Titanium sponge for aerospace & defense market growth is driven by extensive product application in reconnaissance, surveillance, and aerial warfare. Titanium sponge for aerospace & defense Market Size – USD 1.55 Billion in 2019, Growth - CAGR of 4.1%, Trends – Growing product demand from the aerospace & defense sector

New York, NY -- (SBWire) -- 01/18/2021 --The Global Titanium Sponge for Aerospace & Defense Market size is forecast to exceed USD 2.15 Billion in terms of revenue from USD 1.55 Billion in 2019, delivering a CAGR of 4.1% through 2027. Market growth is driven by extensive product application in reconnaissance, surveillance, and aerial warfare.

Titanium sponge is a porous and brittle material. It is obtained by Kroll process on raw titanium ore. The product offers various beneficial properties like high strength-to-weight ratio, excellent elasticity, low electrical & thermal conductivity and is a key corrosion-resistant structural metal used as a base for alloys, titanium billets, ingots, and others.

Polymer matrix composite compatibility is stimulating the redesigning of aircraft due to the increasing usage of composites for aircraft structures. Titanium is experiencing high demand as it is compatible with carbon fibers in the Polymer matrix composite, unlike carbon, aluminum, and low alloy steels that produce high galvanic potential. Apart from this, the material also exhibit properties like resistance to fire, lightweight, corrosion & shock, low maintenance cost, recyclability, and biocompatibility.

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Growing demand for titanium sponge for the making of fuselage frame, seat rails, doorframes, floor beam, turbines, engine mounts, and other such components is expected to supplement the market revenue share in the analysis period. Increased emphasis on enhancing the performance of military and commercial aircraft by reducing the overall weight and augmenting fuel efficiency will boost titanium sponge for aerospace & defense industry growth through 2027.

Further key findings from the report suggest

· The Global Titanium Sponge for Aerospace & Defense Market size is forecast to exceed USD 2.15 Billion in terms of revenue from USD 1.55 Billion in 2019, delivering a CAGR of 4.1% through 2027. Market growth is driven by extensive product application in reconnaissance, surveillance, and aerial warfare.

· Titanium sponge is an important material used in the production process and fabrication of various components further utilized in the aerospace & defense industry.

· On the basis of category, the high-grade sub-segment accounted for a revenue close to USD 0.46 billion in 2018 and is projected to exceed USD 0.66 billion at a notable growth rate of 4.3% over the projected timeframe.

· High grade with high aluminium content is primarily used in applications, such as engine parts and aircraft fuselage.

· On the basis of application, the military aircraft sub-segment is forecast to witness the highest growth rate of 4.4% during the analysis period.

· In the regional landscape, the Asia Pacific region is estimated to showcase the highest growth rate of 4.2% over the projected timeframe. Growing product demand from economies, including China, India, and Japan, will boost regional industry growth.

· Key players in the Titanium Sponge for Aerospace & Defense Market are Tangshan Tianhe, ZTMC, Zunyi, Shuangrui Wanji, Solikamsk, VSMPO AVISMA, OSAKA, The Kerala Minerals & Metals Ltd., UKTMP JSC, TIMET, BAOJI TITANIUM INDUSTRY CO., LTD., and Toho Titanium, among others.

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For the purpose of this report, the Global Titanium Sponge for Aerospace & Defense Market has been segmented on the basis of category, technology, application, and region:

Category Outlook (Revenue, USD Billion; 2017-2027)

· High Grade

· Medium Grade

· Low Grade

Technology Outlook (Revenue, USD Billion; 2017-2027)

· Purification

· Reduction

· Process automation and data logging

· Ejection

Application Outlook (Revenue, USD Billion; 2017-2027)

· Commercial Aircraft

· Military Aircraft

· Naval Ship

· Armor Plating and Missile

· Others

Regional Outlook (Revenue, USD Billion; 2017-2027)

· North America

· Europe

· Asia Pacific

· Latin America

· Middle East & Africa

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Table Of Content:

Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique

Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Titanium Sponge for Aerospace & Defense Market Segmentation & Impact Analysis
4.1. Titanium Sponge for Aerospace & Defense Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing demand for material with low weight, high tensile strength, and high corrosion resistance for aerospace industry
4.2.2.2. Increasing emphasis on products with improved strength and durability
4.2.2.3. Increasing number of commercial aircraft
4.2.3. Market restraints analysis
4.2.3.1. Availability of substitute product
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis

Content…

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