Global Aerospace Fasteners Market, By Material (Aluminum, Alloy Steel, Titanium, Others), Product (Nuts and Bolts, Rivets, Screws, Others), Aircraft Type (Commercial Aircraft, Military Aircraft), Application (Fuselage, Control Surfaces, Interior), End User (Military Aerospace, Commercial) - Industry Trends and Forecast to 2029.
Market Analysis and Size
The standards of aerospace fasteners materials, including resistance to corrosion and high operating temperature have been kept in mind for enhancing the fuel economy. Aerospace fasteners are mostly used in ballistic missiles, satellites, military aircraft (fighter jets), and defense, among other commercial purposes aircraft.
Global Aerospace Fasteners Market was valued at USD 7.30 billion in 2021 and is expected to reach USD 12.71 billion by 2029, registering a CAGR of 6.80% during the forecast period of 2022-2029. “Commercial” end user segment is expected to witness high growth owing to the increase in orders for commercial aircraft from developing regions. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
Aerospace fasteners refer to the hardware tools that are widely utilized for combining two or more objects in aircraft manufacturing and designing. The materials usually deployed in the aerospace fasteners include titanium, high strength alloys, nuts, bolts, and titanium, nickel-based alloys, among others.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Forecast Period
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2022 - 2029
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Material (Aluminum, Alloy Steel, Titanium, Others), Product (Nuts and Bolts, Rivets, Screws, Others), Aircraft Type (Commercial Aircraft, Military Aircraft), Application (Fuselage, Control Surfaces, Interior), End User (Military Aerospace, Commercial)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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Precision Castparts Corp (US), Stanley Black & Decker Inc (US), Alcoa Fastening Systems & Rings (US), National Aerospace Fasteners Corporation (Taiwan), TriMas (US), LISI Aerospace (France), 3V Fasteners Company Inc. (US), B&B Specialties, Inc (US), TFI Aerospace (Canada), and Ho-Ho-Kus Inc. (US), among others
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Market Opportunities
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Aerospace Fasteners Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers:
- Surge in Air Travel
The surge in air travel across the globe due to rise in tourism and high standard of living acts as one of the major factor driving the growth of aerospace fasteners market. Also, relief in the import duties in some countries for the manufacturers has a positive impact on the market.
- High Demand for Defense Sector
The rise in demand for aerospace fasteners for defense system in military helicopters, and fighter jets, among other special aircrafts across military air force accelerate the market growth.
- Aviation Industry
The high investment by aviation industry owing to the requirement for aircraft and high rate of air traffic further influence the market. Air travel is considered comfortable, cost-effective and fastest travel option for many individuals.
Additionally, expansion of the automotive sector, surge in investments and increased disposable income positively affect the aerospace fasteners market.
Opportunities
Furthermore, rapid innovations in research and development extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, rise in investment by the government in improving air-transport facilities further escalate the growth of aerospace fasteners market.
Restraints/Challenges faced by the Aerospace Fasteners Market
On the other hand, high production cost and unpredicted failure of the fasteners are expected to obstruct market growth. Also, quality accreditations and raw materials management are projected to challenge the aerospace fasteners market in the forecast period of 2022-2029.
This aerospace fasteners market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the aerospace fasteners market contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
COVID-19 had a Major Impact on Aerospace Fasteners Market
The COVID-19 had a negative impact on the aerospace fasteners market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for aerospace fasteners market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the aerospace fasteners market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.
Recent Developments
- TriMas announced that their monogram aerospace fasteners and fastening systems got selected by Airbus SE in February’2020. This multiyear agreement aims at expanding fastener sales of TriMas in Europe.
Global Aerospace Fasteners Market Scope
The aerospace fasteners market is segmented on the basis of material, product, aircraft type, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Material
- Aluminum
- Alloy Steel
- Titanium
- Others
Product
- Nuts and Bolts
- Rivets
- Screws
- Others
Aircraft Type
- Commercial Aircraft
- Military Aircraft
Application
- Fuselage
- Control Surfaces
- Interior
End User
- Military Aerospace
- Commercial
Aerospace Fasteners Market Regional Analysis/Insights
The aerospace fasteners market is analyzed and market size insights and trends are provided by country, material, product, aircraft type, application and end user.
The countries covered in the aerospace fasteners market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the aerospace fasteners market because of the rise in research and development activities and strong presence of various aircraft manufacturers within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in development along with rising number of OEMs in aviation industry in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Aerospace Fasteners Market Share Analysis
The aerospace fasteners market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to aerospace fasteners market.
Some of the major players operating in the aerospace fasteners market are
- Precision Castparts Corp (US)
- Stanley Black & Decker Inc (US)
- Alcoa Fastening Systems & Rings (US)
- National Aerospace Fasteners Corporation (Taiwan)
- TriMas (US)
- LISI Aerospace (France)
- 3V Fasteners Company Inc. (US)
- B&B Specialties, Inc (US)
- TFI Aerospace (Canada)
- Ho-Ho-Kus Inc. (US)
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