Global Aerospace Titanium Market Overview:
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%
- Growth of Aerospace & Defense Industry
- Increasing Demand for Aircraft in Aviation and Defense Industry
- The Rising Need for Lightweight Metals Owing to Increase in the Fuel Prices
- Higher Cost Relative to Competing Materials, Primarily Aluminum Alloys, and Steels
- Poor Machinability
- The Growth Opportunities from Developing Countries
- Technological Advancements in Titanium Technology
- Development of Low-Cost Titanium Alloys
Some of the key players profiled in the report are 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). Analyst at AdvanceMarketAnalytics see United States Vendors to retain maximum share of Global Aerospace Titanium market by 2024. Considering Market by Alloy Type, the sub-segment i.e. Alpha will boost the Aerospace Titanium market. Considering Market by Aircraft Type, the sub-segment i.e. Commercial Aircraft will boost the Aerospace Titanium market. Considering Market by Grade Type, the sub-segment i.e. Titanium Grade 2 will boost the Aerospace Titanium market.
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.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Aerospace Titanium market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Aerospace Titanium market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Aerospace Titanium Manufacturers, Raw Material Suppliers, Aerospace Titanium Traders/Distributors, Aerospace Titanium Importer/Exporter, Regulatory & Government Bodies, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.