Aircraft Open-Die Forging Market is Forecast to Reach US$ 6.7 Billion in 2028, Says Stratview Research

The Aircraft Open-Die Forging Market is likely to grow at a significant CAGR of 6.8% during 2023-2028, to reach US$ 6.7 Billion in 2028, states Stratview Research.

DETROIT, Nov. 28, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the aircraft open-die forging market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on Aircraft Open-Die Forging Market

The aircraft open-die forging market is segmented based on aircraft type, application type, component size type, material type, end-user type, and region.

Based on aircraft type- We have segmented our market into commercial aircraft, regional aircraft, helicopters, military aircraft, and general aviation. Commercial aircraft is expected to be the dominant as well as the fastest-growing aircraft type in the market during the forecast period, propelled by factors such as increasing passenger traffic, the emergence of low-cost carriers, and the need for more efficient aircraft for domestic and international travel. One of the major factors propelling the growth of this segment is the increased focus of aircraft manufacturers on the production of narrow-body and wide-body aircraft. The military aircraft segment is also expected to show significant growth in the coming years, owing to increased military spending of countries to buy new and advanced aircraft.

Based on application type- The aircraft open-die forging market is segmented into airframe and engine. Engine is expected to be the dominant application category for open/ring-die forging in the aerospace industry during the forecast period. It is also anticipated to be the fastest-growing segment of the market. With the global aviation industry's focus on reducing fuel consumption and emissions, there is a continuous drive for more efficient engines that can deliver better performance and meet stringent environmental regulations. In addition to that, the use of forged parts in aircraft engines offers advantages like superior strength, durability, enhanced performance, improved safety, design flexibility, material integrity, and cost efficiency.

Based on material type- The market is segmented into nickel, titanium, stainless steel, aluminum, and others. Nickel is expected to maintain its dominance, whereas titanium is expected to be the fastest-growing material type during the forecast period. Titanium alloys have a high specific strength, so they are frequently used for the manufacture of various components in engines and airframes. Due to various advantages offered by titanium, such as lower weight, heat resistance, and corrosion resistance, its usage has now increased nearly two times in new variants of aircraft as compared to traditional ones. For instance, in B787, titanium alloys now account for ~15% of total structural components.

Based on end-user type- The market is segmented into OE and aftermarket. Increasing production rates of key aircraft programs like the B737 and A320 families, along with the entry of new players like COMAC, are expected to make OE the dominant segment over the course of the projected period. Due to the expanding fleet of commercial aircraft and the rising need for advanced lightweight components, obsolete components are being replaced with advanced lightweight ones which will drive the demand at the aftermarket level.

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Which Region Offers the Best Opportunity and Growth?

The report suggests that North America is likely to remain the most dominant region, whereas Asia-Pacific is expected to be the fastest-growing region in the long-term scenario. This growth is majorly attributed to the following –

-  Increasing air travel demand.

-  A rising middle-class population.

-  Expanding economies.

-  Growing tourism and business opportunities.

-  The opening of assembly plants of major OEMs in the region.

-  Countries, such as China, India, Indonesia, and Vietnam, are the growth engines of the region. These countries are witnessing a surge in air travel demand, leading to increased aircraft production paired with an increased demand for open/ring-die forged components.

Aircraft Open-Die Forging Market Drivers

Some of the key drivers listed in the report are given below.

-  The market is expected to grow significantly in the coming years with the rise in air passenger traffic due to the growing disposable income of developing countries.

-  The increasing production rate of key aircraft programs.

-  The demand for durable and high-performance components is also likely to increase. 

-  The OEMs are also increasing the demand for forged components that can meet the quality and safety standards of the aviation industry.

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Top 10 Companies in Aircraft Open-Die Forging Market?

The market is highly populated with the presence of several regional and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The supply chain of this market comprises raw material suppliers, forged parts suppliers, distributors/part brokers, tier players, OEMs, and MRO companies. The following are the key players in the aircraft open-die forging market. Companies in the aircraft open-die forging market often combine multiple strategies to establish a competitive advantage and achieve sustainable growth in the industry.

• Precision Castparts Corp.
• Forgital Group
• 9ATI Inc.
• Doncasters Group
• Voestalpine BÖHLER Aerospace GmbH & Co KG
• Aubert & Duval SAS
• Otto Fuchs KG
• Howmet Aerospace

What Deliverables Will You Get in this Report?

Related reports which might be useful:

• Aircraft Forging Market
• Aircraft Closed-Die Forging Market

About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. The reliability and insightfulness of the reports enable the readers to take convincing business decisions.

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