Marine economy has become one of the important pillars of global economic development. However, the high temperature, humidity, salt mist, and intense radiation in the South China Sea cause severe corrosion of marine engineering materials and equipment in service. Titanium alloys, with their low density, high specific strength, and excellent corrosion resistance, are the preferred materials for marine engineering equipment. However, the high application costs severely restrict their widespread application. Reducing the application costs of titanium in marine environments has become a key focus for the development of marine titanium alloys. This article reviewed the progress of low-cost titanium applications both in China and abroad, focusing on two aspects of low-cost extraction and reduced usage of titanium. It analyzed three low-cost titanium extraction technologies: the FFC process, the OS process, and the USTB process. The article also outlined three approaches for reducing titanium usage: titanium-steel thermomechanical composites, high-energy beam preparation of titanium alloy coatings, and titanium-steel ultrasonic composites. It envisioned a development model for the large-scale and low-cost application of marine titanium alloys and offered targeted suggestions for advancing basic research, conducting product application studies, strengthening talent cultivation and recruitment, and enhancing industry, university, and research collaboration and technology transfer, so as to promote the overall enhancement and high-quality development of China’s marine titanium alloy industry.