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Aerospace Cold Forging Market for Fixed wing segment will witness substantial growth due to the expansion of military and commercial aviation industry

Author : Ronak Bora | Published Date : 2019-03-28 

North America accounted for a significant volume share in the aerospace cold forging market on account of the existence of prominent aircraft manufacturers focusing on adopting technologically-advanced products for their products to improve the market share. Aircraft manufacturers are increasing aircraft deliveries across the globe to cater to increasing air passenger traffic growth. Rising defense budget across the region has led to higher demand for fighter jets, thereby escalating the aerospace cold forgings market share over the study timeframe.

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Fixed wing will register significant growth over the study timeframe on account of increasing applications of aircraft landing gear in fixed-wing aircraft including narrow body aircraft, regional jets, and fighter jets. The introduction of short-haul routes is influencing the demand for low-cost carriers, thereby fostering the aerospace cold forging market over the projected timeframe. Further, proliferating long-distance travel and increasing tourism enable manufacturers to increase the aircraft efficiency with its compact design and advanced aircraft components.

Airbus has been setting wheels in motion to assemble its latest A330neo wide-body jet in China. The company is trying to capitalize its business in the world’s fastest-growing aviation markets. China itself is not far behind in the race and has already tested the first China manufactured full size commercial aircraft in 2017, a line that is anticipated to rival giants like Boeing and Airbus. Considering such a widespread growth in the aerospace manufacturing industry, it can be very decidedly concluded that the aerospace cold forging market will earn substantial profits as the industry mainly deals in the manufacturing of airframes, landing gears and nacelles.

Aerospace Cold Forging Market for landing gear segment accounted for a substantial share with increasing commercial aircraft and regional jet deliveries across the globe. Extensive use of cold forgings in landing gear manufacturing of aircraft on account of high ductility, optimum yield strength, and fatigue resistance are among the major factors that will drive the cold forgings market demand. The cold forging raw material suppliers are establishing supply contracts with aircraft manufacturers for increasing their market share. For instance, Aubert & Duval supplies cold forgings for aerospace applications and has established supply contracts with major aerospace industry players including Airbus, COMAC, and Boeing for landing gear manufacturing.

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Advancement in forging technology has helped in the expansion of shapes, sizes and properties available in forged products to meet the demand for a variety of design and performance requirements. In case where strength, economy, reliability and resistance to shock and fatigue are vital considerations, reliable forgings are indispensable. Forged materials are specialized to offer high or low temperature degree of ductility, performance, hardness and machinability.

The fact that aerospace cold forgings market stands to gain in Asia has been underlined by the recent event where Bamboo Airways of Vietnam ordered ten 787-9 Dreamliners from Boeing while VietJet ordered one hundred 737 Max planes. While the former order was priced at $3 billion, the latter came with a price tag of $12.7 billion. Remarkably, the orders come at a time when President Donald Trump of the United Sates, had been visiting Vietnam to meet with the North Korean leader, Kim Jong-Un.

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Prominent players in the aerospace cold forging market place include Vsmpo-Avisma, Arconic, Eramet Group, Precision Castparts Corp, Scot Forge, Shaanxi Hongyuan Aviation Forging Co Ltd, Bharat Forge, and ATI Metal. Industry participants are entering into strategic mergers & acquisitions for improving their business share.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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