Global Aerospace Fasteners Market - Analysis of Growth, Trends, and Forecast (2022 - 2030)
Aerospace Fasteners Market
The global aerospace fasteners market is expected to register a CAGR close to 8% during the forecast period, 2018 to 2023. The commercial aerospace fasteners market currently holds around 60% of the total market, and is expected to reach 62% during the forecast period
Market Overview
Aerospace fasteners are broadly used in ballistic missiles, rockets, satellites, commercial aircraft and military aircraft. These are extremely critical mechanical components and are required to function in the most extreme of situations. Aerospace fasteners are made under strict regulations and standards so as to withstand high fatigue loading and drastic temperature changes. A single Boeing 747 Jet uses around 3 million fasteners.
The airlines are increasingly looking for aircraft with a minimum possible maintenance repair overhaul downtime. The market for aerospace fasteners is directly dependent on the number of aircraft manufactured, defense and space exploration activities. Governments across the world are solidifying their air defense and strong demand for aircrafts exists both in commercial and military aircraft segments. Replacement of aging aircrafts with next-generation aircrafts is another factor fueling up aerospace fasteners market globally. Also, the growing investment in cabin interior products, innovations in research and development for high strength and low weight aerospace fasteners will drive the market in the coming years. However, the introduction of composite materials to aircraft manufacturing, cost and availability of raw materials, and underdeveloped logistics and supply chain are some of the restraints identified in the growth of aerospace fasteners market.
Commercial Aerospace Fasteners Market to Dominate the Market Growth
The commercial aerospace fasteners market currently holds around 60% of the total market and is expected to reach 62% in the forecast period. The civil aviation industry, owing to increase in number of passengers travelling by air route, is growing at an unprecedented annual rate. This, in turn, is expected to push market growth of global aerospace fasteners market over the forecast period
Key Developments in the Market
• November 2017: Arconic, Airbus to advance 3D Printing for Aerospace under multi-year cooperative research agreement.
• December 2017: Bufab acquires Kian Soon Mechanical Components Pte Ltd
Major players: 3V FASTENERS INC., ALCOA CORP, B&B SPECIALITIES INC, KLX INC, LISI AEROSPACE, AVDEL, BUFAB GROUP, TRIMAS CORPORATION, ACCUMEN GLOBAL TECHNOLOGIES, MONOGRAM AEROSPACE FASTENERS
Reasons to Purchase this Report
1. The report analyses how the revival of the military aircraft demand will drive the aerospace fasteners market.
2. Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
3. Study on the fastener type that is expected to dominate the market.
4. Study on the regions that are expected to witness fastest growth during the forecast period
5. Identify the latest developments, market shares and strategies employed by the major market players.
6. Three months analyst support, along with the Market Estimate Sheet in excel.
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
The global aerospace fasteners market is expected to register a CAGR close to 8% during the forecast period, 2018 to 2023. The commercial aerospace fasteners market currently holds around 60% of the total market, and is expected to reach 62% during the forecast period
Market Overview
Aerospace fasteners are broadly used in ballistic missiles, rockets, satellites, commercial aircraft and military aircraft. These are extremely critical mechanical components and are required to function in the most extreme of situations. Aerospace fasteners are made under strict regulations and standards so as to withstand high fatigue loading and drastic temperature changes. A single Boeing 747 Jet uses around 3 million fasteners.
The airlines are increasingly looking for aircraft with a minimum possible maintenance repair overhaul downtime. The market for aerospace fasteners is directly dependent on the number of aircraft manufactured, defense and space exploration activities. Governments across the world are solidifying their air defense and strong demand for aircrafts exists both in commercial and military aircraft segments. Replacement of aging aircrafts with next-generation aircrafts is another factor fueling up aerospace fasteners market globally. Also, the growing investment in cabin interior products, innovations in research and development for high strength and low weight aerospace fasteners will drive the market in the coming years. However, the introduction of composite materials to aircraft manufacturing, cost and availability of raw materials, and underdeveloped logistics and supply chain are some of the restraints identified in the growth of aerospace fasteners market.
Commercial Aerospace Fasteners Market to Dominate the Market Growth
The commercial aerospace fasteners market currently holds around 60% of the total market and is expected to reach 62% in the forecast period. The civil aviation industry, owing to increase in number of passengers travelling by air route, is growing at an unprecedented annual rate. This, in turn, is expected to push market growth of global aerospace fasteners market over the forecast period
Key Developments in the Market
• November 2017: Arconic, Airbus to advance 3D Printing for Aerospace under multi-year cooperative research agreement.
• December 2017: Bufab acquires Kian Soon Mechanical Components Pte Ltd
Major players: 3V FASTENERS INC., ALCOA CORP, B&B SPECIALITIES INC, KLX INC, LISI AEROSPACE, AVDEL, BUFAB GROUP, TRIMAS CORPORATION, ACCUMEN GLOBAL TECHNOLOGIES, MONOGRAM AEROSPACE FASTENERS
Reasons to Purchase this Report
1. The report analyses how the revival of the military aircraft demand will drive the aerospace fasteners market.
2. Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
3. Study on the fastener type that is expected to dominate the market.
4. Study on the regions that are expected to witness fastest growth during the forecast period
5. Identify the latest developments, market shares and strategies employed by the major market players.
6. Three months analyst support, along with the Market Estimate Sheet in excel.
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
Please Select a Format
