Titanium is an attractive choice for many applications due to its high specific strength, fracture behavior and corrosion resistance. However, high cost compared to competing materials often negates use except when it is the only viable choice. This paper will identify the reasons for the high cost of titanium components, both from an extraction and fabrication perspective, and discuss recent developments which are leading to a reduction in cost. Examples of specific titanium components, drawn from the automotive and aerospace arenas, which can be produced cost-effectively will be presented.