Incremental forming of metal sheets is one of the new methods of metal forming with high flexibility in batch production of complex geometries. Due to the absence of a matrix and the gradual applying of forming forces, the forming limit in this process is increased compared to conventional ones. In this research, formability, forming, and finally fracture of aluminum/copper bilayer sheets produced by explosive welding method in the single point incremental forming process are studied. In the numerical prediction of growth and onset of fracture of sheets in this process, the Xue-Wierzbicki damage criterion was used as the VUMAT subroutine in Abaqus software. Using the numerical model, variations of the stress triaxiality and equivalent plastic strain as the variables affecting the damage growth in the incremental forming process were analyzed and explained, and the effect of cyclic and nonlinear loading in this process was shown. Experimental results show a different failure height of various geometries due to different loading conditions. Also, using the verified numerical model, in addition to predicting crack growth location, the fracture height in the formed geometries was predicted by 4.06% difference with respect to the experimental results.