Aerospace Forging Materials Market Size & Share 2025 - 2034

Aerospace Forging Materials Market Size

The global aerospace forging materials market size was estimated at USD 12.8 billion in 2024 and is estimated to grow at 5.8% CAGR from 2025 to 2034.

Among the numerous causes of this rising requirement is the increased emphasis laid on the performance of materials. The aerospace industry requires pieces to withstand the extreme operational conditions such as high temperature, pressure, and dynamic load. Forged materials that possess superior mechanical strength, fatigue resistance, and durability have become a significant rising contributor.
 

In addition, preference for forged components overcast or machined counterparts keeps increasing regarding their better structural integrity and reliability. Forged parts are simpler to be defective and have better metallurgical properties which are essential for safety-critical aerospace applications such as landing gear, engine mounts, turbine disks, and structural fuselage components.
 

Particularly weight reduction in aircraft design is another growth factor. The lighter the aircraft, the more it contributes to fuel efficiency, along with low emissions-two priorities that airlines and manufacturers should respond to with global sustainability goals. This speeds up the penetration of advanced alloys and composite-compatible metals into forging applications, specifically titanium and aluminum alloys, known for high strength-to-weight ratios.
 

According to Statista Consumer Insights, global military spending between 2001 and 2020 increased by roughly 74%, reaching just under two trillion U.S. dollars in 2020. Consequently, the size of the military aircraft and aerospace manufacturing market increased steadily.
 

Aerospace Forging Materials Market Trends

• Digitalization of Forging Processes: AI-based scrutiny within Industry 4.0 tools, real-time monitoring and digitized simulations boost forging accuracy by lowering down time while ensuring that quality standards are met.
   
• Rising Demand for Titanium Alloys: With excellent strength-to-weight ratio and corrosion resistance, titanium alloys are being increasingly used for aircraft engines, landing gears, and structural components. With an increase in the production of fuel-efficient aircraft, the demand for forged titanium parts is rising rapidly.
   
• Emergence of Hybrid and Composite Forging Materials: An emergence of hybrid compounds and composite forging materials: Cutting-edge developments in hybrid composite-metal and fiber-reinforced materials have been increasingly researched for lighter, high-performance aircraft parts.
   

Tariff Impact

New tariffs were imposed by the Trump administration on March 2025, including a 25% duty for steel and aluminum imports that directly affected the aerospace forging materials market. This action moved the prices for some important input materials-such as titanium, aluminum, and specialty steels, which are vital for aerospace components-into a sharp upward trend.
 

Since the U.S. already does not have sufficient domestic capacity to meet demand, aluminum premiums shot up almost 60%, thus putting enormous cost pressures on manufacturers. Perturbation also affected global supply chains, which contribute to aerospace production, considering that tariffs extended to significant imports coming from Canada, Mexico, and China. According to RTX Corporation and GE Aerospace, the two aerospace giants, increased operational costs will record show they will lose between USD 850 million and USD 500 million, respectively.
 

Now, these firms look for mitigating approaches such as increasing prices and reshuffling their supply chains. Other international retort tariffs like those of China, which includes a 125% duty, have placed additional burdens on the already strained international trade relations, with IMF downgrading the world's growth projection to 2.8% for 2025. Respondents also indicate they reconsider routing some aircraft order deliveries from Chinese buyers to other markets to meet planned schedules in addition to reduced impact of retaliatory trade barriers, such as those instituted by Boeing.
 

Aerospace Forging Materials Market Analysis

In 2024, market based on material type is segmented into titanium alloys, aluminum alloys, steel alloys, nickel-based alloys, magnesium alloys, and others. This market value is accounted for USD 12.8 billion in 2024 and anticipated to rise till staggering value of USD 22.2 billion till 2034. Among which titanium alloys segment accounted for 33.2% of total market.
 

• Titanium alloys continue to drive the market with their excellent strength-to-weight ratio, high corrosion resistance, and suitability to high-performance aircraft structures and engines. Their dominance signifies the growing trend toward lightweight and durable materials for both commercial and defense aviation.
   
