Aircraft Isothermal Forging Market Demand, Survey, Forecast 2028

According to the new research report published by The Insight Partners, titled "Aircraft Isothermal Forging Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Aircraft Components, Forging Material, and Fit Type," the market is expected to grow from US$ 1,226.38 million in 2021 to US$ 2,041.55 million by 2028; it is anticipated to grow at a CAGR of 7.7% from 2022 to 2028.

The aircraft component manufacturers have relied on steel fabricated parts that increased the overall weight of the aircraft models. The heavyweight reduces fuel efficiency and increases carbon emissions. Thus, aircraft component manufacturers are adopting titanium as a lightweight substitute for steel. Preference for titanium over steel materials is increasing in various applications in the aerospace industry. For instance, almost every Airbus aircraft had ~2,772 steel bearings that increased the aircraft's overall weight. Hence, Airbus looked for a lightweight alternative for steel bearings. As a result, steel bearings were replaced with titanium bearings that helped Airbus reduce the aircraft's overall weight by 400 kg. Moreover, in July 2021, Research and Development Organization (DRDO) in India developed an isothermally forged high-strength beta titanium alloy containing aluminum, vanadium, and iron that can be used in fighter jet engines. Titanium parts have replaced steel parts in the manufacturing of aircraft components that are propelling the adoption of isothermal forging across the aerospace industry. Thus, the increasing preference for titanium over steel fabricated parts is augmenting the aircraft isothermal forging market size over the forecast period.

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The aircraft isothermal forging market analysis is segmented on the basis of aircraft components, forging material, and fit type. Based on aircraft components, the market is segmented into fan blades, turbine disks, shafts, and connector rings. By forging material, the aircraft isothermal forging market is segmented into titanium and nickel-based superalloys. Based on fit type, the market is segmented into line fit and retrofit.

Precision Castparts Corp, ATI, AVIC, SCHULER GROUP, and Leistritz Turbinentechnik GmbH are among the key players profiled during the study on the aircraft isothermal forging market analysis. In addition, several other important market players were studied and analyzed during the course of this market research study to get a holistic view of the market and its ecosystem. The aircraft isothermal forging market report provides detailed market insights, which helps the key players strategize the growth.

The impact of the COVID-19 pandemic on various industries, such as military, defense, aerospace, and manufacturing, has been severe. Several government bodies invested a substantial amount in supporting the aerospace industry despite experiencing economic disruptions. These industries are trying to recover from the damage the pandemic caused in the past few years. During the initial months of the pandemic, the supply chain in the North American aircraft isothermal forging market was obstructed. A decline in production was also observed. Moreover, there were disruptions in supply chains of raw materials. Also, various orders placed by the customers and contractors were delayed or canceled, which resulted in revenue loss among key market players. The aerospace sector was one of the worst-hit sectors due to the pandemic. According to an EU report, the demand for aircraft and aerospace products decreased by 43% in 2020. Airlines have been struggling to recover from it ever since. Experts predict the global market will recover at a moderate rate in the post-COVID-19 pandemic recovery period, which is anticipated to drive the growth of the aircraft isothermal forging market during the forecast period.

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Get More Related Link-
https://www.marketwatch.com/press-release/airport-runway-fod-detection-systems-market-analysis-by-size-share-industry-perspective-comprehensive-analysis-and-growth-and-forecast-2020-2027-2022-11-10?mod=search_headline

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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