Aircraft Isothermal Forging Market Size & Growth Forecast-2028

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Aircraft Isothermal Forging Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Aircraft Components (Fan Blades, Turbine Disks, Shafts, and Connector Rings), Forging Material (Titanium and Nickel-Based Superalloys), and Fit Type (Line Fit and Retrofit)

Publication Month: May 2022 | Report Code: TIPRE00015983 | No. of Pages: 163 | Category: Aerospace and Defense | Status: Published

The aircraft isothermal forging market is projected to reach US$ 2,041.55 million by 2028 from US$ 1,226.38 million in 2021; it is expected to grow at a CAGR of 7.7% from 2022 to 2028.

The global aircraft isothermal forging market analysis and market forecast, based on region, is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. In 2021, North America led the market with a substantial market share, followed by Europe. Further, Asia Pacific is expected to register the highest CAGR in the market during 2022–2028.

Geographic diversification across different North American countries is driving the aircraft isothermal forging market. Moreover, the presence of major aircraft and isothermal forging companies in the region, such as the Boeing (US), Airbus, Bombardier Inc. (Canada), Alcoa Corporation, ALD Vacuum Technologies North America, Inc., Allegheny Technologies Incorporated, and Precision Castparts Corp. is fueling the aircraft isothermal forging market size and market growth in the region. North America is leading the global market owing to the growing adoption of isothermal forging, rising technological advancements, and increasing expenditure toward aerospace technologies. A huge portion of the US defense budget is allocated to adopt and procure upgraded fighter planes, which is propelling the demand for aircraft components that are manufactured with the help of isothermal forging process in the country. Growing advancements in manufacturing technology and rising aircraft production are fueling the aircraft isothermal forging market growth.

Asia Pacific is expected to be the fastest growing region in the global aircraft isothermal forging market share during the market forecast period. This is owing to the rising demand for titanium and nickel-based aircraft and engine parts for the manufacturing and assembly of aircrafts in the region. Also, various aircraft OEM facilities, such as Boeing, Airbus, and COMAC, are located across countries, such as China. Moreover, the increasing development of titanium-based components for the manufacturing of military aircraft components in Asia Pacific is another major factor propelling the aircraft isothermal forging market growth in the region. For instance, in May 2021, DRDO (Defense Research Development Organization) announced that it has established the isothermal forging technology to produce all the five stages of high-pressure compressor [HPC] discs out of titanium alloy using its unique 2000 metric tons isothermal forge press.

The European Commission had funded the highly innovative isothermal forging of gamma titanium aluminide (TIAL) alloy for low-pressure turbine (LPT) blades. The isothermal forging process was found to be suitable for aerospace applications due to its low density and high strength at elevated temperatures. ATI has a manufacturing facility in Poland with isothermal forging capability that features three isothermal presses, including one of the world's largest isothermal presses, rated at 12,500 tons. It provides aircraft components, such as compressor disks, turbine discs, seals, shafts, and spools. Thus, the presence of isothermal forging companies delivering excellent forging technology is driving the aircraft isothermal forging market.

The North America aircraft isothermal forging market analysis is segmented into the US, Canada, and Mexico. The rising spending in the aerospace sector and demand for new and modern aircraft contribute to the market growth in the region. The presence of major players, such as Alcoa Corporation; ALD Vacuum Technologies North America, Inc.; Allegheny Technologies Incorporated; and Precision Castparts Corp. (Berkshire Hathway), is driving the aircraft isothermal forging market growth in the region. Moreover, these market players generate market revenue and largely contribute to the growth of the market size in North America.


Strategic Insights

Report Coverage - Aircraft Isothermal Forging Market
Report CoverageDetails
Market Size Value inUS$ 1,226.38 million in 2021
Market Size Value byUS$ 2,041.55 million by 2028
Growth rateCAGR of 7.7% from 2022 to 2028.
Forecast Period2022-2028
Base Year2022
No. of Pages163
No. of Tables85
No. of Charts & Figures76
Historical data availableYes
Segments coveredAircraft Components, Forging Material, and Fit Type
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
Free Sample Copy Available
– Aircraft Isothermal Forging Market

Impact of COVID-19 Pandemic on Aircraft Isothermal Forging Market

The impact of the COVID-19 pandemic on various industries, such as military, defense, aerospace, and manufacturing, has been devastating. These industries are still trying to recover from the damage the pandemic caused in the past few years. Due to the temporary halt across various production facilities in the aerospace industry and the aircraft manufacturing sector, the procurement of aircraft isothermal forgings has been negatively impacted. Lockdowns impacted the global aircraft manufacturing sector. They also disrupted supply chains and logistics, owing to complete or partial halting of manufacturing operations in various countries. The pandemic was the key reason for supply chain disruptions, loss of production, and declined revenue for several enterprises globally.