• In 2023, the estimated global market size of the global airline industry was USD 762.8 billion. This was considerably higher than the values registered during the coronavirus pandemic years, driving the demand of forging materials significantly.
   
• Aluminum alloys are frequently used for low cost and good formability, especially for airframes and the structural components of single-aisle airplanes. Although steel alloys are generally quite heavy, high load applications such as landing gears also tend to use them because of their strength and fatigue resistance.
   

In 2024, the aerospace forging materials market in forging technique is primarily segmented into closed die forging, open die forging, roll forging, precision forging, and others. Which is dominated by closed die forging segment, holding 45.4% market share, because of benefits like superior dimensional accuracy, repeatability, and the ability to manufacture complex high-strength aerospace components such as turbine disks or structural parts.
 

• Open die forging comes second as the most prominent segment, heavily used for large, heavy-duty components like shafts and rings, which require a higher mechanical integrity.
   
• Roll forging is mainly concerned with the manufacture of long, flat parts, with consistent grain flow. Precision forging technology grabs the attention of many manufacturers because it minimizes raw material wastage and machining requirements for near-net-shape products.
   
• It is projected that the revenue of forging, pressing, stamping and roll-forming of metal, powder metallurgy in Italy will amount to approximately USD 14.85 billion by 2025, contributing significantly to global market.

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In 2024, based on application, the aerospace forging materials market is segmented into engine components, airframe components, landing gear components, transmission and rotor components, control surfaces, and others. Airframe components holding 32.5% of the market share.
 

• Airframe components occupy significant market share mainly due to extensive use of forged material in structural assemblies like fuselage frames, spars, and bulkheads.
   
• Another section bears engine components, which contain forged material parts for high-stress, high-temperature components that constitute turbine disks, shafts, and compressor blades. Moreover, landing gear components require high-impact resistance and durability therefore, both forged steel and titanium alloys are also recommended.

Increased use of advanced aerospace manufacturing infrastructure, an expanding defense budget, and dominant aircraft manufacturers such as Boeing, Lockheed Martin, and Northrop Grumman have been some of the key drivers of potent growth in the aerospace forging materials industry over the course of the US market in 2024.
 

The U.S. has significant share in the global aerospace forging materials market, holding 17.8% share of the market which estimates to USD 2.3 billion in 2024 and anticipated to rise till USD 4.1 billion by 2034.
 

• The U.S. aerospace industry is critical to the economic health and strategic strength of the nation. The industry's wide-ranging activities including aircraft manufacturing and commercial aviation make it a major contributor to U.S. economic growth. The Aerospace Industries Association estimates that the industry employs approximately 625,000 people with sales of approximately USD 170 billion in 2005.
   
• Asia Pacific holds a significant share in the aerospace forging materials market. Currency can exchange at an increased rate due to rapid indigenous air growth, soaring national defense expenditures, and the formation of home-grown aircraft manufacturing programs in countries like China and India.
   
• In the Aircraft market, the number of deliveries is projected to amount to 669 in Asia-Pacific in 2025. This shows the increasing demand for materials that are used in aircraft manufacturing in the region, further accelerating the growth of the market.
   

Aerospace Forging Materials Market Share

The competitive environment in the market is driven by the key players such Precision Castparts Corp., Arconic Corporation, Allegheny Technologies Incorporated (ATI), VSMPO-AVISMA Corporation, Bharat Forge Limited, KOBE STEEL, LTD., and Nippon Steel Corporation, operating with different strategies to hold their positions in the market.
 

• The aerospace forging materials market is led by Precision Castparts Corp. due to the vertically integrated operations, extensive alloy capabilities, and vigor of partnerships with OEMs such as Boeing and Airbus.
   
• Arconic Corporation remains focused on light aluminum and titanium alloys for fuel-efficient aircraft, with greater emphasis now on defense contracts.
   
