Aerospace Forging Market Analysis: Market Size, Leading Players, And Top Trends - By The Business Research Company

News provided by

Sep 13, 2023, 10:31 ET

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, Sept. 13, 2023 /PRNewswire/ -- As per The Business Research Company, the global aerospace forging market is poised for remarkable expansion, with expectations to surge from $28.74 billion in 2022 to $31.49 billion in 2023, showcasing a substantial compound annual growth rate (CAGR) of 9.6%. Furthermore, the industry's upward trajectory is set to continue, with projections of reaching an impressive $43.08 billion by 2027, maintaining a CAGR of 8.2%. This surge in the aerospace forging market can be attributed to various factors, including the rise in aircraft production, increased international and domestic travel, and the burgeoning tourism sector.

Diverse Landscape with Global Competitors

The global aerospace forging market presents a diverse landscape, characterized by a multitude of players vying for prominence. In 2022, the top ten competitors collectively held 9.75% of the market share. Notably, Berkshire Hathaway Inc. emerged as the industry leader with a 5.36% market share, closely followed by Bharat Forge Limited, Arconic Corporation, Mettis Group, Scot Forge Company, Consolidated Industries, Inc., ELLWOOD Group Inc., Somers Forge Ltd., Farinia Group, and Pacific Forge Incorporated. This competitive environment fosters innovation and drives industry excellence.

Learn More On The Aerospace Forging Market Report – https://www.thebusinessresearchcompany.com/report/aerospace-forging-global-market-report

Innovative Forging Techniques Transform the Landscape

Major players in the aerospace forging market are committed to advancing their techniques for metal forging, with the aim of developing new materials boasting superior properties. A prime example is SMS group, a Germany-based aerospace forging company, which unveiled the SMX 900 / 18 MN in April 2023. This hydraulic radial forging machine boasts a press force of 18 MN for each of its four press cylinders, enabling the forging of sophisticated materials for the aerospace industry. The innovative SMX forging process not only enhances material properties but also facilitates cost-effective production, ushering in a new era of efficiency in aerospace forging.

Regional Dynamics

North America led the charge in the aerospace forging market, commanding a significant 32.0% share of the global market in 2022. Western Europe and the Asia Pacific regions followed suit, further highlighting the global reach of this aerospace forging market.

Request A Free Sample Of The Aerospace Forging Market Report – https://www.thebusinessresearchcompany.com/sample.aspx?id=10104&type=smp

Market Segmentation

The global aerospace forging market is segmented into three key categories:

By Material:

Aluminum
Steel
Titanium
Other Materials

By Aircraft:

Commercial
Military
Other Aircrafts

By Application:

Rotors
Turbine Disc
Shafts
Fan Case
Other Applications

In conclusion, the aerospace forging market is experiencing remarkable growth, driven by increased aircraft production and advancements in forging techniques. Industry players are poised to capitalize on these opportunities, and the competitive landscape is characterized by innovation and global reach. As the market continues to evolve, it remains a critical pillar in the aerospace industry, shaping the future of flight through superior materials and technologies.

View More Similar Market Reports:

Aerospace Insulation Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/aerospace-insulation-global-market-report

Aerospace Materials Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/aerospace-materials-global-market-report

Aerospace Composites Global Market Report 2023

https://www.thebusinessresearchcompany.com/report/aerospace-composites-global-market-report

Interested to know more about The Business Research Company?

The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

The World's Most Comprehensive Database

The Global Market Model, The Business Research Company's flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users make better strategic decisions.

Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model