Airfoil Market Report

Attractive Opportunities

Global Demand Analysis & Sales Opportunities in Airfoil Market

• The annual demand for airfoil was USD 7.6 billion in 2024 and is expected to reach USD 8.0 billion in 2025, up 8.8% than the value in 2024.
• During the forecast period (2025 to 2032), the airfoil market is expected to grow at a CAGR of 3.2%. The annual demand will reach of USD 10.0 billion in 2032.
• During 2025-2032, the airfoil industry is expected to generate a cumulative sales opportunity of USD 75.42 billion.

High-Growth Market Segments:

• North America is expected to remain the dominant market over the forecasted years, whereas Asia-Pacific is likely to grow at the fastest rate.
• By Industry type, Aircraft Industry is anticipated to remain the dominant as well as the fastest-growing segment during the forecast period.
• By Application type, Blade is anticipated to remain dominant in the market over the coming years.
• By Material type, Nickel is anticipated to remain dominant, whereas Titanium is expected to be the fastest-growing material type in the market during the forecast period.
• By End-Use type, OE is expected to maintain its dominance during the forecast period and is likely to be the fastest-growing end-user during the same period.

Market Statistics

Have a look at the sales opportunities presented by the airfoil market in terms of growth and market forecast.

Market Dynamics

Introduction:

What is an airfoil?

An airfoil is a streamlined shape designed to interact efficiently with airflow and generate lift. It is commonly used in the cross-sectional design of airplane wings, helicopter rotor blades, propellers, and turbine blades. The typical airfoil has a curved upper surface and a flatter lower surface, which creates a difference in air pressure as air flows around it. This pressure difference results in an upward force known as lift, which is essential for flight and other aerodynamic applications.

Airfoils come in various designs depending on their purpose. For example, cambered airfoils, which have a curved shape, are efficient at producing lift at lower speeds, while symmetrical airfoils, which are identical on both sides, are used in applications where stability and maneuverability are more important. Engineers carefully design and test airfoils to balance lift, drag, and stability, making them crucial in aviation, wind energy, and fluid machinery.

Segment Analysis

By Industry Type

“The aircraft industry is anticipated to remain the dominant as well as the fastest-growing segment during the forecast period.”

• The airfoils market is segmented into aircraft and industrial gas turbines. The aircraft industry is anticipated to be the dominant as well as the fastest-growing segment in the coming years. Almost all the major airframers have announced to raise the production rates of their key programs. Supply chain disruption, labor shortage, inflation, etc., remain the major factors, increasing difficulties in achieving those targets.
• For instance, Boeing is targeting to produce an average rate of between 33 and 38 737s per month for 2023 (a total of about 400-450 units for the year), lower than that of its earlier projections (38 units per month in the first half of 2023 and 47 units per month by the end of 2023). Airbus forecasts the demand for new 39,490 passenger and freighter aircraft and air passenger traffic to increase by 3.6% annually over the next two decades. Similarly, Boeing anticipates that about 41,170 commercial and regional aircraft are likely to be delivered in the next 20 years.

By Application Type

Blade is anticipated to remain the biggest application of the market in the years to come.”

• The airfoils market is segmented into blades, vanes, shrouds, and others. Blade is expected to remain dominant, whereas vanes is expected to be the fastest-growing application type in the market during the forecast period. Blade erosion increases fuel consumption and power loss. High temperature, dust, moisture, and pollution affect the efficiency of blades. As a result, blades require regular maintenance and replacement.

By Material Type

“Nickel is anticipated to remain dominant, whereas titanium is expected to be the fastest-growing material type in the market during the forecast period.”

• The market is segmented into nickel, titanium, stainless steel, and others. Nickel is expected to be the dominant material type in the market during the forecast period. Nickel is widely employed since it is durable and functional even at high temperatures. Titanium is expected to be the fastest-growing material type in the market during the forecast period. Titanium has the exceptional ability to meet strict aerospace constraints owing to its nearly perfect mix of low weight and great strength.

By End-User Type

“OE is anticipated to remain dominant, whereas aftermarket is expected to be the faster-growing segment of the market during the forecast period.”

• The market is segmented into OE and aftermarket. OE is expected to be the dominating segment in the airfoils market during the forecast period, due to increasing production rates of important programs like the B737 and A320 family, and the entry of new competitors like COMAC. Aftermarket is expected to be the fastest-growing segment in the coming years, owing to the expanding fleet of commercial aircraft and the rising demand for improved lightweight components, which prompt the replacement of old components with advanced lightweight ones.

Regional Analysis

” 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.”

• In terms of regions, North America is expected to remain the largest market for airfoils, whereas Asia-Pacific is expected to be the fastest-growing region during the forecast period. The United States has the largest domestic airfoils market in the world. North America has a large number of major OEMs, such as Boeing and Airbus, making the region a growth engine of the aerospace industry.

Competitive Landscape

Most of the major players compete in some of the factors, including price, service offerings, regional presence, etc. The following are the key players in the airfoil market -  

• Howmet Aerospace
• Precision Castparts Corp.
• Consolidated Precision Products
• Doncasters Group
• Chromalloy Gas Turbine LLC

Note: The above list does not necessarily include all the top players in the market.

Are you a leading player in this market? We would love to include your name. Please write to us at [email protected]

Recent Developments/Mergers & Acquisitions:

• In 2022, Siemens acquired Advanced Airfoil Components (AAC), a business operating as a joint venture of Siemens Energy and Chromalloy since November 2016.
• In 2019, Precision Castparts Corp. established a new R&D Campus for aviation engineering and manufacturing in Mason, Ohio.
• In 2018, Consolidated Precision Products acquired Selmet Inc. This acquisition elevates CPP's product line of highly designed components for aerospace and military markets. 

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so 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, Service 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 the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 15 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The airfoil market is segmented into the following categories:

Airfoils Market, by Industry Type

• Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• IGT (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Airfoils Market, by Application Type

• Blades (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Vanes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Shrouds (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Airfoils Market, by Material Type

• Nickel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Titanium (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Stainless Steel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Airfoils Market, by End-User Type

• OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Airfoils 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 the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Airfoil market realities and future market possibilities for the forecast period.

• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating 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.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respected 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: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across industries. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]