Shot Peening Machines Market
According to a new comprehensive report from The Insight Partners, the global shot peening machines market is observing significant growth owing to growing demand from aviation industry.
The report runs an in-depth analysis of market trends, key players, and future opportunities. The shot peening machines market analysis focuses on a vast array of applications that are expected to determine market strength in the coming years.
Overview of Report Findings
- Market Growth: The shot peening machines market was valued at US$ 664.7 million in 2024 and is projected to reach US$ million 1,005.6 by 2031; it is expected to register a CAGR of 6.2% during 2024–2031. The global shot peening machines market is observing substantial growth and is expected to maintain its upward trajectory in the foreseeable future. This growth is attributed to the increasing focus on the growing significant demand from the aircraft manufacturing industry. Aircraft manufacturing is one of the industries that require advanced production techniques and high-precision components. Some of the aircraft components, such as aircraft engines, landing systems, rotor blades, and structural frames, operate under high pressure and extreme environments. Thus, the need for high-strength and durable components is high. As a result, shot peening machines are commonly used in the aircraft manufacturing industry.
- Growing Demand from Aviation Indiustry: As per the data published by Airbus and Boeing in 2023, both companies delivered more than 1200 passengers and freight aircraft, whereas, in 2019, the total aircraft deliveries reached approximately 1100 passenger and freight aircraft. With such growth in aircraft deliveries, the demand for aircraft components from aircraft OEMs increased. Countries in North America have flourishing aerospace & defense industries, which can be mainly recognized as stable economies, developed infrastructure, high technology adoption rates, and increasing government involvement. The commercial aviation sector in Canada is growing steadily owing to a rise in private air travel, robust population growth, and an increase in passenger travelers from Canada.
- Growing Investments in Transportation Industry: Overall transportation industry has shown notable growth in the past few years and is expected to witness notable growth during the forecast period. This growth is derived from a variety of factors, such as growing demand for personal vehicles owing to growing income levels, advancement in electric vehicles, government incentives, urbanization, government investments, and expansion in trade activities, among others. According to the data published by the International Organization of Motor Vehicle Manufacturers in 2023, the global automotive production in 2019 was 91.8 million; however, in 2023, the automotive vehicle production reached 93.5 million. Such growth in automotive production is expected to continue in the future to reach approximately 100 million by 2030. This growth is mainly driven by the growing adoption of electric vehicles and technological advancements. Currently, electric vehicle accounts for 16% of the total global vehicle sales, by 2030, this penetration is projected to reach approximately 50%. As per the data published by Edison Electric Institute in October 2024, by 2030, the annual sales of electric vehicles are projected to reach approximately 8 million, accounting for 46% of total light commercial vehicle sales. Thus, owing to such growth in the automotive industry, the adoption and demand of the shot peening systems is projected to increase.
- Geographical Insights: In 2024, Asia Pacific led the market with a substantial revenue share, followed by Europe and Europe. Further, Asia Pacific is expected to register the highest CAGR during the forecast period.
Market Segmentation
- Based on media, the shot peening machines market is segmented into steel shots, ceramic shots, glass beads and cut wire shots. The sheet shots segment held the largest share of the market in 2024.
- Based on application, the market is divided into space, aviation, medtech, transportation and others. The transportation segment held a larger share of the market in 2024.
- The shot peening machines market is segmented into five major regions: North America, Europe, APAC, Middle East, and Res of the World (Africa and South and Central America).
Competitive Strategy and Development
- Key Players: A few major companies operating in the shot peening machines market are Pangborn; Guyson Corporation; Engineered Abrasives; COGEIM EUROPE SRL; Goff Inc.; Wheelabrator Group; SINTOKOGIO, LTD; Norblast S.r.l; QINGDAO QINGGONG MACHINERY CO., LTD.; Innovative Peening Systems; OSK-Kiefer GmbH; and Rösler Oberflächentechnik GmbH.
- Trending Topics: Aircraft MRO services, Automoitve Manufacturing, Space Propulsion System
Global Headlines on Shot Peening Machines
- Agency for Science, Technology and Research (A*STAR) in Singapore, and Abrasive Engineering has been able to create smarter and more accurate abrasive blasting machines)
- Guyson Built Custom Robot-On-Rail Blasting and Shot Peening System for Aerospace Industry.
Conclusion
Apart from aircraft OEM, the adoption of shot peening technology is also high in the aircraft MRO industry. Aircraft MRO is another segment of the aviation industry where shot peening plays an important role. As the demand for air travel is growing, airlines are operating more flights with shorter turnaround times between departures. increased demand for components in the MRO segment led to increased demand for shot peening in the aircraft MRO segment. Thus, the continuously growing aircraft OEM and MRO industry led the shot peening industry in the past. Steel shots are most commonly used in the shot peening process to improve the mechanical and physical properties of metals. These are highly durable and provide constant peening results. The spherical shape of steel shots provides efficient and effective peening of the metal surface to achieve desired metal qualities. Moreover, steel shots can be reused repeatedly, unlike other peening media such as ceramic and glass, which reduces the waste output. Continuous growth in the automotive, aviation, and power generation industries is expected to drive the demand for shot peening machines during the forecast period. The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system technology integrators, system manufacturers, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
