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Aerospace Forging Market Revenue Forecast: $38.82 Billion In 2026 Rising To $52.78 Billion In 2030
The aerospace forging market has experienced robust growth in recent years. It is anticipated to expand from $36.03 billion in 2025 to $38.82 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 7.7%. This historical expansion can be attributed to several factors: the growing adoption of high-precision forged components for critical aerospace structures; the early use of impression die and open die forging to achieve required mechanical strength; a rising demand for forged parts to support expanding commercial and defense aircraft fleets; the development of seamless rolled ring forging for high-performance engine applications; and an increasing reliance on forged components to meet stringent aerospace safety and durability standards.
The aerospace forging market is projected to experience substantial expansion in the coming years. This market is set to reach $52.78 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 8.0%. Several factors will drive this growth during the forecast period. These include the increasing demand for lightweight, high-strength forged components to boost aircraft efficiency, greater integration of advanced forging technologies to enhance dimensional accuracy and minimize material waste, the expansion of aircraft production and modernization initiatives fueling demand for forged components, the growing application of high-temperature alloys necessitating specialized forging methods, and technological progress facilitating automation and digitalization within aerospace forging activities. Key trends anticipated in this period encompass the adoption of advanced forging techniques, the sustained demand for lightweight aerospace components, the need for high-precision parts, the merging of additive manufacturing with forging processes, and elevated quality control and testing standards.
Free Sample Report: Aerospace Forging Market Size, Trends And Forecast To 2030:
Aerospace Forging Market Growth Catalyst: What Is Creating New Demand?
Increased aircraft manufacturing is anticipated to drive the expansion of the aircraft forging market going forward. Aircraft production encompasses the creation of airplanes and their various components, such as propulsion systems, avionics, and other associated equipment. Forged components exhibit significantly greater durability and strength compared to those produced using bar stock and casting, making them exceptionally suitable for diverse aerospace applications. For instance, in January 2024, a report published by Aircraft Interiors International, a UK-based media company, revealed that aircraft orders surged by 91% in 2023 compared to 2022. This surge included a 78% growth in single-aisle aircraft orders and a 169% climb in widebody aircraft orders. Additionally, new aircraft deliveries reached a total of 1,265 in 2023, marking an 11% increase over the preceding year. Consequently, the uptick in aircraft production is propelling the aircraft forging market.
Aerospace Forging Market Segment Overview: Categories Covered In The 2026 Report
The aerospace forging market covered in this report is segmented –
1) By Material: Aluminum, Steel, Titanium, Other Materials
2) By Aircraft: Commercial, Military, Other Aircrafts
3) By Application: Rotors, Turbine Disc, Shafts, Fan Case, Other Applications
Subsegments:
1) By Aluminum: Aluminum Alloys, Heat-Treated Aluminum
2) By Steel: Carbon Steel, Alloy Steel, Stainless Steel
3) By Titanium: Titanium Alloys, Commercially Pure Titanium
4) By Other Materials: Nickel Alloys, Copper Alloys, Magnesium Alloys
How Are Leading Companies Shaping Aerospace Forging Market Trends?
Leading companies in the aircraft forging market are establishing strategic collaborations to harness each other’s specialized knowledge, assets, and capacities, thereby addressing the increasing demands of the aerospace industry. Such inter-company cooperation facilitates the creation of novel technologies and alloys, which in turn satisfies the aerospace sector’s growing requirement for materials and forged parts that are lighter, stronger, and possess enhanced heat resistance. As an illustration, in April 2023, Jiuli, a steel manufacturing firm based in China, presented SMS group with the final acceptance certificate (FAC) for a hydraulic radial forging line. The SMX 900/18 MN hydraulic radial forging machine is equipped with a press force of 18 MN for each of its four press cylinders, making it adept at forging intricate aerospace components. The machine’s hydraulic drive system guarantees that all vital forging parameters can be chosen with complete freedom and adaptability, and that the peak forging force is maintained across the entire forging stroke. Furthermore, the SMI horizontal forging machine operates as an automatically controlled, hydraulically driven 2-ram forging unit, complete with built-in manipulators and centering devices for autonomous operation.
Aerospace Forging Market Players: Key Companies Shaping Competition
Major companies operating in the aerospace forging market are Arconic Corporation, Bharat Forge Limited, Scot Forge Company, Larsen & Toubro Ltd., Jiangyin Hengrun Heavy Industries Co. Ltd. , Consolidated Industries Inc., Somers Forge Ltd, Pacific Forge Inc, Precision Castparts Corporation, Ellwood Group Inc, All Metals & Forge Group LLc, Farinia Group, Victoria Drop Forgings Ltd., Mettis Aerospace Limited, Berkshire Hathaway Inc., Eramet Group, Avic Heavy Machinery Co. Ltd., Fountaintown Forge Inc., GKN Aerospace service Limited, Sheffield Forgemasters International Ltd., Weber Metals Inc., SIFCO Industries Inc., Doncasters Group Ltd., Howmet Aerospace Inc., PCC Forged Products, Alcoa Corporation, Carpenter Technology Corporation, Forged Solutions Group, Honsel Umformtechnik GmbH, LISI Aerospace SAS, Safran Forge America Inc.
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Aerospace Forging Market Regional Performance And Geographic Coverage
North America was the largest region in the aerospace forging market in 2025. Asia-Pacific is expected to be the fastest-growing region in the global aerospace forging market report during the forecast period. The regions covered in the aerospace forging market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
