Of the near-net shape processes developed for material input and machining for titanium alloy part production, powder metallurgy exhibits the widest range of process variations and potential applications in airframe and aeropropulsion systems. This paper presents an overview of titanium powder metallurgy, including both advantages and drawbacks of current powder production and consolidation methods. The cost and physical property differences projected for the future between conventionally fabricated parts and P/M processed components is discussed.