On August 31, Howmet Aerospace Inc. fell 5.94% in regular trading, trading at $249.6/share, with turnover of $12.9522 million. The decline was triggered by Elon Musk confirming that SpaceX is building a gas turbine blade and vane casting facility in Bastrop, Texas, claiming in-house casting could accelerate gas turbine deployment timelines by up to 18 months.

Currently, only approximately four companies worldwide possess the mass-production technology for large gas turbine hot-section blades, with Howmet Aerospace Inc. and PCC collectively controlling over 70% of the market. A company executive disclosed earlier this month that Howmet holds over 50% global market share in industrial gas turbine blades alone. SpaceX's move signals that AI power infrastructure players are attempting to bypass the existing oligopolistic supply chain and directly enter this high-barrier segment, posing a potential challenge to Howmet's pricing power and order backlog advantage.

The stock had already dropped 4.7% in pre-market trading on the news. Within the Aerospace and Defense sector, peers also traded lower, with Rocket Lab USA down 1.75%, Boeing down 0.82%, GE Aerospace down 1.45%, RTX Corp down 0.84%, and L3Harris Technologies down 0.20%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)