In the aircraft manufacturing industry, the metals used are mainly steel, aluminum, and titanium. They all have specific properties, which make them an ideal candidate for their usage in the aerospace industry.
If we talk of titanium specifically, then it is used for its excellent properties like high corrosion resistance, temperature resistance, and strength. It is used in the exterior of the aircraft as well as in the engine. You can find titanium usage in the wings and landing gear of the plane and fan blades and pumps in the engine. Since this metal is very expensive, a lot of titanium scraps are used in the aerospace industry. Players like Metalliage are full-time involved in processing and converting this scrap into the required form.
Titanium Scraps Cost Much Lesser
Due to the high cost of titanium, the metal is not used extensively in the aircraft, though it helps a lot to keep the plane lightweight. The titanium scrap, however, brings down the cost a little and is used in fabricating parts like seat tracks, crown bulkhead chord, wing spar, fuselage chords, and door frame.
Growing Titanium Scrap Market
The aircraft manufacturers are focused to reduce the weight and improve the fuel efficiency of the aircraft. Thus, they have augmented the use of various titanium alloys in its structure. According to an estimate, the size of the global titanium scrap market in aerospace alone accounts for 80,000 MTs.
The future of titanium looks promising and secured in the aerospace sector with opportunities coming in not only from commercial aircraft but also military aircraft, helicopters, and general aviation. It is expected that in the next 12 years titanium will increase at the rate of 3.6% CAGR to touch $5.4 billion by 2030. This is because the aerospace industry is expanding, thus instigating the need for new aircraft.
Increase in the Demand for Aircraft
The Boeing has forecasted in some of its business conferences that by 2033 there will be a demand for another 36,770 airplanes. In airbus projects, there would be a requirement for approximately 29,000 passenger planes and freighters. In such a scenario, it is but natural that the demand for titanium scraps will be up too as it is an important construction metal for the planes. This surging aerospace manufacturing has further boosted this titanium scrap market.
Titanium, which is as strong as steel but 45% lighter, is the most sought-after metal in the aerospace industry.