WSJ: Jet producers fail to replace Russian titanium
WASHINGTON, Aug 5 (PRIME) – The Western aircraft producers have failed to diversify their titanium imports and fear possible sanctions against Russia's VSMPO-Avisma, the Wall Street Journal reported on Friday,citing industry representatives.
According to the U.S. Geological Survey, before the coronavirus pandemic, Russia accounted for about 20% of global titanium output and was the third largest producer after China and Japan. Aircraft giants Boeing, Raytheon and General Electric tried to minimize the use of Russian titanium after 2014 with no real diversification achieved.
The Wall Street Journal reported citing Raytheon CEO Greg Hayes that some business jets producers will remain without engines in 2022 due to the current tensions between Russia and the Western countries.