Aerospace Forging Market Report 2026

Aerospace Forging Market Overview

• Aerospace Forging market size has reached to $36.03 billion in 2025 • Expected to grow to $52.78 billion in 2030 at a compound annual growth rate (CAGR) of 8% • Growth Driver: Aircraft Production Surge Fuels Aircraft Forging Market • Market Trend: Global Aerospace Forging Market Trend: Strategic Partnerships Driving Innovation In Aircraft Forging Technology • North America was the largest region in 2025 and Asia-Pacific is the fastest growing region.

The key promising market opportunities in the aerospace forging market include: • Aluminum (Segmentation By Material) → Expected gain of $10064.42 Million • Commercial (Segmentation By Aircraft) → Expected gain of $8735.17 Million • Military (Segmentation By Aircraft) → Expected gain of $5747.19 Million

What Is Covered Under Aerospace Forging Market?

Aerospace forging refers to the shaping and forming process that uses high pressure and temperature to make parts that are essential to the operation of airplanes. Aerospace forgings require higher levels of precision and quality than standard mechanical products. The materials of aerospace forging are aluminum, steel, titanium, and others. Aluminum refers to a silvery-white, lightweight metal. The aircraft involved are commercial, military, and others that use aerospace forging for rotors, turbine discs, shafts, fan cases, and others.

What Is The Aerospace Forging Market Growth Forecast?

The aerospace forging market size is expected to see strong growth in the next few years. It will grow to $52.78 billion in 2030 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to growing need for lightweight yet high-strength forged components to enhance aircraft efficiency, increasing adoption of advanced forging technologies to improve dimensional accuracy and reduce material waste, expansion of aircraft production and modernization programs driving demand for forged parts, rising use of high-temperature alloys requiring specialized forging processes, technological advancements enabling automation and digitalization in aerospace forging operations. Major trends in the forecast period include advanced forging techniques adoption, lightweight aerospace components demand, high-precision component requirements, integration of additive manufacturing with forging, enhanced quality control and testing standards.

What Is Driver Of The Aerospace Forging Market?

The rise in aircraft production is expected to propel the growth of the aircraft forging market going forward. Aircraft production refers to the manufacturing of airplanes and components such as propulsion systems, avionics, and other related equipment. Forged components are far more durable and stronger than components manufactured using bar stock and casting, making them ideal for use in various aerospace applications. For instance, in January 2024, according to the report published by Aircraft Interiors International, a UK-based media company, aircraft orders surged by 91% in 2023 compared to 2022, with single-aisle aircraft orders growing by 78% and widebody aircraft orders climbing by 169%. New aircraft deliveries totaled 1,265 in 2023, representing an 11% increase over the previous year. Therefore, the rise in aircraft production is driving the aircraft forging market.

How Will The Drivers Impact Growth In The Global Aerospace Forging Market?

• Rapid Urbanization (Low) – The rapid urbanization will become a key driver of growth in the aerospace forging market by 2030. Urbanization is the process by which an increasing percentage of a population moves from rural areas to urban areas, resulting in the growth and expansion of cities. Urbanization is rising due to population growth, economic opportunities in cities, improved living standards, and advancements in infrastructure and technology that attract people from rural to urban areas. Urbanization positively impacts aerospace forging by driving increased air travel demand for business and leisure, prompting higher production of aircraft and forging components to support growing urban connectivity and infrastructure needs. • Expansion Of Defense Budgets (Low) – The expansion of defense budgets will emerge as a major factor driving the expansion of the aerospace forging market by 2030. Defense budgets are financial allocations made by governments to fund military expenditures, including personnel, equipment, operations, and research, aimed at maintaining national security and defense capabilities. The expansion of defense budgets positively impacts aerospace forging by driving higher demand for advanced military aircraft and components, leading to increased investment in the production of durable, high-performance forged materials. • Growing Demand For Air Travel (Low) – The growing demand for air travel within digital manufacturing processes will serve as a key growth catalyst for the aerospace forging market by 2030. Air travel refers to the movement of passengers and goods through the air using aircraft, typically involving commercial airlines or private flights. The demand for air travel positively impacts aerospace forging by driving the need for more aircraft production and maintenance, which requires high-performance, durable forged components for aircraft engines, structures, and systems. • Expanding Tourism Sector (Low) – The expanding tourism sector will become a significant driver contributing to the growth of the aerospace forging market by 2030. The tourism sector encompasses industries and activities that provide services and experiences to travelers, including transportation, accommodation, food, entertainment, and cultural experiences, contributing to local and global economies. The surge in international and domestic travel, fueled by a growing number of foreign tourists, has bolstered the aviation industry. As tourism expands, airlines are compelled to increase their fleet sizes to accommodate rising passenger numbers, which directly boosts the demand for aerospace forgings used in aircraft manufacturing. This growth will significantly impact the broader economic landscape worldwide. • Increasing Aircraft Production (Low) – The increasing aircraft production will become a significant driver contributing to the growth of the aerospace forging market by 2030. Aircraft production is the process of designing, manufacturing, and assembling aircraft components and systems to create fully functional airplanes or helicopters for commercial, military, or private use. Aerospace forging is required for aircraft production to create high-strength, lightweight, and precision-engineered components that meet the rigorous safety and performance standards of modern aviation. • Favorable Government Support (Low) – The favorable government support will become a significant driver contributing to the growth of the aerospace forging market by 2030. Favorable government support refers to policies, incentives, and funding provided by the government to encourage the growth and development of specific industries or sectors, promoting innovation, investment, and economic growth. Favorable government support is rising due to increased recognition of the need to stimulate economic growth, promote innovation, create jobs, and ensure national competitiveness in key industries such as technology, aerospace, and renewable energy. Favorable government support positively impacts aerospace forging by providing funding, tax incentives, and policy stability, which encourage investment in advanced forging technologies, enhance industry growth, and drive innovation in manufacturing processes.

