South Korea Aviation Forgings Market was valued at USD 0.9 Billion in 2022 and is projected to reach USD 1.4 Billion by 2030, growing at a CAGR of 5.8% from 2024 to 2030.
The South Korea aviation forgings market is a critical component of the country's aerospace industry, driving innovations and meeting the ever-growing demands of the global aviation sector. Forgings in aviation applications are known for their strength, reliability, and precision, making them indispensable in the production of critical components like engine parts, landing gears, and structural components. The market continues to evolve, with increasing requirements from industries such as aerospace, defense, and commercial aviation.
In South Korea, the aviation forgings market plays a vital role in the advancement of aircraft technology. The country’s commitment to enhancing its aerospace capabilities has led to a surge in demand for high-performance forgings that can withstand extreme conditions. Forged parts are highly preferred in the aviation sector because they offer superior mechanical properties compared to cast components, which is essential for ensuring safety and performance.
Key industries such as commercial aviation, defense, and the growing space exploration sector have driven the demand for aviation forgings in South Korea. The commercial aviation sector, with airlines expanding their fleets and upgrading older aircraft, requires a steady supply of forgings for engine parts, turbines, and airframe components. Meanwhile, the defense sector’s need for high-strength, durable components for military aircraft, helicopters, and unmanned aerial vehicles (UAVs) further fuels market growth.
In addition, technological advancements in materials and forging techniques are reshaping the landscape of the South Korean aviation forgings market. Companies in the country are investing heavily in R&D to develop lighter, stronger, and more heat-resistant materials that can be used in aerospace applications. These advancements are paving the way for the development of next-generation aircraft components, such as more fuel-efficient engines and improved safety systems.
The aviation forgings market in South Korea is also impacted by the increasing focus on sustainability. As the demand for eco-friendly technologies in aviation rises, manufacturers are exploring the use of alternative materials and forging methods that reduce environmental impact without compromising the performance of the components.
To meet the needs of various industries, South Korea's aviation forgings market requires a highly skilled workforce, cutting-edge manufacturing facilities, and a robust supply chain. The sector's continued growth will be shaped by both domestic demands and global industry trends, positioning South Korea as a key player in the global aviation forgings market.
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AVIC Heavy Machinery Co.
Ltd.
CARLTON FORGE WORKS
Howmet Aerospace Inc
FRISA
DONCASTERS
Carmel Forge
Guizhou Aviation Technical Development CO.
LTD.
Wuxi Paike New Materials And Technology Co.
ltd.
Aubert & Duval
Safran
Precision Castparts Corp.
Xi'an Triangle Defense Co.
Ltd.
Forged Solutions Group
Hindustan Aeronautics Ltd
Aerospace Specification Metals
Inc.
VSMPO-AVISMA
Allegheny Technologies Incorporated
CHW Forge
Mettis Aerospace
Steel and Industrial Forgings Limited
Fountaintown Forge
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Aviation Forgings Market
Aluminum Alloys
Steel Alloys
Titanium Alloys
Nickel Alloys
Forged Rings
Forged Blocks
Forged Discs
Forged Shafts
Open Die Forging
Closed Die Forging
Precision Forging
Roll Forging
Aero Engines
Aero Structures
Navigational Equipment
Landing Gear Systems
Commercial Aviation
Military Aviation
General Aviation
Helicopter Manufacturing
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Aviation Forgings Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Aviation Forgings Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Aviation Forgings Market, By Type
6. South Korea Aviation Forgings Market, By Application
7. South Korea Aviation Forgings Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Aviation Forgings Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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