Ocean View, DE -- (SBWire) -- 06/23/2020 --Titanium sponge for aerospace & defense market share has been witnessing a sharp uptick in the recent years owing to an increased emphasis on enhancing the fuel efficiency and lower the weight of military and commercial aircrafts. At the same time, it has been observed that numerous companies have been focusing on building technologically advanced facilities to manufacture environment friendly titanium sponge which has consequentially benefited the overall business space. Citing an instance that affirms this declaration, a group of private firms operating in titanium sponge for aerospace & defense industry have recently unveiled the first production facility in Europe that recycles aeronautical-grade titanium.
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Ti sponge has witnessed robust demand from commercial aircraft giants such as Airbus and Boeing. Commercial aircraft segment held over 60% of global titanium sponge for aerospace & defense market share during 2017 and will continue its dominance over the projected timeframe.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
Tangshan Tianhe, Zunyi, ZTMC, Shuangrui Wanji, VSMPO AVISMA, Solikamsk, OSAKA, UKTMP JSC, The Kerala Minerals & Metals Ltd., Toho Titanium, and Timet
Product application largely depends on the quality of the material sourced from scrap. Easy availability of the material in the form of scrap at comparatively lower costs is anticipated to fuel the business growth. The product finds widespread use in fire walls, armor plating & missile, landing gear, naval ships and helicopters.
Incorporation of higher concentration of Ti sponge in aircrafts offers several operational advantages such as enhanced fuel-efficiency, performance and low aviation cost. These factors will certainly provide favorable opportunities for titanium sponge providers for aerospace & defense applications.
U.S. titanium sponge for aerospace & defense market will witness a healthy growth over 2018-2024. Presence of major aerospace players in the U.S. is expected to drive the regional demand. Ti sponge is extensively used in naval ship hulls, armor plating and ammunition. Military aircrafts will account for majority of the product demand.
Military aircrafts segment will record a robust 5.6% CAGR over the analysis period. This can be attributed to extensive application of these aircrafts in surveillance, reconnaissance, and aerial warfare and providing supplies to remote areas during military operations. Strong demand for Ti sponge for application in airframes to boost the aircraft efficiency will foster the business growth.
In terms of the regional outlook, Asia Pacific, led by China, Japan, and India dominates global titanium sponge for aerospace & defense market share. The region is anticipated to continue its prominence in the coming years mainly due to the presence of large-scale aircraft manufacturing facilities in Japan and China. These countries are responsible for majority of overall Ti sponge exports.
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According to the U.S. Geological Survey import statistics, Japan accounted for more than 78% of the total imports during from 2013 to 2016. Presence of prominent aircraft players such as Boeing and Lockheed Martin will likely continue to be major drivers for titanium sponge for aerospace & defense market players as they hold a notable share in both civil as well as military aircraft industries.
Some Points From Table Of Content: -
Chapter 4. Titanium Sponge For Aerospace & Defense Market, By Material Type
4.1. Global titanium sponge for aerospace & defense market share by material type, 2017 & 2024
4.2. High-grade
4.2.1. Global market estimates and forecasts, 2013 – 2024
4.2.2. Market estimates and forecast, by region, 2013 – 2024
4.3. Medium-grade
4.3.1. Global market estimates and forecasts, 2013 – 2024
4.3.2. Market estimates and forecast, by region, 2013 – 2024
4.4. Low-grade
4.4.1. Global market estimates and forecasts, 2013 – 2024
4.4.2. Market estimates and forecast, by region, 2013 – 2024
Chapter 5. Titanium Sponge For Aerospace & Defense Market, By End Use
5.1. Global titanium sponge for aerospace & defense market share by end use, 2017 & 2024
5.2. Commercial Aircraft
5.2.1. Global market estimates and forecasts, 2013 – 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.2.2.1. Airframes
5.2.2.1.1. Global market estimates and forecasts, 2013 – 2024
5.2.2.1.2. Market estimates and forecast, by region, 2013 – 2024
5.2.2.2. Engine Parts
5.3. Military Aircraft
5.3.2.2. Engine Parts
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Titanium Sponge for Aerospace & Defense Market Revenue Analysis by Major Players Tangshan Tianhe, OSAKA, UKTMP JSC, the Kerala Minerals & Metals Ltd., Toho Titanium
Titanium sponge for aerospace & defense market share has been witnessing a sharp uptick in the recent years owing to an increased emphasis on enhancing the fuel efficiency and lower the weight of military and commercial aircrafts.