New study: Aerospace Forging Market to 2027 Insights Shared in a Detailed Report | Arconic Inc.,All Metals & Forge Group,Bharat Forge Limited,Consolidated Industries, Inc.

The global aerospace forging market accounted to US$ 4.21 Bn in 2018 and is expected to grow at a CAGR of 7.5% during the forecast period 2019 - 2027, to account to US$ 7.92 Bn by 2027.

In 2018, North America was accounted for the largest share in the aerospace forging market, and the Asia Pacific is expected to be the fastest-growing region in the aerospace forging market. The entire aerospace forging industry is experiencing a remarkable rise in investments. The aerospace manufacturers in developed countries, as well as developing countries, are capitalizing significant amounts in the development of robust products with increased life span. The North American region consists of huge numbers of aerospace forging companies and coupling the count of forging companies with aerospace manufacturers have led the region to dominate the aerospace forging market heavily.

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The List of Companies

1. Arconic Inc.
2. All Metals & Forge Group
3. Bharat Forge Limited
4. Consolidated Industries, Inc.
5. Farinia Group
6. Fountaintown Forge, Inc.
7. Mettis Aerospace
8. Pacific Forge Incorporated
9. Somers Forge Ltd
10. Victoria Drop Forgings Co. Ltd.

The aviation industry is growing rapidly in terms of commercial air travel passengers. The increasing air travel has led several governments and airlines to invest significant amounts in the procurement of newer aircraft over the past few years. According to the International Air Transport Association (IATA), the global passenger count to reach 8.2 Bn by 2037. The civil aviation companies, regional aviation companies, and business aviation companies are increasing aircraft procurements.

In recent years, aerospace forging market has observed different product launch, partnership, as well as the inauguration of new facilities which would help the players to grow in the market. For instance, in 2019, Kalyani Strategic Systems Ltd. (KSSL) and IAI has signed an MoU for the establishment of maintenance center in Telangana (India). The center is meant for development, production, and sells of selected advanced air defense systems.

GLOBAL AEROSPACE FORGING MARKET SEGMENTATION

Global Aerospace Forging Market - By Material Type

o Titanium
o Stainless Steel
o Aluminium Alloy

Global Aerospace Forging Market - By Aircraft Type

o Fixed Wing Aircraft
o Rotary Wing Aircraft

Global Aerospace Forging Market - By Application

o Rotor
o Turbine Disc
o Shafts
o Fan Case

Key findings of the study:

Manufacturing of aircraft in the North America region is booming. Increasing disposable income, especially in the US and Canada, along with rising time constraints, has led the region to witness substantial growth in the aviation sector. The majority of air travelers is expected from the US market. Globalization and immigration are some of the factors which have positively impacted inbound and outbound air passenger traffic of the region. An ever-growing outlook on the air travels in the domestic as well as international arena positively impacts on the aerospace forging market as well. North America is a shelter for over 40% of the global helicopter fleet and therefore plans to purchase and replace existing fleet with new in coming few years.

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