Titanium Sponge for Aerospace & Defense Market size is estimated to exhibit around 4.3% CAGR from 2018 to 2024

Titanium Sponge for Aerospace & Defense Market Size
Titanium Sponge for Aerospace & Defense Market size was estimated at USD 1,452.8 million in 2017 and is anticipated to show approximately 4.3% CAGR during the period of 2018-2024.

Intrinsic characteristics of Titanium (Ti) alloys such as high strength to weight ratio, high corrosion resistance, have consequently resulted in considerable rise in the use of these materials for widespread applications. These applications significantly feature aerospace industry, launch vehicle and satellite propellant tanks, inter-tank structures, gas bottle/liners, satellite interface rings, armor plating and landing gear. Alloys integration requirement in the structure for maximum performance enhancement of these systems is likely to drive the demand for titanium sponge for aerospace & defense.

You see those large commercial aircraft flying overhead? Well, they’re huge fans of titanium foam. It’s used to make all sorts of important parts, like the frame that holds the fuel, the beams on the floor, the spots where the wings connect, the engine mounts, bits of the fuselage, even the rails your seats slide on. And guess what? As these planes get bigger and better, they need even more titanium foam. It’s what holds them together and keeps them so light, enabling them to fly so efficiently. And that is good news for titanium foam-producing companies. They stand to receive an enormous business windfall as the aerospace and defense sectors continue expanding in the next couple of years.

Titanium Sponge for Aerospace & Defense Market Report Attributes
Report Attribute Details
Base Year 2017
Titanium Sponge for Aerospace & Defense Market Size in 2017 1452.8 Million (USD)
Forecast Period 2018 to 2024 CAGR 4.3%
2024 Value Projection 1.94 Billion (USD)
Historical Data for 2013 to 2017
No. of Pages 350
Tables, Charts & Figures 361
Segments covered Material Type, End Use and Region
What are the opportunities of growth in this market?

Hi there! Did you know that titanium is actually quite abundant in the Earth’s crust? It’s the fourth most abundant metal! But here’s the thingit’s not as simple to extract from the ground and turn into things as other metals such as steel or aluminum. So, although it’s plentiful, it’s a lot more expensive to use. Like, 30 times more expensive than steel or 6 times more expensive than aluminum. That’s like spending $30 on a cheeseburger when you can have one for a dollar! This makes it slightly difficult for firms to apply titanium to applications such as airplane parts and engines. It’s an excellent material, but it is simply too costly to make it common. Therefore, it is somewhat restraining the development of the market for aerospace and defense applications of titanium.

Polymer matrix composite (PMC) compatibility is one of the main factors influencing aircraft development and designing due to augmented usage of the composites by the aircraft structure. In contrast to carbon, aluminium, and low alloy steel of aluminium which have high galvanic potential, Ti happens to be compatible galvanically with the carbon fibers of PMC and thus serves as a critical necessity for structure development. Additionally, the unit price of the foam has seen considerable reduction in the last few years, is likely to offer robust growth scenario in the next few years.

Titanium Sponge for Aerospace & Defense Market Analysis
Aviation grade metals need series of test procedures for the qualification of materials for aerospace applications. For example, proof pressure testing and burst test expose these materials to over 500 bar pressures. For the qualification in these tests, the most effective way is to supply high grade material that exhibit purity levels above 99.7%, also known as aerospace grade.

Need to cater the increasing demands of the aviation and defense sectors, most of the company sales and production consist of high grade material, spreading the aerospace and defense high-grade titanium sponge market share. Further, due to these conditions, this sector is predicted to register highest growth in the forecast period.

Major commercial aircraft producing companies, Airbus and Boeing which account for more than 80% of the world’s commercial aerospace industry are among the major users of TI foam. In 2017, the two accounted for more than 1400 aircraft deliveries. The company backlogs, on the other hand, had more than 13,000 as of late 2017.

B737 and B777 (Boeing type) demanded about 20 to 50 tons of Ti, while A320 (Airbus type) demanded 12 tons of TI for its production. Advanced variants like B787, A380, and A350 use well over 80 tons of Ti metal for its production, more in percentage weight and volume wise compared to previous traditional models. This trend shall fuel the growth of the size of the market for titanium sponge for aerospace & defense.

U.S. is expected to lead the worldwide titanium sponge for aerospace & defense market during the next seven years. Blessed with the highest spending on aerospace and defense in the world, and the location of the big brands of the aerospace industry that exclusively comprise Boeing and Lockheed Martin, the region is likely to see steady demand during the upcoming years. Also, usage of these materials as naval ship hulls, ammunition and missile armor plating will offer a positive growth scenario during the forecast period.

By Global Market Insights analysis, Japan and China accounted for more than 60% of Ti foam production across the world. Additionally, due to the prevailing geo-political tensions various economies in the Asia Pacific region have increased their defense spending in the last few years. Need to maintain the strategic dominance over the surrounding economies, the region is anticipated to observe maximum growth prospects.

Titanium Sponge for Aerospace & Defense Market Share

• Zunyi Titanium
• Tangshan Tianhe
• Shuangrui Wanji Titanium
• Zaporozhye Titanium & Magnesium Combine
• Solikamsk
• VSMPO AVISMA
• Ust-Kamenovgorsk Titanium & Magnesium Plant JSC (UKTMP)
• OSAKA Titanium
• Toho Titanium
• The Kerala Minerals & Metals Ltd.
• Timet

are among the chief contributors of the titanium sponge for aerospace & defense market. High initial capital requirement for the production facility and the difficulty in procuring the clients has in turn led to limited number of new entrants in the industry.

Requirement to meet national Ti metal requirements with an internal facility across the major global economies is expected to drive the competition over the forecast period. For instance, in August 2015, Indian government fully commissioned the operation of The Kerala Minerals & Metals Ltd., with an initial production capacity of 500 tons. Owing to this development, India was the seventh country to across the globe, that has its in-house Ti production facility.