Tata Steel Ltd.

Tata Steel, the world's No. 7 steelmaker, would boost aerospace steel production in Europe by 30 percent in an attempt to win a bigger share of a fast-growing market. Tata Steel's European branch, the second-largest steelmaker in Europe would invest 6.5 million pounds ($10.4 billion) to start two new vacuum arc re-melting furnaces due to begin production of aerospace steels in early 2012. The investment comes at a time when worries about global economic growth and concerns over the sovereign debt crisis in Europe are weakening demand for basic steel grades, hitting steelmakers' margins and forcing producers, including Tata, to cut output.

Special steel demand from the aerospace industry has been growing dramatically in the last few months, however, and is expected to continue increasing as airlines continue to buy planes and need to retool to meet emissions standards.