Market Highlights
Hot Isostatic Pressing (HIP) is a manufacturing and materials processing technique used to enhance the properties of materials, particularly metals and alloys. It involves subjecting a material to high temperatures and pressures simultaneously to achieve specific improvements in its structure and properties. During the hot isostatic pressing process, the material is enclosed in a sealed container and heated to elevated temperatures, often in the range of 900 to 1,200 degrees Celsius (1,652 to 2,192 degrees Fahrenheit). Simultaneously, high gas pressure, typically argon or other inert gases, is applied uniformly from all directions, exerting an isostatic pressure on the material.
HIP plays a critical role in the aerospace industry by enabling the production of high-performance, reliable components with optimized material properties, complex geometries, and superior structural integrity. As aerospace technologies continue to advance and demand for lightweight, high-strength materials grows, HIP will remain an essential manufacturing process for meeting the evolving needs of the aerospace industry.
The aerospace hot isostatic pressing market is likely to rebound at a promising CAGR of 4.9% in the long run to reach US$ 217.3 Million in 2032. The growth of the global commercial aerospace market, driven by increasing air travel demand, fleet expansion, aircraft modernization programs, and growing interest in space exploration and satellite deployment is expected to fuel the demand for HIP-treated components. As the aerospace industry continues to evolve and expand, HIP technology will play a vital role in meeting the evolving needs and challenges of aerospace manufacturing and production. Furthermore, the escalating demand for advanced materials with superior mechanical properties propels the widespread adoption of HIP.
In March 2021, Bodycote, the world's largest thermal processing provider, is set to expand its Hot Isostatic Pressing (HIP) capability in Greenville, South Carolina, the USA, with the new capacity, expected to be online in the first half of 2022, emphasizing advancements in additive manufacturing and advanced materials.
Market Segment Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Platform-Type Analysis
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Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, UAV, and Spacecraft
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Commercial aircraft is anticipated to remain the biggest demand generator in the years to come.
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Source-Type Analysis
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Captive/In-House and Outsource
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Outsourcing will be the dominant source type in the market during the forecasted period.
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Regional Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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North America is expected to remain the largest market over the next five years, whereas Asia-Pacific is likely to grow at the fastest rate.
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Based on the platform type, the aerospace hot isostatic pressing market is segmented into commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, UAV, and spacecraft. Commercial aircraft are expected to remain the largest platform type in the market. With the growth of the global commercial aerospace market, the demand for the HIP process is expected to increase as HIP plays a pivotal role in the manufacturing of critical components for commercial aircraft by consolidating materials, eliminating voids, and enhancing structural integrity. The demand for lightweight and high-performance materials in the commercial aerospace industry drives the extensive use of HIP, as it allows us to produce components with superior mechanical properties. The technology's ability to create homogenous materials with enhanced strength, ductility, and fatigue resistance is particularly crucial for commercial aircraft, where stringent regulations, fuel efficiency, and safety standards are paramount.
Based on the source type, the market is segmented into captive/ in-house and outsource. Outsourcing is expected to remain the dominant source in the market during the forecast period. HIP is primarily attributed to the specialized nature of HIP processes and the economic advantages associated with leveraging external expertise. Outsourcing allows companies to access state-of-the-art HIP facilities and technologies without the significant upfront investments required for in-house setups. Additionally, HIP technology demands a high level of precision and expertise, and outsourcing to specialized providers ensures access to skilled professionals and specialized equipment. This approach enables companies to focus on their core competencies while leveraging the capabilities of established HIP providers, resulting in cost-effectiveness, increased operational flexibility, and efficient utilization of resources.
In terms of regions, North America is expected to remain the largest market for aerospace hot isostatic pressing during the forecast period. North America boasts a mature and highly advanced aerospace industry infrastructure, comprising leading aerospace OEMs, suppliers, research institutions, and technology providers. The region's robust aerospace ecosystem facilitates the adoption and integration of advanced manufacturing technologies such as HIP into aerospace production processes, driving the growth of the HIP market. In addition to that, North America is home to the major aerospace players, with the United States leading in aircraft production, defense spending, and space exploration initiatives.
Key Players
The following are the key players in the aerospace hot isostatic pressing market:
- Bodycote Plc
- Howmet Aerospace
- Carpenter Technology Corporation
- Aalberts Surface Technologies
- Precision Castparts Corporation
- Paulo
- Quintus Technologies
- Kobe Steel Limited
- Vacuum Process Engineering
- American Isostatic Presses Incorporation
Research Methodology
This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s aerospace hot isostatic pressing market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for existing and new players
- Key success factors
The aerospace hot isostatic pressing market is segmented into the following categories.
Aerospace Hot Isostatic Pressing Market, by Platform Type
- Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- UAV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Spacecraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerospace Hot Isostatic Pressing Market, by Source Type
- Captive/ In-House (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Outsource (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerospace Hot Isostatic Pressing Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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