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Aeronautical Titanium Market Segmentation, Outlook To Reach USD 4.42 Billion by 2027

Reports And Data

Reports And Data

Growing demand for energy-efficient aircraft for military and commercial applications is likely to propel market growth.

NEW YORK CITY, NY, UNITED STATES, February 1, 2022 /EINPresswire.com/ -- The Aeronautical Titanium Market is forecast to reach USD 4.42 Billion from USD 3.15 Billion in 2019, showcasing a growth rate of 4.1% through 2027. The market growth is driven by a plethora of factors, including increasing investment in fighter aircraft, expansion of the global aviation industry, rise in the number of space exploration programs, and technological advancements in aircraft manufacturing.

Titanium is 30% stronger and nearly 50% lighter than steel. The metal exhibits high corrosion resistance, and when exposed to the atmosphere, titanium forms a firm, tenacious oxide film that offers immense resistance from most of the corrosive materials. Aeronautical titanium is witnessing high demand as it not only increases the range of aircraft but also decreases its fuel use significantly. A lighter aircraft requires less fuel for flying, enabling fewer refueling stops and, subsequently, longer continuous flight. All these benefits offered by the material is expected to boost aeronautical titanium market growth.

Increasing fuel prices and the current slowdown of the economy, globally, is leading to a growing need for more fuel-efficient aircraft. Considering titanium’s weight-to-strength proportion, planes made out the metal are lighter and expends less fuel, which is why several airliners are switching to titanium for making several parts of the aircraft. Increasing investments in fighter planes and military helicopters from various countries across the globe will supplement aeronautical titanium market share through 2027. Additionally, the proliferation of advanced technology to develop highly efficient planes will foster market revenue share over the forecast period. For instance, in February 2020, General Atomic Aeronautical systems, an aeronautics company that provides unmanned aerial vehicles & radar solutions to the U.S. military and for commercial applications globally, had performed the first test flight of a metal 3D printed part – a Neighborhood Assistance Corporation of America (NACA) inlet made in Titanium Ti6AI4V on a Sky Guardian RPA (Remotely Piloted Aircraft).

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A report propounds that between 2009 and 2019, passenger miles increased by 93% worldwide, and the number of aircraft in commercial aviation increased by nearly 45 %. A similar trend will bolster aeronautical titanium market growth over the forecast period. However, the aviation sector is the hardest hit with the COVID-19 pandemic on account of the mandatory lockdown restricting the movement of people across the globe, leading to a significant reduction of airline traffic. The IATA estimates that the revenue of the aviation industry will fall by 55% in the current year, which may hamper industry growth to some extent.

Top Leaders Operating in the Market are :
Acnis International, Bralco Metals, Supra Alloys, Kobelco Group, Gould Alloys, Precision Castparts Corporation, Metalweb, Alcoa, VSMPO-AVISMA Corporation, and Paris Saint-Denis Aero, among others.

Further key findings from the report suggest:

The global aeronautical titanium market is forecast to reach USD 4.42 Billion from USD 3.15 Billion in 2019, showcasing a growth rate of 4.1% through 2027.
Based on application, the structural frames segment held contributed significantly towards the global aeronautical titanium market share in 2018 and are is estimated to maintain its dominance over the analysis, delivering a CAGR of 4.2%.
Based on end-use, the commercial segment is likely to account for the majority revenue generation, exhibiting a CAGR of 3.7% through 2027.
In the regional landscape, the Asia Pacific region is estimated to witness the fastest growth rate of 4.7% through 2027. According to IATA, China is expected to topple the United States as the largest aviation industry in terms of air traffic, by the end of 2024. The agency also estimated that an additional 1.8 billion passengers per year would be conveyed to and from within the region by 2035, which may positively impact regional industry growth.

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Market Overview:
Chemical and manufacturing industry largely caters to a broad range of commodity-related manufacturing and include a wide variety of materials such as sand, gravel, stone, and chemicals. Increasing focus on development of sustainable chemicals and materials, advancements in the development of smart materials such as nanocomposites and other advanced composites, and growing popularity of 3D printing have significantly contributed to revenue growth of the market. In addition, rising emphasis on green building and construction have increased use of renewable resources and this is also a key factor driving market growth.

Key companies are engaged in developing advanced materials having robust characteristics and forming strategic alliances such as mergers and acquisitions, joint ventures, collaborations, and product launches among others to gain a robust footing in the market. The competitive landscape section offers a comprehensive analysis of the competitive landscape along with profiles of the companies, their product portfolios, and lucrative business strategies undertaken by them.

The report further segments the Aeronautical Titanium market based on product types, applications, technology, end-use, and region, among others. The report also offers insights into key factors influencing the revenue growth of each segment and sub-segment along with market revenue share and CAGR.

To know more about the report, visit @ https://www.reportsanddata.com/report-detail/aeronautical-titanium-market

Material Type Outlook
Commercially Pure Titanium
Titanium Alloys

Application Outlook
Structural Airframes
Engines
Others

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Regional Analysis Covers:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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