Aerospace and Defense Metal Stamping Market Worth $33.6 billion by 2027 at a CAGR of 4.6% from 2020 to 2027

Aerospace and Defense Metal Stamping Market by Component (Housings and Enclosures, Assemblies, Brackets, Clips, Cylinders, Electrodes, Fasteners, Relays), Process (Embossing, Flanging), and Material (Aluminium, Steel) - Global Forecast to 2027

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The aerospace and defense metal stamping market is expected to reach $33.6 billion by 2027, at a CAGR of 4.6% during the forecast period of 2020 to 2027.

Rising demand for commercial aircraft, growing demand for fighter jets with growing security concerns across the globe, increasing demand for high-quality precision components, rising investments in metal stamping facilities, and rising technological advancements are some of the key factors driving the growth of the aerospace and defense metal stamping market. In addition, emerging Asia-Pacific and Latin American economies are expected to create lucrative growth opportunities for players operating in this market.

Impact of Covid-19 on Aerospace and Defense Metal Stamping Market

COVID-19 pandemic has adversely hit many economies around the globe. The pandemic has affected more than 100 countries infecting more than 7,759,691 people and killing 430,127 as of 14th June 2020 (Source: European Centre for Disease Prevention and Control). As a measure to control the spread of this disease and avoid related severe consequences, governments across the globe have announced partial or complete lockdown, which has majorly impacted many manufacturing and service industries, including aviation. Due to the impact of COVID-19, the aviation industry’s value chain, including the aviation service industry, sharply reduced passengers traveling by air. This has reduced aircraft orders and declined the demand for aircraft components and metal stamping. The detailed impact on each of these aviation industry segments is as follows:

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Key Findings in the Global Aerospace and Defense Metal Stamping Market Study:

Clips/connectors/fasteners to dominate the overall aerospace and defense metal stamping market in 2020

Based on component, the clips/connectors/fasteners segment is estimated to command the largest share of the overall aerospace and defense metal stamping market in 2020. The largest share and the fastest growth of the clips/connectors/fasteners segment is mainly due to the rising demand for aircrafts across the globe and growing adoption of a variety of clips, connectors, and fasteners for the assembly and connection of various joint structures during aircraft manufacturing and aftermarket care of old airline fleets.

Communication devices application to grow with the fastest CAGR during the forecast period

Based on application, the communication devices application segment is expected to grow with the fastest CAGR during the forecast period. The fast growth of this segment is primarily attributed to the rising number of passengers traveling by planes, a growing number of airports, and the rising adoption of broadband-based wireless data connectivity of aircraft to airports.

Commercial & civil aircraft sector to dominate the overall market in 2020

Based on sector, the commercial & civil aircraft sector is estimated to command the largest share of the overall aerospace and defense metal stamping market in 2020. The largest share of this segment is mainly attributed to the rising demand for the next-generation commercial aircraft over the old aircraft to meet the regulatory standards on maintenance & safety and achieve fuel-efficiency, large demand for metal stamped parts for the construction of civil & commercial aircraft, and the accelerated equipment replacement cycles.

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Bending process segment to grow with the fastest CAGR during the forecast period

Based on the process, the bending process segment is expected to grow with the fastest CAGR during the forecast period. The fast growth of this segment is primarily attributed to its wide application in the aircraft industry due to its stability and durability and its ability to produces a wide range of custom sheet-metal products.

Aluminum segment to dominate the overall aerospace and defense metal stamping market in 2020

Based on material, the aluminum material segment is estimated to command the largest share of the overall aerospace and defense metal stamping market in 2020. The large share of this market is mainly attributed to the major factors such as its higher adoption in aerospace manufacturing with its easy processing and high availability, lightweight nature, high strength to weight ratio, and relatively low cost.

Asia-Pacific: The fastest growing regional market

At regional level, the aerospace and defense metal stamping market is estimated to be dominated by the North America in 2020, while, Asia Pacific is expected to grow at the fastest CAGR during the forecast period. The fast growth of this market is mainly attributed to the significantly growing demand for new aircraft fleets with increasing number of passengers traveling by air and rising investments in new air stations. Moreover, the factors such as rising government investments to support the growth of the aerospace & defense sector, rising focus of key manufacturers & related vendors in the value chain, and shift in manufacturing from North America & Europe to this region are further supporting the growth of the Asia-Pacific market.

Key Players

The aerospace & defense metal stamping market is highly fragmented with the presence of many small private vendors in the market. Some of the key players operating in the global aerospace and defense metal stamping market are American Industrial Company (U.S.), Keats Manufacturing Company (U.S.), Wiegel Tool Works Inc. (U.S.), Hudson Technologies (U.S.), K S Tooling Inc. (U.S.), AAA Tool and Machine Co. (U.S.), Pacific Metal Stampings Inc. (U.S.), Tempco Manufacturing Company, Inc. (U.S.), D&H Industries Inc. (U.S.), Klesk Metal Stamping Co. (U.S.), Clow Stamping Company (U.S.), ACRO Metal Stamping Co. (U.S.), National Die Company Inc. (U.S.), Henan Kathysia Industrial Co, Ltd., (China), Kölle GmbH (Germany), Forgeavia (France), and Weiss-Aug Co., Inc. (U.S.), among others.

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This release was published on openPR.