The International Titanium Association (ITA) is optimistic that the titanium industry is up to the challenges presented by recent aircraft demand forecasts by Airbus and Boeing. Airbus, with an outlook that runs through the year 2032, projects that “air traffic will grow at 4.7% annually, requiring over 29,000 new passenger aircraft and freighter deliveries at a value of nearly $4.4 trillion.” Boeing predicts demand for 36,770 new airplanes valued at $5.2 trillion through the year 2033. The differing forecasts are largely the result of definitional differences, but Henry Seiner, vice president of business strategy for Titanium Metals Corp. (TIMET) and chair of ITA’s aerospace committee, says that recent industry trends toward vertical integration and consolidation will likely have a positive impact on the titanium industry’s supply chain to cover the demand.
ITA Responds to Forecasts from Airbus, Boeing
October 7, 2014