Titanium Sponge for Aerospace and Defense Market Size, Share, Trend, Forecast, & Industry Analysis: 2022-2028
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Titanium Sponge for Aerospace and Defense Market Size, Share, Trend, Forecast, & Industry Analysis: 2022-2028
Titanium Sponge for Aerospace and Defense Market, By Material (High Grade, Medium Grade, Low Grade), By End Use (Commercial Aircraft, Military Aircraft), and Region - COVID-19 Impact Analysis and Forecast to 2028.
Titanium Sponge for Aerospace and Defense Market, By Material (High Grade, Medium Grade, Low Grade), By End Use (Commercial Aircraft, Military Aircraft), and Region - COVID-19 Impact Analysis and Forecast to 2028.
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The Titanium Sponge for Aerospace and Defense Market is projected to grow from USD 1756.23 million in 2021 to USD 2377.38 million by 2028 at a CAGR of over 4.35% during the forecast period of 2022-2028.
What is titanium sponge?
Titanium alloys exhibit excellent corrosion resistance and high strength to weight ratio which finds widespread usage in the aerospace & defense sector. Titanium sponge is referred to as a porous form of titanium, which is obtained during the refining of titanium ore. It is a product of the Kroll process, in which the titanium ore is converted to titanium tetrachloride and then it is reduced by magnesium or sodium.
Market Drivers
Rising material requirement with low weight, high tensile strength, and superior corrosion resistance for improved durability & performance of the aircraft is likely to augment the market growth. Growing emphasis on enhancing the performance of commercial & military aircraft while reducing the total aircraft weight and improving the fuel efficiency further propels the product usage. However, the easy availability of low-cost substitutes in the form of scrap is likely to hamper the market growth during the review period.
COVID-19 Impact on Titanium Sponge for Aerospace and Defense Market
The COVID-19 pandemic has adversely affected the titanium sponge for the aerospace and defense industry as a result of the shutdown of the aerospace sector across the globe, due to a ban on international travel, postponement of aircraft deliveries, limited workforce, and social distancing norms. Moreover, supply chain disruption and restricted transportation further affected the market growth, amid the pandemic.
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Key Players
Key players operating in the titanium sponge for the aerospace and defense market are-
Allegheny Technologies Incorporated (US)
BAOJI TITANIUM INDUSTRY (China)
Luoyang Shuangrui Wanji Titanium Industry (China)
OSAKA Titanium (Japan)
Solikamsk (Russia)
Tangshan Tianhe Titanium Industry (China)
Timet (US)
Toho Titanium (Japan)
VSMPO AVISMA (Russia)
Zunyi Titanium (China)
Target Audience
Here is the list of the group of customers that the Titanium Sponge for Aerospace and Defense Market hopes to have the greatest opportunity to convert-
Titanium Sponge for Aerospace and Defense companies
Titanium Sponge for Aerospace and Defense distributors
Aerospace & military companies
Government organizations
Segments' Analysis
Material Trends
Based on material, the titanium sponge for the aerospace and defense market has been classified into high grade, medium grade, and low grade. Under these, the high-grade segment held the largest market share in 2021 and is likely to grow at a considered CAGR during the forecast period. High-grade titanium sponge has purity levels over 99.7%, which is regarded as an aerospace grade. The rising need to cater to the increasing demand for high-grade titanium in aviation & military sectors further bolsters the segment growth.
Regional Trends
By region, the North American market held a significant market share in 2021 and is projected to grow at a healthy CAGR in the coming years. This is mainly ascribed to a strong presence of aircraft manufacturers such as Boeing, Lockheed Martin, etc., and strong military expenditure. Also, stringent regulations on improving the fuel efficiency of commercial aircraft further proliferate the regional market growth in the coming years.
Market Segmentation
Report Feature
Market Segmentation
3
Regions Covered
5
Countries/Subregions Covered
16
Figures & Tables
>70
Company Profile
10
The market is segmented in the following ways:
By Material Type
High Grade
Medium Grade
Low Grade
By End Use Type
Commercial Aircraft
Military Aircraft
By Region:
North America
Europe
Asia-Pacific
Middle East & Africa
South America
Research Methodology
For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
The following are the key features of the report:
Market structure: Overview, industry life cycle analysis, supply chain analysis.
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
Market trend and forecast analysis.
Market segment trend and forecast.
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities.
Emerging trends.
Strategic growth opportunities for the existing and new players.
Key success factors.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to 3 players)
SWOT analysis of key players (up to 3 players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.
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Allegheny Technologies Incorporated (US), BAOJI TITANIUM INDUSTRY (China), Luoyang Shuangrui Wanji Titanium Industry (China), OSAKA Titanium (Japan), Solikamsk (Russia), Tang-shan Tianhe Titanium Industry (China), Timet (US), Toho Titanium (Japan), VSMPO AVISMA (Russia), and Zunyi Titanium (China) are among the key players in the titanium sponge for aerospace and defense market.
Titanium Sponge for Aerospace and Defense companies, Titanium Sponge for Aerospace and Defense distributors, Aerospace & military companies, Government organizations are the target audience in the titanium sponge for aerospace and defense market.