According to a new market report published by Lucintel, the future of titanium in the aerospace market looks promising with opportunities in the commercial aircraft, military aircraft, helicopter, general aviation, and regional aircraft. Titanium in the aerospace industry is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $4.1 billion by 2025 with a CAGR of 2% to 4% from 2020 to 2025. The major growth drivers for this market are increasing deliveries of aircraft and the demand for lightweight titanium materials.
Browse 75 market data tables and 85 figures spread through 152 pages and in-depth TOC on “Titanium in the Aerospace Industry"
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In this market, aircraft structure and engine are the major applications of titanium in the aerospace industry. On the basis of its comprehensive research, Lucintel forecasts that the aircraft structure will remain the largest application over the forecast period. The major parts fabricated from titanium include seat tracks, fuselage chords, door frame, wing spar, and crown bulkhead chord. Increased focus on weight reduction and fuel efficiency by aircraft manufacturers has augmented the use of titanium alloys in aircraft structure.
Within the titanium in aerospace industry, commercial aircraft is expected to remain the largest segment and witness the highest growth by aircraft type due to an increase in aircraft delivery and increasing penetration of titanium alloys in commercial aircraft.
North America is expected to remain the largest region and witness the highest growth over the forecast period due to a significant increase in aircraft deliveries and increasing demand for lightweight materials.
Emerging trends, which has a direct impact on the dynamics of the industry, includes developing technology to reduce production cost and increasing applications of titanium in aircraft. VSMPO-AVISMA, Berkshire Hathaway, Allegheny Technologies, Alcoa (previously RTI International Metals), Baoji Titanium Industry, Kobelco Group and Toho Titanium are among the major providers of titanium in the aerospace industry.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for titanium in the aerospace industry by aircraft type, application type, alloy type, and region and has come up with a comprehensive research report entitled “Growth Opportunities for Titanium in the Aerospace Industry 2020-2025: Trends, Forecast, and Market Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for titanium in the aerospace industry by aircraft type, application, alloy type, and region as follows:
By Aircraft Type [Value ($M) and Volume (M lbs) from 2014 to 2025]:
Commercial Aircraft
Military Aircraft
Helicopter
General Aviation
Regional Aircraft
By Application Type [Value ($M) and Volume (M lbs) from 2014 to 2025]:
Structure (airframe)
Engine
Other
By Alloy Type [Value ($M) and Volume (M lbs) for 2018]:
By Region [Value ($M) and Volume (M lbs) from 2014 to 2025]:
North America
Europe
Asia Pacific
The Rest of the World
This 152-page 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/titanium-in-the-global-aerospace-industry.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.