The rise in air traffic across the region is leading to an increase in demand for commercial aircraft. Aircraft manufacturers have increased their rate of production of commercial aircraft and helicopters over the years. Rise in the manufacturing of aircraft is directly magnifying the demand for aircraft engines over years. Additionally, airlines, aircraft operators, armed forces, and charter operators are likely to boost the demand for new engines as part of their fleet modernization and growth plans. The growing need for a new generation of engines with low emissions and weight, which would improve airplane fuel efficiency, is also contributing to the aircraft engine forging market proliferation. Companies are investing in the research and development of new engine models by employing cutting-edge technologies such as additive manufacturing and composite technologies. Thus, the rise in aircraft engine production worldwide is boosting the aircraft engine forging market.
Brazil accounts for highest number of COVID-19 cases, followed by Peru, Chile, Colombia, and Ecuador, among others. SAM government has taken an array of actions to protect their citizens and contain COVID-19's spread. Brazil is the largest spender in the aerospace industry and is the only modern aircraft manufacturing country in the region. Owing to this, the demand for components and aircraft related systems and technologies is at an all-time high in the country. The slowdown in commercial and military aircraft production in the country has impaired the supply chain in Brazil. This has weakened the demand for several components, including engines and forged engine components. Thus, the outbreak of COVID-19 has had a harsh impact on the South American aircraft engine forging market, especially in Brazil.
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 SAM aircraft engine forging market is expected to grow at a good CAGR during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 174.44 Million |
| Market Size by 2028 | US$ 232.13 Million |
| CAGR (2021 - 2028) | 4.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Forging Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Aircraft Engine Forging Market is valued at US$ 174.44 Million in 2021, it is projected to reach US$ 232.13 Million by 2028.
As per our report South America Aircraft Engine Forging Market, the market size is valued at US$ 174.44 Million in 2021, projecting it to reach US$ 232.13 Million by 2028. This translates to a CAGR of approximately 4.2% during the forecast period.
The South America Aircraft Engine Forging Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Aircraft Engine Forging Market report:
The South America Aircraft Engine Forging Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Aircraft Engine Forging Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Aircraft Engine Forging Market value chain can benefit from the information contained in a comprehensive market report.
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