With the stellar growth of the aviation industry, the aerospace cold forgings market is anticipated to record inevitable expansion in the years ahead. Current affairs indicate such a trend as well when in 2019, British Airways placed a massive order for 42 Boeing 777 jets. The deal comes at a time when IAG, which also owns other airlines like Aer Lingus and Iberia, said that the net profits for the group soared by 45% to €2.9 billion due to lower costs and higher passenger numbers.
Increasing requirements for higher strength-to-mass ratio in aircraft and the rising importance for maintaining airplane structural dependability are accelerating the aerospace cold forgings market penetration over the study timeframe. Manufacturers are focused on enhancing dimensional tolerances and surface quality in aircraft landing gear manufacturing through cold forgings. The use of cold forgings in aircraft landing gear provides enhanced fuel economy and reduced airframe weight.
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Innovations in the low-cost manufacturing process for cold forgings and stringent international aviation standards requirement in terms of design characteristics, application, and manufacturing processes through cold forgings will foster aerospace cold forgings market growth. For instance, the International Aerospace Quality Group and Federal Aviation Administration will regulate the cold forgings production process for aerospace applications. These standard guidelines enforce manufacturers to conform to definitive manufacturing processes, reducing material losses and enhancing the overall aircraft efficiency.
To present a brief overview of the burgeoning aviation industry and therefore the expanding aerospace cold forgings market, it is necessary to demonstrate the air travel pattern observed across the globe. Air travel has growth exponentially in the Asia Pacific region which would present the aerospace cold forgings market with unprecedented opportunities and challenges. A staggering 3.8 billion air travelers had been reported by Air Transport Association (IATA) to have travelled in 2016 and this number has been predicted to reach 7.2 billion passengers by 2035 with most of the boost coming from Asia Pacific.
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Prominent players in the aerospace cold forgings 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. For instance, in July 2018, Allegheny Technologies Incorporated announced the acquisition of Addaero Manufacturing for metal alloy-based manufacturing technologies for aerospace and defense applications that enabled the company to expand its footprint in the aerospace cold forgings market.
Some Point from Table of Contents:
Chapter 4. Aerospace Cold Forgings Market, By Application
4.1. Global aerospace cold forgings market share by application, 2018 & 2025
4.1.1. Landing gear
126.96.36.199. Market estimates and forecast, 2013-2025
188.8.131.52. Market estimates and forecast, by region, 2013-2025
184.108.40.206. Market estimates and forecast, 2013-2025
220.127.116.11. Market estimates and forecast, by region, 2013-2025
4.1.3. Airframe18.104.22.168. Market estimates and forecast, 2013-2025
22.214.171.124. Market estimates and forecast, by region, 2013-2025
Chapter 5. Aerospace Cold Forging Market, By Platform
5.1. Global aerospace cold forging market share by platform, 2018 & 2025
5.2. Fixed Wing
5.2.1. Market estimates and forecast, 2013 – 2025
5.2.2. Market estimates and forecast, by region, 2013–2025
5.2.3. Narrow Body
126.96.36.199. Market estimates and forecast, 2013-2025
188.8.131.52. Market estimates and forecast, by region, 2013-2025
5.2.4. Wide Body
184.108.40.206. Market estimates and forecast, 2013-2025
220.127.116.11. Market estimates and forecast, by region, 2013-2025
5.2.5. Regional Jets
18.104.22.168. Market estimates and forecast, 2013-2025
22.214.171.124. Market estimates and forecast, by region, 2013-2025
5.2.6. Fighter Jets
126.96.36.199. Market estimates and forecast, 2013-2025
188.8.131.52. Market estimates and forecast, by region, 2013-2025
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