Aircraft Open Die Forging Market to Grow 6.74% CAGR through 2029F

The increasing demand for lightweight, high-strength components to improve fuel efficiency, advancements in forging technologies such as automation and precision machining, and the growing focus on sustainability in aerospace manufacturing are the factors driving the market in the forecast period 2025-2029.

According to TechSci Research report, “Aircraft Open Die Forging Market -Global Industry Size, Share, Trends, competition Forecast & opportunities, 2029F”, the Global Aircraft Open Die Forging Market was valued at USD 4.79 Billion in 2023 and is expected to reach USD 7.18 Billion by 2029 with a CAGR of 6.74% during the forecast period. The Aircraft Open Die Forging Market is witnessing consistent expansion, driven by the aerospace industry's growing need for durable and high-performance components. This forging method is indispensable in producing critical aircraft parts such as landing gear, engine components, and structural elements, known for their exceptional strength and reliability. The focus on reducing weight to enhance fuel efficiency and lower emissions has led to greater adoption of cutting-edge forging processes and advanced materials like titanium and aluminum alloys.

The aviation sector’s commitment to sustainability is driving the adoption of eco-friendly forging processes, focusing on energy efficiency, reduced material waste, and the use of recyclable materials like titanium and aluminum. Innovations in energy-efficient forging equipment contribute to a smaller carbon footprint, while compliance with environmental regulations strengthens brand reputation. This trend aligns with the increasing emphasis on fuel efficiency and performance optimization, accelerating the shift toward lightweight, high-strength alloys that reduce weight and lower fuel consumption. However, the market faces challenges such as a shortage of skilled personnel, with specialized expertise in precision machining, design optimization, and quality assurance. The need for experienced workers increases operational costs and may lead to inefficiencies. To address these challenges, developing a robust talent pipeline through partnerships with educational institutions is critical. As the aerospace industry prioritizes sustainable manufacturing and lightweight materials, the demand for advanced open die forging solutions continues to rise, shaping the future of the market.

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The Global Aircraft Open Die Forging Market is segmented into aircraft type, application type, component size type and region.

The Global Aircraft Open Die Forging Market is segmented into small components and large components, each catering to different demands within the aerospace sector. Small components are essential for various critical applications in aircraft, including fasteners, bolts, and smaller structural elements. These parts require high precision and durability, as they must perform under extreme conditions, including high-pressure environments and heavy loads. Open die forging plays a vital role in ensuring the necessary strength and reliability of these smaller components, which are integral to the overall safety and functionality of aircraft.

Large components, such as engine parts, turbine blades, and landing gear, require a more robust forging process to meet the high-performance standards expected in the aerospace industry. These components often involve complex geometries and materials that can withstand extreme temperatures, pressures, and stresses during operation. The manufacturing of large forged components typically involves more specialized techniques to ensure optimal performance and structural integrity. The use of advanced alloys and high-strength materials in large components is essential for ensuring that they can handle the demanding operational conditions of modern aircraft.

Both small and large components are crucial for the functionality of different aircraft types, from commercial to military and general aviation. As aircraft designs evolve to incorporate more fuel-efficient and lightweight materials, the demand for both small and large forged components continue to rise. Manufacturers must meet increasingly stringent industry standards, driving innovation in forging processes and materials used in these components. The growth of both segments reflects the ongoing advancements in aerospace engineering and the continuous need for reliable, high-performance parts in aircraft manufacturing.

In 2023, Asia-Pacific emerged as the fastest-growing region in the Global Aircraft Open Die Forging Market. The region's aerospace sector has been expanding rapidly due to increasing investments in both commercial and military aviation. Asia-Pacific countries are witnessing a rise in demand for high-performance forged components for aircraft, driven by the growth of local aviation industries and a focus on infrastructure development. The market growth in this region is supported by a shift toward advanced manufacturing technologies, including automation and precision forging techniques. These innovations are helping to meet the growing demand for lightweight, durable components, particularly in the aerospace sector. As the region’s aircraft manufacturing capabilities improve, there is a strong emphasis on reducing weight and increasing fuel efficiency, which drives the need for lightweight alloys and advanced forging processes. Governments and private players in the Asia-Pacific region are investing heavily in the development of their aerospace industries, contributing to the increasing demand for forged components. This investment in new aircraft programs, including regional jets and military aircraft, is further boosting the need for open die forging solutions. As a result, the Asia-Pacific region is experiencing a surge in the production of both small and large components for the aviation sector, strengthening its position in the global aircraft open die forging market.

Major market players operating in Global Aircraft Open Die Forging Market are:

• Arconic Corporation
• Allegheny Technologies Incorporated (ATI)
• Precision Castparts Corp.
• PJSC VSMPO-AVISMA Corporation
• Metallus Inc.
• Howmet Aerospace Inc.
• Norsk Titanium AS
• Forgital Italy S.p.A
• Doncasters Limited
• Aubert & Duval 

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“The Global Aircraft Open Die Forging Market is experiencing growth driven by increasing demand for high-performance forged components in the aerospace sector, technological advancements in forging processes, and the rising focus on lightweight, fuel-efficient aircraft. Asia-Pacific is emerging as the fastest-growing region, fueled by rapid expansion in both commercial and military aviation industries. The region’s growing investments in aerospace manufacturing, along with a shift towards advanced materials like lightweight alloys, are key factors driving market growth”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.

“Aircraft Open Die Forging Market -Global Industry Size, Share, Trends, Opportunity, Segmented By Aircraft Type (Commercial Aircraft, Regional Aircraft, Helicopter, Military Aircraft, General Aviation), By Application Type (Airframe, Engine), By Component Size Type (Small Components, Large Components), By Region & Competition, 2019-2029F”, The report evaluates the future growth potential of the Global Aircraft Open Die Forging Market, offering insights into market size, structure, and projected growth. It aims to provide comprehensive market intelligence to support decision-makers in making informed investment decisions. Additionally, the report identifies and analyzes emerging trends, key drivers, challenges, and opportunities in the Global Aircraft Open Die Forging Market.

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