Increasing number of air passengers owing to the prevalence of low-cost airlines is bolstering global aerospace cold forgings market share, as more airplanes are being manufactured every year. Growing aircraft efficiency owing to surging passenger capacities will support the aviation industry growth in the coming years. As per International Air Transport Association (IATA), widebody aircraft accounted for over 19% of total commercial fleet share in the year 2017.
Burgeoning demand for strong aircraft and the need to maintain airplane structural dependability will accelerate the global aerospace cold forging industry outlook. Industry manufacturers are aiming at enhancing the dimensional tolerances and surface quality in the aircraft landing gear with the help of cold forgings. Reduction in airframe weight and enhanced fuel economy are two vital factors steering the adoption of cold forging in aircraft production.
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Cold forging is considerably faster than other manufacturing processes and is suitable for high-scale production of aerospace parts hence bolstering the global aerospace cold forging market trends. Surging demand for cold forging has led to innovations in the process over the years. Development in forging processes such as micro cold forging (MCF), that improves the life of forging dies, has amplified the adoption of cold forging in aerospace sector.
Landing gear is witnessing widespread demand owing to the rising number of commercial aircrafts and jet deliveries worldwide. Fatigue resistance, high ductility and optimum yield strength are some of the pivotal features driving the use of cold forgings in the production of landing gears.
Several cold forging raw material suppliers are venturing into supply contracts with aircraft manufacturers to enhance their industry share. Aubert and Duval supplies cold forgings for aerospace applications and has entered into supply contracts with leading aviation industry participants such as COMAC, Airbus, Boeing to assist in the production of landing gear.
Rise in demand for aircrafts to meet the burgeoning air passenger traffic is fueling the production of landing gears, boosting aerospace cold forgings market outlook.
Expanding operations of airline operators across the globe to meet the demand for commercial air travel and cargo operations has led to an increase in narrow-body aerospace cold forgings industry share. Increase in disposable income among the people has enhanced the rate of affordability of flights.
Jet Airways had ordered over 75 Boeing 737 Max aircrafts to meet the constantly rising demand in July 2018, with other airlines also ordering several new planes to expand their fleet. Also, growth of regional carriers coupled with benefits offered by the airlines such as low airline ticket cost and improved efficiency will furthermore enhance the global Aerospace Cold Forgings Market outlook.
Presence of several prominent aircraft manufacturers indulging in frequent innovations and technological advancements in order to cater to the rising air-passenger customer base is magnifying U.S. aerospace cold forging market share. Additionally, enhanced services offered by low-cost airlines coupled with expanded flight routes in the region is furthermore driving the demand for aircrafts.
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The growing establishment of aircraft manufacturing units across the region aimed at improving the market share of airplane industries will support aerospace cold forging market over the years. For example, Airbus launched its new manufacturing facility in the U.S. to meet the surging demand for A220 aircrafts in January 2019.
Moreover, high defense budget has increased the demand for fighter jets across the region, complementing the market trends.
Table of Contents (ToC) of the report:
Chapter 1. Methodology and Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definition and forecast parameters
1.2. Data Sources
Chapter 2. Aerospace Cold Forgings Market Summary
2.1. Aerospace cold forging industry 3600 synopsis, 2013 - 2025
2.1.1. Business trends
2.1.2. Application trends
2.1.3. Platform trends
2.1.4. Regional trends
Chapter 3. Aerospace Cold Forgings Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2025
3.3. Industry ecosystem analysis
3.3.1. Component Suppliers
3.3.3. Profit margin analysis
3.3.4. Distribution channel analysis
3.3.5. Vendor matrix
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