• VSMPO-AVISMA, the world's main titanium supplier, is strong on long-term contracts and specializes in titanium forgings for engine and structure applications. Bharat Forge is using low-cost manufacturing in India to export its activities to high-value engine and airframe parts.
   
• Both KOBE STEEL and Nippon Steel Corporation have strengthened their competitiveness through regional alliances, accompanied by heightened research and development in advanced alloys.
   

Aerospace Forging Materials Market Companies

The market encompasses numerous significant and prominent players applying diverse strategies to expand their market presence and offering values for chemical solutions.
 

• Plymouth Tube manufactures specialized seamless stainless steel and titanium tubing, used in aircraft hydraulic lines and structural components. Its emphasis on maintaining quality and consistency during manufacture led to the introduction of products for high-temperature and high-pressure aerospace systems.
   
• Alcoa is a strong hand in aerospace with aluminum forgings and extrusions, applying its legacy of metallurgical innovation in support of aircraft structural applications and lightweight design trends. With sustainability in its focus, Alcoa is emphasizing low-carbon smelting processes and recycled content in its production.
   
• Reliance Steel & Aluminum Co. is a principal distributor in the aerospace materials marketplace through its many subsidiaries. It supplies a complete line of specialty alloys, including aluminum, titanium, and nickel, performing just-in-time delivery and value-added processing for aerospace fabricators. Its acquisition strategy has reinforced its regional and international distribution network.
   
• Barry A. Dorfman & Co. is a specialized distributor of titanium and nickel-based alloys for aerospace applications. The company earned its reputation as a preferred supplier for small-to-mid-sized aerospace manufacturers based on rapid sourcing, flexible ordering of volumes, and tailored logistics support.
   
• Rickard Specialty Metals Supply & Engineering offers high-performance materials for aerospace engines and structural applications. With a reputation for deep metallurgical expertise, Rickard provides the necessary custom forging stock, heat treatment, and bar conversion services to meet niche aerospace forging applications in a consultative manner.
   
• Bergsen Metals has been supplying alloy and stainless-steel products for quite some time, mainly supporting aerospace forging companies with round bars, flat bars, and precision-cut materials. The company endeavors to take prime focus on domestic sourcing, competitive pricing, and ready inventory made available for quick delivery.
   

Aerospace Forging Materials Industry News

• On 8th April 2025 industry sources stated, planemakers, airlines and suppliers are combing through billions of dollars worth of contracts to check their exposure to tariffs after a major U.S. supplier sparked debate over who should pay for an emerging trade war.
   
• In February 2025, IBEF reported that India is on the fast track of development in its aerospace sector. Major global players such as Airbus, Collins Aerospace, Pratt & Whitney, and Rolls-Royce are increasing their parts sourcing from the country, opening avenues for companies like Hical Technologies and JJG Aero based in Bengaluru. Hical aims to double its aerospace revenue to Rs. 500 crore (USD 57.57 million) in three years.
   
• In December 2024, Stonepeak, an infrastructure and real assets-focused alternative investment manager, announced that it had entered into a definitive agreement to acquire Forgital Group ("Forgital" or the "Company"), a leading manufacturer of advanced forged and machine-finished components for the aerospace and industrial end markets, from global investment firm Carlyle.
   
• In October 2024, spin-off of the Advanced Materials Business into a separate public entity planned by Honeywell was aimed at further sharpening strategic focus and agility within its core operations.
   

The aerospace forging materials market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Billion and volume in kilo tons from 2021 – 2034 for the following segments:

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Market, By Material Type

• Titanium alloys
• Aluminum alloys
• Steel alloys
• Nickel-based alloys
• Magnesium alloys
• Others

Market, By Forging Technique

• Closed die forging
• Open die forging
• Roll forging
• Precision forging
• Others

Market, By Application

• Engine components
• Airframe components
• Landing gear components
• Transmission and rotor components
• Control surfaces
• Others

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy 
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea 
• Latin America
  • Brazil
  • Mexico
  • Argentina 
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE