At the recent International Titanium Association (ITA) conference in Austin, Texas, delegates discussed trends in demand for titanium materials over the next decade. According to Marty Pike, president of ATI's Specialty Materials Division, demand for titanium for aerospace engine applications is expected to continue to climb at a compound annual growth rate of 10.5% over the next five years.
Aerospace: Driven by both engine and spare parts demand. Demand for titanium in the aerospace industry will continue to grow as aircraft manufacturers plan to increase productivity and invest more in maintenance, repair and overhaul services for passenger aircraft. Currently, Airbus and Boeing have a backlog of aircraft orders totaling 14,054 through 2034.The increased production of CFM International's LEAP engine and Pratt & Whitney's geared turbofan engines, which represent a new generation of engines, are the main drivers of titanium demand. These engines have created a market for not only standard quality titanium, but also significant opportunities for premium titanium materials.
In engine applications, titanium is primarily used in compressor disks and blades, low-pressure turbine blades, fan blades, fasteners and certain housing components. Normal maintenance cycles for current generation engines have been accelerated as OEMs are faced with higher levels of warranty work and regular maintenance repair tasks, while legacy engine programs require additional parts. This has resulted in spare parts accounting for an increasing share of total material requirements for new engine production, which historically has been about 25% of total material requirements, but this may increase to 30-50% in the future.
Defense sector: dual driver of increased military spending and technological innovation. In the defense sector, increased military spending will further boost titanium consumption in defense applications due to continued geopolitical pressures and technological innovations that leverage titanium's strengths. Global military spending has increased for the ninth consecutive year to reach $2.44 trillion in 2023. Record defense investment growth is expected to continue as the conflict in Ukraine continues and tensions escalate in Asia, the Middle East and the Indo-Pacific.
Industry experts say most of the titanium demand will come from fighter jet production, which is set to increase next year. Additionally, unmanned aircraft and tank manufacturing, as well as other military applications, will be new growth areas for titanium demand. Lightweight requirements and stealth capabilities have put titanium in a strong position for jet fighter and drone programs. the F-35 Joint Strike Fighter, the defense program with the highest titanium content in production, contains 20% titanium per jet, further demonstrating the importance of titanium in the defense arena.
In summary, in the next decade, titanium materials will usher in a broader development prospect under the dual drive of the aerospace and defense fields.
