Aircraft Engine Forging Market to Reach $5.97 Billion by 2031 with 6.84% CAGR

According to The Insight Partners : The Aircraft Engine Forging Market size is projected to reach US$ 5,966.86 million by 2031 from US$ 3,787.15 million in 2024. The market is expected to register a CAGR of 6.84% during 2025–2031.

New York, September 19, 2025 – The global aircraft engine forging market continues on a robust growth path, driven by the expanding demand for more fuel-efficient, lightweight, and high-performance components in modern aircraft engines. This manufacturing segment, critical to the production of high-strength and reliable engine parts, is evolving rapidly with technological advancements and increasing aerospace industry activity worldwide.

Aircraft engine forging is a specialized manufacturing process that involves shaping metal alloys like titanium and nickel-based superalloys under intense pressure to produce engine components that can endure extreme stresses and temperatures. These forged parts, including turbine discs, compressor blades, and shafts, are foundational to ensuring engine durability and safety in both commercial and military aviation.

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Key industry players featured in the report include:

• All Metals & Forge Group
• OTTO FUCHS KG
• Pacific Forge Incorporated
• Precision Castparts Corp.
• Safran SA
• VSMPO-AVISMA Corp
• Farinia Group
• Doncasters Group
• LISI GROUP
• Allegheny Technologies Inc

Market Trends and Driving Factors

Several key trends are shaping the aircraft engine forging market:

• Heightened importance of fuel efficiency and emission reduction in engine design is accelerating demand for forged components that offer superior strength-to-weight ratios.
• Adoption of advanced forging techniques such as isothermal forging and precision die forging enables production with tighter tolerances and complex geometries, reducing additional machining and costs.
• Increasing utilization of nickel-based superalloys enhances performance in extreme operating conditions.
• Growing production rates of commercial and military aircraft engines as air traffic continues to rise globally.
• Rising interest in using serviceable material and sustainable manufacturing practices that align with environmental priorities.
• Expansion in next-generation aircraft programs emphasizing lightweight materials and operational efficiency.

Market Size, Share, and Forecast (by 2031)

• The aircraft engine forging market is projected to experience healthy expansion with consistent growth in demand from aviation industry stakeholders.
• Market share is led by global aerospace hubs with strong manufacturing infrastructure and technology adoption.
• Regional growth will observe notable variations, with Asia Pacific emerging as a high-growth region driven by rapid aviation market expansion, government investments, and indigenous aerospace production.
• North America remains dominant due to its advanced aerospace ecosystem and major manufacturers contributing significantly to the overall market.
• Europe maintains a strong presence, driven by aviation regulations and technological innovation focused on sustainability and safety compliance.
• The Middle East, Latin America, and Africa regions present emerging opportunities supported by growing airline fleets and modernization initiatives.

Global and Regional Market Analysis

North America, particularly the United States, dominates the aircraft engine forging market with a substantial share attributed to well-established aerospace companies and defense contractors such as General Electric Aviation and Pratt & Whitney. The region benefits from extensive research and development, a highly skilled workforce, and stringent safety standards demanding high-quality forged components.

Asia Pacific is anticipated to witness the fastest growth over the forecast period. Countries like China and India play a significant role, driven by their increasing commercial air traffic, governmental support for aerospace manufacturing, and focus on developing homegrown aircraft engine production capabilities.

Europe continues to be a critical region with a strong aerospace industry relying on advanced materials and precision forging technologies to meet demanding regulatory frameworks while pushing innovation in fuel-efficient and low-emission engines.

Emerging regions including Middle East & Africa and Latin America are gaining traction through infrastructure development, fleet expansion, and modernization efforts which collectively contribute to future market opportunities.

Industry Outlook and Challenges

The aircraft engine forging market outlook is optimistic, supported by ongoing technological innovations and evolving industry requirements. Companies are investing intensively in R&D to enhance forging processes, improve material properties, and reduce manufacturing waste, thereby aligning with the growing global focus on sustainability.

However, the market also faces challenges such as high costs of raw materials, complex supply chains for precision components, and regulatory pressures across different regions. Geopolitical uncertainties and fluctuating economic conditions may impact production cycles and investment levels.

Summary

The aircraft engine forging market is positioned for steady growth through 2031, fueled by expanding aviation activities, technological progress, and sustainability-driven innovations. This market segment remains critical for advancing aircraft engine efficiency, safety, and performance worldwide.

Key Highlights:

• Market forecast to grow steadily with ongoing demand from commercial and military aviation.
• Advanced forging technologies reducing manufacturing complexity and costs.
• Increasing use of nickel-based superalloys for enhanced engine durability.
• Asia Pacific to emerge as fastest growing market region.
• North America retaining largest market share with European markets also strong.
• Sustainable manufacturing and serviceable material utilization gaining momentum.
• Challenges include raw material costs, supply chain complexities, and regulatory demands.

This evolving market reflects the aerospace sector's commitment to engineering excellence, environmental responsibility, and global connectivity, underlining the importance of aircraft engine forging in shaping the future of aviation.

For more detailed insights and strategic analysis, industry stakeholders are encouraged to continue monitoring technological developments and regional market dynamics impacting the aircraft engine forging sector.

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