DUBLIN--(BUSINESS WIRE)--The "Aerospace Forging Market to 2027 - Global Analysis and Forecasts by Material Type; Aircraft Type; Application" report has been added to ResearchAndMarkets.com's offering.
The global aerospace forging market was valued at US$ 4.21 Bn in 2018 and is expected to reach US$ 7.92 Bn by 2027 with a CAGR growth rate of 7.5% in the forecast period from 2019 to 2027.
The forged components used within an aircraft are connectors, valves, swashplates, propeller hubs, engine mount, compressor rings, gear blanks, spinners, and others. These components and parts are made with different materials such as aluminum, titanium, stainless steel, carbon steel, and nickel/cobalt-based alloy, among others. Depending upon the area of application, these aerospace forging components are manufactured. Introduction of next-generation aircraft is expected to contribute heavily towards booming the business of both aerospace and forging.
The factors driving the aerospace forging market is embraced with, the higher production capacity of aircraft with a continuous rise in air traffic. With more production of airplanes, demand for forged components expands, which significantly increase the business of aerospace forging companies. However, due to cyclic changes occurring near commercial aircraft is expected to hinder the growth of aerospace forging market in the coming years.
The aerospace forging market is experiencing a rise in both order intake and revenues. The aerospace forging market consists of some gigantic and international players across the globe, which invest huge amounts in delivering the most sophisticated products to their customers. To deliver advanced aircraft components, the engine manufacturers, landing gear manufacturers, and other component manufacturers are showing their interest in lightweight solutions using different materials. Their high inclination towards forging of aerospace components plays a vital role in accelerating the growth of aerospace forging.
In the global aerospace forging market, Asia Pacific is anticipated to grow with the highest CAGR during the forecast period. Pertaining to steady growth in standard of living, rising population, and air mobility among the population is expected to have a positive impact on the air transportation and development of the economy which supports the growth of aircraft in this country, in turn supporting the growth of aerospace forging market.
The aerospace forging market globally is segmented by application into the rotor, turbine disks, shaft, fan case, and others.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers:
188.8.131.52 Aerospace Manufacturing Sector is Consistently Growing
4.2.2 Bargaining Power of Suppliers:
184.108.40.206 Supplier Concentration is Moderately Growing
4.2.3 Threats to Substitutes:
220.127.116.11 Centrifugal Casting is a Key Substitute to Forging
4.2.4 Threats of New Entrants:
18.104.22.168 Low CAPEX Facilitates New Players to Enter the Market
4.2.5 Competitive Rivalry:
22.214.171.124 Well-established and Smaller Players Operate in the Market
4.3 Aerospace Forging Market - Ecosystem Analysis:
5. Aerospace Forging Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Significant Rise in Demand for Aircraft Deliveries
5.1.2 Constantly Changing Aerospace Manufacturing Landscape
5.2 Key Market Restraints
5.2.1 Cyclic Changes in Commercial Aerospace Market
5.3 Key Market Opportunities
5.3.1 Utilization of Used Serviceable Material (USM) is Stimulating the Aerospace Forging Demand
5.4 Future Trends
5.4.1 Fabrication of Next Generation Aircraft
5.5 Impact Analysis of Drivers and Restraints
6. Aerospace Forging Market - Global Market Analysis
6.2 Global Aerospace Forging Market Revenue and Forecasts To 2027 (US$ Mn)
6.3 Market Positioning - Global Top 5 Players Ranking
7. Global Aerospace Forging Market Analysis - By Material Type
7.2 Aerospace Forging Market Breakdown, By Material Type, 2018 & 2027
7.4 Stainless Steel
7.5 Aluminium Alloy
8. Global Aerospace Forging Market Analysis - By Aircraft Type
8.2 Global Aerospace Forging Market Breakdown, By Aircraft Type, 2018 & 2027
8.3 Fixed Wing Aircraft
8.4 Rotary Wing Aircraft
9. Global Aerospace Forging Market Revenue and Forecasts to 2027 - By Application
9.2 Aerospace Forging Market Breakdown, By Application, 2018 & 2027
9.4 Turbine Disc
9.6 Fan Case
10. Global Aerospace Forging Market - Geographical Analysis
11. Industry Landscape
11.2 Merger & Acquisition
11.3 Market Initiative
11.4 New Development
12. Aerospace Forging Market - Company Profiles
- 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
- Victoria Drop Forgings Co. Ltd.
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