Global aerospace titanium blisk market is expected to reach $4,945.4 million by 2023, according to P&S Intelligence.
Globally, aerospace industry is registering rise in demand for military as well as commercial aircrafts. Titanium blisks are used in aircraft engines or the gas turbines to compress the air for propulsion. The rise in sales of aircrafts supports the market growth. The aviation industry is one of the major contributors to the global economy. Commercial space pertaining to global aerospace industry is posting higher growth buoyed by robust passenger and cargo demand.
Insights on market segments
Based on application, the aerospace titanium blisk market is categorized into military, commercial, general aviation, and others, wherein “others” category includes experimental and model aircrafts. Commercial aerospace titanium blisk market accounted for largest market share in 2017. This can be attributed to rising passenger as well as cargo demand throughout the world. According to the International Air Transport Association (IATA), there was a significant growth in the number of scheduled passengers that boarded commercial airlines in the past decade; with 2,452 million passengers in 2007 to 4,093 million in 2017. This has led to growing demand for commercial aircrafts, which in turn, is pushing the demand for titanium blisk in commercial applications.
On the basis of diameter, the aerospace titanium blisk market is segmented into less than 70 cm, 70–80 cm, and 80–90 cm. The market for less than 70 cm diameter titanium blisk held the largest market share of over 55% in 2017. This can be attributed to the fact that less than 70 cm diameter blisk finds application in majority of commercial aircrafts as well as business jets. However, 80–90 cm titanium blisk category is expected to register the highest CAGR during the forecast period owing to rising application of this category in military as well as next generation aircrafts.
Browse report overview with 81 tables and 49 figures spread through 125 pages and detailed TOC on "Aerospace Titanium Blisk Market by Application (Military, Commercial, General Aviation), by Diameter (< 70 cm, 70–80 cm, 80–90 cm), by Geography (U.S., Canada, U.K., Germany, France, China, Japan, India, Brazil, Argentina, Saudi Arabia) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023" at:https://www.psmarketresearch.com/market-analysis/aerospace-titanium-blisk-market
Market is expected to witness the fastest growth rate during the forecast period in the Asia-Pacific (APAC) region
Based on region, North America held the largest share in the aerospace titanium blisk market in 2017, with revenue of $1,735.6 million. This is attributed to the high demand for business fleets in the region. In North America, aircraft fleet size of the business aviation market in 2017 stood at 24,297 units, with Europe at 3,894 and Asia at 2,701. However, APAC region is expected to witness the highest growth rate during the forecast period. This can be attributed to several factors such as increasing passenger traffic, cargo demand, as well as beefing-up of air forces by countries such as India and China.
Low weight and high strength of titanium based blisk is key growth driver
The use of a component in an aerospace application is usually driven by its weight. Titanium based blisk yields as much as 50% reduction in weight as compared to steel and nickel based super alloys. Moreover, titanium has an excellent strength-to-weight ratio as compared to steel and aluminum with a density of 4.5 g/cm3. The necessity for higher fuel efficiency is increasing, which is fueling the demand for high bypass ratio and propelling the need for low weight blisks which will compensate for the added weight due to higher bypass ratio.
Aerospace titanium blisk market competitiveness
Increasing awareness about advantages of titanium based blisks for aerospace industry applications, such as significant reduction in weight, greater resilience, and reduced maintenance in comparison to traditional bladed disk, has led to rise in the adoption of titanium blisks in aerospace industry, globally. Growing adoption has led to increase in competition in the aerospace titanium blisk market. Some of the key players in the market include, MTU Aero Engines AG, GKN plc, Rolls-Royce Holdings plc, and GE Aviation.
Global Aerospace Titanium Blisk Market Segmentation
Market Segmentation by Application
Market Segmentation by Diameter
Market Segmentation by Geography