Dublin, May 12, 2025 (GLOBE NEWSWIRE) — The “Aerospace Forging Market Opportunities and Strategies to 2034” report has been added to ResearchAndMarkets.com’s offering.
This report describes and explains the aerospace forging market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global aerospace forging market reached a value of nearly $33.71 billion in 2024, having grown at a compound annual growth rate (CAGR) of 6.46% since 2019. The market is expected to grow from $33.71 billion in 2024 to $49.65 billion in 2029 at a rate of 8.05%. The market is then expected to grow at a CAGR of 8.17% from 2029 and reach $73.55 billion in 2034.
The global aerospace forging market is fairly concentrated, with large players in the market. The top ten competitors in the market made up to 29.87% of the total market in 2023. The market concentration can be attributed to the presence of large players in different geographies. Precision Castparts Corp. was the largest competitor with a 7.60% share of the market, followed by Bharat Forge Limited 4.45%, GKN Aerospace Services Limited with 4.40%, Thyssenkrupp Aerospace GmbH with 4.32%, Howmet Aerospace Inc. with 2.44%, OTTO FUCHS KG with 1.90%, Doncasters Group Ltd. with 1.64%, VSMPO-AVISMA Corporation with 1.57%, Wyman-Gordon Co. with 0.78% and Forged Solutions Group with 0.77%.
North America was the largest region in the aerospace forging market, accounting for 31.97% or $10.77 billion of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the aerospace forging market will be Asia Pacific and Eastern Europe where growth will be at CAGRs of 11.07% and 8.63% respectively. These will be followed by Eastern Europe and Middle East where the markets are expected to grow at CAGRs of 8.13% and 7.62% respectively.
The aerospace forging market is segmented by material into aluminum, steel, titanium and other materials. The aluminum market was the largest segment of the aerospace forging market segmented by material, accounting for 59.45% or $20.04 billion of the total in 2024. Going forward, the other materials segment is expected to be the fastest growing segment in the aerospace forging market segmented by material, at a CAGR of 8.36% during 2024-2029.
The aerospace forging market is segmented by aircraft into commercial, military and other aircraft. The commercial market was the largest segment of the aerospace forging market segmented by aircraft, accounting for 52.44% or $17.67 billion of the total in 2024. Going forward, the military segment is expected to be the fastest growing segment in the aerospace forging market segmented by aircraft, at a CAGR of 8.54% during 2024-2029.
The aerospace forging market is segmented by application into rotors, turbine disc, shafts, fan case and other applications. The turbine disc market was the largest segment of the aerospace forging market segmented by application, accounting for 30.19% or $10.17 billion of the total in 2024. Going forward, the turbine disc segment is expected to be the fastest growing segment in the aerospace forging market segmented by application, at a CAGR of 8.34% during 2024-2029.
The top opportunities in the aerospace forging market segmented by material will arise in the aluminum segment, which will gain $9.44 billion of global annual sales by 2029. The top opportunities in the aerospace forging market segmented by aircraft will arise in the commercial segment, which will gain $8.22 billion of global annual sales by 2029. The top opportunities in the aerospace forging market segmented by application will arise in the turbine disc segment, which will gain $5.01 billion of global annual sales by 2029. The aerospace forging market size will gain the most in the USA at $3.16 billion.
Market-trend-based strategies for the aerospace forging market include focusing on acquiring new equipment, such as computer numerical control (CNC) machines, focusing on product expansion, focusing on expanding forging presses and focusing on developing strategic partnerships. Player-adopted strategies in the aerospace forging market include focus on enhancing business operations through strategic collaborations and partnerships.
To take advantage of the opportunities, the analyst recommends the aerospace forging companies to focus on advanced CNC equipment acquisition, focus on product expansion, focus on expanding forging press capabilities, focus on the steel segment, expand in emerging markets, continue to focus on developed markets, focus on developing strategic partnerships, provide competitively priced offerings, continue to use B2B promotions, participate in trade shows and events, focus on the military segment and focus on the turbine disc segment.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 279 |
| Forecast Period | 2024 – 2034 |
| Estimated Market Value (USD) in 2024 | $33.71 Billion |
| Forecasted Market Value (USD) by 2034 | $73.55 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
Major Market Trends
- Advancements in CNC Technology To Enhance Precision and Efficiency
- Expansion Into Aluminum Forging To Support Vehicle Lightweighting and Performance
- Advancing Aerospace Forging With High-Capacity Press Expansion
- Strategic Partnership and Acquisition To Boost Aerospace Forging
Key Mergers and Acquisitions
- Stonepeak To Acquire Forgital Group
- Forge Resources Group (FRG) Acquired KDK Forging Company
- GMH Gruppe Acquired Kind & Co. Edelstahlwerk GmbH & Co. KG
- Stellex Capital Acquired Standard Forged Products (SFP)
- Forged Solutions Group (FSG) Acquired Steel Industries
Aerospace Forging Market Segmentations
Market Segmentation by Material
- Aluminum
- Steel
- Titanium
- Other Materials
Market Segmentation by Aircraft
- Commercial
- Military
- Other Aircraft
Market Segmentation by Application
- Rotors
- Turbine Discs
- Shafts
- Fan Case
- Other Applications
Companies Featured
- Precision Castparts Corp.
- Bharat Forge Limited
- GKN Aerospace Services Limited
- Thyssenkrupp Aerospace GmbH
- Howmet Aerospace Inc.
- OTTO FUCHS KG
- Doncasters Group Ltd.
- VSMPO-AVISMA Corporation
- Wyman-Gordon Co.
- Forged Solutions Group
- Jiuli
- Hindustan Aeronautics Limited (HAL)
- Kawasaki Heavy Industries
- Korea Aerospace Industries (KAI)
- Hanwha Aerospace
- CFS Forge
- Aviation Industry Corporation of China
- Forgital Group
- Safran
- Aubert & Duval
- ATI ZKM Forging Sp o.o.
- Voestalpine BOHLER Aerospace GmbH & Co KG
- PBS Velka Bites, a.s.
- Unex Group
- ZOP Co. Ltd.
- Avio Polska Sp. z o.o.
- Turbomecanica S.A.
- Aerostar S.A.
- IAR Bra?ov S.A.
- Boeing
- Spirit AeroSystems
- Collins Aerospace
- LSG Group
- Saab
- Lockheed Martin Corporation
- Honeywell International Inc.
- ELLWOOD Group
- Pacific Forge
- Precision Castparts Corp
- Scot Forge Company
- ATI
- Consolidated Industries Inc.
- Farinia Group
- Mettis Aerospace
- All Metals & Forge Group
- SIFCO Industries Inc.
- Canton Drop Forge
- Alcoa
- Fastenal
- FRISA
- Pratt & Whitney
- Safran
- Geven S.p.A.
- Bucher Industries
- Turbomachine
- Embraer
- ATR Aircraft
- Strata Manufacturing PJSC
- Hexcel Corporation
- Magellan Aerospace
- Parsan
- Airbus SE
- General Dynamics Corporation
- El Nasr Forging
- SP Metal Forgings
- Frankwen Forge
- Bensch Forge
- HotForge
- Steelmor Industries
- Black Dragon Forge
For more information about this report visit https://www.researchandmarkets.com/r/sw1qzg
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