Since the beginning of the outbreak in 2020, the aerospace industry has been among the most severely hit sectors globally. Moreover, this outbreak put the aircraft isothermal forging industry players in the worst possible position since their workforces were shut down for safety and to prevent the spread of COVID-19, which directly impacted the aircraft isothermal forging market. Companies operating in this market had to make tough choices for sustaining during the pandemic and the post-pandemic recovery period. Since these companies were severely impacted, this further resulted in a negative impact on the aircraft isothermal forging market.

Lucrative Regions for Aircraft Isothermal Forging Market

Lucrative Regions for Aircraft Isothermal Forging Market

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Market Insights – Aircraft Isothermal Forging Market

North America leads in the adoption of isothermal forging, technological advancements, and expenditure on aerospace technologies. This is primarily driving the aircraft isothermal forging market size. Moreover, this region witnessed the growing use of aircraft isothermal forgings due to the presence of various aircraft manufacturing companies, such as Boeing, Northrop Grumman, Airbus North America, and Textron Inc. These companies engage themselves in manufacturing aircraft models with lightweight components produced using various forging and casting process. The demand for isothermal forging is growing substantially due to the benefits of the process. The increasing demand for new and advanced aircraft engines is also driving the aircraft isothermal forging market players businesses in the region. Moreover, the growing use of aircraft isothermal forging for manufacturing aircraft fan blades, turbine disks, shafts, and connector ringsin the US, Canada, and Mexico is boosting the market growth.  In February 2022, American Airlines announced that it has signed a deal with Boeing for an additional 30 Boeing 737 MAX 8 aircraft. Deliveries of these 30 additional planes will occur in 2023 and 2024 and take the carrier's overall MAX fleet, when deliveries complete, to 130 aircraft. Furthermore, aircraft isothermal forgings are also used for shaping titanium and nickel-based aircraft parts across the region. The increasing demand for aero-engine and airframe materials is also boosting the aircraft isothermal forging market growth. Therefore, these factors generate a significant amount of revenue, further contributing to the market growth in North America.

The Aircraft Isothermal Forging market is segmented byAircraft Components (Fan Blades, Turbine Disks, Shafts, and Connector Rings), Forging Material (Titanium and Nickel-Based Superalloys), and Fit Type (Line Fit and Retrofit). Based on region, the aircraft isothermal forging market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.

ALD Vacuum Technologies GmbH, ATI, H.C. Starck Solutions, Leistritz Turbinentechnik GmbH, Precision Castparts Corp, SCHULER GROUP, Alcoa Corporation, Howmet Aerospace, LISI Aerospace, and SMT Limited are among the players profiled during the study of the aircraft isothermal forging market.

The aircraft isothermal forging market players are mainly focused on the development of advanced and efficient products, mergers, and partnerships.

  • In 2019, Allegheny Technologies Inc., Pittsburgh, announced the signing of several new long-term contracts with GE Aviation to provide isothermal and hot-die forgings used in the production of commercial aircraft engines.
  • In 2019, The North American Furnace Sales and Service organizations of ALD Vacuum Technologies have merged, creating a single entity responsible for the marketing, sales, and service of the company's product lines, which comprise vacuum heat treatment furnaces, metallurgy furnaces, coatings, and hot isothermal forging equipment.

Frequently Asked Questions

The estimated global market size for the aircraft isothermal forging market in 2021 is US$ 1226.38 million
Increasing preference for titanium over steel fabricated parts
Increasing number of isothermal forged parts applications in aircraft manufacturing
Growing demand for titanium and nickel-based parts in military aircraft engine production
PCC, ATI, AVIC, Schuler, and Leistritz are the key market players holding the major market share of aircraft isothermal forging market
Asia Pacific is expected to register highest CAGR in the aircraft isothermal forging market during the forecast period
India, China, and South Korea are registering a high growth rate during the forecast period
Which country is holding the major market share of aircraft isothermal forging market?
The US is holding the major market share of aircraft isothermal forging market in 2021
Nickel-based segment is holding the major market share of aircraft isothermal forging market in 2021 superalloy
The global market size of aircraft isothermal forging market by 2028 will be US$ 2,041.55 million
The aircraft isothermal forging market is expected to register an incremental growth value of US$ 734.81 million during the forecast period

The List of Companies - Aircraft Isothermal Forging Market

  1. Alcoa Corporation
  2. ALD Vacuum Technologies
  3. Allegheny Technologies Incorporated
  4. H.C. Starck GmbH
  5. Howmet Aerospace
  6. Leistritz Turbinentechnik GmbH
  7. Nanshan Forge Company
  8. Precision Castparts Corp
  9. Schuler AG
  10. SMT Limited
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global aircraft isothermal 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 aircraft isothermal 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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