Middle East and Africa Aircraft Engine Forging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Forging Type (Closed Die Forging and Seamless Rolled Ring Forging), Material Type (Nickel Alloys and Titanium Alloys), and Application (Fan C

Middle East and Africa Aircraft Engine Forging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Forging Type (Closed Die Forging and Seamless Rolled Ring Forging), Material Type (Nickel Alloys and Titanium Alloys), and Application (Fan Case, Combustion Chamber Outer Case, Turbine Disc, Rotors, and Others)

The aircraft engine forging market in the MEA is expected to grow from US$ 127.54 million in 2021 to US$ 158.18 million by 2028; it is estimated to grow at a CAGR of 3.1% from 2021 to 2028.

Although the production and procurement of airplanes are rising substantially with continuous increase in air travel, ~400-600 commercial aircraft units are retired, ruled out (due to age), and disassembled each year, which creates a heap of waste. Such a massive amount of waste includes ~1,000 tonnes of carbon fiber, 1,800 tonnes of alloys, 30,000 tonnes of aluminum, and 600 tonnes of other scrap materials. With rising concerns about the environment, aerospace companies such as Pratt & Whitney, along with government bodies, have identified new ways to replace the existing, newly sourced raw materials for the manufacturing of aerospace parts with recycled and renewable materials. Thus, efforts by various countries for escalating the use of USM are likely to drive the aircraft engine forging market during the forecast period.

The MEA aircraft engine forging market is majorly affected by the disruption in the supply chain. Pertaining to the closure of borders of countries, the supply chain of several components and systems have been disturbed. The demand for advanced aerospace technologies such as aircraft engines and engine components has declined. This has resulted in a loss of business among the aircraft engines and aircraft engine forged components market players offering their products to respective customers in the MEA region. South Africa has few aircraft manufacturers, which produce general aviation piston aircraft. The widespread COVID - 19 virus has led the manufacturers to suspend their operations or operate with a minimal workforce temporarily. This has weakened the demand for engine and engine forged components, thereby hindering the aircraft engine forging market in the country. Additionally, the disruption in the supply chain business owing to the trade ban has also reflected adverse effects on the aircraft engine forging market in the country.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the aircraft engine forging market. The MEA aircraft engine forging market is expected to grow at a good CAGR during the forecast period.

MEA Aircraft Engine Forging Market Revenue and Forecast to 2028 (US$ Million)

MEA Aircraft Engine Forging Market Segmentation

MEA Aircraft Engine Forging Market - By Forging Type

Closed Die Forging Seamless Rolled Ring Forging MEA Aircraft Engine Forging Market - By Material Type

Nickel Alloy Titanium Alloy MEA Aircraft Engine Forging Market - By Application

Fan Case Combustion Chamber Outer Case Turbine Disc Rotors Others MEA Aircraft Engine Forging Market- By Country

Saudi Arabia UAE South Africa Rest of MEAMEA Aircraft Engine Forging Market-Companies Mentioned

Allegheny Technologies Incorporated Doncasters Group Farinia Group LISI Group Otto Fuchs KG Precision Castparts Corp. Safran VSMPO-AVISHMA Corporation

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA aircraft engine forging market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the MEA aircraft engine forging market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the aircraft engine forging market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution