Aircraft Isothermal Forging Market: Report Highlights the Competitive Scenario with Impact of Drivers And Challenges 2028

The Aircraft Isothermal Forging Market size is projected to reach US$ 2,041.55 million by 2028 from US$ 1,226.38 million in 2021; it is expected to grow at a CAGR of 7.7% from 2022 to 2028.

The aircraft isothermal forging market is experiencing growth, owing to the increasing preference for titanium instead of steel fabricated parts in aircraft. In the past, steel fabricated parts were commonly used by aircraft component manufacturers, which resulted in increased weight of the aircraft models. This, in turn, led to reduced fuel efficiency and higher carbon emissions. As a solution, manufacturers are turning to titanium as a lightweight substitute for steel in various aerospace applications.

For instance, Airbus was able to reduce the weight of their aircraft by 400 kg by replacing steel bearings with lightweight titanium bearings. These factors are driving the growth of the aircraft isothermal forging market. Furthermore, the Research and Development Organization (DRDO) in India developed a high-strength beta titanium alloy containing aluminum, vanadium, and iron using isothermal forging techniques, which can be used in fighter jet engines. Such initiatives are contributing to the growth of the aircraft isothermal forging market.

Get Exclusive Sample PDF @: https://www.premiummarketinsights.com/sample/TIP00044257?utm_source=OpenPr&utm_medium=10640
(Kindly Use Corporate Mail ID To Get More Details)

The List of Companies -
1. Alcoa Corporation
2. ALD Vacuum Technologies
3. Allegheny Technologies Incorporated
4. H.C. Starck GmbH
5. Howmet Aerospace
6. Leistritz Turbinentechnik GmbH
7. Nanshan Forge Company
8. Precision Castparts Corp
9. Schuler AG
10. SMT Limited

The aerospace industry in the US is the largest in the world and dominates the aircraft isothermal forging market in North America due to the presence of aircraft manufacturers and a rising number of advanced airplanes. The country also boasts the largest defense budget globally, with a significant portion of it allocated to the procurement and adoption of upgraded fighter planes, further fueling the growth of the aircraft isothermal forging market. For instance, in 2021, Boeing delivered a considerable number of multirole fighters, aerial refueling aircraft, and maritime patrol aircraft manufactured in the US.

In Canada, the demand for isothermally forged turboprop and turboshaft engine parts for new aircraft models and maintenance, repair, and overhaul (MRO) of existing aircraft fleets is driving the aircraft isothermal forging market. Air Canada's announcement of adding 26 new Airbus aircraft models to its current fleet in March 2022 is expected to further boost the market's growth in the country. In Europe, the development of advanced military fighter jets and high defense budgets for the production of aircraft, helicopters, and fighter jets, supported by government initiatives, are significant factors contributing to the growth of the aircraft isothermal forging market size in European countries.

Get full Report Description, TOC, Table of Figure, Chart, etc. @: https://www.premiummarketinsights.com/reports-tip/aircraft-isothermal-forging-market

The global aircraft isothermal forging market is being fueled by the increasing number of applications for isothermally forged parts in aircraft manufacturing. This is due to the need for aircraft manufacturers to reduce weight, which has resulted in the wide-scale adoption of isothermally forged titanium alloy parts in various applications across the industry. These applications include airframes, engine parts, compressor discs, compressor blades, fans, and shafts. The use of isothermally forged titanium alloys such as Ti-6Al-4V, Ti-10V-2Fe-3Al, and Ti-5AI-2Sn-2Zr-4Cr-4Mo has become increasingly popular in the manufacturing of aircraft landing gear and structural components. In addition, isothermal forging of titanium alloy has important applications in manufacturing turbo-machinery components such as buckets, blades, couplings, discs, manifolds, rings, chambers, wheels, and shafts for jet turbine engines. These components are stronger than conventionally forged ones. The aircraft isothermal forging market is also driven by the increasing use of isothermally forged titanium alloy components among aircraft OEMs and MRO service providers.

Impact of COVID-19 Pandemic on Aircraft Isothermal Forging Market
The COVID-19 pandemic had a severe impact on multiple industries, including aerospace, defense, military, and manufacturing, from which they are still recovering. The temporary suspension of operations at production facilities in the aerospace industry and aircraft manufacturing sector has negatively affected the procurement of aircraft isothermal forgings. The global aircraft manufacturing sector was affected by lockdowns, which disrupted supply chains and logistics due to the complete or partial cessation of manufacturing operations in many countries. The pandemic was the primary cause of supply chain disruptions, production losses, and reduced revenues for numerous businesses worldwide.

The aerospace industry has been one of the hardest-hit sectors globally since the COVID-19 outbreak in 2020. The aircraft isothermal forging industry players were particularly affected since they had to shut down their workforces to prevent the spread of COVID-19, directly impacting the market. Companies in this market had to make difficult decisions to survive during and after the pandemic. As a result of the severe impact on these companies, the aircraft isothermal forging market was negatively affected.

Buy this research report at @: https://www.premiummarketinsights.com/buy/TIP00044257?utm_source=OpenPr&utm_medium=10640


During the forecast period, the aircraft isothermal forging market in the US is expected to maintain its strong growth prospects. Several market players, including Bula Forge & Machine, Coulter Forge Technology, General Dynamics Ordnance and Tactical Systems, Precision Castparts Corp., Scot Forge, and Aichi Forge USA Inc., operate in the country, contributing to its market revenue. With the world's largest defense budget, the US allocates a significant portion to procuring and implementing advanced fighter planes, leading to a surge in demand for aircraft isothermal forging. In 2021, Boeing announced the delivery of several military aircraft, such as F/A-18 Hornet/Super Hornet multirole fighters, KC-46 Pegasus aerial refueling aircraft, and P-8 Poseidon maritime patrol aircraft, manufactured in the US.

The production of military assets, including the F-22, F/A-18, C-17, F-35, and UH-60 Black Hawk helicopter, necessitates a large amount of isothermally forged titanium. Consequently, aircraft manufacturers are increasingly utilizing isothermal forging to manufacture aircraft engines and airframe components, driving the growth of the aircraft isothermal forging market in the US. Additionally, the increasing use of isothermally forged titanium and nickel alloys for helicopter production in the US is boosting market growth.

The Asia Pacific aircraft isothermal forging market is expected to experience significant growth due to various factors such as the rising number of aircraft fleets, increasing spending on military aircraft, and the growing population and economy of the region. The adoption of isothermally forged titanium and nickel-based aircraft components is also expected to drive the market. According to Airbus, Asia Pacific will require over 17,000 new passenger and freighter aircraft, with a focus on more fuel-efficient models. This will lead to an increased demand for isothermal forging services in the region.

The COVID-19 pandemic had a negative impact on the domestic and international air passenger traffic in the region, but it has been on the rise since the last quarter of 2021, driving the demand for commercial, civil, and military aircraft fleets. The rising military spending in the Asia Pacific region, as reported by SIPRI, is also expected to drive the demand for aircraft isothermal forging services for new aircraft manufacturing and maintenance, repair, and overhaul activities. In 2019, the Indian Air Force issued a tender to acquire 114 Multi-Role Fighter Aircraft (MRFA), which will further increase the demand for isothermally forged components. These factors are expected to drive the growth of the aircraft isothermal forging market in Asia Pacific during the forecast period.

TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Landscape
4.1 Market Overview
4.2 Porter's Five Force Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat of Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Key Industry Dynamics
Continued…

Contact Us:
If you have any queries about this report or if you would like further information, please
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email: sales@premiummarketinsights.com

About Us:
Premium Market Insights is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost-effective research reports and solutions from various publishers.
The market research industry has changed in last decade. As corporate focus has shifted to niche markets and emerging countries, a number of publishers have stepped in to fulfil these information needs. We have experienced and trained staff that helps you navigate different options and lets you choose best research solution at most effective cost.
Premium Market Insights has an extensive coverage of industry reports, company reports and country reports across all industries. In case your research needs are not met by syndicated reports offered by leading publishers, we can help you by offering a customized research solution by liaising with different research agencies saving your valuable time and money.
We provide best in class customer service and our customer support team is always available to help you on your research queries. Our commitment to customer service is best exemplified by free analyst support that we offer to our clients which sets us apart from any other provider. We also offer enterprise subscriptions which provide significant cost savings to our clients.

This release was published on openPR.