<p>In this paper, the current-assisted hot stamping process of high-temperature titanium alloy is used to prevent the limited formability caused by the temperature loss during the transfer. The forming experiment and simulation of the regular cross-section component of the TA32 high-temperature titanium alloy missile shell were carried out at 780–940&#xa0;℃. First, the effect of forming temperature and heating rate on the forming accuracy, microstructure evolution, and component strength of TA32 were studied. Second, a plane stress visco-plastic model of TA32 was successfully implemented into the finite element (FE) model using a VUMAT subroutine, combined with the traditional FE; the difference in simulation accuracy of TA32 forming components under two FE analyses was analyzed. The results show that the increased forming temperature and slow heating rate can promote the β phase transition and reduce the flow stress and dimensional deviation of the components. However, the decreasing hardening due to the low dislocation density leads to a decrease in thickness uniformity. Through comparison, it is found that the subroutine FE simulation results have better prediction accuracy than that of the traditional FE simulation, and the simulation accuracy of the average thickness distributions and dimensional deviation is improved by 25.1% and 43.7%, respectively. The results of this research provide guidance on matching forming temperature and heating rate for the TA32 components while ensuring high forming an accuracy and efficient production cycle.</p>