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Aerospace Cold Forgings Market Analysis
- Report ID: GMI3081
- Published Date: Aug 2021
- Report Format: PDF
Aerospace Cold Forgings Market Analysis
The fixed-wing platform segment will account for 80% of the aerospace cold forgings market share by 2027. The introduction of new air travel destinations coupled with increasing air connectivity routes will significantly escalate the demand for fixed-wing aircraft. The cost-efficiency and high strength of cold-forged aircraft components along with their surging usage in the structure will prominently contribute toward improved service life and durability.
The increasing deployment of helicopters for aerial rescue missions and law enforcement is providing potential opportunities for the industry expansion. The growing penetration of advanced helicopters coupled with the surging orders & sales will fuel the industry value.
The landing gear segment in the aerospace cold forgings market exceeded USD 1 million in 2020 led by the surging aircraft production and increased air carrier deliveries. Cold forged landing gears offering high stiffness, fatigue resistance, and toughness provide positive growth prospects for the segment during the forecast timeline. The major structural component of landing gear consists of brace, strut, truck beam, link, and trunnion, which are mostly manufactured by the forging process.
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Europe aerospace cold forgings market will generate a demand for over 600 kilo tons by 2027 due to the development of advanced manufacturing technologies in the region. The European aircraft manufacturing industry is supported by numerous investors, such as Aviation Capital Ventures PLC, that invest in the R&D and expansion of the business. The EASA supports the commercial aircraft industry demand with a provision of funding for R&D to strengthen & maintain the global technological leadership. Constant capital flows and strong financial support are enhancing the aircraft industry, influencing the market revenue.
Middle East & Africa market will witness around 7% growth rate through 2027 impelled by the increasing aircraft deliveries along with growing preference for low-cost carriers. Robust economic growth coupled with rising disposable income is accelerating the air traffic. The growing demand for the incorporation of composite-structured aircraft is boosting the industry progression.
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Aerospace Cold Forgings Market Scope
