-- Titanium sponge for aerospace & defense market is estimated to witness strong growth over the forecast timeframe owing to superior qualities including high concentration level of Ti offering enhanced performance and low brittleness required in aviation industry.
In 2017, commercial aircraft lead the titanium sponge for aerospace & defense market demand contributing around 60% of the volume share. The segment is anticipated to hold its dominance during forecast period. Strong demand of the material from Boeing & Airbus owing to noticeable share in global commercial aircraft market will drive the segment demand. These are key consumers and is estimated to hold consistent demand with constant rise in deliveries and backlogs over the forecast timeframe.
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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.
While low weight is a prime factor of consideration, another parameter that has been propelling the demand for titanium is its lesser maintenance cost. This is specifically important in the current scenario, as aerospace giants have been looking forward to using materials which will offer lesser maintenance and longer life. Despite the higher initial costs, titanium alloys provide high structural durability and are relatively inexpensive to maintain. Owing to its superior corrosion resistance capability, titanium alloys also possess excellent durability and are used to manufacture interface links for satellites, gas bottles, liquid propellant tanks, and intertank structures. Taking into account the widespread applicability of titanium alloys, aerospace and defense product manufacturers have been increasing leaning toward the deployment of this material. The surging use of titanium sponge to increase the cost-effectiveness of the final product will thus propel titanium sponge for aerospace & defense market size.
Aerospace magnates are constantly on the lookout for brainstorming new manufacturing processes and advanced products to enhance the performance of aircrafts. In this regard, a few years ago in 2014, Boeing made an investment in Tamil Nadu, India to establish a maintenance-repair and overhauling facility. Incidentally, Tamil Nadu has been producing 10,000 tons of titanium sponge per annum, which may have been a contributing factor for Boeing to expand its presence in the regional titanium sponge for aerospace & defense market.
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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.
Global titanium sponge for aerospace & defense market is consolidated with major industry participants including Tangshan Tianhe, OSAKA, UKTMP JSC, Zunyi, VSMPO AVISMA, Shuangrui Wanji, ZTMC, Toho Titanium, Solikamsk, The Kerala Minerals & Metals Limited and Timet.
Glimpse of Table of Content (ToC)
Chapter 5. Titanium Sponge For Aerospace & Defense Market, By End Use
5.1. Global titanium sponge for aerospace & defense market share by end use, 2017 & 2024
5.2. Commercial Aircraft
5.2.1. Global market estimates and forecasts, 2013 – 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.2.2.1. Airframes
5.2.2.1.1. Global market estimates and forecasts, 2013 – 2024
5.2.2.1.2. Market estimates and forecast, by region, 2013 – 2024
5.2.2.2. Engine Parts
5.2.2.2.1. Global market estimates and forecasts, 2013 – 2024
5.2.2.2.2. Market estimates and forecast, by region, 2013 – 202
5.3. Military Aircraft
5.3.1. Global market estimates and forecasts, 2013 – 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024
5.3.2.1. Airframes
5.3.2.1.1. Global market estimates and forecasts, 2013 – 2024
5.3.2.1.2. Market estimates and forecast, by region, 2013 – 2024
5.3.2.2. Engine Parts
5.3.2.2.1. Global market estimates and forecasts, 2013 – 2024
5.3.2.2.2. Market estimates and forecast, by region, 2013 – 2024
5.4. Other (naval ships, armor plating and missile, helicopters, landing gear)
5.4.1. Global market estimates and forecasts, 2013 – 2024
5.4.2. Market estimates and forecast, by region, 2013 – 2024
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