NASA's Glenn Research Centre in Cleveland and Fort Wayne Metals are developing shape memory alloy material technology for cutting-edge rover tires that could aid the agency's Artemis moon exploration ambitions. Previously, the two companies worked together to develop highly engineered Nitinol materials for a variety of aerospace applications, including the usage of these materials in the prototype spring tires for Mars rovers. The two organizations are currently working together to produce the first Nitinol materials for a variety of lunar applications as well as research the expected operating conditions on the moon.
Following agreements agreed between the parties on October 25, 2021 and subsequently formalized, SAES Getters S.p.A. disclosed the completion of the acquisition of the additional 51% of the share capital of SAES RIAL Vacuum S.r.l., of which SAES already holds 49%.
Author Credits: Smruti Ranjan, Rajrani Baghel
Report ID: 5145
Published Date: Aug 10, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The major factors driving the growth of the market are rising demand for automotive, growing application of shape memory alloys in robotics, and rising deployment of shape memory alloys in fire alarm.
The market size of shape memory alloys is anticipated to attain a CAGR of 13% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Dynalloy, Inc., Fort Wayne Metals, SAES Getters S.p.A., Nitinol Devices & Components and others.
The nitinol segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.