APAC Aircraft Engine Forging Market

The aircraft engine forging market in APAC is expected to grow from US$ 654.85 million in 2021 to US$ 1085.35 million by 2028; it is estimated to grow at a CAGR of 7.5% from 2021 to 2028.

The aviation industry is experiencing huge demand for air travel, for both military and commercial purposes. This is leading the aircraft manufacturers to procure the latest aircraft models, and models and adopt new and robust technologies. Therefore, the production of the next generation of aircraft is expected to be one of the key trends in the aviation industry in the future. The trend is predicted to pitch over the period, leading to huge opportunities for the proliferation of aircraft component forging players. The commercial aerospace industry is expected to prominently witness a boom in the production of a next-generation single-aisle, large twin-aisle aircraft, and jet engines. The next-generation jet engines use advanced metallic powder alloys and nickel-based superalloys. These engines is an economic model of the aircraft, which helps in enhancing fuel efficiency and aircraft performance.

The COVID-19 pandemic has not only disrupted the APAC’s economy and the region’s aerospace market but has also changed the customer attitude towards the sector. The region has witnessed a significant decline in the air transportation. Approximately 18,000 aircraft including the Boeing 747s and Airbus A380s were put in storage in 2020, due to the collapse in passenger demand and bankruptcies. From aircraft manufacturing and assembly viewpoint, China is one of the leading aerospace manufacturing countries in the region and has been one of APAC's most affected countries during Q1 and Q2 of 2020. Due to this, the manufacturing facilities have been witnessing severe conditions in aircraft and aircraft component manufacturing facilities. The Airbus and Boeing manufacturing facilities in China were shut down for a longer period, which resulted in substantial lesser demand for various components and systems including engines. Similarly, China’s indigenous aircraft manufacturer COMAC also halted its production of C919 during Q1, which resulted in negatively in aircraft engines and aircraft engine forging market. However, the aviation authorities, airlines, and aircraft manufacturers foresee a strong growth in APAC aviation industry. Owing to this, several airlines and military forces are ordering and taking deliveries of newer aircraft models. This is expected to drive the demand for aircraft engines among commercial and military aircraft manufacturers, which would boost the aircraft engine forging market player’s businesses.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the aircraft engine forging market. The APAC aircraft engine forging market is expected to grow at a good CAGR during the forecast period.

 APAC Aircraft Engine Forging Market Revenue and Forecast to 2028 (US$ Million)

APAC Aircraft Engine Forging Market Segmentation

APAC Aircraft Engine Forging Market – By Forging Type

• Closed Die Forging
• Seamless Rolled Ring Forging

APAC Aircraft Engine Forging Market – By Material Type

• Nickel Alloy
• Titanium Alloy

APAC Aircraft Engine Forging Market – By Application

• Fan Case
• Combustion Chamber Outer Case
• Turbine Disc
• Rotors
• Others

APAC Aircraft Engine Forging Market- By Country

• China
• India
• Japan
• South Korea
• Rest of APAC

APAC Aircraft Engine Forging Market-Companies Mentioned

• Allegheny Technologies Incorporated
• Doncasters Group
• Farinia Group
• LISI Group
• Otto Fuchs KG
• Precision Castparts Corp.
• Safran
• VSMPO-AVISHMA Corporation 

APAC Aircraft Engine Forging Market Strategic Insights

APAC Aircraft Engine Forging Market Segmentation Analysis

APAC Aircraft Engine Forging Market Report Highlights

APAC Aircraft Engine Forging Report Scope

APAC Aircraft Engine Forging Market Country and Regional Insights