How Will The Restraints Impact Growth In The Global Aerospace Forging Market?

• Lack Of Skilled Labor (Low) – Lack Of Skilled Labor will restrict the growth of the Aerospace Forging market during the forecast period. Aerospace forging requires highly skilled workers with specialized training in metallurgy, forging techniques, and quality control. The shortage of qualified personnel in the aerospace manufacturing sector creates production bottlenecks and limits capacity expansion. The skill gap can lead to quality issues, production delays, and increased labor costs, constraining the growth of the aerospace forging industry.

Key Players In The Global Aerospace Forging Market

Major companies operating in the aerospace forging market are Arconic Corporation, Bharat Forge Limited, Scot Forge Company, Larsen & Toubro Ltd., Jiangyin Hengrun Heavy Industries Co. Ltd. , Consolidated Industries Inc., Somers Forge Ltd, Pacific Forge Inc, Precision Castparts Corporation, Ellwood Group Inc, All Metals & Forge Group LLc, Farinia Group, Victoria Drop Forgings Ltd., Mettis Aerospace Limited, Berkshire Hathaway Inc., Eramet Group, Avic Heavy Machinery Co. Ltd., Fountaintown Forge Inc., GKN Aerospace service Limited, Sheffield Forgemasters International Ltd., Weber Metals Inc., SIFCO Industries Inc., Doncasters Group Ltd., Howmet Aerospace Inc., PCC Forged Products, Alcoa Corporation, Carpenter Technology Corporation, Forged Solutions Group, Honsel Umformtechnik GmbH, LISI Aerospace SAS, Safran Forge America Inc.

Global Aerospace Forging Market Trends and Insights

Major companies operating in the aircraft forging market are developing strategic partnerships to leverage each other's expertise, resources, and capabilities to meet the increasing demands of the aerospace industry. Collaboration between companies can lead to the development of new technologies and alloys, meeting the increasing demands of the aerospace industry for lighter, stronger, and more heat-resistant materials and forged parts. For instance, in April 2023, Jiuli, a China-based steel company granted SMS group the final acceptance certificate (FAC) for a hydraulic radial forging line. The SMX 900/18 MN hydraulic radial forging machine has a press force of 18 MN for each of the four press cylinders, making it capable of forging demanding aerospace components. The hydraulic drive ensures that all important forging parameters can be freely and flexibly selected, and the maximum forging force can be applied throughout the entire forging stroke. The horizontal forging machine SMI is an automatically controlled and hydraulically driven 2-ram forging machine with integrated manipulators and centering devices for automatic operation.

What Are Latest Mergers And Acquisitions In The Aerospace Forging Market? Pursuit Aerospace, Inc. Acquires Larson Forgings, Inc. To Expand Forging Capabilities

In June 2025, Pursuit Aerospace Inc., a US-based manufacturing company, acquired Larson Forgings, Inc. for an undisclosed amount. With this acquisition, Pursuit Aerospace aims to expand its forging capabilities, particularly in seamless rolled rings, strengthen its position in the aerospace and defense markets, and enhance its ability to offer a broader range of high-quality, precision-engineered components and services to its global customer base. Larson Forgings Inc. is a US-based manufacturing company that specializes in providing aerospace forging.

What Defines the Aerospace Forging Market?

The aerospace forging market includes revenues earned by entities by providing impression die forging (closed die), cold forging, open die forging, and seamless rolled ring forging services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What Key Data and Analysis Are Included in the Aerospace Forging Market Report 2026?

The aerospace forging market research report is one of a series of new reports from The Business Research Company that provides market statistics, including industry global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace forging industry. The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.