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Aircraft Engine Casting Market Analysis | 2024-2032
Aircraft Engine Casting Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2024-2032
Casting is the process of creating critical engine parts by pouring molten metal into a mold shaped like the desired part. Casting is an efficient and cost-effective way to produce components that are strong, durable, and highly accurate. Some of the critical parts in an Aircraft that are made with casting are the engine block, turbine blade, compressor blades, impellers, and housings.
The aircraft engine casting market is expected to grow with a CAGR of 4% during the forecast period to reach US$ 13.2 billion by 2032. The market for aircraft casting is fuelled by increasing commercial aircraft production supporting engine production. Casting remains one of the most pivotal roles in metal part fabrication.
The aircraft engine casting market is estimated to grow at a CAGR of 4% by 2032, driven by the recovery in commercial aircraft production and rising aircraft fleet size.
The investment casting process will offer high-growth opportunities in the coming years. The winning combination of precision, material versatility, and the ability to handle complex geometries positions investment casting as the preferred choice for producing high-performance airfoils and other critical engine parts.
North America is expected to lead the aircraft engine casting market in the coming years. The region has an established industry infrastructure, a highly skilled workforce, and a deep understanding of casting techniques and material properties. Casting companies in North America have established relationships with leading engine OEMs. Major engine manufacturers like Pratt & Whitney and GE are headquartered in North America.
Asia-Pacific is expected to be the fastest-growing market for aircraft engine casting, the region is driven by a combination of factors like surging aircraft demand, cost competitiveness, and government support. The region is well-positioned to become a major player with increasing market participants and the development of an indigenous supply chain.
Howmet Aerospace, Precision Castparts Corp., Consolidated Precision Products, Doncasters Group, Chromalloy Gas Turbine LLC, Hitchiner Manufacturing, Impro Industries USA, Inc., MetalTek International, and ZOLLERN GmbH & Co. KG are the leading players in the aircraft engine casting market.
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