Abstract
Shape memory alloys are classified as smart materials due to their ability to recover their original shape when subjected to stimuli like thermomechanical or magnetic variations. The applications of shape memory alloys have widened in the last decade due to their performance characteristics. The progress made in shape memory alloys are often attributed to the in-depth research activity being carried out in this field. This chapter explores the properties of shape memory alloys that makes them suitable for various sectors like the aerospace industry, biomedical industry, construction industry and the automotive industry. Factors impeding the advancement of these materials were equally discussed. This chapter further highlights the future commercial prospects of shape memory alloys.
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