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Aircraft Isothermal Forging Market Size worth $2.04Bn, Globally, by 2028 – Exclusive Report by The Insight Partners

New York, July 18, 2022 (GLOBE NEWSWIRE) — The Insight Partners published latest research study on “Aircraft Isothermal Forging Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Aircraft Components (Fan Blades, Turbine Disks, Shafts, and Connector Rings), Forging Material (Titanium and Nickel-Based Superalloys), and Fit Type (Line Fit and Retrofit)” The global aircraft isothermal forging market growth is driven by increasing preference for titanium over steel fabricated parts Increasing number of isothermal forged parts applications in aircraft manufacturing.

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Market Size Value in US$ 1.22 billion in 2021
Market Size Value by US$ 2.04 billion by 2028
Growth rate CAGR of 7.7% from 2022 to 2028.
Forecast Period 2022-2028
Base Year 2022
No. of Pages 163
No. Tables 85
No. of Charts & Figures 76
Historical data available Yes
Segments covered Aircraft Components, Forging Material, and Fit Type
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

The aircraft isothermal forging market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South America. North America dominated the market in 2021 and is also expected to continue its dominance during the forecast period. The growth of the aircraft isothermal forging market in North America is attributed to the presence of large number of aircraft and isothermal forging companies in the region, such as the Boeing (US); Airbus, Bombardier Inc. (Canada); Alcoa Corporation; ALD Vacuum Technologies North America, Inc.; and Allegheny Technologies Incorporated. North America is leading the global market owing to the growing adoption of isothermal forging, rising technological advancements, and increasing expenditure on aerospace technologies. A huge portion of the US defense budget is allocated to adopt and procure upgraded fighter planes, which is further aiding the demand for aircraft components made from isothermal forging process in the country. The growing advancements in manufacturing technology and rising aircraft production are also fueling the aircraft isothermal forging market growth.

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Aircraft Isothermal Forging Market: Competitive Landscape and Key Developments

Alcoa Corporation; ALD Vacuum Technologies; Allegheny Technologies Incorporated; H.C. Starck GmbH; Howmet Aerospace, LTD; Leistritz Turbinentechnik GmbH; Nanshan Forge Company; Precision Castparts Corp. (Berkshire Hathaway); Schuler AG; and SMT Limited are among the key players profiled in the aircraft isothermal forging market analysis. In addition, several other essential market players were studied and analyzed to get a holistic view of the market and its ecosystem. The market report provides detailed market insights, which helps the key players strategize the growth.

 In 2019, Allegheny Technologies Inc., Pittsburgh, announced the signing of several new long-term contracts with GE Aviation to provide isothermal and hot-die forgings used in the production of commercial aircraft engines.

In 2019, The North American Furnace Sales and Service organisations of ALD Vacuum Technologies have merged, creating a single entity responsible for the marketing, sales, and service of the company’s product lines, which comprise vacuum heat treatment furnaces, metallurgy furnaces, coatings, and hot isothermal forging equipment

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Asia Pacific is expected to be the fastest growing region in the global aircraft isothermal forging market during the forecast period. This is owing to the demand for titanium and nickel-based material for manufacturing and assembly of aircraft and aircraft components in the region. Various aircraft OEM facilities of companies, such as Boeing, Airbus, and COMAC, are located across the countries, such as China. Moreover, the increasing development of titanium-based components for the manufacturing of military aircraft components in the region is another major factor propelling the isothermal forging market growth in the region. In May 2021, DRDO (Defense Research Development Organization) announced that it has established the near isothermal forging technology to produce all the five stages of high-pressure compressor [HPC] discs out of difficult-to-deform titanium alloy using its unique 2,000 metric ton isothermal forge press.

The MEA is expected to witness a significant growth in the aircraft isothermal forging market during the forecast period. The region is an important market for the commercial and military aircraft sector. In the MEA, the commercial aerospace industry has witnessed a remarkable growth with major airlines, such as Emirates, operating in the region and expanding their aircraft fleets and network, further driving the MEA aircraft isothermal forging market. As per a report published by Boeing, there are about 700 Boeing commercial airplanes currently in service with the region’s airlines with approximately another 600 in backlog. This is expected to further drive the adoption of aircraft isothermally forged parts in the region, propelling the aircraft isothermal forging market size.

In SAM, the commercial and military aircraft manufacturing activities, the periodic servicing and replacement of aircraft components for optimal functioning, and the rise in spending on MRO activities are fueling the demand for aircraft isothermal forging. By 2040, Airbus estimates that SAM will require up to ~2,460 additional planes. 90% of these demanded aircraft are narrow-body aircraft, which reflects the increased need for lightweight aircraft engine parts and landing gears for various aircraft fleets in the region. Thus, the rise in the investments by SAM countries to adopt new and advanced aerospace and military aircraft is expected to contribute to the growth of the aircraft isothermal forging market size during the forecast period.

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Browse Adjoining Reports:

Aircraft Engine Forging Market Forecast to 2028 – COVID-19 Impact and Global Analysis By 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, and Others)

Forging Market Forecast to 2027 – COVID-19 Impact and Global Analysis By Techniques (Closed Die Forging, Open Die Forging, and Seamless Forging), Materials (Nickel-Based Alloys, Titanium Alloys, Aluminum Alloys, Steel Alloys, and Others), and Industries (Automotive, Aerospace, Railway, Heavy Equipment, and Wind Power)

Automotive Forging Market Forecast to 2028 – Covid-19 Impact and Global Analysis – by Foging Material (Aluminium and Steel); Component (Gears, Piston, Bearing, Axel, Connecting Roads, and Crankshaft); Vehicle Type (Passenger Cars, LCV and HCV)

Closed Die Forging Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Material Type (Nickel-Based Alloys, Titanium Alloys, Aluminum Alloys, Steel Alloys, Others); Industry (Automotive, Aerospace, Heavy Equipment, Manufacturing, Others) and Geography

Metal Forging Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Raw Material (Carbon Steel, Aluminum Steel, Aluminum, Magnesium, Stainless Steel, Titanium, Others); Application (Automotive, Aerospace, Oil and Gas, Construction, Agriculture, Others) and Geography

Forging Billets Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Square Billets, Round Billets); Application (Flanges, Discs, Rings, Valves, Forged Parts, Axles) and Geography

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Aircraft Fairings Market Forecast to 2028 – Covid-19 Impact and Global Analysis – by Material (Metallic and Non-metallic); Type of Aircraft (General Aircraft, Commercial Aircraft, and Military Aircraft); Application (Flight Control Surface, Fuselage, Wings, Engine, Nose, Landing Gear, and Cockpit); Sales Channel (OEMs and Aftermarket); and Geography

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