Aircraft Engine Forging Market Forecast (2021-2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Forging Type (Closed Die Forging and Seamless Rolled Ring Forging), Aircraft Type (Commercial Aircraft, Military Ai

The aircraft engine forging market size was valued at US$ 3,787.15 million in 2024 and is projected to reach US$ 5,966.86 million by 2031; it is expected to grow at a CAGR of 6.84% during 2025-2031.

Advanced technological capabilities, high demand for performance-driven materials, and the presence of leading global manufacturers characterize the US aerospace and defense industry. This market is driven primarily by the continued growth in commercial aviation, military aircraft modernization programs, and the increasing emphasis on fuel efficiency and engine performance. The US is home to major engine OEMs (original equipment manufacturers) such as General Electric Aviation, Pratt & Whitney, and Rolls-Royce North America, which depend heavily on high-strength forged components for turbine engines. Forgings are used extensively in producing engine discs, shafts, rings, and other high-stress components due to their superior mechanical properties and reliability under extreme conditions. The US market benefits from a well-established supply chain, robust R&D infrastructure, and supportive government defense contracts, particularly through the Department of Defense and NASA. Further, technological advancements in precision forging, additive manufacturing integration, and the development of next-generation alloys enhance the competitiveness of the US forging industry in the global aerospace market.

The Asia-Pacific region plays a crucial role in the global aircraft engine forging industry, driven by the region's expanding aerospace sector and rising demand for commercial and military aircraft. China, India, Japan, and South Korea heavily invest in aerospace manufacturing infrastructure, including advanced forging capabilities for producing high-performance engine components such as turbine discs, shafts, and compressor blades. China's state-backed aerospace programs and India's Make in India initiative have spurred local development and foreign collaborations, boosting domestic forging capacities. Meanwhile, Japan and South Korea continue to lead in high-precision forging technologies, supplying components for major engine manufacturers such as Rolls-Royce, GE Aviation, and Pratt & Whitney. The region benefits from a robust supply chain, lower labor costs, and government incentives that attract global OEMs and tier-1 suppliers. As aircraft orders surge to meet growing travel demand and fleet modernization, the Asia-Pacific aircraft engine forging market is witnessing sustained growth, technological advancement, and increased localization of critical component manufacturing.

Throughout 2024, industry engagements intensified. India's Safran-HAL joint venture began producing critical turbine parts for the LEAP engine, expanding Bengaluru and Hyderabad assembly plants. Godrej Aerospace and Azad Engineering advanced India's indigenous Kaveri derivative engine program: Godrej delivered early modules in April 2025, following initial manufacturing in 2023, with full deliveries by August 2025. South Korea's Hanwha Aerospace announced plans to develop a KF 21 fighter engine by 2036, supported by a ₩5 trillion (~ US$ 3.7 billion) investment and new R&D and factory infrastructure. In 2025, the momentum continues. Queensland, Australia, augmented its regional role by expanding its MRO infrastructure to include engine overhauls, aiming to serve the regional fleet, which is projected to grow by 4% annually. Additionally, India began receiving GE-404 engines for its LCA Mark 1A fighter program, with 12 units expected this financial year.

All Metals & Forge Group; OTTO FUCHS KG; Pacific Forge Incorporated; Precision Castparts Corp.; Safran SA; VSMPO-AVISMA Corp; Farinia Group; Doncasters Group; LISI GROUP; and Allegheny Technologies are among the key aircraft engine forging market players that are profiled in this market study.

The overall aircraft engine forging market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the aircraft engine forging market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the aircraft engine forging market.

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