Aircraft Forging Market to Reach USD 39.4 Billion by 2034, Says Stratview Research

The global aircraft forging market comprises forged components used in critical aircraft applications such as engines, landing gear, wing structures, fuselage parts, and other structural assemblies where high strength, fatigue resistance, and reliability are essential. The market was valued at USD 26.1 billion in 2025 and is expected to reach USD 39.4 billion by 2034, growing at a CAGR of 4.0% during 2026-2034. Rising commercial aircraft production is a major growth driver because higher aircraft build rates directly increase requirements for forged engine discs, shafts, landing gear components, structural fittings, and other load-bearing parts.

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Market Statistics
• Market size: USD 26.1 billion in 2025
• Forecast value: USD 39.4 billion by 2034
• CAGR: 4.0%
• Forecast period: 2026-2034
• Base year: 2025
• Total number of segments: 7
• Tables & figures: 50+
• Country-Level Market Assessment: 10+ countries

Market Segmentation

Aircraft Forging Market, By Aircraft Type
• Commercial Aircraft
• Regional Aircraft
• Helicopter
• Military Aircraft
• General Aviation

Aircraft Forging Market, By Process Type
• Open/Ring-Die Forging
• Closed-Die Forging

Aircraft Forging Market, By Application Type
• Airframe
• Engine

Aircraft Forging Market, By Component Size Type
• Small Components
• Large Components

Aircraft Forging Market, By Material Type
• Nickel
• Titanium
• Stainless Steel
• Aluminum
• Other Materials

Aircraft Forging Market, By End-User Type
• OE
• Aftermarket

Aircraft Forging Market, By 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 Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Segment Analysis

By Aircraft Type: Commercial aircraft are expected to remain the largest demand generator throughout the forecast period. Increasing global air passenger traffic, large aircraft order backlogs, higher production rates of fuel-efficient narrow-body and wide-body aircraft, and continued fleet modernization support demand. Commercial aircraft use forged products across engines, airframes, landing gear, flight controls, and structural assemblies, creating sustained opportunities for forging suppliers aligned with high-volume commercial programs.

By Process Type: Closed-die forging is expected to remain the dominant process type because it enables the production of complex aerospace components with high dimensional accuracy, repeatability, near-net-shape capability, and lower machining requirements. Its use across turbine disks, compressor components, landing gear parts, fittings, brackets, and other precision parts makes closed-die manufacturing capability strategically important for suppliers pursuing high-volume aerospace programs.

By Application Type: Engine is expected to remain the largest application segment. Modern aircraft engines require forged turbine disks, compressor disks, shafts, rings, hubs, casings, and other rotating components capable of operating under extreme temperatures, pressures, and rotational speeds. The metallurgical strength, creep resistance, fatigue performance, and fracture toughness provided by forging keep the process essential for propulsion systems, supporting opportunities for suppliers qualified for critical engine components.

By Component Size Type: Small components are projected to be the fastest-growing category during the forecast period, supported by increasing use of precision-engineered fittings, brackets, connectors, couplings, bushings, fasteners, flanges, sleeves, and specialized engine hardware across multiple aircraft systems. Advances in closed-die and near-net-shape forging are also improving production efficiency and material utilization, making complex small-part manufacturing an increasingly attractive capability for aerospace suppliers.

By Material Type: Nickel is expected to remain the dominant and most preferred material category because nickel-based alloys offer high-temperature strength, oxidation resistance, creep resistance, and strong fatigue performance. These properties are particularly important for turbine disks, compressor disks, shafts, rings, and other engine components exposed to severe thermal and mechanical conditions, reinforcing the importance of nickel-alloy processing expertise among aerospace forging manufacturers.

By End-User Type: OE is expected to remain the dominant end-user segment, supported by increasing commercial and military aircraft production, next-generation aircraft programs, and the use of high-strength forgings in new aircraft assemblies. The aftermarket is projected to register the fastest growth as the global aircraft fleet expands and MRO activity increases, creating opportunities for suppliers able to serve both new-build and replacement-part demand.

Regional Insights
North America is expected to remain the largest aircraft forging market throughout the forecast period. Its position is supported by a mature aerospace manufacturing ecosystem, strong aircraft production capabilities, advanced forging infrastructure, and the presence of major aircraft OEMs, engine manufacturers, and forging companies. Concentrated production of engines, airframes, landing gear, and other safety-critical systems sustains significant demand for high-integrity forged products, making established aerospace qualifications and production capabilities especially valuable for suppliers operating in the region.

Asia-Pacific is projected to record the fastest growth during the forecast period. Expanding commercial aviation, increasing indigenous aircraft manufacturing, rising aircraft engine production, and investment in aerospace industrial infrastructure are increasing requirements for forged aerospace components. Government-supported localization, technology investment, and development of domestic manufacturing capabilities are also strengthening the regional supply base, creating opportunities for forging companies positioned to participate in expanding aerospace production programs.

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Market Drivers

• Rising commercial aircraft production: IATA reported that global air-travel demand grew 5.3% in 2025, while Airbus projects demand for 42,060 new aircraft through 2045. Expanding traffic and fleet requirements encourage higher aircraft production, which directly increases demand for forged structural, landing gear, and engine components.

• Large aircraft order pipelines and long-term fleet requirements: Airbus expects the global passenger fleet to nearly double from 23,310 aircraft at the end of 2025 to 45,550 by 2045. Long-term aircraft requirements provide production visibility across the aerospace supply chain and support sustained sourcing of high-integrity forged components.

• Increasing engine production and next-generation propulsion requirements: GE Aerospace has highlighted strong commercial and military engine demand and investments aimed at increasing LEAP production and preparing for GE9X production. Higher engine output increases requirements for forgings capable of meeting demanding mechanical, thermal, and fatigue-performance conditions.

• Expansion of dedicated aerospace forging capacity: Safran Aircraft Engines announced a €150 million investment in a 30,000-metric-ton hydraulic press at Gennevilliers for strategic commercial and military engine parts, with operation planned for 2029. Such investments reflect the need for additional high-tonnage forging capacity as engine production and supply-chain requirements expand.

• Fleet renewal and replacement demand: Airbus expects substantial new-aircraft demand to come from both traffic growth and replacement of retiring aircraft, while its services outlook highlights fleet modernization as a major long-term industry trend. Each replacement aircraft requires new forged structural and propulsion components, sustaining demand even where deliveries replace existing capacity rather than expand fleets.

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

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This release was published on openPR.