The Aerospace Forging Market report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market. The report focuses on global major leading companies providing information such as company profiles, sales, sales revenue, market share and contact information. Finally the marketing, feasibility of new investment projects are assessed and overall research conclusions offered.
In terms of revenue, the global aerospace forging market was valued at US$ 4,206.1 million in 2018 and is projected to reach US$ 7,924.1 million by 2027; it is expected to grow at a CAGR of 7.5% during the forecast period from 2019 to 2027.
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The aerospace forging market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM. The rising aircraft production, both commercial and military aircraft has led the aerospace forging market players to witness tremendous demand for their products. The aerospace forging market consists of some well-established players across the globe, which invest huge amounts in order to deliver the most sophisticated products to their customers. The aircraft manufacturers on the other hand, are procuring the advanced technologies from the aircraft component manufacturers to deliver aircrafts integrated with enhanced technologies. With an objective to deliver advanced aircraft components, the engine manufacturers, landing gear manufacturers, and other component manufacturers are increasing inclining towards lightweight solutions using different materials. Also, the aircraft component manufacturers are constantly tending towards forged products for their components. This factor is catalyzing the aerospace forging market in the current scenario.
Some of the Major Market Players Are:
Arconic Inc., All Metals & Forge Group, Bharat Forge Limited, Consolidated Industries, Inc., Farinia Group, Fountaintown Forge, Inc., Mettis Aerospace, Pacific Forge Incorporated, Somers Forge Ltd, Victoria Drop Forgings Co. Ltd.
Market Insights–Aerospace Forging Market: –
Constantly Changing Aerospace Manufacturing Landscape:
In the current scenario, both forging and casting are used for metal shaping. However forging is cheaper than the later and also stronger, and offer better resistance properties. The aerospace forged components are usually made with titanium and aluminium alloys. The mentioned alloys are used to manufacture engine frames, structural components, and compressor sections where lightweight structures and greater strength is required. The titanium alloy is corrosion-resistant, high temperature resistant, and a low weight; whereas, aluminium alloys are ductile in nature, fatigue resistant, low density, and need low forging process which helps in saving energy. Due to their respective proficiencies, they are attracting huge attention of aircraft manufacturers and assisting the aerospace forging companies to cater to the needs of their clientele. All these make qualities makes forging as most opted technology, being cost-effective and stronger in nature, the technology adoption is growing gradually.
Material Type Segment Insights:
Based on material, the titanium dominated the global aerospace forging market in 2018. The forged titanium is ideal for aerospace, industrial, and naval sectors as this material is capable of enduring in intense situations. Products which are capable of being assembled through titanium forging includes both helicopters, aircraft, and other components.
Aircraft Type Segment Insights:
Based on aircraft type, the fixed wing segment dominated the global aerospace forging market in 2018. Commercial aviation is witnessing robust growth in terms of volume and revenue. This is anticipated to continue over the next decade, which showcases a surging demand for fixed-wing aircraft. Also, rise in orders and deliveries for fixed-wing aircraft is expected to generate significant market space for the forging players to supply a massive amount of forged aircraft parts worldwide.
Application Segment Insights:
Based on application, the others dominated the global aerospace forging market in 2018. Pertaining to the fact that, every component of landing gear (both main landing gear as well as nose landing gear) witnesses’ massive force during aircraft landing, the weight carrying capacity of the landing gear has to be significant.
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Aerospace Forging Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America
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