Aircraft Engine Forging Market Predicted By Top Players Like VSMPO-AVISMA, Precision Castparts, Otto Fuchs KG, Farinia Group, Doncasters Group, All Metals & Forge Group

The global aircraft engine forging market accounted to US$ 3.30 Bn in 2018 and is expected to grow at a CAGR of 6.9% during the forecast period 2019 - 2027, to account to US$ 5.93 Bn by 2027.

Geographically, the aircraft engine forging market is segmented into North America, Asia pacific (APAC), Europe, MEA, and SAM regions. North America leads the aircraft engine forging market in 2018 with a significant market share and is anticipated to continue its dominance in the coming years. North America would continue to generate relatively greater profit, contributing to the growth of the global airline industry. Huge volumes of commercial and military fleets in operations in the domestic, as well as international arena coupled with a high average passenger mile flown value in the region, propel the requirements for aircraft components. Presence of the world’s largest aerospace manufacturing companies and a significant forging industry impac.t on the aircraft engine forging market in North America.

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Global Aircraft Engine Forging Market - Company Profiles

All Metals & Forge Group
Allegheny Technologies Incorporated
Doncasters Group Ltd
Farinia Group
LISI Group
Otto Fuchs KG
Pacific Forge Incorporated
Precision Castparts Corp
Safran S.A.
VSMPO-AVISMA Corporation

The Asia Pacific is the second-largest market in the aircraft engine forging market. Apart from North America and APAC, Europe remains at the third-largest geographic segment in the aircraft engine forging market. The aero engine manufacturing business is extremely competitive, and commercial triumph relies on constant improvements in engine efficiency, with lower operating costs and reduced environmental impact. With recent advances in materials technologies for aero engine components with particular reference to enhancing the fatigue life of the turbine components, combustion chamber and rotors are expected to drive the aero engine components forging business considerably. All the aforesaid factors would help to boost the business of aircraft engine forging market.

Nickel-based superalloys is growing owing to higher creep and temperature resistance

The turbine entry temperature (TET) should be increased by developing superalloys which show their excellent heat-resistant properties. The conventional superalloys for the gas turbine inlet would be cobalt and nickel-based. The outstanding mechanical properties such as high strength, long fatigue life with good resistance oxidation and corrosion at high temperature of nickel based superalloys are the main reason to apply them to the engine turbine blades. Thus, nickel superalloy based forged parts is expected to be the main driving factor of the aircraft engine forging market.

Adoption of recyclable material for the forging of aerospace components

With a continuous increase in air travel, the number of airplanes is rising substantially to fulfill the increasing demand of consumers. However, nearly 400 to 600 commercial aircraft in a current scenario are retired, aging, and disassembled each year, which results in creating a heap of waste. This trend is anticipated to provide prosperous opportunities to the market to grow in the region. In America and Europe, the business of recycling provides huge opportunities to both aircraft manufacturer and aerospace forging companies. Thus, use of recycled materials is expected to provide huge opportunities for aircraft forging and related companies such as aircraft engine manufacturers. Therefore, this factor will positively impact the growth of aircraft engine forging market.

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Strategic Insights

Some of the market Initiatives were observed to be most adopted strategy in the global aircraft engine forging market. Few of the recent market initiatives are listed below:

2019: OTTO FUCHS KF ordered a 30,000 ton closed-die forging press from Schuler Group in order to manufacture aircraft engine discs, landing gear, and structural parts, and other components. The new MH-30000 hydraulic forging press system is expected to be able to achieve large slide strokes for long components, thus, providing Otto Fuchs with an expanded range of possible products.

2018: LISI Aerospace developed “hot dies” forging technology at its Forges de Bologne plant. This new concept helps to maintain the productivity of conventional forging while achieving a metallurgical quality close to that of isothermal forgings i.e. forging installation operating at 1,250/1,300°C, mainly in terms of microstructure homogeneity and external health of the parts.

2018: ATI plans to invest US$ 95 Mn to inflate capacity of its iso-thermal forging and heat treating in Cudahy, WI. By expanding the capacity, the company is able to fulfill growing demand of aerospace jet engine.

2017: VSMPO-AVISMA Corporation announced the expansion of strategic partnership with Airbus. According to this new contract VSMPO-AVISMA will provide machined die forgings of different geometry for pylon and landing gear fastening structure for the A350-900.

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