Lucintel Forecasts Titanium in the Global Aerospace Market to Reach $4.1 Billion by 2025

According to the recent study the titanium in the global aerospace market is projected to reach an estimated $4.1 billion by 2025 from $3.4 billion in 2019, at a CAGR of 3.0% from 2020 to 2025. Growth in this market is primarily driven by increasing deliveries of aircraft and introduction of new aircraft program such as MRJ, Comac C919, and Sukhoi Superjet 130.

Browse 74 figures / charts and 58 tables in this 160-page report to understand trends, opportunities and forecast in titanium in the global aerospace market by aircraft type (commercial aircraft, military aircraft, helicopter, general aviation, and regional aircraft), by application (structure, engine, and others), by alloy type (alpha, alpha+beta, and beta), and by region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Structure market is expected to remain the largest segment during the forecast period.”

Based on application type, the titanium in the global aerospace market is segmented into structure, engine, and others. Lucintel forecasts that the structure market is expected to remain the largest segment, as 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 the global aerospace market, the commercial aircraft segment is expected to remain the largest aircraft type”

Based on aircraft type, the commercial aircraft segment is expected to witness the highest growth over the forecast period due to an increase in aircraft delivery and increasing penetration of titanium alloys in commercial aircraft.

“North America will dominate the titanium in the global aerospace market in near future”

North America is expected to be 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.

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Major players of titanium in the global aerospaces 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. VSMPO-AVISMA, Berkshire Hathaway Incorporated, Allegheny Technologies Incorporated, Alcoa (previously RTI International Metals), Baoji Titanium Industry Co. Ltd., and Kobelco Group and others are among the major titanium in the global aerospace 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 helpdesk@lucintel.com