Production slowdowns contributed to inventory buildup within the aerospace supply chain, though not uniformly across all materials; more aluminum was stockpiled than titanium or nickel. Lead times for steel remained long, especially for specialty grades, and supply disruptions for certain steel grades continued to occur.
Concerns about constrained supply of titanium due to Russia-Ukraine conflict seemed to have lessened.
Two major acquisitions reshaped the aerospace raw materials landscape in 2024. Acerinox, a Spanish stainless steel giant, acquired Haynes, a US manufacturer of specialty nickel-based alloys. Separately, Aperam, a European-based producer of stainless, electrical, and specialty steel, announced its intention to acquire Universal Stainless, a US-based aerospace supplier of stainless steel. Both acquisitions provided the acquiring companies with a stronger US presence and increased exposure to the aerospace market.
Supply chain challenges persisted throughout 2024. Boeing continued to receive product from much of the supply chain during the strike and post-strike production stand down. Airbus ordered (and continues to order) at a faster pace than they are building. Overall, aircraft production schedules remain unharmonized.
