Aircraft Forging Market to Reach USD 32.5 Billion by 2032, says Stratview Research

The Aircraft Forging Market was valued at USD 23.6 billion in 2024 and is projected to reach USD 32.5 billion by 2032, growing at a CAGR of 3.7% during the forecast period of 2025-2032. The market reflects steady expansion driven by increasing demand for high-strength aerospace components.
The most critical growth driver is the rising global aircraft production. Increasing aircraft deliveries are structurally driving demand for forged components, as modern aircraft require hundreds of safety-critical forged parts across engines, landing gear, and structural systems.
"Growth in aircraft production directly ensures sustained and non-substitutable demand for forged aerospace components across global supply chains."

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The report offers a detailed analysis of market dynamics, including demand trends, supply chain developments, and technological advancements. It covers seven key segmentation categories and evaluates their strategic impact across regions and applications. The study provides critical insights for OEMs, suppliers, and investors to align with long-term aerospace manufacturing growth.

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Market Statistics
• Market size: USD 23.6 billion (2024)
• Forecast value: USD 32.5 billion (2032)
• CAGR: 3.7%
• Forecast period: 2025-2032
• Base year: 2024
• Total number of segments: 7
• Tables & figures: 100+
• Country-Level Market Assessment: 20

Market Segmentation
Aircraft Type
Commercial Aircraft
Regional Aircraft
Helicopter
Military Aircraft
General Aviation

Process Type
Open/Ring-Die Forging
Closed-Die Forging

Application Type
Engine
Airframe

Component Size Process Type
Small Components
Large Components

Material Type
Nickel
Titanium
Stainless Steel
Aluminum
Others

End-User Type
OE
Aftermarket

Region
North America (Country Analysis: The USA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Segment Analysis
Commercial aircraft is expected to remain the dominant segment by aircraft type, driven by increasing passenger traffic, fleet modernization, and rising production rates of major aircraft programs. Higher aircraft deliveries directly increase the consumption of forged components across structural and engine systems, reinforcing long-term supplier contracts.

Closed-die forging dominates the process type segment and is also the fastest-growing due to its ability to produce high-strength, precision components with minimal material waste. The improved mechanical properties achieved through grain alignment make it highly suitable for demanding aerospace applications, encouraging manufacturers to adopt this process at scale.

The engine segment is the largest demand generator within application type due to the critical performance requirements of aircraft engines. Continuous advancements in turbofan engine technology and increasing engine production volumes drive sustained demand for high-performance forged components used in compressor disks, turbine disks, and shafts.

Small components are expected to be the fastest-growing segment by component size due to their extensive use across multiple aircraft systems. The increasing complexity of aircraft design and higher production volumes result in a surge in demand for smaller forged parts, prompting suppliers to enhance manufacturing efficiency and scalability.

Nickel remains the dominant material type due to its high-temperature resistance, strength, and corrosion resistance, making it indispensable for engine and structural applications. Titanium is expected to grow at a faster pace due to its lightweight properties and increasing adoption in modern aircraft structures, supporting fuel efficiency goals.

OE is the dominant end-user segment, driven by increasing aircraft production rates and new aircraft programs. The aftermarket is expected to be the fastest-growing segment due to rising maintenance, repair, and overhaul activities as the global aircraft fleet expands, creating recurring demand for replacement forged components.

Regional Insights
North America is expected to remain the dominant region due to the presence of major aircraft OEMs and engine manufacturers. Strong manufacturing infrastructure and close supplier integration enable efficient production of forged components, ensuring consistent demand across aerospace programs.
Asia-Pacific is projected to be the fastest-growing region, driven by expanding aerospace manufacturing capabilities and increasing investments in domestic aircraft production. The development of regional aircraft programs and supply chains is accelerating demand for forged components across emerging economies.

Market Drivers
• Increasing aircraft production globally, driven by OEM forecasts of over 43,000 aircraft deliveries, directly boosting demand for forged components.
• Rising production of advanced turbofan engines by major manufacturers, increasing the need for high-performance forged engine parts.
• Growing use of large structural forgings in landing gear and airframe systems due to higher aircraft load requirements.
• Expansion of aerospace manufacturing in Asia-Pacific, supported by government investments and regional aircraft programs.
• Increasing adoption of titanium and high-performance alloys, enhancing demand for specialized aerospace forging processes.

Top Companies in the Market
Precision Castparts Corp.
AVIC Heavy Machinery Co., Ltd.
Howmet Aerospace
ATI Inc.
Voestalpine AG

FAQs
1. What is the current size and future outlook of the Aircraft Forging Market?
The market was valued at USD 23.6 billion in 2024 and is projected to reach USD 32.5 billion by 2032. Growth is steady, supported by rising aircraft production and demand for high-strength components.

2. What is driving demand in the Aircraft Forging Market?
The primary driver is increasing aircraft production and fleet expansion. Additionally, growing engine manufacturing and structural requirements are boosting demand for forged components.

3. Which regions are leading and growing fastest in this market?
North America leads due to its strong aerospace manufacturing base, while Asia-Pacific is the fastest-growing region due to expanding local production and investments.

4. How does aircraft production impact forging suppliers?
Aircraft production directly determines demand for forged parts, as each aircraft requires numerous safety-critical components. This creates long-term supply contracts and stable demand for forging manufacturers.

5. What challenges does the Aircraft Forging Market face?
The market faces challenges such as raw material supply constraints, particularly for titanium and nickel alloys. Complex certification processes and long lead times also impact production efficiency.

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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.

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