The global Aerospace Forging market is forecasted to grow at a rate of 7.5% during the period 2020-2027. The market under study had a value of USD 4.51 billion in 2019 and is forecasted to reach USD 7.89 billion in 2027.
Some of the most common forged components used within aircraft include connectors, valves, swashplates, propeller hubs, engine mount, compressor rings, gear blanks, spinners and these components are primarily forged with the help of aluminum, stainless steel, titanium, carbon steel, among others. The aerospace components are manufactured on the basis of its applicability. The increasing number of modern advanced aircraft is driving both the aerospace and the forging sector.
Get Free sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3074
The increasing number of air traffic is compelling aviation companies to include newer aircraft under their wings, and as the manufacturing of aircrafts increases, the industry under study experiences heavy growth. The aviation companies are trying to increase production capacities and trying to improvise their manufacturing processes, which demands the use of improved forged components. Emerging economies around the world and superpowers are trying to strengthen their defense sector and are investing heavily in buying technologically advanced aircraft. The manufacturing of these aircraft with special features and designs requires the forging process to undergo modifications and creates opportunities in the forging sector. Amidst such rapid changes emerging in the market, limitations of the cold forging process are slowing down the sector to a certain extent. Apart from that, strict government regulations for the aerospace market and concerns regarding environmental hazards arising out of the forging process is forming barriers for the growth of the sector.
Top Key Players:
Key participants include Arconic Inc., All Metals & Forge Group, Bharat Forge Limited, Consolidated Industries Inc., Farinia Group, Fountaintown Forge Inc., Mettis Aerospace, Pacific Forge Incorporated, Somers Forge Ltd., and Victoria Drop Forgings Co. Ltd.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/aerospace-forging-market
Further key findings from the report suggest
- Key materials used in forging are aluminum alloys, titanium, and stainless steel. The stainless steel segment is projected to witness a growth rate of 8.0% during the forecast period. It is growing in popularity as a forging material due to its properties like corrosion resistance, heat resistance, and sustainability in high temperatures.
- It is forecasted that more than 18,000 rotary-wing aircraft would be manufactured during the forecast period, and it would generate a revenue of around USD 220.7 billion. This is due to the huge growth in the production of civil helicopters, although the demand from the defense sector is likely to slow down. These figures definitely indicate positive signs for the aerospace forging market, and the possibilities of high demand from this segment are quite high.
- Asia-Pacific region is the second-largest consumer of aerospace forging products followed by Europe. Commercial air travel passengers are rapidly increasing in the Asia-Pacific region, and the developed tourism industry in Europe is contributing to rising air traffic in these regions. The airline industry is thus investing largely in procuring newer aircraft which are driving the market under study in these regions.
- There has been a number of product launches in the market like forged components for new generation engines by Mettis aerospace, “The Millionth Crankshaft” by Bharat Forge Limited etc.
- Important deals taking place in the market include acquisition of two US firms Walker Forge Limited and PMT Holding, by Bharat Forge Limited in 2016 and Chinese company revealing intentions of acquiring Mettis Aerospace in 2019.
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/3074
For the purpose of this report, Reports and Data have segmented into the Aerospace Forging market on the basis of material type, aircraft type, application, and region:
Material Type Outlook (Revenue, USD Billion; 2020-2027)
- Stainless Steel
- Aluminum Alloy
Aircraft Type Outlook (Revenue, USD Billion; 2020-2027)
- Fixed Wing
- Rotary Wing
Application Outlook (Revenue, USD Billion; 2020-2027)
- Turbine Discs
- Fan Case
Regional Outlook (Revenue, USD Billion; 2020-2027)
- North America
- Asia Pacific
- Latin America
Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/3074
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2027
Chapter 3. Indicative Metrics
Chapter 4. Aerospace Forging Market Segmentation & Impact Analysis
4.1. Aerospace Forging Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
220.127.116.11. Rising demand for modern aircraft in military aviation
18.104.22.168. Increasing air traffic
22.214.171.124. Demand for recyclable material for forging of aerospace components
4.2.3. Market restraints analysis
126.96.36.199. Drawbacks of cold forging
188.8.131.52. Strict government regulations for aerospace market
184.108.40.206. Concern regarding environmental hazards
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Reports and Data is a research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us: John W Head of Business Development Reports and Data | Web: www.reportsanddata.com Direct Line: +1-212-710-1370 E-mail: email@example.com