Aircraft Open-Die Forging Market is Forecasted to Reach US$ 6.7 billion in 2028, Says Stratview Research

The global aircraft open-die forging market is projected to witness a growth rate of 6.8% annually from 2023 to 2028, with an anticipated size of US$ 6.7 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global aircraft open-die forging market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 6.7 billion
Growth (CAGR): 6.8% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 6
Number of Tables & Graphs: 100+

Segment Insights on the Aircraft Open-Die Forging Market:
The global aircraft open-die forging market is segmented based on aircraft type, application type, component size type, material type, end-user type, and region.

Based on aircraft type - We have segmented our market into commercial aircraft, regional aircraft, helicopters, military aircraft, and general aviation. Commercial aircraft is expected to be the dominant as well as the fastest-growing aircraft type in the market during the forecast period, propelled by factors such as increasing passenger traffic, the emergence of low-cost carriers, and the need for more efficient aircraft for domestic and international travel. One of the major factors propelling the growth of this segment is the increased focus of aircraft manufacturers on the production of narrow-body and wide-body aircraft. The military aircraft segment is also expected to show significant growth in the coming years, owing to increased military spending of countries to buy new and advanced aircraft..

Based on the application type - The aircraft open-die forging market is segmented into airframe and engine. Engine is expected to be the dominant application category for open/ring-die forging in the aerospace industry during the forecast period. It is also anticipated to be the fastest-growing segment of the market. With the global aviation industry's focus on reducing fuel consumption and emissions, there is a continuous drive for more efficient engines that can deliver better performance and meet stringent environmental regulations. In addition to that, the use of forged parts in aircraft engines offers advantages like superior strength, durability, enhanced performance, improved safety, design flexibility, material integrity, and cost efficiency.

Based on the material type - The market is segmented into nickel, titanium, stainless steel, aluminum, and others. Nickel is expected to maintain its dominance, whereas titanium is expected to be the fastest-growing material type during the forecast period. Titanium alloys have a high specific strength, so they are frequently used for the manufacture of various components in engines and airframes. Due to various advantages offered by titanium, such as lower weight, heat resistance, and corrosion resistance, its usage has now increased nearly two times in new variants of aircraft as compared to traditional ones. For instance, in B787, titanium alloys now account for ~15% of total structural components.

Based on the end-user type - The market is segmented into OE and aftermarket. Increasing production rates of key aircraft programs like the B737 and A320 families, along with the entry of new players like COMAC, are expected to make OE the dominant segment over the course of the projected period. Due to the expanding fleet of commercial aircraft and the rising need for advanced lightweight components, obsolete components are being replaced with advanced lightweight ones which will drive the demand at the aftermarket level.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/3519/aircraft-open-die-forging-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is likely to remain the most dominant region, whereas Asia-Pacific is expected to be the fastest-growing region in the long-term scenario. This growth outlook is majorly attributed to the following-
- The growth of Asia-Pacific can be attributed to factors such as increasing air travel demand, a rising middle-class population, expanding economies, growing tourism and business opportunities, and the opening of assembly plants of major OEMs in the region.
- Countries, such as China, India, Indonesia, and Vietnam, are the growth engines of the region.
- These countries are witnessing a surge in air travel demand, leading to increased aircraft production paired with an increased demand for open/ring-die forged components.

Aircraft Open-Die Forging Market Drivers:

Some of the key drivers listed in the report are given below.
- The rise in air passenger traffic due to the growing disposable income of developing countries.
- The increasing production rate of key aircraft programs, the demand for durable and high-performance components.
- Increasing the demand for forged components that can meet the quality and safety standards of the aviation industry.

Top Companies in the Aircraft Open-Die Forging Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• Precision Castparts Corp.
• Forgital Group
• 9ATI Inc.
• Doncasters Group
• Voestalpine BÖHLER Aerospace GmbH & Co KG
• Aubert & Duval SAS
• Otto Fuchs KG
• Howmet Aerospace

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Aircraft Open-Die Forging Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.