NEWARK, Del, June 15, 2023 (GLOBE NEWSWIRE) -- The aviation titanium alloy market size is anticipated to expand its roots at an average CAGR of 6.9% between 2023 and 2033. The market is expected to have a market share of US$ 8.01 billion by 2033 while it is likely to be valued at US$ 4.11 billion in 2023.
- The enhanced and strong structure of aircraft such as engines, airframes, and landing gear have pushed aircraft manufacturers to adopt titanium. Titanium is a lighter, flexible, strong, and anti-toxic material that easily carries higher weight but doesn't have much of its own. This way it helps in making titanium fuel efficient too.
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- Aviation companies are adopting titanium alloy and its grades for multiple operations. The passenger-class aircraft are also building aircraft parts with titanium to deliver better passenger comfort, enhanced security, and overall balance to aircraft due to the extraordinary fabrication possibilities.
- The high melting point of it makes it safer than steel as the high melting point promotes its strength against the heat and high temperature. Also, its non-toxic, bio-compatible state has no side effects on humans.
- The minimal thermal expansion property of the aviation titanium alloy delivers greater structural stability, making it rigid and lightweight.
Key Points
- The United States market leads the aviation titanium alloy market in terms of market share in North America. The United States region held a market share of 32.1% in 2022. The growth in this region is attributed to enhanced research and development activities and the application of titanium in defense aircraft.
- The German market is another important market in the European region. The market held a market share of 5.6% in 2022. The growth is attributed to the growing concern around passenger safety and comfort along with Germany being the hub of major aircraft manufacturing brands.
- The Indian aviation titanium alloy market thrives at a steady CAGR of 8.3% during the forecast period. The growth is attributed to government efforts and military consumption.
- The Chinese market thrives at a CAGR of 7.7% between 2023 and 2033. The growth is caused by higher aircraft imports.
- Based on microstructure type, the alpha-beta alloys segment leads the market as it held the major share of 41.1% in 2023.
- Based on the application, the civilian aerospace segment leads the market as it held a market share of 62.0% in 2022.
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Competitive Landscape
The key vendors focus on improving the strength, flexibility, and compatibility of titanium and its types. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.
Recent Market Developments
- VSMPO-AVISMA Corporation has revisited its Ti-8AI-1Mo-1V alloy which is highly resistant to temperature. The product is majorly applied in the compressor blades and other fan blades. Due to its temperature resistivity, the product is also used in engine work.
- RTI International Metals has also launched its tally of titanium grades suitable for aviation applications. The list goes from alloy 3
Key Players
- VSMPO-AVISMA Corporation
- RTI International Metals
- Paris Saint-Denis Aero
- Metal web
- Gould Alloys
- Precision Castparts Corporation
- Kobelco Group
- Bralco Metals
- Acnis International
Key Segments Covered
By Type:
- Commercially Pure Titanium
- Titanium Alloys
By Application:
- Structural Airframes
- Engines
- Civilian Aerospace
- Others
By Microstructure:
- Alpha & Near-Alpha Titanium Alloy
- Alpha + Beta Titanium Alloy
- Beta & Near-Beta Titanium Alloy
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Table of Content (ToC)
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
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