Aircraft Engine Forging Market Forecasts to 2028 – Global Analysis By Material Type (Titanium Alloys, Nickel Alloys), Application (Turbine Disc, Fan Case, Rotor, Combustion Chamber Outer Case), and By Geography
According to Stratistics MRC, the Global Aircraft Engine Forging Market is accounted for $3,805.52 million in 2020 and is expected to reach $7,638.56 million by 2028 growing at a CAGR of 9.1% during the forecast period. The higher production capacities of aircraft with a continuous rise in air traffic, innovation through advanced materials, and huge demand for air travel in terms of both militaries as well as commercial aircraft are driving the market growth. However, cyclic changes occurring near commercial aircraft may hamper the market growth.
Aircraft engine forging is the manufacturing process that involves the shaping of metal with the use of localized compressive forces. The procedure of forging aerospace components consists of metalworking and machining techniques such as broaching, hot forging, sawing, drilling, threading, grinding, brazing, and welding. The diverse processes are used for the fabrication of an aircraft engine that includes heat treating, electroplating, isothermal, metal finishing, and others. Around 15,000-18,000 forged components and parts are used within a single airplane. The forged products augment the efficiency of the engines, landing gears, aerostructures, and ultimately, the entire aircraft.
Based on the forging type, closed die forging segment is going to have lucrative growth during the forecast period, as it is suitable for small critical parts with safety consideration due to its high precision. The closed die forgings are used for the production of small products such as forged fittings, forged automotive parts, forged lifting & rigging hardware, and other. Automotive, oilfield, aerospace, mining, and forestry & agriculture are some of the industries which uses this forging technique heavily.
By geography, North America region is expected to have considerable market growth during the forecast period, owing to the rise in passenger traffic in the North American countries and the availability of well-established aircraft manufacturers, huge capital, and high profitability margin of aerospace has contributed towards the growth of the entire aviation industry.
Some of the key players in Aircraft Engine Forging Market include Precision Castparts Corporation, Doncasters Group Ltd., OTTO FUCHS KG, Allegheny Technologies Incorporated, All Metals & Forge Group, Safran S.A., Farinia Group, VSMPO-AVISMA Corporation, LISI Group, and Pacific Forge Incorporated.
Material Types Covered:
• Titanium Alloys
• Nickel Alloys
Forging Types Covered:
• Seamless Rolled Ring Forging
• Closed Die Forging
• Open Die Forging
• Turbine Disc
• Fan Case
• Combustion Chamber Outer Case
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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