Transparency Market Research (TMR) provides key insights on the titanium sponge market for aerospace and defense in its latest report titled “Titanium Sponge Market for Aerospace and Defense: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, rising investments in defense equipment & infrastructure in North America is predicted to drive the titanium sponge market for aerospace and defense during the forecast period.
The report has segmented the titanium sponge market for aerospace and defense based on product type, application and region. In terms of product type, the titanium sponge market for aerospace and defense is split into soft sponge, mild sponge, and hard sponge. The titanium content in the three variants is different. Soft sponge contains 99.7%-99.8% of titanium, while mild sponge contains 99.5%-99.6% of titanium. Hard sponge contains 99.3%-99.4% of titanium. Soft sponge with high aluminum content is primarily employed in applications such as aircraft fuselage and engine parts. Soft sponge is a dominant segment of the titanium sponge market for aerospace and defense. The segment is expected to expand at a significant pace during the forecast period.
On the basis of regional perspective, North America followed by Europe are likely to dominate the titanium sponge market for aerospace and defense. The aviation industry in the U.S is one of the most technologically advanced industries. Around 60% of aircraft are produced in the U.S. Furthermore, the U.S. is equipped with the most technologically advanced warfare equipment in the world. The country invests significantly in infrastructure and equipment required for defense. Thus, the U.S. is one of the prominent consumers of titanium sponge.
The U.K. and France are among the major producers in the aviation industry. These countries are also among the key consumers of titanium sponge. Aircraft production, aviation, and defense industries in Asia Pacific are picking up pace; large numbers of aircraft manufacturers are shifting their production bases to countries such as Thailand, Indonesia, and Vietnam. Furthermore, the maintenance, repair, and overhauling market for the aviation industry is strong in ASEAN countries. The titanium sponge market for aerospace and defense in North America is anticipated to expand at a significant pace during the forecast period.
Prominent players operating in the global titanium sponge market for aerospace and defense are included in this report to give a better competitive landscape and these are OSAKA Titanium Technologies Co. Ltd., Chaoyang Jinda Titanium Industry Co., Ltd., and Shuangrui Wanji.
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