Market Overview:
The global aerospace forgings market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The market growth can be attributed to the increasing demand for lightweight aircraft components and rising air passenger traffic across the globe. Based on type, the aluminum alloy parts segment is expected to account for a major share of the global aerospace forgings market during the forecast period. This can be attributed to its high strength-to-weight ratio and corrosion resistance properties as compared with other metals used in aircraft components manufacturing such as titanium alloys and steel alloys. Based on application, engine segment is anticipated to hold a dominant position in terms of revenue contribution throughout the forecast period.
Product Definition:
Aerospace forgings are metal components that are used in the aerospace industry. They are made from high-quality metals, and they are specifically designed for use in aircraft and spacecraft. Aerospace forgings have a number of advantages over other types of metal components. They are strong and durable, and they can withstand the extreme conditions that exist in space. Additionally, they can be manufactured to very precise specifications, which is essential for ensuring that aircraft and spacecraft function properly.
Aluminum Alloy Parts:
Aluminum alloys parts are used in aerospace forged products. The major application of aluminum alloys is in the form of castings and forging for aircraft structure, engine components, landing gear components and other ancillary parts. Aluminum has a high strength to weight ratio which makes it suitable for use as a material in aerospace applications.
Titanium Alloy Parts:
Titanium alloys are widely used in aerospace forged products on account of properties such as high strength, lightweight and corrosion resistance. The selection of the particular alloy is governed by the application under consideration. For example, 6Al-4V titanium has good weldability and is suitable for applications that require high strength with low weight to volume ratio.
Application Insights:
Aerostructure was the dominant application segment in 2017, accounting for over 45.0% share of the overall revenue. The demand for these products is expected to increase as a result of rising air travel activities across various regions including Asia Pacific and Middle East & Africa on account of growing middle-class population and increasing disposable income. This trend is projected to continue over the forecast period, thereby driving aerospace forgings market growth globally.
Engine application segment accounted for around 40% share in 2017 owing to extensive use titanium alloy parts with high strength which are used in large quantities during manufacturing process of an aircraft engine along with other components such as turbine blades, compressor wheels and others using aluminum alloys as well.
Regional Analysis:
North America accounted for the largest share of over 35.0% in 2017 owing to the presence of key aircraft manufacturers such as Boeing, Lockheed Martin and Airbus. The aerospace industry is expected to witness growth on account of increasing demand for air travel which will drive the product demand over the forecast period.
Asia Pacific is projected to be one of the fastest-growing regions with a CAGR exceeding 5.0% from 2018 to 2030 due to rapid industrialization along with growing passenger traffic in countries such as China, India and Japan among others will drive market growth over next eight years. Europe also has a significant share owing its large number of aerospace parts manufacturing companies coupled with high aviation activity across Germany, U K.
The Middle East & Africa region was valued at USD X million in 2017.
Growth Factors:
- Increasing demand for commercial aircraft: The global fleet of commercial aircraft is expected to grow at a CAGR of 3.8% from 2016 to 2035, according to Boeing. This will result in an increase in the demand for aerospace forgings, as they are extensively used in the manufacture of commercial aircraft parts.
- Growing popularity of unmanned aerial vehicles (UAVs): UAVs are increasingly being used for civilian applications such as surveillance, mapping, and agriculture due to their advantages such as low cost and ease of deployment. This is expected to drive the growth of the aerospace forgings market in the coming years.
- Rising investment in defense sector: The global defense expenditure is projected to grow at a CAGR of 2% from 2016-2021, according to IHS Markit . This will lead to an increase in demand for high-quality aerospace forgings that meet stringent military specifications.
Scope Of The Report
Report Attributes
Report Details
Report Title
Aerospace Forgings Market Research Report
By Type
Aluminum Alloy Parts, Titanium Alloy Parts, Other
By Application
Engine, Aerostructure, Other
By Companies
Arconic, Eramet Group, Avic Heavy Machinery, VSMPO-AVISMA, Allegheny Technologies, Otto Fuchs KG, ATI Metals, Mettis Aerospace, Scot Forge, Aerospace Specification Metals, Inc., Steel& IndustrialForgingsLimited, Fountaintown Forge, Pacific Forge, Victoria Forgings, Doncasters Precision Forgings, Canton Drop Forge, CHW Forge, Precision Castparts Corp
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
229
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Aerospace Forgings Market Report Segments:
The global Aerospace Forgings market is segmented on the basis of:
Types
Aluminum Alloy Parts, Titanium Alloy Parts, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Engine, Aerostructure, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Arconic
- Eramet Group
- Avic Heavy Machinery
- VSMPO-AVISMA
- Allegheny Technologies
- Otto Fuchs KG
- ATI Metals
- Mettis Aerospace
- Scot Forge
- Aerospace Specification Metals, Inc.
