New York, July 18. Feb. 2, 2022 (GLOBE NEWSWIRE) — The Insight Partners has released the latest research study on “Aircraft Insulated Forge Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Aircraft Components (Fan Blades, Turbine Discs, Shafts and Connecting Rings), Forging Material (Titanium and Nickel Base Superalloys) and Type (line fitting and modernization)” The growth of the global aircraft isothermal forging market is driven by the increasing preference for titanium over steel fabricated parts Growing number of applications of isothermal forgings in construction aeronautics.
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|Market size Value in||US$1.22 billion in 2021|
|Market Size Value by||$2.04 billion by 2028|
|Rate of growth||CAGR of 7.7% from 2022 to 2028.|
|Number of pages||163|
|Number of tables||85|
|Number of graphs and figures||76|
|Historical data available||Yes|
|Segments Covered||Aircraft components, forging material and fit type|
|Regional scope||North America; Europe; Asia Pacific; Latin America; AEM|
|Country scope||United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report cover||Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends|
The isothermal aircraft forging market is segmented into North America, Asia-Pacific, Europe, Middle East & Africa and South America. North America dominated the market in 2021 and is also expected to maintain its dominance over the forecast period. The growth of the aircraft isothermal forging market in North America is attributed to the presence of a large number of aircraft and isothermal forging companies in the region, such as Boeing (USA); 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, increasing technological advancements, and increasing spending in aerospace technologies. A large portion of the United States defense budget is allocated to the adoption and purchase of improved combat aircraft, which further contributes to the demand for aircraft components manufactured from a process of isothermal forging in the country. Growing advancements in manufacturing technology and increase in aircraft production are also fueling the growth of the aircraft isothermal forging market.
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Aircraft Isothermal Forging Market: Competitive Landscape and Key Developments
Alcoa Corporation; ALD Vacuum Technologies; Allegheny Technologies Incorporated; HC Starck GmbH; Howmet Aerospace, LTD; Leistritz Turbinentechnik GmbH; Nanshan Forge Company; Precision Castparts Corp. (Berkshire Hathaway); Schuler AG; and SMT Limited are some of the major players profiled in the Aircraft Isothermal Forging Market analysis. Additionally, several other key players in the market have been researched and analyzed to get a holistic view of the market and its ecosystem. The market report provides detailed information about the market, which helps key players to build growth strategy.
In 2019, Allegheny Technologies Inc., Pittsburgh, announced the signing of several new long-term contracts with GE Aviation to supply isothermal and hot forgings used in the production of commercial aircraft engines.
In 2019, ALD Vacuum Technologies’ North American furnace sales and service organizations merged, creating a single entity responsible for marketing, sales, and service of the company’s product lines, which include vacuum heat treatment, 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 over the forecast period. This is due to the demand for titanium and nickel-based materials for the 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 in countries, such as China. Additionally, increasing development of titanium-based components for manufacturing military aircraft components in the region is another major factor propelling the growth of the isothermal forging market in the region. In May 2021, DRDO (Defense Research Development Organization) announced that it had implemented the quasi-isothermal forging technology to produce the five stages of the high-pressure compressor [HPC] hard-to-deform titanium alloy discs using its unique 2,000 metric ton isothermal forging press.
MEA is expected to experience significant growth in the aircraft isothermal forging market over the forecast period. The region is an important market for the commercial and military aircraft sector. In MEA, the commercial aerospace industry has witnessed 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 . According to a report released by Boeing, there are around 700 Boeing commercial aircraft currently in service with airlines in the region with around 600 more behind schedule. This is expected to further boost the adoption of isothermal forgings for aircraft in the region, propelling the market size of isothermal forging for aircraft.
At SAM, commercial and military aircraft manufacturing activities, periodic maintenance and replacement of aircraft components for optimal operation, and increasing expenditures in MRO activities are fueling the demand for isothermal forging of aircraft . By 2040, Airbus estimates that SAM will require up to ~2,460 additional aircraft. 90% of these requested aircraft are narrow-body aircraft, reflecting the increased need for light aircraft engine parts and landing gear for various aircraft fleets in the region. Thus, increasing investments from SAM countries to adopt new advanced aerospace and military aircraft are expected to contribute to the growth of the aircraft isothermal forging market size over the forecast period.
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