DUBLIN--(BUSINESS WIRE)--The "North America Aircraft Isothermal Forging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Aircraft Components, Forging Material, and Fit Type" report has been added to ResearchAndMarkets.com's offering.
The aircraft isothermal forging market in North America is expected to grow from US$ 482.13 million in 2022 to US$ 692.75 million by 2028; it is estimated to grow at a CAGR of 6.2% from 2022 to 2028
There has been a rise in the development of fuel-efficient aircraft engines across the aerospace sector. The rising production of modern-day aircraft is expected to create more growth opportunities for emerging aircraft isothermal forging players to manufacture fuel-efficient aircraft models.
Due to the rising demand for more advanced fuel-efficient aircraft models, the increasing production of advanced next-generation high-bypass turbofan engines is expected to present immense growth opportunities for the key players operating in the aircraft isothermal forging market.
Further, these new engines incorporate new aerodynamic designs, materials, coatings, combustion and cooling technology, and improved integration between the engine and airframe, encouraging the adoption of isothermal forging to manufacture critical aircraft components.
For instance, Boeing has developed several performance enhancements to the Next-Generation 737 that reduce fuel consumption and carbon emissions. Major turbofan engine manufacturers are Pratt & Whitney, General Electric, Rolls-Royce, and CFM International.
In June 2021, GE Aviation and Safran launched the CFM RISE (Revolutionary Innovation for Sustainable Engines) program to develop next-generation fuel-efficient CFM aircraft engines by the mid-2030s that emit less CO2.
Thus, the growth in the production of advanced aircraft engines with lightweight, high tensile, and cost-effective materials will increase the demand for isothermally forged aircraft engine components during the forecast period. Thus, the need for fuel-efficient next-generation aircraft is expected to create more aircraft isothermal forging market opportunities.
North America Aircraft Isothermal Forging Market Segmentation
- The fan blade segment is expected to account for the largest market share in 2022.
- The nickel-based superalloy segment is expected to account for a larger market share in 2022.
- The line fit segment is expected to account for a larger market share in 2022.
- The US accounted for the largest market share in 2022.
Key Industry Dynamics
Market Drivers
- Increasing Preference for Titanium over Steel Fabricated Parts
- Increasing Number of Isothermal Forged Parts Applications in Aircraft Manufacturing
Market Restraints
- Preference for Casting over Other Production Methods
Market Opportunities
- Development of Fuel-Efficient Next-Generation Aircraft Engines
Future Trends
- Growing Demand for Titanium and Nickel-based Parts in Military Aircraft Engine Production
Company Profiles
- Alcoa Corporation
- ALD Vacuum Technologies GmbH
- ATI
- H.C. Starck Solutions
- Howmet Aerospace
- Leistritz Turbinentechnik GmbH
- LISI Aerospace
- Precision Castparts Corp
- SCHULER GROUP
- SMT Limited
For more information about this report visit https://www.researchandmarkets.com/r/6l1lp2
