Aerospace forging Global Market Trends, Growth And Outlook Report 2023 To 2032

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The Aerospace Forging Global Market Report 2023 by The Business Research Company, provides aerospace forging market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Aerospace Forging Global Market Report 2023, the aerospace forging market reached a value of nearly $28.735 billion in 2022, having grown at a compound annual growth rate (CAGR) of 5.5% since 2017. The market is expected to grow from $28.735 billion in 2022 to $43.084 billion in 2027 at a rate of 8.4%. The market is then expected to grow at a CAGR of 9.4% from 2027 and reach $67.426 billion in 2032. An increase in passenger air traffic is expected to propel the growth of the aerospace forging market going forward. The expansion of the aerospace forging industry is facilitated by the rise in passenger air traffic, which increases demand for new aircraft to carry an increasing number of passengers.

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The aerospace forging market is segmented:
The aerospace forging market is segmented by material, by aircraft and by application.

By Material –
The aerospace forging market is segmented by material into
a) Aluminum
b) Steel
c) Titanium
d) Other Material

By Aircraft –
The aerospace forging market is segmented by aircraft into
a) Commercial
b) Military

By Application –
The aerospace forging market is segmented by application into
a) Rotors
b) Turbine Disc
c) Shafts
d) Fan Case
e) Other Applications

By Geography – The aerospace forging market is segmented by geography into

o Asia Pacific
• China
• India
• Japan
• Australia
• South Korea

o North America
• USA

o South America
• Brazil

o Western Europe
• France
• Germany
• UK

o Eastern Europe
• Russia

o Middle East

o Africa

Aerospace forging manufacturers are focusing on offering advanced materials to provide reliable products to their customers and strengthen their market. Advanced materials play a crucial role in the aerospace industry, enabling the development of lighter, stronger and more efficient aircraft. For instance, in October 2021, Solvay, a Belgium-based company, that is a supplier of composite materials and specialty polymers to the aerospace industry, launched CYCOM® EP2190, an epoxy-based system designed for the aerospace market. CYCOM® EP2190 is an epoxy resin-based system designed to offer outstanding toughness in both thick and thin structures. It also provides excellent in-plane performance in hot/wet and cold/dry environments.

The aerospace forging market report table of contents includes: