Aerospace Forging Market Analysis

End-user (Business, Commercial, Military)

The global aerospace forging market is segmented and analyzed for demand and supply by end users into business, commercial, and military. Out of these, the commercial segment is anticipated to account for the largest market share by the end of 2037. The growth of this market can be attributed owing the growing amount of investment in the production of commercial aircraft and the rising number of scheduled flights for passengers. In recent years, strong travel demand has increased the demand for new commercial aircraft. Rising passenger numbers in the Asia-Pacific region are expected to boost long-term demand for forged parts. For instance, more than 20,000 jetliners have been delivered globally in the last ten years, a 66% increase from the previous ten years. According to the latest data, the Asia-Pacific region is expected to deliver 10,040 new aircraft from 2028 to 2038. The emerging middle class in developing countries is expected to play a key role in increasing passenger numbers. According to the same data, the middle-class population in Asia-Pacific increased from 32% in 2008 to 50% in 2018. 

Material (Aluminum Alloy, Stainless Steel, Titanium)

The global market is segmented and analyzed for demand and supply by material into aluminum alloy, stainless steel, and titanium. Amongst these, the aluminum alloy segment is anticipated to hold the largest market share by the end of 2037. The use of aluminum in the aerospace industry is rapidly increasing owing to its lightweight properties. Modern planes are lighter, more modern, and more fuel efficient than older models. The development of advanced aluminum alloys in combination with other metals is another key factor likely to drive demand for aluminum forgings. Around 90% of aircraft bodies are made of aluminum, and forging with this material is essential in order to provide the metal capabilities of preventing fatigue by improving its ductility and strength.

Our in-depth analysis of the global market includes the following segments: