Aircraft Seamless Rings Market is Forecasted to Reach US$ 1.9 Billion in 2032, Says Stratview Research

Stratview Research, a global market research firm, has launched a report on the global aircraft seamless rings market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2023: US$ 1.16 billion

Market Size in 2032: US$ 1.9 billion

Growth (CAGR): 5.0% during 2024-2032

Cumulative Sales Opportunity 2024 to 2032: US$ 14.71 billion

Leading Application Type: Engine

Leading Aircraft Type: Commercial Aircraft

Leading Material Type: Nickel

Leading Component Type: Large Rings

Leading Region: North America

Forecast Period: 2024-2032

Trend Period: 2018-2022

Base Year: 2023

Number of Segments Covered: 5

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Aircraft Seamless Rings Market:

The global aircraft seamless rings market is segmented based on application type, aircraft type, material type, component type, and region.

Based on aircraft type –

·        The aircraft seamless rings market is segmented into commercial aircraft, regional aircraft, military aircraft, helicopters, and general aviation. 

·        Commercial aircraft is anticipated to dominate the aircraft seamless market in the coming years. Increasing passenger traffic, fleet modernization, and the pursuit of fuel efficiency are propelling the commercial aircraft segment forward. Notably, emerging markets, particularly in Asia-Pacific and the Middle East, are witnessing significant growth in air travel.

·        The expected increase in production rates of various commercial aircraft is poised to amplify market demand in the foreseeable future. Boeing's recent outlook (2023-2042) forecasts deliveries of approximately 42,595 commercial and regional aircraft over the next two decades, averaging over 2,130 aircraft annually. This surge in commercial aircraft deliveries is expected to diminish the demand for seamless rings.

Based on material type –

·        The market is segmented into nickel, titanium, stainless steel, and others. 

·        Nickel is expected to maintain its dominance, whereas titanium is expected to register the highest growth during the forecast period. Nickel is highly compatible with the demanding operational environments of aircraft engines due to its exceptional high-temperature strength and resistance to creep.

·        It retains its mechanical properties at elevated temperatures, which is vital for components exposed to hot gases and extreme thermal conditions. Nickel alloys offer improved protection against corrosion, ensuring the durability and dependability of aircraft engines, and exhibit superior electrical conductivity and magnetic characteristics.

Based on component type –

·        The market is segmented into large rings, medium rings, and small rings. 

·        Large rings are expected to remain the dominant and fastest-growing component type in the market during the forecast period. The demand for large rings is propelled during the forecast period due to the increase in the production of commercial aircraft.

·        These rings are typically forged from high-strength alloys to handle the intense pressure and scorching temperatures that jet engines endure. Unlike welded rings, their seamless construction eliminates weak points, boosting overall engine reliability and ensuring all the safety standards.

To know the most attractive segments, click here for a free sample of the report:

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Which region shows the most promising growth forecast and opportunity?

The analysis suggests that North America is likely to remain the most dominant region, whereas Asia-Pacific is expected to be the fastest-growing region during the forecast period. This growth outlook is mainly attributed to the following:

-      The aerospace industry in North America is characterized by its strength and resilience, hosting key engine manufacturers and original equipment manufacturers (OEMs) within the region.

-      Notably, companies like General Electric, Pratt & Whitney, and Rolls-Royce maintain substantial operations and a formidable presence in North America. Their activities fuel the demand for aircraft seamless rings.

-      Most of the seamless ring suppliers have their presence in the region to address the emergent needs of OEMs and to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.

Aircraft Seamless Rings Market Drivers:

Some of the key drivers listed in the report are given below.

-      Recovery in air passenger traffic.

-      Rising aircraft fleet size.

-      Rising military expenditure.

-      Aging aircraft fleet size.

Competitive Landscape: Top 10 Companies in the Aircraft Seamless Rings Market:

The market is moderately fragmented, with over 20 players. Most of the major players compete on some of the governing factors, including price, service offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players:

-         Precision Castparts Corporation (PCC)

-        Howmet Aerospace

-        Frisa

-        Forgital Group

-        Otto Fuchs KG (Weber Metals)

-        AVIC Heavy Machinery Co., Ltd.

-        ATI Inc.

-        Voestalpine AG

-        Anchor Harvey.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the aircraft seamless rings market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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About us –

Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to make convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

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