Selbyville, Delaware, Feb. 26, 2019 (GLOBE NEWSWIRE) --
The aerospace cold forging market is predicted to expand from USD 3.5 million in 2018 to over USD 5.5 million by 2025, according to a 2019 Global Market Insights, Inc. report. The fact that cold forging is faster than other manufacturing processes and is suitable for high volume production required in aerospace parts will drive the market growth.
Aerospace parts including airframes, nacelles and landing gear form a major share of production costs and require high degree of manufacturing accuracy. Cold forging process fulfills this demand of aerospace manufacturers by providing superior surface finish quality, high dimensional accuracy, and lower energy consumption.
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Developments in forging processes including micro cold forging (MCF) enhances the life of forging dies and support aerospace cold forgings market penetration. Forging dies are prone to mechanical failure owing to repeated contact with the workpiece, and replacement or repair can be costly and time-consuming. The MCF enhances the service life of the dies by providing a rapid reciprocating impact force to obtain the final shape of the component.
Stringent regulatory standards associated with the manufacturing of aviation components will support aerospace cold forging market expansion over study timeframe. Aviation regulations stress on high dimensional accuracy of aerospace components and cold forging process enables the component manufacturers to obtain it in an efficient manner. The International Aerospace Quality Group (IAQG) provides guidelines for designing and manufacturing of aerospace products through forging process. These standards ensure aircraft part manufacturers to follow specific production guidelines for maintaining quality of parts, thereby increasing overall efficiency and minimize material loss.
Increasing aircraft production owing to proliferating air passenger traffic along with replacements of ageing aircraft fleet will boost the aerospace cold forgings market penetration over the forecast timeframe.
Increasing usage of composite materials in nacelles and airframe structure may hamper the market growth over the study timefame. The benefits offered by the composite materials including lower weight, improved fuel efficiency, and non-corrosive properties are further supporting their increased adoption till 2025. However, increasing developments and advancements in micro cold forging processes will provide a positive outlook for the industry expansion over the study timeframe.
Browse key industry insights spread across 300 pages with 380 market data tables & 9 figures & charts from the report, “Aerospace Cold Forgings Market Size, By Application (Landing Gear, Nacelle, Airframe), By Platform (Fixed Wing [Narrow Body, Wide Body, Regional Jets, Fighter Jets], Rotary Wing [Helicopter]) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Netherlands, China, Japan, India, South Korea, Australia, Brazil, Mexico, Colombia, Chile, Turkey, Saudi Arabia, UAE, Israel, Iran), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/aerospace-cold-forgings-market
Based on application, airframe is expected to dominate the aerospace cold forging market share over the forecast timeframe. Increasing usage of materials including Aluminum, Titanium and Steel for manufacturing the component is boosting the segment share over the study timeframe. Moreover, higher accuracy required for titanium components further accelerates the market growth over the projected timeframe.
The narrow body aerospace cold forgings market share will showcase significant growth over the forecast timeframe. This can be credited to increasing capacity of airline operators across the globe. Rising adoption of low-cost carriers along with benefits offered by these aircrafts including improved efficiency and lower initial cost further accelerates the business demand till 2025.
North America aerospace cold forging market will witness a significant growth owing to the concentration of multiple aircraft manufacturers across the region. The increasing demand for aircrafts owing to improving services offered by low cost carriers along with expanded network of routes served by multiple airliners are supporting the industry growth till 2025. Additionally, aircraft manufactures are expanding their manufacturing facilities for improving their market share by catering to the increasing demand.
The key industry participants in the market place include Precision Castparts Corp., Arconic, Eramet Group, Scot Forge, and Vsmpo-Avisma Corporation. Partnerships and collaborations are among the prominent strategies adopted by industry participants to increase their market share.
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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.
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