Selbyville, Delaware, Sept. 01, 2021 (GLOBE NEWSWIRE) --
According to latest report “Aerospace Cold Forging Market by Platform (Rotary Wing {Helicopters}, Fixed Wing {Narrow body, Widebody, Regional Jets, Fighter Jets}), Application (Airframe, Nacelle, Landing Gear), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of aerospace cold forging will cross $4.5 million by 2027. Increasing production of aircraft for defense applications coupled with rising regional jet demand due to growing tourism is proliferating the demand for cold-forged products.
Cold forging is a preferred manufacturing process in order to deliver high dimensional accuracy and superior surface finish. In addition, developments in the manufacturing process, such as Micro Cold Forging (MCF), improve the life of dies and contribute significantly to the growing market. The presence of stringent regulatory norms associated with aircraft component manufacturing is further triggering the adoption of the cold forging process in the industry. The continuously increasing demand for narrow-body aircraft in the commercial sector and fighter jets in defense is driving the market growth.
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However, the preference of composite materials in the aircraft industry over metal parts owing to low weight, high strength, and durability over metal parts is likely to pose threat to the global aerospace cold forging market expansion.
The fighter jets will witness 7.5% growth rate through 2027 led by the increase in the demand for aircraft in military missions. Additionally, fighter jet manufacturers are aiming to accelerate their production to recover from the damage sustained by the outbreak of COVID-19. This will further fuel the consumption of cold-forged products in this segment over the coming years.
Asia Pacific aerospace cold forging market captured 15% of revenue share in 2020 impelled by the development of advanced manufacturing technologies in the region. Moreover, industry players are focusing on expanding their product portfolio and manufacturing capabilities for strengthening their foothold in the market.
Prominent manufacturers competing in the market include Precision Castparts Corp., Eramet, Scot Forge, ATI Metal, Bharat Forge, VSMPO-AVISMA Corporation, Arconic, and Shaanxi Hongyuan Aviation Forging Co., Ltd.
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Some of the major findings in aerospace cold forging market report include:
- Aircraft parts, including nacelles, landing gears, and airframes, make up a significant portion of the production cost and require precision manufacturing that can be obtained by the cold forging process.
- Fighter jets are anticipated to showcase substantial demand post-pandemic.
- Among applications, product demand for nacelles will experience significant growth over the coming years.
- The cold forging process is reliable and suitable for the high-volume production of aerospace components.
- The rise in the number of low-cost carriers owing to the acceptance of new generation of narrow body aircraft will stimulate the industry growth.
Table of Contents (ToC) of the report:
Chapter 3 Aerospace Cold Forging Market Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2017 – 2027
3.2.1 Covid-19 impact on Industry size
3.3 Industry ecosystem analysis
3.4 Pricing analysis
3.4.1 Regional pricing
3.4.2 Cost structure analysis
3.5 Technology landscape
3.5.1 Micro cold forging
3.5.2 Automated cold forging
3.5.3 Efficient hydraulic cold forging
3.6 Regulatory landscape
3.7 Industry impact forces
3.7.1 Growth drivers by region
3.7.2 Industry pitfalls & challenges
3.8 Innovation and sustainability
3.8.1 Precision cold forging
3.8.2 Advanced rapid prototyping technology
3.8.3 Sustainability
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 Product lifecycle analysis
3.12 Competitive landscape
3.13 PESTEL analysis
3.14 COVID-19 impact on application verticals
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/aerospace-cold-forgings-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
