Aerospace special metals based on metal alloys have been developed and gained prominence as a result of their use in aerospace. It necessitates exceptional performance and heat resistance, even at the expense of production. Specialized alloys enable the aerospace industry to manufacture high-performance components such as jet engines and airframes. These components must withstand high pressure, intense heat, and temperature fluctuations that would otherwise stress ordinary metals to their breaking points. The increasing use of aluminum in aircraft internal fittings to reduce weight and fuel consumption is expected to boost the product demand. As per Business Research Insights, the global aerospace special metal market size is anticipated to exhibit a growth of 8.76% during the 2022-2027 period.
COVID-19 had an adverse effect on the market in 2020. During the pandemic, passenger air travel was temporarily halted during the lockdown, and people did not choose to travel frequently after the lockdown. According to the International Civil Aviation Organization (ICAO), the overall number of passengers fell globally as of April 2020 when compared to 2019. This had slowed the growth of the aerospace industry, which, in turn, had a negative impact on the market for aerospace special metal.
Business Research Insights Identifies the Following as the Top 5 Aerospace Special Metal Companies:
1. TIMET
Titanium Metals Corporation, or TIMET, is a shortened version of "TItanium METals," which is a registered company trademark. It is headquartered in Warrensville Heights, Ohio, and is an American manufacturer of titanium-based metal products that primarily serve the aerospace industry. Its main operations in the U.S. are based in Morgantown, Pennsylvania; Henderson, Nevada; Vallejo, California; and Toronto, Ohio. Its international operations are primarily based in the U.K. (Waunarlwydd and Witton) and France (in the village of Ugine).
TIMET signed a 10-year supply agreement with United Technologies Corp. (UTC) in September 2007. TIMET would supply titanium to UTC for commercial and military aircraft as well as aircraft engines under the terms of the agreement.
2. KUMZ
Kamensk-Uralsky Metallurgical Works J.S.Co. (KUMZ) is one of Kamensk-town-forming Uralsky's enterprises in Sverdlovsk Oblast, Russia. KUMZ was established specifically to supply semi-finished products made of aluminum and magnesium alloys to the aerospace industry. The plant currently manufactures aluminum alloy billets, forged and rolled plates, roll bond heat exchangers, extruded rods, bars, tubes, drill pipes, profiles, and die-forgings.
3. Arconic
Arconic Corporation is an American manufacturing and engineering firm that specializes in lightweight metals. Arconic's products are used in a variety of industries around the world, including aerospace, commercial transportation, automotive, building and construction, oil & gas, defense, packaging, consumer electronics, and industrial applications.
4. Novelis
Novelis is built on an extraordinary heritage of innovation that began in 1888 with the establishment of Alcoa. Since the days of the Wright Brothers and Henry Ford, Novelis helped shape the aerospace, automotive, and building & construction industries. Following the successful separation from Alcoa's bauxite, alumina, and aluminum product units in November 2016, Novelis was launched as a global leader in multi-material, precision-engineered products, and solutions for high-growth markets. At present, it helps transform how we fly, drive, and build through innovation.
5. Haynes International, Inc.
Haynes International, Inc., based in Kokomo, Indiana is a leading manufacturer of corrosion-resistant and high-temperature alloys. Haynes also has manufacturing facilities in Arcadia, Louisiana; and Mountain Home, North Carolina, in addition to Kokomo. The Kokomo location specializes in flat products, the Arcadia location specializes in tubular products, and the Mountain Home location specializes in wire products. In the fiscal year 2018, the aerospace (52.1%), chemical processing (18.2%), industrial gas turbine (12.0%), and other (12.3%) industries contributed to the company's revenues. The alloys produced by the company are primarily marketed under the Hastelloy and Haynes brands. They are nickel-based but also contain cobalt, chromium, molybdenum, tungsten, iron, silicon, manganese, carbon, aluminum, and/or titanium.
Aerospace special metals can resist high temperatures and corrosion, which makes them an ideal choice for constructing aircraft devices. Additionally, these metals are employed in turbines and several essential elements of an aircraft.