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Potential Impact Of COVID-19 On Aerospace Cold Forgings Market | Leading Companies Analysis 2027

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Aerospace Cold Forgings market.

Trusted Business Insights presents an updated and Latest Study on Aerospace Cold Forgings Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Aerospace Cold Forgings market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Abstract, Snapshot, Market Analysis & Market Definition: Aerospace Cold Forgings Market
Industry / Sector Trends

Aerospace Cold Forgings Market size valued at over USD 3.5 million in 2018 and is estimated to exhibit 7% CAGR from 2019 to 2025.

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Market Segmentation, Outlook & Regional Insights: Aerospace Cold Forgings Market

Aerospace Cold Forgings Market, By Application, 2018 & 2025, (USD Thousand)

Growing importance of aircraft structural dependability along with need for a high strength-to-weight ratio are driving the aerospace cold forgings market share over the forecast period. Shifting trends towards efficient manufacturing processes, optimum material utilization, and reduction of forging energy are among the key factors fuelling industry share.

Superior surface finish quality and enhanced level of dimensional tolerances are extensively used in the aerospace industry which in turn support the industry growth. For instance, Boeing 787 has 15% of structural forgings made from titanium alloy offering reduced airframe weight and improved fuel economy. Moreover, surging defense expenditure and requirement of specialized forgings for critical weapon systems will further support the industry growth.

Development of advanced technologies including hydraulic forging presses that use efficient hydraulic forming (EHF) offer reduced energy requirements, greater precision and cost-effectiveness thereby boosting the business penetration. Industry players are investing heavily on R&D for expanding their market share and streamlining their business opportunities. For instance, in October 2018, Weber Metals invested USD 180 million in aerospace metal forging press, offering several customized forging solutions. Moreover, in April 2016, Boeing granted a contract to Bharat Forge for manufacturing Aluminium forged flap tracks for its Next-Generation 737 airplane.

Stringent regulations associated with the aerospace industry are bolstering the aerospace cold forgings market growth over the forecast period. For instance, aviation standards including the International Aerospace Quality Group (IAQG) states specific requirements in terms of application, design characteristics and products manufactured through forging. These guidelines ensure producers conform to definitive manufacturing and production processes that significantly contributes towards enhancing the overall production efficiency and reduces material losses, thereby fuelling the aerospace cold forgings market demand till 2025. However, shifting preference towards light weight composite materials might restrict the metal forgings adoption in aerospace sector.

Aerospace Cold Forgings Market, By Application

The landing gears segment will account for significant growth in the aerospace cold forgings market over the forecast timeframe. This can be attributed to the rising aircraft production across the globe. Cold-forged titanium alloys are used for aircraft landing gear manufacturing owing to its optimum yield strength and high ductility. For instance, Japans steel manufacturing company Kobe Steel manufactured large-dimension titanium forgings to be incorporated in the landing gears of Airbus A350 XWB wide-body aircrafts. Moreover, mandatory compliance with stringent regulations regarding replacement of landing gears for ageing fleet is inducing immense potential to the industry size till 2025.

The airframe segment holds a major share in the aerospace cold forgings market owing to the requirement of shot peened forgings to enhance life of aluminium & steel parts used in fuselage skin and wings of the aircraft. Microalloy steel, aluminium and titanium are used to produce aircraft cold-forgings owing to the high strength, low density and excellent corrosion resistance.

Aerospace Cold Forgings Market, By Platform

The fixed wing segment will witness substantial growth during the forecast period owing to the expansion of military and commercial aviation industry along with rising demand for cost efficient aircraft. Narrow-body subsegment accounts for a major share with 64% composition in global fleet during 2017. Leading airplane manufacturer are partnering with local suppliers to expand their market share. For instance, Airbus collaborated with AVIC Shaanxi Hongyuan Aviation Forging Co Ltd to procure forging parts for its single-aisle aircraft thereby propelling the market demand.

The rotary wing will hold a significant market share owing to its use in aerial rescue missions, police and military surveillance, tourist flights, and others. Skid landing gear system featured in helicopters uses machined aluminium forging that connects skid tubes to cross tunes thereby providing energy attenuation in normal, auto-rotation or crash landings.

Aerospace Cold Forgings Market, By Region

North America aerospace cold forgings market place will account for a major share till 2025. The dominance can be attributed to the existence of major airplane manufacturers focusing on introducing advanced and efficient flights, catering to rising air travel demand. Moreover, the proliferating defense expenditure along with rising adoption of light weight aircrafts for various operations are further strengthening the industry share until 2025. Industry players are practicing strategic mergers and acquisitions for increasing their foothold in the aerospace cold forgings market share. For instance, in July 2015, Precision Castparts Corp. acquired Noranco for USD 560 million to expand its machining capabilities resulting in diversified product offerings.

Asia Pacific aerospace forgings market share is expected to witness steady growth over the forecast timeframe. Increasing commercial aircrafts demand along with rising number of low-cost carriers are expected to present strong growth prospects for the industry. Expanding population coupled with better business profitability are among the significant factors projected to drive the aerospace cold forgings market demand till 2025.

Key Players, Recent Developments & Sector Viewpoints: Aerospace Cold Forgings Market

Major players operating in the aerospace cold forgings market include Precision Castparts Corp, Arconic, VSMPO-AVISMA, Scot Forge, and Eramet Group. Industry players are implementing strategic mergers and acquisition for broadening their product portfolio. For instance, in December 2014, Alcoa acquired TITAL for expanding its products with a broad range of titanium aerospace component, thereby propelling the industry share.

Industry Viewpoint

Stringent regulatory standards will provide a positive outlook for the aerospace cold forgings market growth. The cold forging process ensures that the specifications of aerospace parts manufactured follow regulatory standards. The American Society for Testing and Materials (ASTM) specifies standard requirements for superior quality alloy steel semi-finished rolled or forged billets and blooms for re-forging critical parts such as landing gear. Innovative forging methods with efficient computer modelling techniques and enhanced material technology will significantly contribute towards the market expansion over the study timefram

Key Insights Covered: Exhaustive Aerospace Cold Forgings Market
1. Market size (sales, revenue and growth rate) of Aerospace Cold Forgings industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Aerospace Cold Forgings industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Aerospace Cold Forgings industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Aerospace Cold Forgings industry.

Research Methodology: Aerospace Cold Forgings Market

  • Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  • Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  • Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.

 

Quick Read Table of Contents of this Report @ Aerospace Cold Forgings Market Research Report – Forecast to 2029 (Includes Business Impact of COVID-19)

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