What’s driving the Aerospace Cold Forgings Market Growth? | Key Players are Vsmpo-Avisma, Arconic, Eramet Group, Precision Castparts, Scot Forge, Shaanxi Hongyuan Aviation Forging, Bharat Forge
Shifting trends toward adopting air travel owing to the proliferation of low-cost carriers along with the increasing use of aircraft for carrying cargo over long distances are supporting the aircraft cold forging market over the projected timeframe. Rising aircraft efficiency with proliferating passenger capacities in aircraft will propel aerospace cold forgings market growth over the study timeframe. According to the International Air Transport Association (IATA), in 2017, the widebody aircraft accounted for around 19% market from the total commercial fleet.
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3. Aerospace Cold Forging Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2025
3.3. Industry ecosystem analysis
3.3.1. Component Suppliers
3.3.3. Profit margin analysis
3.3.4. Distribution channel analysis
3.3.5. Vendor matrix
3.4. Technology Landscape
3.5. Regulatory landscape
3.5.1. North America
3.5.3. Asia Pacific
3.5.4. Latin America
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Increasing requirements for higher strength-to-mass ratio in aircraft and the rising importance for maintaining airplane structural dependability are accelerating the aerospace cold forgings market penetration over the study timeframe. Manufacturers are focused on enhancing dimensional tolerances and surface quality in aircraft landing gear manufacturing through cold forgings. The use of cold forgings in aircraft landing gear provides enhanced fuel economy and reduced airframe weight.
Innovations in the low-cost manufacturing process for cold forgings and stringent international aviation standards requirement in terms of design characteristics, application, and manufacturing processes through cold forgings will foster aerospace cold forgings market growth. For instance, the International Aerospace Quality Group and Federal Aviation Administration will regulate the cold forgings production process for aerospace applications. These standard guidelines enforce manufacturers to conform to definitive manufacturing processes, reducing material losses and enhancing the overall aircraft efficiency.
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The introduction of short-haul routes is influencing the demand for low-cost carriers, thereby fostering the aerospace cold forgings market over the projected timeframe. Further, proliferating long-distance travel and increasing tourism enable manufacturers to increase the aircraft efficiency with its compact design and advanced aircraft components.
Aircraft manufacturers are increasing aircraft deliveries across the globe to cater to increasing air passenger traffic growth. Rising defense budget across the region has led to higher demand for fighter jets, thereby escalating the aerospace cold forgings market share over the study timeframe
Prominent players in the aerospace cold forgings market place include Vsmpo-Avisma, Arconic, Eramet Group, Precision Castparts Corp, Scot Forge, Shaanxi Hongyuan Aviation Forging Co Ltd, Bharat Forge, and ATI Metal. Industry participants are entering into strategic mergers & acquisitions for improving their business share. For instance, in July 2018
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