Naw it isn't that easy. You can't really develop a new element like Tony Stark.
Think about it a material that can survive falling from the sky dropping from thousands of feet? That impact still is going to be crazy and can kill anyone INSIDE the plane. The plane will be find but the people inside still gonna be messed up.
They can use titanium but like I said the plane will be super heavy and could not be financially sound for commercial flight.
It couldn't fly for long distance cause it would burn too much fuel and it couldn't hold that many passengers and the cost per passenger would be way more than the costs now.