In a recent market analysis report released by Growth Market Reports, titled “Global Aerospace Casting Product Market Segments – By Material (Steel, Aluminum, Cobalt, Nickel, Titanium, Magnesium, and Others), By Casting Type (Investment Casting and Sand Casting), and Region: Size, Share, Trends, and Opportunity Analysis, 2023-2031,” the aerospace casting product market exhibited a valuation of USD 15.89 billion in 2022. It is anticipated to expand significantly to reach USD 25.95 billion by the conclusion of 2031, reflecting a robust Compound Annual Growth Rate (CAGR) of 5.6%. This growth is attributed to the increasing demand within the aircraft manufacturing sector, poised to drive market expansion in the forthcoming years.
The report presents profiles of key market players in this industry:
- Aero Metals
- American Casting Company
- Atlantic Casting and Engineering Corporation
- Barron Industries
- Bescast, Inc
- Cabiran
- Consolidated Precision Products
- Doncasters Group
- Ferralloy Inc
- GF Casting Solutions
- Howmet Aerospace
- Impro Precision Industries Limited
- Integra-Cast, Inc
- Magellan Aerospace Corporation
- MetalTek
- O’Fallon
- Ohio Aluminum Industries, Inc
This comprehensive report encompasses a wealth of data on emerging trends, market drivers, growth prospects, and limitations that have the potential to reshape the dynamics of the market. It offers an extensive examination of the market segments, including material, casting type, and competitor analysis.
Furthermore, this report includes a thorough assessment of industry participants, covering their latest advancements, product portfolios, pricing strategies, merger and acquisition activities, and collaborative ventures. Additionally, it elucidates the pivotal strategies adopted by market players to bolster their market share.
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Key Highlights on Market Segments:
- Regional Classification: The global aerospace casting product market is categorized based on regions, comprising North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is forecasted to maintain its dominance in the global market due to the presence of major manufacturers in the region. Meanwhile, the Asia Pacific region is anticipated to experience rapid growth in the global market over the projected period, driven by increased investments in aerospace and spacecraft manufacturing.
- Key Takeaways from the Study:
- Casting is a process involving the pouring of molten metal into a mold with a hollow cavity of the desired shape.
- Casting results in the production of metal materials of diverse sizes and forms, imparting strength and rigidity.
- The rising demand for casted products is expected to propel the global aerospace casting product market during the forecast period.
- Increasing demand for additive manufacturing is poised to boost the market in the coming years.
- Automation and state-of-the-art equipment are anticipated to create lucrative opportunities for market players.
- The steel segment is projected to exhibit the fastest CAGR during the forecast period, owing to the mechanical properties of steel products, such as tensile strength, hardness, weldability, corrosion resistance, thermal expansion, and ductility.
- The investment casting segment is expected to maintain a significant market share due to the rapid development of the global aerospace and military industries.
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Key Segments Covered:
Material
- Steel
- Aluminum
- Cobalt
- Nickel
- Titanium
- Magnesium
- Others
Casting Type
- Investment Casting
- Sand Casting
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Their key analytical services encompass market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth and decline forecasting, primary interviews, and secondary research coupled with consumer surveys.
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