Download

Download eBook for Free

Full Document

FormatFile SizeNotes
PDF file 0.7 MB

Use Adobe Acrobat Reader version 10 or higher for the best experience.

Summary Only

FormatFile SizeNotes
PDF file 0.2 MB

Use Adobe Acrobat Reader version 10 or higher for the best experience.

Purchase

Purchase Print Copy

 FormatList Price Price
Add to Cart Paperback154 pages $26.00 $20.80 20% Web Discount

Titanium accounts for a significant portion of the structural weight of many aircraft. Its high strength-to-weight ratio, high strength at high temperatures, corrosion resistance, and thermal stability make it ideal for airframe structures. However, in recent years a combination of multiple factors has caused a major spike in titanium prices that is expected to significantly influence the acquisition costs of future aircraft. This monograph examines the titanium industrial base, titanium production technology, and the factors underlying price fluctuations in the titanium market to assess their implications for the production cost of future airframes. The authors also suggest how the Department of Defense might mitigate the economic risks involved in the titanium market and reduce the cost of raw materials used in military airframes. In contrast with existing studies, which mainly focus on aircraft demand cycles in analyzing titanium price fluctuations, the monograph highlights the role of supply-side drivers, China's impact on the titanium market through cross-market substitution effect, the significance of industrial demand, and the increase in spot market transactions.

Table of Contents

  • Chapter One

    Introduction

  • Chapter Two

    Titanium Processing

  • Chapter Three

    The Titanium Industrial Base and Other Market Characteristics

  • Chapter Four

    Supply-Side Drivers of Titanium Price Fluctuations

  • Chapter Five

    Demand-Side Drivers of Titanium Price Fluctuations

  • Chapter Six

    Market Prospects and Emerging Technologies

  • Chapter Seven

    Conclusions and Policy Implications

  • Appendix A

    Aircraft Included in the Titanium Demand Calculation and Data Sources

  • Appendix B

    Questionnaire to Industry Experts

  • Appendix C

    Supply- and Demand-Side Conditions Resulting in the Recent Titanium Market Turmoil

Research conducted by

The research described in this report was sponsored by the United States Air Force and conducted by RAND Project AIR FORCE.

This report is part of the RAND Corporation monograph series. RAND monographs present major research findings that address the challenges facing the public and private sectors. All RAND monographs undergo rigorous peer review to ensure high standards for research quality and objectivity.

Permission is given to duplicate this electronic document for personal use only, as long as it is unaltered and complete. Copies may not be duplicated for commercial purposes. Unauthorized posting of RAND PDFs to a non-RAND Web site is prohibited. RAND PDFs are protected under copyright law. For information on reprint and linking permissions, please visit the RAND Permissions page.

The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.