Aircraft Engine Forging Market Size & Forecast Report by 2028

The aircraft engine forging market is projected to reach US$ 3,260.77 million by 2028 from US$ 2,145.80 million in 2021; it is expected to grow at a CAGR of 6.2% from 2021 to 2028.

According to the International Air Transport Association, air passengers are expected to quadruple over the next two decades. ~8.2 billion passengers are expected to have traveled by air by 2037. With rising passenger traffic, major aircraft manufacturers such as Airbus and Boeing expect to see a rise in their commercial aircraft deliveries in the coming years. Thus, a surge in air passenger traffic across various countries is a key factor driving the aircraft engine forging market. Additionally, the aircraft production capacity continues to increase in response to the rise in air traffic and the introduction of next-generation aircraft. The surge in the manufacturing of aircraft would further boost the aircraft engine forging businesses. The process of forging aircraft engine components includes metalworking and machining techniques such as closed die forging, seamless die forging, and isothermal forging.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Get 10% FREE CUSTOMIZATION

Aircraft Engine Forging Market: Strategic Insights

Aircraft Engine Forging Market

• 
  CAGR (2021 - 2028)

  6.2%
• Market Size 2021
  US$ 2.15 Billion
• Market Size 2028
  US$ 3.26 Billion

Market Dynamics

GROWTH DRIVERS

• XXXXXXX
• XXXXXXX
• XXXXXXX

FUTURE TRENDS

• XXXXXXX
• XXXXXXX
• XXXXXXX

OPPORTUNITIES

• XXXXXXX
• XXXXXXX
• XXXXXXX

Key Players

• All Metals and Forge Group
• ATI
• Doncaster Group Ltd
• Farinia Group
• Lisi Aerospace
• Otto Fuchs GmbH
• Pacific Forge Incorporated
• Precision Castparts Corp
• Safran

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Forging Type

• Closed Die Forging and Seamless Rolled Ring Forging

Material Type

• Nickel Alloys and Titanium Alloys

Application

• Fan Case
• Combustion Chamber Outer Case
• Turbine Disc
• Rotors

Download Free Sample

   Buy Now   

• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Impact of COVID-19 Pandemic on Aircraft Engine Forging Market 

The US has witnessed the most severe impact of COVID-19 in 2020 and 2021. The aircraft engine manufacturers and engine component manufacturers in the country were affected due to nationwide lockdowns and travel restrictions, shut down of production facilities, and shortage of employees. The massive outbreak of the virus has created both a health crisis and an economic crisis in the US. It has led to major disruptions in the aerospace industry, impacting everything from supply chain and manufacturing to product sales. The pandemic has directly and indirectly impacted the industry’s short term and long term strategies.

Market Insights – Aircraft Engine Forging Market

North America has experienced a rise in demand for aircraft engines due to the early and rapid adoption of technologically advanced airplane engines. The booming aerospace and defense aviation business in the region encourages aircraft engine manufacturers to provide technologically innovative and efficient products for various aircraft types. The aircraft engine industry in North America is likely to be driven by rising demand for these engines and the presence of several major competitors, including General Electric Company, Honeywell International Inc., Collins Aerospace, and Pratt & Whitney. These companies undertake vigorous R&D activities to expand their product lines and manufacture aircraft engines with technologically improved systems, subsystems, and other components. Thus, the growth of the aircraft engine industry is supporting the growth of the aircraft engine forging market across North America.

Material Type-Based Insights

Based on material type, the aircraft engine forging market share is segmented into titanium alloy and nickel alloy. The nickel alloy accounted for the higher share in 2020. Numerous forging companies operating in the aerospace industry (irrespective of engine or structural parts) are more inclined towards the use of super nickel alloys. These materials come with high-temperature and heat-resistant properties. The nickel alloys are utilized in gas turbines for building energetics, blades, on rotors, turbo, and turbine aircraft engines, steam turbines, propelling nozzles, process equipment, valves, pumps, and other parts which must endure during critical environments. Nickel alloys are ideal for the environments where the temperature is in access of 1000 degrees F. Henceforth, in an aircraft engine, nickel alloys are used in combustion chamber and turbine. Pertaining to temperature is high in the rear half section, an iron-based or nickel-based alloy is used in an aircraft engine. Demand for nickel alloy is extremely high in both closed and open die forging techniques. For instance, Aubert & Duval has recently developed AD730. It is a new nickel-based superalloy which withstands during higher temperatures 1,350°F while holding strength, fatigue resistance, and creep at a competitive cost.

The aircraft engine forging market is segmented on the basis of forging type, material type, end-user, and geography. Based on type, the aircraft engine forging market is bifurcated into closed die forging and seamless rolled ring forging. Based on material type, the market is subsegmented into nickel alloys and titanium alloys. Based on end user, the market is further segmented into fan case, combustion chamber outer case, turbine disc, rotors,  and others. On the basis of geography, the aircraft engine forging market size is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America. All Metals & Forge Group, ATI Metals, Doncasters Group Ltd, Farinia Group, Lisi Aerospace, Otto Fuchs GmbH, Pacific Forge Incorporated, and Precision Castparts Corp. are among the key players that are profiled during the study of the aircraft engine forging market.

Aircraft Engine Forging Market Report Scope

Download Free Sample

   Buy Now   

• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Players operating in the aircraft engine forging market are mainly focused on the development of advanced and efficient products.

• In 2019, Doncasters sold its two businesses with operations in Sheffield, Shrewsbury, and Blaenavon. Blaenavon Forgings is sold to a US private equity firm Arlington Capital Partners and its UK Fabrications business to Radius Aerospace.
• In 2018, LISI Aerospace developed “hot dies” forging technology at its Forges de Bologne plant. This new concept helps to maintain the productivity of conventional forging while achieving a metallurgical quality close to that of isothermal forgings i.e., forging installation operating at 1,250/1,300°C, in terms of microstructure homogeneity and external health of the parts.