The global Aerospace Forging market is forecasted to grow at a rate of 7.5% during the period 2020-2027. The market under study had a value of USD 4.51 billion in 2019 and is forecasted to reach USD 7.89 billion in 2027.
Some of the most common forged components used within aircraft include connectors, valves, swashplates, propeller hubs, engine mount, compressor rings, gear blanks, spinners and these components are primarily forged with the help of aluminum, stainless steel, titanium, carbon steel, among others. The aerospace components are manufactured on the basis of its applicability. The increasing number of modern advanced aircraft is driving both the aerospace and the forging sector.
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The increasing number of air traffic is compelling aviation companies to include newer aircraft under their wings, and as the manufacturing of aircrafts increases, the industry under study experiences heavy growth. The aviation companies are trying to increase production capacities and trying to improvise their manufacturing processes, which demands the use of improved forged components. Emerging economies around the world and superpowers are trying to strengthen their defense sector and are investing heavily in buying technologically advanced aircraft. The manufacturing of these aircraft with special features and designs requires the forging process to undergo modifications and creates opportunities in the forging sector. Amidst such rapid changes emerging in the market, limitations of the cold forging process are slowing down the sector to a certain extent. Apart from that, strict government regulations for the aerospace market and concerns regarding environmental hazards arising out of the forging process is forming barriers for the growth of the sector.
Top Key Players:
Key participants include 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., and Victoria Drop Forgings Co. Ltd.
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Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented into the Aerospace Forging market on the basis of material type, aircraft type, application, and region:
Material Type Outlook (Revenue, USD Billion; 2020-2027)
Aircraft Type Outlook (Revenue, USD Billion; 2020-2027)
Application Outlook (Revenue, USD Billion; 2020-2027)
Regional Outlook (Revenue, USD Billion; 2020-2027)
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2027
Chapter 3. Indicative Metrics
Chapter 4. Aerospace Forging Market Segmentation & Impact Analysis
4.1. Aerospace Forging Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Rising demand for modern aircraft in military aviation
4.2.2.2. Increasing air traffic
4.2.2.3. Demand for recyclable material for forging of aerospace components
4.2.3. Market restraints analysis
4.2.3.1. Drawbacks of cold forging
4.2.3.2. Strict government regulations for aerospace market
4.2.3.3. Concern regarding environmental hazards
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
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