Detroit, Dec. 19, 2024 (GLOBE NEWSWIRE) -- The global aircraft engine casting market is projected to witness a growth rate of 4% annually from 2024 to 2032, with an anticipated size of US$ 13.2 billion by 2032, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global aircraft engine casting market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights
| Market Size in 2032 (billion US$) | 13.2 |
| Growth (CAGR) | 4% during 2024-2032 |
| Forecast Period | 2024-2032 |
| Trend Period | 2017-2022 |
| Base Year | 2023 |
| Number of Segments Covered | 8 |
| Number of Tables & Graphs | 100+ |
| Country-Level Market Assessment | 20 |
Segment Insights on the Aircraft Engine Casting Market:
The global aircraft engine casting market is segmented based on aircraft type, engine type, application type, component type, process type, material type, end-user type, and region.
Based on aircraft type - The market is segmented into commercial aircraft, regional aircraft, helicopter, military aircraft, and general aviation. Between these sub-segments, the Commercial aircraft is expected to remain dominant as well as the fastest-growing aircraft type in the market in the coming years. The commercial aircraft segment is being driven by increasing aircraft deliveries, fleet size, and new efficient variants of existing aircraft. Airbus forecasts a demand for 32,630 single-aisle and 8,220 wide-body aircraft over the next 20 years.
Based on the engine type - The market is classified as turbofan, turboprop, and others. Between these engine types, the Turbofan engine is expected to remain the biggest demand generator for cast parts during the forecast period. Turbofan is the most preferred engine category, utilized in all the major aircraft categories: commercial aircraft, regional aircraft, and business jets. Casting remains one of the most popular manufacturing processes for making crucial turbofan engine parts.
Based on the application type – The market is bifurcated into fan, compressor, combustion, turbine, and others. Turbine is expected to maintain a gigantic share of the market. The turbine is among the hottest parts of the aircraft and is subject to high stress and temperatures. Steel and nickel superalloys are majorly used in turbine applications.
Based on the process type - The market is classified as investment casting and other castings. Between these process types, Investment casting holds a mammoth share in 2023 and is expected to remain the dominant as well as the fastest-growing process type during the forecast period. Investment casting has a host of advantages, like high accuracy and precision; a superior surface finish; high strength and durability; and design flexibility, making the process the most preferred choice for manufacturing engine parts.
Based on material type - The market is segmented into nickel, titanium, stainless steel, and others. Between these sub-segments, Nickel alloys dominated the market in 2023 and are expected to remain dominant, whereas titanium is expected to be the fastest-growing material in the market during the forecast period. Nickel alloys offer superior adhesion, corrosion resistance, and toughness. They are suitable for situations where stress needs to be minimized. They are extensively used in aircraft for parts like turbine blades, combustion chambers, and high-temperature exhaust system parts.
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that North America is expected to remain the largest market for aircraft engine casting during the forecast period. This growth outlook is majorly attributed to the following:
- North America is the preferred manufacturing hub of the aerospace industry.
- The USA drives North America’s market, The region’s technological advancements, huge R&D investments, and stringent environmental regulations have led to the adoption of sustainable and advanced cast parts.
- Approximately 80% of the world’s regional jet fleet is based in North America. In 2022, +2,100 regional jets were in service in North America and Europe.
Likewise, China, Germany, France, the USA, and India remain the thrust-bearers of the market in the long run.
Aircraft Engine Casting Market Drivers:
Some of the key drivers listed in the report are given below.
- Increasing commercial aircraft production supporting engine production.
- The rising aircraft fleet size.
- Demand for lightweight yet durable casted parts, and advancements in material technology.
Top 5 Companies in the Aircraft Engine Casting Market:
The market is fairly consolidated with the presence of 50+ players. Market competitors compete based on the quality of their offered products, key players concentrate on growing their production facilities, making R&D investments, and developing infrastructure. Stratview Research has identified the following companies as the top market players (arranged alphabetically).
- Consolidated Precision Products
- Chromalloy Gas Turbine LLC
- Doncasters Group
- Howmet Aerospace
- Precision Castparts Corp.
What Deliverables Will You Get in this Report?
| Key questions this report answers | Relevant contents in the report |
| How big is the sales opportunity? | In-depth analysis of the Aircraft Engine Casting Market |
| How lucrative is the future? | Market forecast and trend data and emerging trends |
| Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
| Which are the most attractive market segments? | Market segment analysis and forecast |
| Who are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
| How complex is the business environment? | Porter’s five forces analysis, PEST analysis, Life cycle analysis |
| What are the factors affecting the market? | Drivers & challenges |
| Will I get the information on my specific requirements? | 10% free customization |
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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