Aerospace Forging Market Trends, Industry Growth, Outlook, By 2027

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Aerospace Forging Market to 2027 - Global Analysis and Forecasts by Material Type (Titanium, Stainless Steel, Aluminum Alloy, and Others); Aircraft Type (Fixed Wing and Rotary Wing); Application (Rotors, Turbine Disc, Shafts, Fan Case, and Others)

Publication Month: Jul 2019 | Report Code: TIPTE100001130 | No. of Pages: 155 | Category: Aerospace and Defense | Status: Published

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.

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.

Lucrative Regional Aerospace Forging Markets

Lucrative Regional Aerospace Forging Markets

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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.

Strategic Insights

Report Coverage - Aerospace Forging Market
Report CoverageDetails
Market Size Value inUS$ 4,206.1 Million in 2018
Market Size Value byUS$ 7,924.1 Million by 2027
Growth rateCAGR of 7.5% from 2019-2027
Forecast Period2019-2027
Base Year2019
No. of Pages155
No. of Tables74
No. of Charts & Figures65
Historical data availableYes
Segments coveredMaterial Type ; Aircraft Type ; Application
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.

  • In 2019, Schuler is awarded with a contract from Otto Fuchs to supply 30,000-ton closed-die forging press. The presses are used to produce engine discs and aircraft landing gear.
  • In 2019, Mettis Aerospace has received a contract from an engine manufacturer to provide forged components for the new generation engine. These components would be integrated in the single-aisle aircraft. The company is entitle to manufacture aluminium gearbox casings and steel gear.
  • In 2018, Pratt & Whitney, Division of United Technologies Corp has introduced C5 press. It is a new isothermal vacuum forge press revealed by the company’s Columbus Forge Disks business area. The new mechanism would be used in the production of compressor rotors and turbine disks for the engines of Pratt & Whitney.

The global aerospace forging market has been segmented as follows:

Aerospace Forging Market – By Material Type

  • Titanium
  • Stainless Steel
  • Aluminum Alloy
  • Others

Aerospace Forging Market – By Aircraft Type

  • Fixed Wing
  • Rotary Wing

Aerospace Forging Market – By Application

  • Rotors
  • Turbine Disc
  • Shafts
  • Fan Case
  • Others

Aerospace Forging Market- By Region

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Turkey
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Rest of APAC
  • Middle East and Africa (MEA)

    • South Africa
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Rest of SAM

Aerospace Forging Market – Companies Profiles

  • 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.

The List of Companies

  1. Arconic Inc.
  2. All Metals & Forge Group
  3. Bharat Forge Limited
  4. Consolidated Industries, Inc.
  5. Farinia Group
  6. Fountaintown Forge, Inc.
  7. Mettis Aerospace
  8. Pacific Forge Incorporated
  9. Somers Forge Ltd
  10. Victoria Drop Forgings Co. Ltd.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global aerospace forging market.

  • Highlights key business priorities in order to assist companies to realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the global in aerospace forging market, thereby allowing players across the value chain to develop effective long-term strategies.

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.
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