One of the most dominant iron alloys in the world is steel. The reasons for its dominance are its strength, affordability, and ease of production. Over the course of time steel has replaced other iron alloys but it has not stopped there. Steel is still evolving along with new technologies and necessities. Scientists are discovering new concepts and new ways to make steel better, lighter, and stronger. They are trying to achieve a steel with these qualities by alloying steel with Titanium, a metal mostly used in the aerospace industry. The reason for all this effort is that normal steel is heavy. It is not useful for the construction of aircrafts and while it has been used to make automobiles for a long time, the large mass of steel has its effects on the fuel efficiency. On the other hand, there are various light-weight alloys available which have metals like aluminum and Titanium in large quantities raising their costs, hence making them economically unfeasible to make mass consumer goods.
Few years ago, material scientists at Pohang University of Science and Technology in South Korea invented a new type of light-weight, flexible, and ultra-strong titanium steel. This new alloy has a strength to weight ratio comparable to other hardest tempered Titanium alloys and at the same time, its cost plunges to one-tenth of those hardest tempered Titanium alloys, because it has significantly less amount of Titanium. This new alloy can be used in a variety of industries like aerospace, automobile, construction, etc.