Global Aerospace Forging Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Material;

Aluminum, Titanium, Steel and Others.

By Aircraft;

Commercial, Military and Other.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn112559458 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Aerospace Forging Market (USD Million), 2021 - 2031

In the year 2024, the Global Aerospace Forging Market was valued at USD 34,690.84 million. The size of this market is expected to increase to USD 46,894.11 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 4.4%.

The aerospace forging market stands as a critical segment within the broader aerospace industry, playing a pivotal role in the production of various components essential for aircraft and spacecraft. Forging, a manufacturing process that involves shaping metal through localized compressive forces, ensures the creation of strong and durable parts crucial for aviation safety and performance. The market's significance stems from its contribution to crafting components like engine parts, landing gear, structural elements, and more, all requiring high precision and reliability to meet stringent industry standards.

In recent years, the global aerospace forging market has witnessed steady growth, driven by escalating demand for commercial and military aircraft worldwide. Factors such as expanding air travel, fleet modernization initiatives by airlines, and defense budget allocations have propelled the market forward. Additionally, advancements in materials science and engineering have led to the development of innovative alloys and forging techniques, enhancing the performance and efficiency of aerospace components. This has further fueled market expansion, as manufacturers seek to leverage these advancements to stay competitive in the industry.

The aerospace forging market is characterized by intense competition among key players vying for market share and technological leadership. Established aerospace giants, along with niche forging specialists, continually invest in research and development to introduce new materials and processes, driving innovation within the sector. Furthermore, collaborations and partnerships between aerospace companies and forging manufacturers have become commonplace, fostering synergies and streamlining supply chains to meet the evolving demands of the industry.

The aerospace forging market is poised for continued growth, supported by increasing air travel demand, ongoing aircraft modernization efforts, and the emergence of next-generation aviation technologies such as electric propulsion and additive manufacturing. However, challenges such as regulatory compliance, cost pressures, and supply chain disruptions remain pertinent, requiring industry stakeholders to remain vigilant and adaptable in navigating the dynamic aerospace landscape.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Material
    2. Market Snapshot, By Aircraft
    3. Market Snapshot, By Region
  4. Global Aerospace Forging Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Growing Demand for Lightweight Components
        2. Increasing Aircraft Production
        3. Stringent Regulatory Standards
        4. Technological Advancements
        5. Increasing Defense Expenditure
      2. Restraints
        1. High Initial Investment
        2. Supply Chain Disruptions
        3. Environmental Concerns
        4. Intensive R&D Requirements
        5. Cyclical Nature of the Aerospace Industry
      3. Opportunities
        1. Rapid Growth in Emerging Markets
        2. Focus on Sustainable Manufacturing
        3. Digital Transformation
        4. Collaborations and Partnerships
        5. Aftermarket Services
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Aerospace Forging Market, By Material, 2021 - 2031 (USD Million)
      1. Aluminum
      2. Titanium
      3. Steel
      4. Others
    2. Global Aerospace Forging Market, By Aircraft, 2021 - 2031(USD Million)
      1. Commercial
      2. Military
      3. Other
    3. Global Aerospace Forging Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
      5. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
  6. Competitive Landscape
    1. Company Profiles
      1. Arconic
      2. ATI
      3. Bharat Forge Ltd.
      4. ELLWOOD Group Inc.
      5. JIANGYIN HENGRUN HEAVY INDUSTRIES CO., LT
      6. Precision Castp
      7. Larsen & Turbo Limited
      8. Scot Forge
      9. Pacific Forge Incorporated
      10. Somers Forge
  7. Analyst Views
  8. Future Outlook of the Market