Middle East and Africa Aircraft Engine Forging Market
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 Segmentation
Strategic insights for the Middle East and Africa Aircraft Engine Forging provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 127.54 Million |
| Market Size by 2028 | US$ 158.18 Million |
| Global CAGR (2021 - 2028) | 3.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Forging Type
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East and Africa Aircraft Engine Forging refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Middle East and Africa Aircraft Engine Forging Market is valued at US$ 127.54 Million in 2021, it is projected to reach US$ 158.18 Million by 2028.
As per our report Middle East and Africa Aircraft Engine Forging Market, the market size is valued at US$ 127.54 Million in 2021, projecting it to reach US$ 158.18 Million by 2028. This translates to a CAGR of approximately 3.1% during the forecast period.
The Middle East and Africa Aircraft Engine Forging Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Aircraft Engine Forging Market report:
The Middle East and Africa Aircraft Engine Forging Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Aircraft Engine Forging Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Aircraft Engine Forging Market value chain can benefit from the information contained in a comprehensive market report.
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