The global aircraft engine forging market is projected to grow to $5.96 billion by 2031 from $3.78 billion in 2024, driven by rising aircraft engine production, fleet modernisation efforts and increasing demand for fuel-efficient aviation technologies.
According to a report published by The Insight Partners, the market is expected to register a compound annual growth rate of 6.84% between 2025 and 2031 as commercial aviation, defence programmes and engine manufacturers increase production capacity globally.
The report said advanced forging technologies and the growing use of high-performance aerospace materials are reshaping engine manufacturing requirements across commercial and military aviation sectors.
Forged engine components remain critical for aircraft reliability, durability and performance under extreme operating conditions.
The report identified rising aircraft engine production as one of the primary growth drivers for the forging market.
Expanding passenger traffic, particularly in emerging aviation markets, has accelerated airline investment in new aircraft and more fuel-efficient fleets.
As a result, engine manufacturers are increasing output to meet demand for both new aircraft deliveries and aftermarket spare parts.
According to the report, Cirium data showed a notable increase in aircraft engine production activity during 2025.
Key production indicators cited included:
The report said forged components such as turbine discs, shafts and compressor blades remain essential because of their strength, fatigue resistance and ability to withstand high temperatures.
Unlike cast or machined parts, forged materials provide grain structures capable of supporting advanced engine performance requirements.
The aviation sector’s focus on fuel efficiency and emissions reduction is also increasing demand for specialised forging technologies.
According to The Insight Partners report, techniques such as:
allow manufacturers to produce lighter and more complex engine components with tighter tolerances and reduced machining requirements.
The report noted that modern commercial and military aircraft engines increasingly depend on forged parts to achieve higher efficiency and operational reliability.
The growing use of nickel-based superalloys and titanium alloys is also influencing production trends across the aerospace supply chain.
Among material categories, the titanium alloy segment dominated the market in 2024, according to the report.
Military aviation programmes are also contributing to forging demand as defence manufacturers pursue upgraded propulsion systems and next-generation combat aircraft.
The report highlighted that military engines require forged components capable of performing under extreme operational stress.
In September 2024, RTX’s Pratt & Whitney secured a contract worth up to $1.3 billion to support the F135 Engine Core Upgrade programme for the F-35 Block 4 fighter platform.
The report said such programmes continue driving demand for advanced forged engine parts across defence aerospace supply chains.
The increasing use of Used Serviceable Material, commonly known as USM, is also reshaping the aircraft engine forging market.
According to the report, airlines and maintenance providers are increasingly turning to reusable certified engine components to lower maintenance costs and manage supply chain pressures.
Examples cited in the report included:
The report said refurbishment and re-certification of used engine parts is creating fresh demand for precision re-forging and remanufacturing processes.
Forging companies are therefore expanding capabilities linked to sustainability and circular economy practices within aviation maintenance operations.
Geographically, North America accounted for the largest market share in 2024, followed by Asia Pacific and Europe.
However, the report projected that Asia Pacific will record the highest growth rate during the forecast period, supported by rising airline expansion, increasing aircraft deliveries and growing aerospace manufacturing activity across the region.
The commercial aircraft category remained the largest segment in 2024, reflecting strong airline fleet demand worldwide.
The combustion chamber outer case segment also led the market by application.
The report said competition within the aircraft engine forging industry is expected to remain intense as aerospace manufacturers increase procurement volumes and suppliers expand capabilities.
Major companies operating in the market include:
The report also highlighted recent aerospace manufacturing agreements involving Safran Aircraft Engines, including partnerships with Hindustan Aeronautics Limited in India and Forgital Group.
The long-term outlook for aircraft engine forging remains closely linked to global aircraft demand, fleet replacement cycles and next-generation propulsion technologies.
As airlines pursue more efficient aircraft and defence programmes expand globally, demand for forged aerospace components is expected to remain strong across commercial, military and maintenance markets.
The report concluded that advances in forging technologies, rising aircraft production and increasing demand for high-performance engine materials will continue shaping the competitive landscape of the aerospace manufacturing industry through the end of the decade.
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