Press release
Key Trends Shaping the Future Aerospace Forging Market From 2025-2034: Global Aerospace Forging Market Trend: Strategic Partnerships Driving Innovation In Aircraft Forging Technology
Aerospace Forging Market
The aircraft forging market is anticipated to expand due to an increase in aircraft production. The construction of airplanes along with parts like propulsion systems, avionics, and other related equipment is referred to as aircraft production. Forged elements, being far sturdier and robust compared to bar stock and casting produced parts, are favored in a range of aerospace utilization. For instance, Airbus SE, an aerospace services, solutions, and products manufacturer and developer based in the Netherlands, as per an article published in January 2023, delivered 661 commercial aircraft to 84 clients in 2022. This was an 8% growth when compared to 2021. Therefore, the advancement in aircraft production is fueling the growth of the aircraft forging market.
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What is the future CAGR of the aerospace forging market, and how will it impact industry expansion?
The scale of the aerospace forging market has seen a significant surge in the past few years. The size is set to increase from $33.71 billion in 2024 to $36.32 billion in 2025 with a compound annual growth rate (CAGR) of 7.7%. The expansion during the historic period can be credited to military modernization initiatives, rigorous safety regulations, increasing focus on fuel efficacies, worldwide growth of air cargo services, and an increase in commercial air travel.
The market size of aerospace forging is projected to experience considerable expansion in the upcoming years. The market is anticipated to reach "$49.66 billion by 2029, with a compound annual growth rate (CAGR) of 8.1%. The predicted growth in this period can be linked to the increasing need for next-generation aircraft, a swift rise in unmanned aerial vehicles (UAVs), advancements in supersonic and hypersonic aircraft, and the globalization of aerospace supply chains. Key trends in the forecast period entail technological progress in forging processes, escalating demand for lightweight components, the emergence of additive manufacturing technologies, strict quality norms and certifications, and the emphasis on sustainable and eco-friendly practices.
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What are the most significant trends transforming the aerospace forging market today?
The aircraft forging market is witnessing strategic alliances from major industry players, leveraging their respective strengths and capabilities to cater to the growing needs of the aerospace sector. Such partnerships can potentially lead to the advent of new technologies and alloys, responding to the increasing demand in the aerospace industry for lighter, more robust, and heat-resistant materials and components. To illustrate, Jiuli, a steel company based in China, issued an acceptance approval to SMS group for a hydraulic radial forging line back in April 2023. The SMX 900/18 MN hydraulic radial forging machine delivered by the SMS group can exert a press force of 18 MN for each of its four press cylinders, which makes it well suited for manufacturing sophisticated aerospace components. The machine's hydraulic drive ensures that all significant forging parameters can be customized flexibly. An extreme forging force can be employed throughout the entire forging process. Furthermore, the horizontal forging machine SMI is an automatically operated, hydraulically driven 2-ram forging machine equipped with integrated manipulators and centering devices.
Which key market segments comprise the aerospace forging market and drive its revenue growth?
The aerospace forging market covered in this report is segmented -
1) By Material: Aluminum, Steel, Titanium, Other Materials
2) By Aircraft: Commercial, Military, Other Aircrafts
3) By Application: Rotors, Turbine Disc, Shafts, Fan Case, Other Applications
Subsegments:
1) By Aluminum: Aluminum Alloys, Heat-Treated Aluminum
2) By Steel: Carbon Steel, Alloy Steel, Stainless Steel
3) By Titanium: Titanium Alloys, Commercially Pure Titanium
4) By Other Materials: Nickel Alloys, Copper Alloys, Magnesium Alloys
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What regions are at the forefront of aerospace forging market expansion?
North America was the largest region in the aerospace forging market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global aerospace forging market report during the forecast period. The regions covered in the aerospace forging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the aerospace forging market?
Major companies operating in the aerospace forging market include Arconic Corporation, Bharat Forge Limited, Scot Forge Company, Larsen & Toubro Ltd., Jiangyin Hengrun Heavy Industries Co. Ltd. , Consolidated Industries Inc., Somers Forge Ltd, Pacific Forge Inc, Precision Castparts Corporation, Ellwood Group Inc, All Metals & Forge Group LLc, Farinia Group, Victoria Drop Forgings Ltd., Mettis Aerospace Limited, Berkshire Hathaway Inc., Eramet Group, Avic Heavy Machinery Co. Ltd., Fountaintown Forge Inc., GKN Aerospace service Limited, High Tech Metal Seals Inc., Sheffield Forgemasters International Ltd., Thyssenkrupp Aerospace, Weber Metals Inc., SIFCO Industries Inc., Doncasters Group Ltd., Howmet Aerospace Inc., PCC Forged Products, Alcoa Corporation, Carpenter Technology Corporation, Forged Solutions Group, Honsel Umformtechnik GmbH, LISI Aerospace SAS, Safran Forge America Inc.
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What Is Covered In The Aerospace Forging Global Market Report?
• Market Size Forecast: Examine the aerospace forging market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the aerospace forging market for a structured understanding.
• Key Players Overview: Analyze major players in the aerospace forging market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the aerospace forging market.
• Segment Contributions: Evaluate how different segments drive overall growth in the aerospace forging market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the aerospace forging market.
• Industry Challenges: Identify potential risks and obstacles affecting the aerospace forging market.
• Competitive Landscape: Review strategic developments in the aerospace forging market, including expansions, agreements, and new product launches.
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