that makes controlled investments in midmarket B2B industrial and specialty distribution companies in North America, announced that it has completed the acquisition of Supra Alloys and EDGE International from Titan Metal Fabricators.
On 18 June 2019, Norsk Titanium (Norsk) announced a contract award from Airbus for the Qualification and Serial Production of the first parts to be manufactured utilizing wire-based Direct Energy Deposition (DED) additive manufacturing technology. Norsk Titanium is the world’s pioneering supplier of aerospace-grade, additive manufactured, structural titanium components.
Key Target Audience
Aerospace Titanium Manufacturers, Raw Material Suppliers, Aerospace Titanium Traders/Distributors, Aerospace Titanium Importer/Exporter, Regulatory & Government Bodies, End Users and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.