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Aerospace Forging Market Size Forecast: How Large Could The Market Become By 2030?
The aerospace forging market size has experienced significant expansion in recent years. It is projected to expand from $36.03 billion in 2025 to $38.82 billion in 2026, exhibiting a compound annual growth rate (CAGR) of 7.7%. This expansion observed during the historic period stems from several key drivers, including the increasing utilization of high-precision forged components for vital aerospace structures, the initial deployment of impression die and open die forging to achieve requisite mechanical strength, the escalating need for forged parts to support the expanding commercial and defense aircraft fleets, the advancements in seamless rolled ring forging for high-performance engine applications, and the growing reliance on forged components to satisfy rigorous aerospace safety and durability requirements.
The aerospace forging market is projected to experience substantial expansion in the coming years. This market is anticipated to reach $52.78 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 8.0%. This projected growth is driven by several factors, including the increasing demand for lightweight yet robust forged components crucial for improving aircraft efficiency, the wider implementation of advanced forging technologies to boost dimensional precision and minimize material wastage, the growth in aircraft manufacturing and modernization initiatives fueling the need for forged components, the expanded application of high-temperature alloys necessitating specialized forging methods, and technological progress facilitating automation and digitalization within aerospace forging activities. Key trends expected during this period involve the embrace of sophisticated forging techniques, the sustained need for lightweight aerospace components, stringent requirements for high-precision parts, the incorporation of additive manufacturing alongside forging processes, and elevated standards for quality control and testing.
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#Aerospace Forging Market Growth Factors: Which Forces Are Supporting Market Expansion?
The increasing output of aircraft is projected to stimulate the expansion of the aircraft forging market moving forward. Aircraft production encompasses the creation of airplanes and their constituent parts, such as propulsion systems, avionics, and other related machinery. Forged components possess significantly greater durability and strength than parts produced via bar stock and casting, rendering them optimal for a range of aerospace applications. For example, a report released in January 2024 by Aircraft Interiors International, a UK-based media company, revealed that aircraft orders jumped by 91% in 2023 compared to 2022, with single-aisle aircraft orders increasing by 78% and widebody aircraft orders rising by 169%. New aircraft deliveries reached a total of 1,265 units in 2023, marking an 11% growth over the preceding year. Hence, the escalation in aircraft production is propelling the aircraft forging market.
Aerospace Forging Market Segmentation Trends And Revenue Drivers
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
Aerospace Forging Market Industry Trends: What Changes Are Reshaping Demand?
Major companies in the aircraft forging market are establishing strategic partnerships to combine their respective expertise, resources, and capabilities, thereby addressing the increasing demands of the aerospace industry. This collaborative approach fosters the development of new technologies and alloys, directly supporting the aerospace sector’s need for lighter, stronger, and more heat-resistant materials and forged parts. As an illustration, in April 2023, Jiuli, a steel company based in China, issued the final acceptance certificate (FAC) to SMS group for a hydraulic radial forging line. The SMX 900/18 MN hydraulic radial forging machine boasts a press force of 18 MN for each of its four press cylinders, making it highly capable of forging demanding aerospace components. Its hydraulic drive system allows for the free and flexible selection of all crucial forging parameters, ensuring that the maximum forging force can be applied consistently throughout the entire forging stroke. Furthermore, the horizontal forging machine SMI functions as an automatically controlled and hydraulically driven 2-ram forging machine, complete with integrated manipulators and centering devices for automatic operation.
#Aerospace Forging Market Industry Leaders: Which Organizations Are Driving 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 Distribution: Which Areas Drive Market Expansion?
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.