Report : Europe Aircraft Isothermal Forging Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Aircraft Components (Fan Blade, Turbine Disks, Shafts, and Connector Rings), Forging Material (Titanium and Nickel-based Superalloys), and Fit Type (Line Fit and Retrofit) Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Aircraft Components (Fan Blade, Turbine Disks, Shafts, and Connector Rings), Forging Material (Titanium and Nickel-based Superalloys), and Fit Type (Line Fit and Retrofit)

At 8.3% CAGR, the Europe aircraft isothermal forging market is speculated to be worth US$ 634.89 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the Europe aircraft isothermal forging market was valued at US$ 393.44 million in 2022 and is expected to reach US$ 634.89 million by 2028, registering an annual growth rate of 8.3% from 2022 to 2028. The increasing preference for titanium over steel fabricated parts and  growing demand for titanium and nickel-based parts in military aircraft engine production are the critical factors attributed to the market expansion.

Over the years, the aircraft component manufacturers have relied on steel fabricated parts that increased the overall weight of the aircraft models. The heavyweight reduces fuel efficiency and increases carbon emissions. Thus, aircraft component manufacturers are adopting titanium as a lightweight substitute for steel. Increasing preference for titanium over steel materials in various applications in the aerospace industry is driving the growth of the aircraft isothermal forging market. For instance, almost every Airbus aircraft had ~2,772 steel bearings that increased the aircraft's overall weight. Hence, Airbus looked for a lightweight alternative for steel bearings. As a result, steel bearings were replaced with titanium bearings that helped Airbus reduce the aircraft's overall weight by 400 kg. In earlier aircraft fleets, steel-based materials were used for portions where high strength-to-weight of components was required, such as frames and joints. However, the steel-based components or sub-components are being replaced to reduce weight by isothermally forged titanium alloys. Moreover, isothermally forged turbofan engines are widely employed by commercial aircraft to improve combustion efficiency and fuel consumption. Titanium parts have replaced steel parts in the manufacturing of aircraft components that are propelling the adoption of isothermal forging across the aerospace industry. Thus, the increasing preference for titanium over steel fabricated parts is driving the aircraft isothermal forging market growth.

On the contrary, preference for casting over other production methods hurdles the growth of Europe aircraft isothermal forging market.

Based on aircraft components, the Europe aircraft isothermal forging market is segmented into fan blade, turbine disks, shafts, and connector rings. The fan blade held 39.1% market share in 2022, amassing US$ 153.80 million. It is projected to garner US$ 267.86 million by 2028 to expand at 9.7% CAGR during 2022–2028.

Based on forging material, the Europe aircraft isothermal forging market is bifurcated into titanium and nickel-based superalloys. With 76.6% share of the domain, the nickel-based superalloys segment dominated the market in 2022. It accrued US$ 301.49 million in 2022 and is estimated to generate US$ 477.41 million by 2028 to grow at a CAGR of 8.0% over the forecast period.

 

On the basis of fit type, the Europe aircraft isothermal forging market is categorized into line fit and retrofit segment. With 70.2% share of the domain, the line fit segment dominated the market in 2022. It accrued US$ 276.32 million in 2022 and is estimated to generate US$ 457.77 million by 2028 to grow at a CAGR of 8.8% over the forecast period

Based on country, the Europe aircraft isothermal forging market is segmented into France, Germany, Italy, the UK, Russia, and the rest of Europe. Our regional analysis states that France captured 31.3% market share in 2022. It was assessed at US$ 123.02 million in 2022 and is likely to hit US$ 195.99 million by 2028, exhibiting a CAGR of 8.1% during the forecast period.

Key players dominating the Europe aircraft isothermal forging market are Alcoa Corporation, ALD Vacuum Technologies GmbH, ATI, H.C. Starck Solutions, Howmet Aerospace, Leistritz Turbinentechnik GmbH, LISI Aerospace, Precision Castparts Corp, SCHULER GROUP, and SMT Limited among others.

  • In Dec 2019, Allegheny Technologies Inc., Pittsburgh, announced the signing of several new long-term contracts with GE Aviation to provide isothermal and hot-die forgings used in the production of commercial aircraft engines. These multi-year agreements will take effect in January 2021.

Download Free PDF Brochure