Aerospace Cold Forgings Market Size
170+ Pages Research Report to surpass USD 7.94 million by 2030 from USD 4.01 million in 2020 at a CAGR of 7.07% in the coming years, i.e., 2021-30.
Cold forging is a manufacturing process that involves deforming materials into high-strength components. The cold forging method ensures high production precision, which is essential for aircraft parts and components. Dimensionally accurate, cold-forged components require little or no finishing.
Market Highlights
Aerospace Cold Forgings market is expected to project a notable CAGR of 7.07% in 2030
One of the main reasons driving the market's growth is the growing relevance of aircraft structural dependability and the necessity for a high strength-to-weight ratio. Industry share is being fueled by shifting trends toward efficient production processes, optimal material usage, and reduced forging energy.
Recent highlights in the Aerospace Cold Forgings Market
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In October 2018 Weber Metals spent USD 180 million on an aircraft metal forging machine and now offers a variety of bespoke forging solutions.
Aerospace Cold Forgings Market: Segments
Landing gears segment to grow with the highest CAGR during 2020-30
Aerospace Cold Forgings market is segmented by Application into Landing gear, Nacelle, Airframe. Over the forecast period, the Landing gears segment will account for significant growth in the aerospace cold forgings market. This is due to an increase in aircraft manufacturing throughout the world. Because of their high ductility and optimal yield strength, cold-forged titanium alloys are utilized to make aeroplane landing gear. Furthermore, the industry's size is expected to grow significantly due to required compliance with severe requirements requiring landing gear replacement for aging fleets.
Fixed-wing segment to grow with the highest CAGR during 2020-30
Aerospace Cold Forgings market is segmented by Type into Fixed-wing, Rotary wing. Among these, the Fixed-wing category will see significant growth throughout the projection period due to the expansion of the military and commercial aviation industries, as well as growing demand for cost-effective aircraft.
Market Dynamics
Drivers
Adoption of cold forgings
Cold forging is a quicker manufacturing procedure than traditional methods. This has enabled a large volume of manufacturing to be completed in a shorter amount of time, adding to the market's expansion. The adoption of the cold forgings process has been helped by the IAQG's stringent regulations for the manufacturing of aerospace parts. This has had a positive influence on the aerospace cold forgings business, allowing it to expand. Furthermore, the cold forging production method significantly decreases material loss, resulting in market growth.
Advance technologies
The development of advanced technologies, such as hydraulic forging presses that employ efficient hydraulic forming (EHF), reduces energy needs, improves precision, and lowers costs, therefore increasing market penetration. Players in the industry are significantly spending in R&D in order to grow their market share and streamline their business opportunities.
Restraint
Lack of skilled labor
There are a few restraints that might slow the growth of the aerospace cold forgings market. The market may be hampered by a lack of skilled labor and a lack of composite materials with non-corrosive characteristics.
Aerospace Cold Forgings Market: Key Players
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Precision Castparts Corp
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- Arconic
- VSMPO-AVISMA
- Scot Forge Company
- Eramet Group
- Shaanxi Hongyuan Aviation Forging Co Ltd
- ATI Metal
- STS Intelli
- Rostec
- Bharat Forge
Aerospace Cold Forgings Market: Regions
Aerospace Cold Forgings market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Aerospace Cold Forgings market in North America held the largest market share in the year 2020. In terms of geography, the global aerospace cold forgings market is dominated by North America. The region's prosperity may be ascribed to the growing aerospace sector, which has resulted in an increase in aircraft manufacturing. In addition, increased defense spending has fueled the market's expansion in this area.
Aerospace Cold Forgings market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – China, Japan, Australia, and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Aerospace Cold Forgings report also contains analysis on:
Aerospace Cold Forgings Segments:
- By Product Type
- Captive
- Forging
- Catalog forging
- Custom forging
- By Type
- Fixed-wing
- Rotary wing
- By Platform
- Narrow-body
- Widebody
- Regional jets
- Fighter jets
- Helicopter
- Others
- By Aircraft
- Military aviation
- Commercial aviation
- General aviation
- By Application
- Landing gear
- Nacelle
- Airframe
- Aerospace Cold Forgings Market Dynamics
- Aerospace Cold Forgings Market Size
- Supply & Demand
- Current Market Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Aerospace Cold Forgings Market Report Scope and Segmentation
| Report Attribute | Details |
| Market size value in 2021 | USD 4.29 million |
| Revenue forecast in 2030 | USD 7.94 million |
| Growth Rate | CAGR of 7.07% from 2021 to 2030 |
| Base year for estimation | 2020 |
| Quantitative units | Revenue in USD million and CAGR from 2021 to 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product type, Type, Platform, Aircraft, Application, and Region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA) |
| Key companies profiled | Precision Castparts Corp, Arconic, VSMPO-AVISMA, Scot Forge Company, Eramet Group, Shaanxi Hongyuan Aviation Forging Co Ltd, ATI Metal, STS Intelli, Rostec, Bharat Forge, and Other Prominent Players. |
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