This study aims to assess the feasibility of expanding the powder size distribution (PSD) of Ti-6Al-4V grade 5 powder for LPBF to achieve cost reduction. Parameter optimization to minimize the degradation of mechanical properties due to the expanded particle size distribution was conducted. Mechanical tests for specimens built using optimized parameters revealed minor reductions in strength: 3.9% in tensile yield strength, 1.1% in compressive strength, 5.5% in shear strength, and 4.5% in bearing yield strength—all of which complied with MMPDS standards. Statistical analysis, using the Anderson–Darling test, demonstrated stable mechanical performance and minimal variation between the original and expanded PSDs. These results highlight the potential of an expanded PSD to achieve cost reductions while maintaining compliance with industry standards, offering a practical solution for LPBF applications in cost-sensitive and high-performance industries.