- Steel& IndustrialForgingsLimited
- Fountaintown Forge
- Pacific Forge
- Victoria Forgings
- Doncasters Precision Forgings
- Canton Drop Forge
- CHW Forge
- Precision Castparts Corp
Highlights of The Aerospace Forgings Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Aluminum Alloy Parts
- Titanium Alloy Parts
- Other
- By Application:
- Engine
- Aerostructure
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Aerospace Forgings Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Aerospace forgings are metal parts that are used in aircraft and other aerospace products. They are often made from aluminum, but can also be made from other metals. Aerospace forgings can be very thin, which makes them good candidates for use in aircraft and other aerospace products.
Some of the major players in the aerospace forgings market are Arconic, Eramet Group, Avic Heavy Machinery, VSMPO-AVISMA, Allegheny Technologies, Otto Fuchs KG, ATI Metals, Mettis Aerospace, Scot Forge, Aerospace Specification Metals, Inc., Steel& IndustrialForgingsLimited, Fountaintown Forge, Pacific Forge, Victoria Forgings, Doncasters Precision Forgings, Canton Drop Forge, CHW Forge, Precision Castparts Corp.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Aerospace Forgings Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Aerospace Forgings Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Aerospace Forgings Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Aerospace Forgings Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Aerospace Forgings Market Size & Forecast, 2018-2028
4.5.1 Aerospace Forgings Market Size and Y-o-Y Growth
4.5.2 Aerospace Forgings Market Absolute $ Opportunity
Chapter 5 Global Aerospace Forgings Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Aerospace Forgings Market Size Forecast by Type
5.2.1 Aluminum Alloy Parts
5.2.2 Titanium Alloy Parts
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Aerospace Forgings Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Aerospace Forgings Market Size Forecast by Applications
6.2.1 Engine
6.2.2 Aerostructure
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Aerospace Forgings Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Aerospace Forgings Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Aerospace Forgings Analysis and Forecast
9.1 Introduction
9.2 North America Aerospace Forgings Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Aerospace Forgings Market Size Forecast by Type
9.6.1 Aluminum Alloy Parts
9.6.2 Titanium Alloy Parts
9.6.3 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Aerospace Forgings Market Size Forecast by Applications
9.10.1 Engine
9.10.2 Aerostructure
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Aerospace Forgings Analysis and Forecast
10.1 Introduction
10.2 Europe Aerospace Forgings Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Aerospace Forgings Market Size Forecast by Type
10.6.1 Aluminum Alloy Parts
10.6.2 Titanium Alloy Parts
10.6.3 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Aerospace Forgings Market Size Forecast by Applications
10.10.1 Engine
10.10.2 Aerostructure
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Aerospace Forgings Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Aerospace Forgings Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Aerospace Forgings Market Size Forecast by Type
11.6.1 Aluminum Alloy Parts
11.6.2 Titanium Alloy Parts
11.6.3 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Aerospace Forgings Market Size Forecast by Applications
11.10.1 Engine
11.10.2 Aerostructure
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Aerospace Forgings Analysis and Forecast
12.1 Introduction
12.2 Latin America Aerospace Forgings Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Aerospace Forgings Market Size Forecast by Type
12.6.1 Aluminum Alloy Parts
12.6.2 Titanium Alloy Parts
12.6.3 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Aerospace Forgings Market Size Forecast by Applications
12.10.1 Engine
12.10.2 Aerostructure
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Aerospace Forgings Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Aerospace Forgings Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Aerospace Forgings Market Size Forecast by Type
13.6.1 Aluminum Alloy Parts
13.6.2 Titanium Alloy Parts
13.6.3 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Aerospace Forgings Market Size Forecast by Applications
13.10.1 Engine
13.10.2 Aerostructure
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Aerospace Forgings Market: Competitive Dashboard
14.2 Global Aerospace Forgings Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Arconic
14.3.2 Eramet Group
14.3.3 Avic Heavy Machinery
14.3.4 VSMPO-AVISMA
14.3.5 Allegheny Technologies
14.3.6 Otto Fuchs KG
14.3.7 ATI Metals
14.3.8 Mettis Aerospace
14.3.9 Scot Forge
14.3.10 Aerospace Specification Metals, Inc.
14.3.11 Steel& IndustrialForgingsLimited
14.3.12 Fountaintown Forge
14.3.13 Pacific Forge
14.3.14 Victoria Forgings
14.3.15 Doncasters Precision Forgings
14.3.16 Canton Drop Forge
14.3.17 CHW Forge
14.3.18 Precision Castparts Corp
