Aircraft Isothermal Forging Market- Highlights By Type And End Users, Phenomenal Growth Forecast Till 2028

The Aircraft Isothermal Forging Market size is projected to reach US$ 2,041.55 million by 2028 from US$ 1,226.38 million in 2021; it is expected to grow at a CAGR of 7.7% from 2022 to 2028.

The aircraft isothermal forging market is experiencing growth, owing to the increasing preference for titanium instead of steel fabricated parts in aircraft. In the past, steel fabricated parts were commonly used by aircraft component manufacturers, which resulted in increased weight of the aircraft models. This, in turn, led to reduced fuel efficiency and higher carbon emissions. As a solution, manufacturers are turning to titanium as a lightweight substitute for steel in various aerospace applications.

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The List of Companies -
1. Alcoa Corporation
2. ALD Vacuum Technologies
3. Allegheny Technologies Incorporated
4. H.C. Starck GmbH
5. Howmet Aerospace
6. Leistritz Turbinentechnik GmbH
7. Nanshan Forge Company
8. Precision Castparts Corp
9. Schuler AG
10. SMT Limited

For instance, Airbus was able to reduce the weight of their aircraft by 400 kg by replacing steel bearings with lightweight titanium bearings. These factors are driving the growth of the aircraft isothermal forging market. Furthermore, the Research and Development Organization (DRDO) in India developed a high-strength beta titanium alloy containing aluminum, vanadium, and iron using isothermal forging techniques, which can be used in fighter jet engines. Such initiatives are contributing to the growth of the aircraft isothermal forging market.

The aerospace industry in the US is the largest in the world and dominates the aircraft isothermal forging market in North America due to the presence of aircraft manufacturers and a rising number of advanced airplanes. The country also boasts the largest defense budget globally, with a significant portion of it allocated to the procurement and adoption of upgraded fighter planes, further fueling the growth of the aircraft isothermal forging market. For instance, in 2021, Boeing delivered a considerable number of multirole fighters, aerial refueling aircraft, and maritime patrol aircraft manufactured in the US.

In Canada, the demand for isothermally forged turboprop and turboshaft engine parts for new aircraft models and maintenance, repair, and overhaul (MRO) of existing aircraft fleets is driving the aircraft isothermal forging market. Air Canada's announcement of adding 26 new Airbus aircraft models to its current fleet in March 2022 is expected to further boost the market's growth in the country. In Europe, the development of advanced military fighter jets and high defense budgets for the production of aircraft, helicopters, and fighter jets, supported by government initiatives, are significant factors contributing to the growth of the aircraft isothermal forging market size in European countries.

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The global aircraft isothermal forging market is being fueled by the increasing number of applications for isothermally forged parts in aircraft manufacturing. This is due to the need for aircraft manufacturers to reduce weight, which has resulted in the wide-scale adoption of isothermally forged titanium alloy parts in various applications across the industry. These applications include airframes, engine parts, compressor discs, compressor blades, fans, and shafts. The use of isothermally forged titanium alloys such as Ti-6Al-4V, Ti-10V-2Fe-3Al, and Ti-5AI-2Sn-2Zr-4Cr-4Mo has become increasingly popular in the manufacturing of aircraft landing gear and structural components. In addition, isothermal forging of titanium alloy has important applications in manufacturing turbo-machinery components such as buckets, blades, couplings, discs, manifolds, rings, chambers, wheels, and shafts for jet turbine engines. These components are stronger than conventionally forged ones. The aircraft isothermal forging market is also driven by the increasing use of isothermally forged titanium alloy components among aircraft OEMs and MRO service providers.

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During the forecast period, the aircraft isothermal forging market in the US is expected to maintain its strong growth prospects. Several market players, including Bula Forge & Machine, Coulter Forge Technology, General Dynamics Ordnance and Tactical Systems, Precision Castparts Corp., Scot Forge, and Aichi Forge USA Inc., operate in the country, contributing to its market revenue. With the world's largest defense budget, the US allocates a significant portion to procuring and implementing advanced fighter planes, leading to a surge in demand for aircraft isothermal forging. In 2021, Boeing announced the delivery of several military aircraft, such as F/A-18 Hornet/Super Hornet multirole fighters, KC-46 Pegasus aerial refueling aircraft, and P-8 Poseidon maritime patrol aircraft, manufactured in the US.

The production of military assets, including the F-22, F/A-18, C-17, F-35, and UH-60 Black Hawk helicopter, necessitates a large amount of isothermally forged titanium. Consequently, aircraft manufacturers are increasingly utilizing isothermal forging to manufacture aircraft engines and airframe components, driving the growth of the aircraft isothermal forging market in the US. Additionally, the increasing use of isothermally forged titanium and nickel alloys for helicopter production in the US is boosting market growth.

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