According to the recent study the aerospace titanium market is projected to reach an estimated $3.4 billion by 2027 from $2.0 billion in 2021, at a CAGR of 9.2% from 2021 to 2027. Growth in this market is primarily driven by increasing deliveries of aircraft and the demand for lightweight titanium materials.
Browse 73 figures / charts and 74 tables in this 158 -page report to understand trends, opportunities and forecast in aerospace titanium market by aircraft type (commercial aircraft, regional aircraft, general aviation, helicopters, and military aircraft), alloy type (alpha, alpha+beta, and beta), application type (structure, engine, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Structure (airframe) market is expected to remain the largest segment during the forecast period.”
Based on application type, the aerospace titanium market is segmented into structure, engine, and others. Lucintel forecasts that the structure (airframe) market is expected to remain the largest segment due to increased focus on weight reduction and fuel efficiency by aircraft manufacturers.
“North America will dominate the aerospace titanium market in near future”
North America is expected to remain the largest region and witness the highest growth over the forecast period due to growth in aircraft deliveries and increasing demand for lightweight materials. The USA is highest contributor of titanium consumption in aerospace industry.
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Major players of aerospace titanium market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Precision Castparts Corp, VSMPO-AVISMA Corporation, Allegheny Technologies Incorporated, Baoji Titanium Industry Co. Ltd.,RTI International Metals, Inc, Kobelco Group are among the major aerospace titanium providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/aerospace-titanium-market.aspx or [email protected]